Posts Categorized: Uncategorized

Scotland’s unemployment fell to its lowest rate since the recession over the last quarter, amid growing oil and gas contractor confidence on the UK Continental Shelf. Unemployment in the country dropped by 0.6 percentage points to 4 percent, equalling the figure for March to May 2008, the labour market statistics for Feb-Apr 2017, published by… Read more »

LONDON, June 15 (Reuters) – When BP boss Bob Dudley clinched a final deal to settle litigation over the deadly Deepwater Horizon disaster, many oil industry executives and investors thought his mission was accomplished. But now, two years later, the 61-year-old is showing no sign of easing into retirement. In fact he plans to oversee an ambitious… Read more »

Around the world, investment bankers rub their hands together, giddy with visions of barrels full of cash accompanying Saudi Arabian Oil Co.’s initial public offering (IPO). But first things first. Saudi Arabia’s decision of where the kingdom will place Saudi Aramco’s record-shattering IPO – expected to value the company up to $1 trillion – remains… Read more »

(Bloomberg) — Saudi Arabia and Russia are at odds on pretty much everything: the war in Syria, policies on Iran, ties with Washington. But when it comes to propping up global oil prices, they’ve never been more aligned. Just look at how the world’s two biggest oil producers united last week to tell markets they… Read more »

Schlumberger has signed a memorandum of understanding with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, which includes the creation of jobs and enables development opportunities for Saudis in oil and gas services and related sectors. The roadmap also strengthens the deployment of Schlumberger technology, reduces regional delivery times for key products and… Read more »

(Bloomberg) — Drilling rigs and roughnecks are hot commodities once again across the Montney shale formation in northern British Columbia and Alberta, and companies like Grimes Well Servicing Ltd. are having a hard time keeping up with demand. That’s because the Montney, unlike many parts of Canada’s oil and gas region, is seeing a surge… Read more »

In this May 16, 2017 photo released by China’s Xinhua News Agency, workers celebrate the successful trial extraction of natural gas from combustible ice trapped under the seafloor on a drilling platform on the South China Sea. Commercial development of the globe’s vast reserves of a frozen fossil fuel known as combustible ice has moved… Read more »

ConocoPhillips completed its previously announced transaction with Cenovus to sell its 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the majority of its western Canada Deep Basin gas assets. ConocoPhillips Canada retains its operated 50 percent interest in the Surmont oil sands joint venture and its… Read more »

LONDON, May 18 (Reuters) – Britain’s Conservative Party will introduce legislation to support shale energy development and impose a household energy tariff cap if it is re-elected in June, its election policy document showed on Thursday. The Conservative government pledged last month to cap standard variable tariffs, responding to voter discontent about energy bills which… Read more »

As the gas glut continues to build in the Marcellus and Utica plays of the Northeast, pipelines and other infrastructure needs are becoming perhaps even more valuable a commodity. Capacity is currently set at 9.04 billion cubic feet per day (Bcf/d), but is expected to climb to 14.2 Bcf/d by 2020, said analysts at East… Read more »