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U.S. Presidential Debate and Energy Talk. Trump calls out Clinton on the failed Democratic backing of Solyndra. Trump calls for "all forms of energy" and focuses on the financial consequences of previous energy policies.
Fire in Caspian. A fire broke out on a platform in the Gunashli field, offshore of Azerbaijan (say that ten times fast) forcing the evacuation of 69 workers. Firefighting is underway. No one was injured, and the investigation to identify the cause of the accident is underway
And You Thought an OPEC Deal Was Possible. Oil prices slide downwards after Saudi Arabia said Algeria was full of it. Saudi and Iran are at war and the weapon is oil. There will be no deal.
U.K. Industry Group Cuts Reserves by One Third. Industry group UK Oil and Gas has slashed its estimate of Britain's existing oil and gas reserves by a third, saying weak oil prices have made it less likely that some resources will ever be retrieved. The UK is the 21st ranked oil and gas producer globally and will likely fall further over the coming years.
Russia Does Everything the U.K. Does Not. To counter declining conventional production, Rosneft and Gazprom head to Siberia to crank up unconventional production, showing the complexities facing producer nations seeking to tackle a global oversupply of crude.
U.K. Receives First Shale Gas. The U.S. delivers shale gas to the Brits. The first shipment just arrived. This top 10 is not looking good for the U.K.
Total Contracts Farstad's CSV Far Sleipner. Farstand will support subsea activities offshore Congo. The 18 month contract has the possibility for extended terms. Several countries are setting themselves up for a severe case of Dutch Disease, but they have no other choice.
Onshore Drilling Next Year in Niger. Savannah Petroleum prepares for land seismic in Niger that will result in drilling next year. This is Niger, not to be confused with Nigeria.
Statoil Cancels Another Rig. This time the West Epsilon gets cut loose two months before contract end. Statoil's cost cutting is going to be felt globally in 2017.
China Gets Ready for Winter with LNG Order. ENGIE has been working with China for 40 years. Following a tender process launched by Beijing Gas Group (BGG), ENGIE has been selected to supply approximately 900 MMcm of LNG to the city of Beijing. That is how you build a long-term relationship and the rewards are bountiful. Countries wanting to make money consider sage advice from Tarzan, "Make friend, not enemy."
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IRVING, Texas -- Oil production has started under budget and ahead of schedule at Julia oil field in the Gulf of Mexico, Exxon Mobil said Tuesday. The first production well is now online and a second well will start production in the coming weeks.
The Julia development is located approximately 265 miles southwest of New Orleans in water depths of more than 7,000 ft. The initial development phase uses subsea tie-backs to the Chevron-operated Jack/St. Malo production facility, reducing the need for additional infrastructure and enhancing capital efficiency. Technology has also played a key role in the Julia development including the use of subsea pumps that have one of the deepest applications and highest design pressures in the industry to date.
“Successful deepwater developments like Julia, located more than 30,000 ft below the ocean’s surface, benefit from Exxon Mobil’s disciplined project execution capabilities and commitment to developing quality resources using advanced technology,” said Neil W. Duffin, president of Exxon Mobil Development Company.
The Maersk Viking drillship is drilling a third well, which is expected to come online in early 2017. Production results will assist in the evaluation of additional wells included in the initial development phase, which has a design capacity of 34,000 bopd.
“This initial production will provide Exxon Mobil with insight into the potential future development of the reservoir,” said Duffin.
Discovered in 2007, Julia field comprises five leases in the ultra-deepwater Walker Ridge area of the Gulf of Mexico.
Exxon Mobil, the operator, and Statoil Gulf of Mexico LLC each hold a 50% interest in the Julia unit. Over the past decade, Exxon Mobil has drilled 187 deepwater wells worldwide in water ranging from 2,100 ft to 8,700 ft.
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US oil and gas producers have cut 142,000 jobs as of May 2016 since its peak employment levels in October 2014 of 538,000, according to a US Energy Information Administration press release on Friday—a 26% drop over that period.
To put the employment figures into perspective, the average decrease in employment over the 20-month span from October 2014 to May 2016 is 7,100 per month—a figure that dwarfs the jobs cuts in the oil and gas sector during the 2008-2009 recession, which was 51,000 for a 13-month period, according to the press release, or an average of 3,923 per month.
Whereas US oil rig count and jobs are seemingly tied together and followed similarly bleak paths, crude oil production has not followed the same sharp downward trajectory, mainly due to advances in drilling technology. This would seem to suggest that neither the rigs nor the jobs are needed to sustain current production levels, which are not too far off from 2014 levels.
CNN’s list included chart topper National Oilwell Varco, who cut 17,850 jobs; Schlumberger with 12,500; Halliburton with 10,200; Chevron with 7,500; and Weatherford International bringing up the rear in tenth place with 6,000.
Wood集团在伊拉克获签两项新合同，总价值超过14,000万美元（9200万英镑）。
Wood Group PSN (WGPSN)公司赢得了这两项合同。根据合同规定，Wood将会为一家国际石油公司（未公开公司名称）提供技术服务和专业技术。
合同内容主要包括：为伊拉克南部一项重要陆上资产的开工和作业提供棕地前端工程设计、施工设计、采购服务、系统性竣工和试运行服务。
两项合同即刻生效。通过签订这两项合同，WGPSN将会在该地区创造100个就业机会。此外，WGPSN将会在伊拉克南部和迪拜履行合同。
WGPSN东部地区总经理David Buchan表示：通过签订这两项重要合同，Wood集团与关键客户紧密合作，由此在伊拉克拓展业务。Wood在迪拜设有办公部，并在伊拉克拥有办公基地，这表明Wood有意于和客户建立长久关系，并建设供应链合作伙伴关系。石油圈原创www.oilsns.com
来自/Daily Record 5月9日消息 编译/赵宁
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Wood Group has secured two new contracts in Iraq collectively worth in excess of $140 million (£92 million).
Both of the three-year contracts, secured by subsidiary Wood Group PSN (WGPSN), are to deliver technical services and expertise to an unnamed international oil company.
Wood Group will provide brownfield front end engineering design, detailed engineering, project management, procurement services, system completion and commissioning support for operations and start-up on a significant onshore asset in southern Iraq, under the two contracts.
The contracts are effective immediately and will see WGPSN create more than 100 new jobs in the region.
WGPSN will manage the contracts from southern Iraq and Dubai, where it established an office in 2015.
David Buchan, WGPSN's eastern region managing director, said: “These two significant contract wins demonstrate Wood Group's commitment to working closely with key clients to extend our operations in Iraq, where we see a growth market that complements our broad service capabilities, international knowledge and strong expertise.
“Establishing an office in Dubai and a base in Iraq reflects our intention to build lasting customer relationships and focus on the development of our Iraqi workforce and supply chain partnerships.”
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Tehran has ruled out any possibility of Iran-Pakistan-India (IPI) gas pipeline project becoming a reality.
"Those who have invested in the LNG projects in India will not allow the pipeline venture to take off,” Iranian ambassador to India Gholamreza Ansari said on Thursday at a media event in New Delhi, reported Indo Asian News Service (IANS), a news agency.
He added that US will continue to oppose the project and will not let it materialise.
"Americans are looking for the Indian market for the future and any sort of pipeline will put an end to these investments. So, I don't think pipeline can be a serious project. I am sure Americans will not let this project go ahead," he said.
The idea of IPI pipeline took concrete shape in the 1990s. Discussions between the governments of Iran and Pakistan started in 1994. A preliminary agreement was signed in 1995. Later Iran made a proposal to extend the pipeline from Pakistan into India. In February 1999, a preliminary agreement between Iran and India was signed. However, India later withdrew from the project citing security reasons.
Currently, only Iran-Pakistan (IP) section of the pipeline is in the works with Iran having finished laying the pipeline on its soil. But due to sanctions on Iran, Pakistan did not start work on the pipeline.However, with sanction now lifted, both parties are eager to finish the project. Islamabad has said the pipeline remains a very important project.
Axis Offshore已将Dan Swift 浮式住宿船的部分股份出售给海上平台服务公司Prosafe。2016年11月，Axis 与 Prosafe 签订意向书，计划出售Axis Nova和the Axis Vega两座新型恶劣环境半潜式居住平台以及单体船Dan Swift 25%股份。12月13日双方正式签订协议，12月16日Prosafe正式收购Axis Nova 和Axis Vega，12月29日完成了Dan Swift的股权交易。
Dan Swift是一艘单体浮式住宿船，配备DP2动力定位装置、伸缩舷梯、大型起重机、直升机起降甲板、灵活式工作间和存储仓，可容纳300人，主要提供海上安装、维护、退役等服务。该船曾为Statoil和壳牌服役，2016年7月结束与Petrobras的五年期合同。最新AIS数据显示，Dan Swift目前停泊在丹麦奥尔堡。
Oil Market Stew: Kuwait, Saudi Vs. Russia, & Ballooning U.S. Stockpiles. 3 major factors are influencing global oil markets Wednesday morning: the end of the Kuwait oil strike, stepped up tensions between Russia & Saudi regarding oil market share, and increasing U.S. oil stockpiles. [Oilpro]
Oil Prices - Confused After Doha? Matt Epstein writes, "The outcome of the OPEC + Russia gathering in Doha was not an unpredictable outcome given the strategic momentum going into the meeting - continued conflict between Riyadh and Tehran." [Oilpro]
Opinion: We've Already Hit Bottom. Don Minter writes, "The $27 we hit in February was the bottom. We're not going to see that again until we see $60+. You heard it here first." Minter explains why he has made such a bold prediction in this insightful post. [Oilpro]
Saudi Reportedly Chooses JPMorgan, Michael Klein To Advise On Aramco IPO. Saudi Arabia has reportedly chosen JPMorgan Chase & Co. and former Citigroup investment banker Michael Klein to advise Saudi Aramco on its planned initial public offering in 2017, Bloomberg reported. [Oilpro]
Total Reveals Wide-Ranging Plan To Become The "Responsible" Supermajor. Total plans to enact a wide-ranging new organization plan starting at the beginning of 2017.Its ambition is to "meet the needs of a growing world population, tackle climate change and provide solutions that match changing customer expectations." [Oilpro]
Statoil's New Subsea Concept, "Cap-X". Norway's Statoil has announced a new subsea solution called "Cap-X" that the company says is designed to cut costs and increase efficiency. The development of the Cap-X solution is part of Statoil's efforts to reduce costs in its project portfolio. [Oilpro]
Exxon Starts Production At Major Deepwater Gulf Of Mexico Project. ExxonMobil announced Tuesday the start-up of oil production at the Julia oilfield in the Gulf of Mexico "under budget and ahead of schedule." The first production well is now online, the company said, and a second well will start producing in coming weeks. [Oilpro]
Mexico's Deepest Offshore Oil Still Draws Interest. Mexico’s upcoming deepwater oil and gas tender is drawing significant interest even at $40 oil, a panel of experts said Tuesday in Houston. Twenty-one companies have asked to access to data on the fields that may be auctioned and are vetting the deep-water fields, according Mexican regulators. [Fuelfix]
Bohai Shipbuilding Industry To Build China's First Offshore Nuclear Platform. China Shipbuilding Industry Corporation (CSIC) has confirmed that it will construct the first offshore nuclear platform at its affiliate yard Bohai Shipbuilding Industry. [Splash 247, Oilpro]
Painful Transition For O&G States As Oil Revenues Evaporate.From Alaska to Louisiana, the great American oil boom is coming to an end. For states that are top energy producers, the crash in oil prices has brought a major economic hangover, a loss of tax revenues and big budget shortfalls. [CNBC]
来自/Offshore Energy Today 7月12日消息 编译/赵美园石油圈原创www.oilsns.com
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Independent oil and gas company Premier Oil is ramping up oil production at its Solan field, in the UK North Sea, to 14 kbopd from the first production well, currently at 11 kbopd.
First oil from the Solan field was achieved on April 12. Premier subsequently carried out a planned production shut down focused on the final commissioning of the electrical systems, the control and shut down systems and the water injection plant, taking advantage of the availability of the flotel, the company explained on Tuesday. The flotel has since departed the field and production from the Solan field restarted on June 22.
The field, which is currently producing at 11 kbopd, is ramping up to 14 kbopd from the first production well with water injection providing reservoir support. The drilling activities on the second production well (P2Y) have been completed. A DSV is scheduled to tie P2Y into production later this month after which production from the field will build up to an anticipated plateau rate of 20-25 kboepd, Premier said.
The company’s production averaged 61.0 kboepd for the first six months of the year with a record rate of over 80 kboepd achieved post period end. The newly acquired E.ON assets have continued to perform well and the summer maintenance program has been largely completed. With Solan ramping up, Premier continues to expect full year production to be at or above the upper end of its guidance of 65-70 kboepd.
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Atlantic Navigation将提供5艘维修船、工作船和多用船和5艘锚拖船、供应船和安全巡逻船。租约有效期为5年，可延期2年。其中，3艘船的租期将从2016年5月份开始，而剩下的7艘新船将于2017年发货。
Atlantic Navigation执行总裁兼首席执行官Bill Wong表示：很高兴成功签订这些租赁合同。虽然当今工业形势艰难，我们将继续努力，与合作伙伴一同成长。石油圈原创www.oilsns.com
2016年第一季度，Atlantic Navigation净亏损106万美元，收入降低49.4%，降至695万美元。
来自/Splash247 5月16日消息 编译/赵宁
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Atlantic Navigation has announced that it has been awarded long term charters for ten offshore supply vessels at a combined value of around $236m from a Middle Eastern national oil company.
The group will supply five maintenance/work/utility vessels and five anchor handling tug, supply and safety standby vessels, which will be on a firm five-year charter with a two-year extension option. Three vessels are to begin their charters from May 2016 and the remaining seven newbuilds will be deployed in 2017 as they are delivered.
“We are pleased to have been awarded these ten vessel contracts. Despite the challenging industry conditions, we continue to pursue our growth strategy together with our regional partners, particularly in our core market in the Middle East,” said Bill Wong, executive chairman and CEO of Atlantic Navigation.
Atlantic Navigation also reported a net loss of $1.06m for the first quarter of 2016 while revenue plunged 49.4% to $6.95m.
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Saltchuk分公司North Star 石油公司总裁兼首席执行官Brian Bogen 表示“在Deadhorse地区扩大服务反映了我们对Alaska州和油气客户的长期承诺。”
来自/Adn 5月4日消息 编译/吴海君
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Saltchuk, a major transportation firm in Alaska, has purchased one of the oil field services businesses of Alaska Native regional corporation NANA.
NANA Oilfield Services distributes fuels, drilling fluids and potable water to camps all over the North Slope. It was the main fuel provider on ExxonMobil's Point Thomson project.
The Point Thomson contract boosted NANA Oilfield's fuel sales to a record high, according to NANA's 2014 annual report. Deliveries of fuel and urea to the North Slope natural gas project helped increase the subsidiary's revenues by nearly $4 million to about $130.2 million.
But revenue decreased by $15.6 million the following year, a reduction NANA said "was related entirely to the decrease in fuel prices." On the upside, the company set a record for the quantity of gallons of fuel sold in fiscal year 2015 and managed to set an earnings record of $5.5 million.
The acquisition of the 36-employee company complements Saltchuk's other fuel distribution company, Delta Western, which offers services to the Aleutian Islands, Western and Southeast Alaska and the Pacific Northwest. The sale was announced Monday on Saltchuk's website.
NANA spokeswoman Blythe Campbell wrote in an email the company is referring all inquiries about the sale to the new owners.
“Expanding services in Deadhorse is reflective of our long term commitment to the state of Alaska and our oil and gas customers,” said Brian Bogen, president and CEO of North Star Petroleum, the petroleum distribution unit of Saltchuk.
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YENAGOA, Nigeria, April 17 (Reuters) - A group that claimed responsibility for a major attack on a pipeline in Nigeria's oil-producing Delta region said it will carry out more strikes, just days after President Muhammadu Buhari vowed to crack down on "vandals and saboteurs".
The Niger Delta Avengers has said it carried out the attack on a Shell underwater pipeline in February which interrupted oil flows and forced the company to shut down its 250,000 barrel-a-day Forcados export terminal for weeks.
Pipeline attacks and violence have risen in the southern swampland of Africa's biggest oil exporter since authorities issued an arrest warrant in January for a former militant leader on corruption charges.
Last week Buhari, a former military ruler, said the government would crack down on pipeline saboteurs.. And on Sunday the vice president's office issued a statement that said a permanent pipeline security force was being considered.
"We are not deterred by such threats as we are highly spirited and shall continue blowing up pipelines until the Niger Delta people are no longer marginalised by the Nigerian actors," said the Niger Delta Avengers in a statement.
The Delta's oil provides 70 percent of state income in Africa's biggest economy but, like much of Nigeria, the region has seen little development which has prompted militants to demand a greater share of crude revenues.
Niger Delta Avengers, unheard of before the Forcados attack, say they want to ensure that local people enjoy a quality of life which reflects the region's contribution to the national purse.
The group said in its statement: "We take no pleasure in claiming innocent lives hence our struggle is geared toward attacking the oil installations in our region and not the people. And we shall stop at nothing until our goal is achieved."
Buhari has extended a multi-million dollar amnesty signed with militants in 2009 but upset them by ending generous pipeline protection contracts.
Vice President Yemi Osinbajo visited the damaged Forcados terminal on Friday.
Sources have said repair work on the pipeline feeding Forcados crude oil to the export terminal is expected to take until June. But the vice president's statement said repair work was expected to end in May.
来自/Offshore Energy Today 9月23日消息 编译/赵美园石油圈原创www.oilsns.com
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Lukoil, Russia’s largest privately-held oil company is set to produce first oil from its Caspian Sea project. More than a decade since making the discovery, the company now expects to bring its Vladimir Filanovsky field online within day. According to Tass news agency, which cited Azat Shamsuarov, Senior Vice President for Oil and Gas Production, the first oil is expected this month, with the connection to the Transneft pipeline system expected by the end of September.
The Filanovsky field is, according to Lukoil, one of the largest discovery in Russia in the past 25 years. It is located in the northern part of the Caspian Sea, 220 km away from Astrakhan. Water depth in the field area ranges from 7 to 11 meters. Production volume at the plateau will be 6 million tons per year.
Lukoil recently put into service three ice-class vessels in support of its Caspian Sea oil and gas activities. The vessels Bumi Uray, Bumi Pokachi and Bumi Naryan-Mar, delivered by Bumi Armada, are being used at the Vladimir Filanovsky field. According to Tass, Lukoil will invest $13.6 billion in the development between 2016 and 2045. Lukoil expects peak production at the field will be 120，000 barrels per day.
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1. Halliburton-Baker Hughes合并计划告吹
Halliburton和Baker Hughes周日宣称：双方已终止合并协议，2014年11月Halliburton宣布收购Baker Hughes，这项交易为石油服务领域有史以来数额最大的交易。
2. OPEC石油产量上升 油价回落
由于中东地区石油产量不断上升，抵消了美国原油产量下滑和美元走弱带来的利好。周一，油价从2016年至高点回落。路透社一项调查显示：4月OPEC石油产量升至3264万桶/日，为近几年最高。
3. 钻机数量并不代表石油产量
David Bridgeman在Updated Rig Model一文中表示：“钻机数量依然保持低水平”但是，他提醒道：“钻井数量并不代表石油产量！如果电视节目里的专家试图把钻机数量和油价联系在一起，千万别被他们迷惑。”
4. Chevron称“2016年公司将会继续削减成本”
周五，Chevron公司管理层再次承诺：Chevron将在油价低迷时期遵纪守法、随机应变。由于石油市场变幻莫测，Chevron将继续保持灵活性，或进一步削减开支。
5. Diamond Offshore公布业绩 任命新首席财务官
首席执行官Marc Edwards表示：“第一季度，Diamond Offshore营运效率高达98.2%，这在公司业绩中有所体现。”此外，Halliburton资深职员Kelly Youngblood被任命为首席财务官。
6. H&P首席执行官预计艰难时期将会继续
John Lindsay表示：“全球各地都在裁减职员、降低花费、减少投资，我们估计，第三财政季度的钻井工作将会进一步恶化。”
7. 沙特工人焚烧公司大巴 抗议“裁员欠薪”
沙特Al-Watan报发布消息称：沙特一公司解雇50,000名外籍员工，并向他们发放出境签证。随后，工人纵火焚烧公司大巴。
8. IEA主席表示：油价或许已经触底
周日，国际能源署（IEA）主席Fatih Birol表示：如果全球经济状况保持良好状态，油价或许已经降至最低点。
9. Hamm 称：没有OPEC 市场依然可以保持稳定
Harold Hamm在一篇专栏评论中表示：“事实上，美国原油现在已经出口到了世界上的各个角落 --- 从德国到意大利，从以色列到日本。在美国取消出口禁令后不到半年的时间里，自由市场正在发挥作用，全球石油市场趋于稳定，但这与OPEC无关。”石油圈原创www.oilsns.com
10. Technip与Petrobra所签合同延期
Petrobras公司与Technip公司所签订的五年期合同延期四年，根据该合同规定，Technip将为Petrobras旗下Flexible Pipes Logistic Base (BAVIT) 提供服务。而此次合同延期为双方带来的价值并没有对外公布。
来自/Oilpro 5月2日消息 编译/赵宁
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The Halliburton-Baker Hughes Merger Has Been Called Off. Halliburton and Baker Hughes announced on Sunday that the companies have terminated the merger agreement they entered into in November 2014. The deal would have been the largest in oil service history. [Oilpro]
Oil Prices Slip From 2016 Highs On OPEC Output Boost. Oil prices edged back from 2016 highs on Monday as rising production in the Middle East outweighed a decline in U.S. output and a sliding dollar. A Reuters survey showed that OPEC production rose in April to 32.64 M/bpd, close to the highest level in recent history. [Reuters]
Update On Oil Rig Forecast; And Rigs Aren’t Production. David Bridgeman's updated Rig Model "suggests the rig count continues low, but somewhat stable, until picking up a year from now." But, he cautions, "Rigs Are Not Production! Don’t be confused by the “talking heads” on TV when the try to relate rig count to oil prices." [Oilpro]
Earnings Review
Chevron Says "Cost Reduction Momentum Should Continue Throughout 2016". On Friday, Chevron's management team reiterated its commitment to a disciplined and resilient approach amid the downturn. It is remaining flexible given the volatility of the oil market to enact further cuts if needed. [Oilpro]
Diamond Offshore Reports Earnings, Names New CFO. CEO Marc Edwards said, "Fleet-wide, we achieved operational efficiency for the quarter of 98.2 percent, which is reflected in our earnings results and improved project economics for our clients." Also, Halliburton veteran Kelly Youngblood has been appointed CFO. [Diamond Offshore]
H&P CEO Sees "Demanding Times" Continuing. John Lindsay said, "Sharp reductions in personnel, expenses, and investments are occurring worldwide, and we expect to see further deterioration in terms of drilling activity during the third fiscal quarter." [Helmerich & Payne]
Saudi Workers Set Fire To Buses Over '50,000 Sacked And Salaries Unpaid'. The attack on the company buses came after Saudi Al-Watan newspaper reported the company had laid off 50,000 foreign employees and issued them exit visas. [UK Independent, Oilpro]
IEA Chief: Oil Prices May Have Hit Bottom, But Watch The Economy. International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, providing that the health of the global economy does not pose a concern. [CNBC]
Hamm: No Doha Deal, No OPEC, No Problem. "U.S. crude oil exports are now reaching virtually every corner of the world – from Germany to Italy to Israel to Japan. Less than six months after America lifted its 40-year-old export ban, free markets are working, OPEC is irrelevant, and the global oil market is stabilizing," Harold Hamm says in this op-ed column. [journalrecord.com, Oilpro]
Technip's Contract Extended At Petrobras' Base For Flexible Pipes. Petrobras has extended Technip's five-year contract at its Flexible Pipes Logistic Base (BAVIT) by a further four years. The value of the contract extension was not disclosed. [Splash 247, Oilpro]
Meet Environmental Scientist, Andra Wilcox, #HUMANSofOG. She writes, "I’m one of the lucky ones that gets to say I love my job! I’ve been working with the environmental side of O&G since 2012 and I get to see how far industry has come and how above and beyond many are going to ensure the environment and employees are protected." [Oilpro]
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Offshore vessel provider Viking Supply Ships (VSS) has finalized the in-principle agreement with the banks regarding the company’s revised long-term financial platform.
However, the company said, the agreement remains subject to final credit committee approval. The company also said it will continue its negotiations with its investors and remaining financial creditors with an aim to reach a final agreement with them as well.
In accordance with the principle agreements with the banks, the company will not fully pay interest, amortizations or other commitments to neither its financial creditors nor under the Odin Viking bareboat charter contract, other than where an agreement for a long-term financial platform has been reached.
As a consequence of this, the company has received a notice of default from Nordic Trustee (on behalf of the bondholders). The company has for some time been engaged in a dialogue with a few core bondholders and their advisor.VSS stated that, if an acceptable solution is not reached with all relevant financial creditors, Viking Supply Ships will consider all structural and strategic alternatives.
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Thailand’s Banpu announced some new strategic initiatives at its annual general meeting held on Tuesday, increasing focus on low emission power, renewable and unconventional energy.
The company, which is primarily in coal mine development, has bought 29.4 percent stake in a US shale gas field. It has paid $112 million to pick up the stake in Chaffee Corners Joint Exploration Agreement, a shale gas operation in the northeast section of the Marcellus formation in Pennsylvania.
Banpu’s net interest in the Chaffee Corners JEA is equivalent to proved reserves of 156 billion cubic feet of dry natural gas. It targets the net output of around 21 million cubic feet per day this year, the company said in a statement published on Thai stock exchange.
Although, the company will continue to focus on and develop its coal and power business, a growing emphasis will be placed on harnessing the potential of new energy technologies, lower environmental impact fuels and supply chain integration synergies.
MOSCOW, May 18 (Reuters) - Russia's No. 2 gas producer Novatek and Thailand's largest energy company PTT Pcl signed a memorandum of understanding on Wednesday which foresees joint exploration and development of hydrocarbons and supplies of liquefied natural gas.
Novatek, where France's Total holds a 18.64 percent stake, plans to launch the Yamal LNG project next year with a view to producing 16.5 million tonnes of frozen gas annually.
The company has said that almost all of the future gas from the project has been presold already.
Russian companies have been exploring ways to increase their global exposure and have made forays into new markets amid Western sanctions over Moscow's role in Ukrainian crisis.
Rosneft, Russia's largest oil company, is expected to sign a framework agreement with Indonesia's Pertamina later this week.
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Iraq Wants ExxonMobil’s, Petrochina’s Help. If Iraq wants to maintain its daily production of 4.8 million barrels, it might need some outside help – something officials are hoping to get through deals with ExxonMobil and Petrochina. [Oilpro]
Asian Oil Markets Welcome Iranian Crude. Japan, South Korea and India have all boosted crude oil purchases from Iran in 2016 as the country continues to defy skeptics with a 25 percent surge in production with an aim to reach an eight-year high for daily output. [Bloomberg]
Hong Kong Wants More LNG. Billionaires in Hong Kong are joining forces to explore the possibility of building an offshore LNG receiving terminal as officials desire to decrease its reliance on coal and increase natural gas-fired generation. [Bloomberg]
Shell’s Earnings Plunge in 2Q. Royal Dutch Shell posted net income far lower than the $2.1 billion expected by analysts, sitting at $1 billion, with an upstream division which lost $1.3 billion compared with a $469 million deficit last year. [Reuters]
Turkey’s Oil and Gas Sector To Be Hit Hard By Failed Coup. It’s going to be a rough time for Turkey as civil unrest in the region and the potential for more supply disruptions could continue to hamstring oil and gas exports. [Business Insider]
ConocoPhillips Posts Quarterly Loss. Oil producer ConocoPhillips saw its net loss widen to $1.07 billion in the second quarter with a reduced budget down to $5.5 billion.[Reuters]
FERC Rules No Environmental Impact In National Fuel Pipeline. While the Federal Energy Regulatory Commission did not give final approval for a 96.5 mile, $455 million natural gas pipeline, the agency did not find any significant environmental impact across four Western New York Counties. [The Buffalo News]
Shell Makes New GOM Discovery. Shell has made a new exploration discovery in the deepwater Gulf of Mexico. The initial estimated recoverable resources for the Fort Sumter well are more than 125 MMboe. [Oilpro]
Libya’s Oil Plans Suffers Setback. Libya’s plans to increase oil output staggered after state-owned National Oil Corporation opposed a potential deal between the government and Petroleum Facilities Guards. [Platts]
Exxon Negotiating For Mozambique Gas Discoveries. ExxonMobil is setting it sights on acquiring a minority stake in natural gas discoveries off the coast of Mozambique, and is also in talks with Anadarko for a similar deal. [CNBC]
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TEHRAN, May 01 (Shana) –- National Iran Gas Exports Company (NIGEC) and the Korean Gas Corporation (KOGAS) have signed their first memorandum of understanding in oil industry in the post-sanctions setting.
Alireza Kameli from NIGEC and Seung-Hoon Lee from KOGAS signed the MoU in Tehran on Sunday.
The MoU concerns Iran's natural gas exports in the form of liquefied natural gas (LNG), gas market, and transfer of the related experiences in gas industry cooperation.
The KOGAS was established in 1983 and is one of world's biggest LNG importers.
On Sunday morning, Iranian Minister of Petroleum Bijan Zangeneh received South Korea's Minister of Land, Infrastructure and Transport Kang Hoin in his office in Tehran.
The two officials discussed avenues for future cooperation in energy fields.
8月24日周三，据外媒援引熟悉情况的消息人士称，美国油气公司Silver Hill Energy Partners正在寻求出售机会，包括债务在内该公司估值或将超过20亿美元。这可能成为今年石油行业的最大一笔交易。Silver Hill拥有4万英亩(16190公顷)油田，每日产油18000桶。（中石油新闻中心，8月29日消息）
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