OMV New Zealand has awarded Australia's MMA Offshore a contract to help with the decommissioning of several wells in the Maui field, 35 kilometers off the coast of Taranaki, New Zealand.MMA’s UK-based engineering team has designed and developed…
Ardyne, the Aberdeen and Norway-based fishing, milling and casing recovery provider, has announced a strategic partnership with Dynasty Energy Services, a company in specialized fishing services and plug and abandonment (P&A), to deliver enhanced P&A services globally…
UK-based Ithaca Energy, the operator of the Captain field located on the edge of the outer Moray Firth, UK, has sanctioned Captain Enhanced Oil Recovery (EOR) Stage 2 project.The sanction of the project in the UK Central North Sea comes after…
Schlumberger on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world's top oilfield services provider's fourth-quarter results beat estimates, aided partly by growing drilling demand.Easing of COVID…
Norwegian oil firm Equinor has, with its partners, decided to invest around NOK 3 billion (USD345,8 million) to boost recovery from the Statfjord Øst offshore field by 23 million barrels of oil equivalent.Statfjord Øst, sitting in the North Sea…
The COVID-19 pandemic and a faster transition to renewable energy sources will have a permanent impact on global oil demand, Norway's biggest independent energy consultancy Rystad predicted on Monday.Global demand will likely peak in 2028 at 102 million barrels of oil per day (bpd)…
Halliburton Co posted its fourth-straight quarterly loss on Monday, as the world's second-largest oilfield services provider struggles with a plunge in demand and lower oil prices.Even though oil prices have recouped some of their losses from the historic lows of March and April…
Top global oil traders Vitol, Trafigura and Gunvor said on Thursday they saw slow oil demand recovery because of a second coronavirus wave with oil prices rising to or above $50 per barrel only by October next year.Benchmark Brent crude futures traded down 1…
OPEC and allies, led by Russia, are scheduled to hold an online meeting on Thursday to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook.The key OPEC+ panel will…
Oil prices fell on Monday on fears about the economic fallout from rising COVID-19 cases around the globe and on oversupply worries as OPEC and its allies are set to wind back output cuts in August.Brent crude fell 18 cents, or 0.4%, to $43…
Brazil's oil industry expects a recovery in domestic demand in the next months driven by growing China imports, but the negative effects of COVID-19 are expected to last through the end of 2021, lobbying group IBP said in a note on Tuesday.Consumption could drop by more than 10%…
The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on a recovery in demand in China and India, trade sources and analysts said. A total of 3.4 million tonnes (24.8 million barrels) of crude oil was discharged…
Offshore drilling firm Seadrill said on Thursday the recent recovery of rig markets had slowed at the start of 2020, and that discussions with creditors on how to handle its massive debts would continue.The company booked $39 million in adjusted earnings before interest…
Enhanced Well Technologies AS, a company owned and controlled by EV Private Equity together with Shell Ventures B.V. and the IKM Group, announced the acquisition of riserless mud recovery services provider IKM Cleandrill AS. This acquisition…
Oilfield services provider Halliburton said it acquired a new portfolio of electro-mechanical downhole cutting tools and tubing punches from Westerton (UK) Ltd.Designed as an alternative to traditional pipe recovery and intervention across the well lifecycle from exploration to abandonment…
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