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Weak Diesel Imports for Indonesia for Years to Come
Previously ranked as Asia's top diesel importer, now No.3 Indonesia is expected to take a third less of the fuel this year as demand from mining falters and biodiesel use in transport and industry grows with a mandate implemented in January.
XPD8 Seals Contracts in North Sea, Malaysia
Asset integrity management specialist XPD8 Solutions has secured more than £2.25 million in combined contract wins for work in the North Sea and Malaysia. Over a period of 12 months, XPD8 will develop the work management system, which includes asset register…
EnQuest Marks 11 Years of Safety Achievements
Independent oil producer EnQuest has achieved a safety milestone after recording a total of 11 years without a lost time incident (LTI) across three of its North Sea producing assets. The Heather drilling team achieved eight years without an LTI…
McDermott Awarded Anadarko GoM Contract
McDermott International, Inc. says that one of its subsidiaries has entered into an agreement with Anadarko Petroleum Corporation to provide construction and decommissioning support services employing Derrick Barge 50 (“DB50”) on the Red Hawk project, located in Garden Banks 876.
Apache First Discovery in Australia's Offshore Canning Basin
Apache Corporation today announced an oil discovery at the Phoenix South-1 well - the company's first discovery in Australia's offshore Canning Basin. Wireline and formation pressure tools have confirmed at least four discrete oil columns ranging…
IMCA Cracks Down on Bribery and Corruption
Bribery and corruption is a growing concern for businesses in all sectors and jurisdictions. Corruption is a problem not only from an ethical and competition-distorting perspective, but also because of the substantial risk it creates to the…
Bechtel, Union Avert Aussie LNG Construction Delays
Engineering giant Bechtel Corp reached a new workplace agreement on Friday with construction workers, averting strikes that could have delayed the start-up of three liquefied natural gas (LNG) plants it is building on Australia's east coast.
Thai Oil Keen to Upgrade SE Asia Refineries
Thai Oil, the country's largest refiner, said on Friday it was keen to take part in bids to upgrade refineries in Indonesia and Myanmar as part of its regional expansion in Southeast Asia. Thai Oil, a unit of the country's top energy firm PTT Pcl…
Roc Oil Starts Drilling on Block 09/05 & FARM-OUT OF 40%
Roc Oil (Bohai) Company, a wholly owned subsidiary of Roc Oil Company Limited (ASX:ROC), as operator of Block 09/05, Bohai Bay, Offshore China advises that drilling has commenced on the first exploration well QK11-1-1. Drilling from CPOE Rig…
Fastnet Announces Improvement of Deep Kinsale Option
Fastnet the UK and Irish listed E&P company focussed on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, is pleased to announce that it has entered into an amended exclusive option agreement with PSE Kinsale Energy Limited ("Kinsale Energy")…
Petrovietnam eyes Murphy Oil's Malaysian Assets
A successful bid would make it Vietnam's biggest corporate deal; Kuwait Petroleum Corp unit has bid close to $2 bln for the stake. Petrovietnam has bid for a stake in Murphy Oil Corp's Malaysian oil and gas assets, challenging other suitors including Mitsubishi Corp and Indian state oil companies…
Private Equity Firms Double down on Venari's Offshore Drilling
Gulf of Mexico deepwater oil explorer Venari Resources LLC said on Wednesday it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors. GIC, Singapore's sovereign wealth fund…
PTT Global Seeks Refinery Partner
New refinery will triple capacity to 360,000 bpd from 120,000. Aims to conclude details on financing, partners early 2015. Thailand's PTT Global Chemical Pcl said on Wednesday it is seeking a partner to expand the crude processing capacity of…
Spain: Repsol Cleared for Canary Islands Drilling
The Spanish government has given Repsol the green light to begin a $7-billion oil exploration project off the Canary Islands. Industry Ministry Jose Manuel Soria said last month that Repsol would start prospecting three months after approval was granted.
Bunkerers Aegean Report Strong Q2 Results
Aegean Marine Petroleum Network Inc. has announced its financial and operating results for the second quarter ended June 30th, 2014, outlined here as follows: Second Quarter Highlights Sales volumes of 2,659,620 metric tons. Gross profit of $84.5 million. Operating income of $19.3 million.
Talisman Energy to Sell Kurdistan Assets
Talisman Energy Inc , Canada's No. 5 independent oil and gas producer, said on Wednesday it still plans to sell all or a portion of its exploration properties in Iraq's Kurdistan region despite the conflict in the area and expects to begin a sale process in the next several weeks.
Paradigm Flow Services Doubles Turnover to £10 Million
Rising demand for offshore blockage removal technologies has boosted turnover at Paradigm Flow Services, as the company announces it has almost doubled its figures. The Aberdeenshire-based firm achieved £10.7 million turnover in 2013, nearly twice the 2012 level of £5.4 million.
Gulf Island Wins Arena GoM Rig Construction Contract
Gulf Island Fabrication, Inc. says that, through its subsidiary Gulf Island L.L.C., it has received an award letter from Arena Offshore, LP for the fabrication of two jacket/piles and topsides for Arena’s projects located in the Gulf of Mexico.
Woodside Acquires Exploration Acreage in Gabon
Woodside has acquired a 40% participating interest in an exploration, exploitation and production sharing contract (EEPSC) for Block F15 in the Gabon Coastal Basin. Block F15 is located 140 km off the south-western coast of Gabon and covers over 2,700 km². Water depths range from 2,300 to 3,000 m.
Australian LNG - A Lost Cause?
Recent news headlines on the LNG sector in Australia seem to be centered around its unsustainable rising costs. Woodside Petroleum had to ditch plans last year for its Browse LNG plant, which had gone way over budget at an estimated cost of US$80bn.
Australia Priced Out of LNG Sector? Analysts
Recent news headlines on the LNG sector in Australia seem to be centered around its unsustainable rising costs. Woodside Petroleum had to ditch plans last year for its Browse LNG plant, which had gone way over budget at an estimated cost of US$80bn.