Initial findings from a study conducted by international research consultancy Wood Mackenzie confirm that the high cost of a proposed new rule governing oil and gas operations in the Gulf of Mexico could significantly reduce domestic energy production and curtail U.S. economic activity, energy supplies, and state and federal offshore revenues.
[Read more…] about Well control rule could halve drilling
Shell turns on taps at Corrib gas field offshore Ireland
First gas has flowed from Shell’s Corrib field, 83 km (51.6 mi) offshore northwest Ireland.
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GE bags ‘first ever global maintenance agreement’ for entire FPSO fleet
GE Oil & Gas has been awarded what it claims is the first ever global maintenance agreement for an entire fleet of FPSOs owned by the world’s largest provider of FPSO vessels, SBM Offshore.
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Shell shareholders vote in favor of Shell-BG merger
Royal Dutch Shell has announced the poll result from its General Meeting held on Wednesday Jan 27, at The Hague, The Netherlands.
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ExxonMobil: Energy demand to increase by 25%
From 2014 to 2040, global energy demand will increase by 25% due to population growth and economic expansion, according to ExxonMobil’s 2016 edition of The Outlook for Energy.
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McDermott wins subsea installation gig from Anadarko
McDermott International has been awarded a subsea umbilical and flowline installation contract by Anadarko Petroleum Corporation in support of its Phase II development of the Caesar/Tonga field located in the U.S. Gulf of Mexico.
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Chevron started gas production in China
Chevron Corporation announced that its fully-owned subsidiary Unocal East China Sea, Ltd. began natural gas production from the first stage of the Chuandongbei Project in southwest China.
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Burullus commissions Subsea 7 for West Nile Delta tie-ins
Burullus Gas Co. has contracted Subsea 7 for platform extension and tie-in works for the Taurus and Libra fields in the Egyptian sector of the Mediterranean Sea.
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Schlumberger in $1bn loss, 10,000 job cuts
Oil services giant Schlumberger posted more than a US$1 billion loss in its Q4 and full year 2015 results, in addition to a further 10,000 job cuts, bringing its workforce reduction to some 30,000 for the year.
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Oil rises 6 percent but set for biggest January fall in 25 years
Oil rose by more than 6 percent on January 22, as a cold snap boosted demand for heating oil across the United States and Europe, but was still mired near its lowest since 2003 and set for its largest drop in January in at least 25 years.
[Read more…] about Oil rises 6 percent but set for biggest January fall in 25 years
