More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region. SourceContinue Reading
Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production. SourceContinue Reading
The world’s biggest oilfield-services provider said its suspension of future investment in Russia, a market that has represented about 5% of its total sales, means it can shift its own spending to other parts of the world. SourceContinue Reading
The global data business in the oil & gas market is projected to rise at a compound annual growth rate of 16.5% for the next decade, rising from a valuation of $31.6 billion in 2022 to $145.9 billion by 2032. SourceContinue Reading
Discovered via a trio of wells drilled by the Valaris DS-12 drillship in 2019, the high-quality gas at BirAllah represents the largest deep water gas discovery of 2019 and the third largest overall. SourceContinue Reading
Nigeria expects to raise its daily crude production closer to its OPEC quota in about two weeks as authorities re-open wells that had to be shut to keep criminals at bay. SourceContinue Reading
MCE Deepwater Development returned to its in-person conference in London this month. By all accounts, it exceeded its goal of bringing together technical experts from across the global industry. SourceContinue Reading
The National Ocean Industries Association announced that TechnipFMC and Aker Solutions are the winners of the 2022 NOIA Safety in Seas Awards competition. SourceContinue Reading
KCA Deutag, a global drilling, engineering and technology provider, secured contract extensions and options totaling over $170 million, with the majority focused on extensions with existing clients across core markets in the Middle East. SourceContinue Reading
Russia’s second-largest oil producer Lukoil PJSC said Chief Executive Officer Vagit Alekperov will resign, in the latest sign of growing pressure on the nation’s energy industry since the invasion of Ukraine. SourceContinue Reading
