The head of oil trader Gunvor Group Ltd. expects prices to remain stuck where they are as draws of excess stocks slow amid rising coronavirus cases in Europe. SourceContinue Reading
Oil is poised to close out a fourth quarterly advance on Wednesday, but the past week has seen volatility climb amid the Suez Canal blockage. While fuel consumption is rising in many parts of the world, risks remain, with the head of the U.S. Centers for Disease Control and Prevention warning of “impending doom” as...Continue Reading
The coalition led by Saudi Arabia was widely criticized three weeks ago when it rebuffed calls to revive some of the crude production halted during the pandemic. As OPEC prepares for another decision on oil output, the producers believe their defiantly cautious approach is paying off. SourceContinue Reading
The field test, completed on behalf of a major operator, was comprised of more than 300 operating hours with an average of more than 18 pumping hours per day, including the completion of 172 stimulation stages at rates up to 22 barrels per minute. SourceContinue Reading
In an agreement that further expands and complements Baker Hughes CCUS technology portfolio offering to strategically position for new energy frontiers, the Mixed Salt Process technology enables significant carbon capture separation cost reductions, providing cost savings for energy and industrial operators to decarbonize operations. SourceContinue Reading
The Ever Given is now fully afloat, the Suez Canal Authority said in a statement. Tug boats hauled the giant vessel away from the side of the waterway, where it had been lodged since last Tuesday. SourceContinue Reading
Girish Saligram, Weathrford’s President and CEO said “We believe this is the right time in our reemergence to relist on the NASDAQ stock exchange and that doing so will enhance long-term shareholder value by improving the Company’s visibility, expanding liquidity in our ordinary shares, and providing a broader institutional investor base the opportunity to invest...Continue Reading
KCA Deutag has secured contracts worth around $110 million for its land drilling business in Pakistan, Russia, Kurdistan, south-eastern Europe and Germany. The new business is made up of a mix of contract wins, allowing the company to mobilize stacked rigs, and contract extensions. SourceContinue Reading
Total SE is evacuating most of the remaining employees from its liquefied natural gas project in northern Mozambique as insurgents attacked a town nearby, throwing Africa’s biggest private investment into disarray. SourceContinue Reading
Beijing plans to invest in Iran while buying oil from the Islamic Republic, further straining its relationship with the U.S. which has already been frayed by China’s imports of covertly-shipped Iranian crude. SourceContinue Reading
