Oman is seeking to raise money off the back of its largest oil block, as the cash-strapped Gulf nation looks for new ways to tame its budget deficit and steady a reeling economy. SourceContinue Reading
The monthly Oilfield Services and Equipment Employment Report, compiled and published by PESA, estimates job losses due to pandemic-related demand destruction now total 92,302. OFS employment is down 101,087 jobs since October 2019. SourceContinue Reading
Three platforms Tern, Cormorant Alpha and Harding will initially use the AI predictive analytics technology, with an option to add a fourth platform, North Cormorant once sensors and communications are installed. SourceContinue Reading
Optimism comes despite a renewed expansion in Libyan supply. Production topped 1 million barrels a day over the weekend, compounding the headache for OPEC and its allies as they prepare to meet at the end of the month to discuss output policy. SourceContinue Reading
Libya’s resurgence — it was producing less than 100,000 barrels a day in early September — has taken oil traders by surprise and weakened prices just as renewed coronavirus lockdowns in Europe and accelerating cases in the U.S. stifle energy use. SourceContinue Reading
Alexander Novak, 49, has represented Russia in talks with the Organization of Petroleum Exporting Countries, helping to forge historic links with the cartel, and will continue to be responsible for that relationship, said a government official familiar with the situation. SourceContinue Reading
“This is a unique opportunity for us to partner with a well-capitalized and highly respected management team to accelerate development at Marten Hills,” said Alex Pourbaix, Cenovus President and CEO. SourceContinue Reading
AIQ, Schlumberger and Group 42 signed a strategic framework agreement to collaborate on the development and deployment of artificial intelligence, machine learning and data solutions for the oil and gas industry. SourceContinue Reading
“With the consensus of everybody, we could navigate with this agreement and tweak this agreement, subject to what we may see in the future,” Saudi Energy Minister Prince Abdulaziz Bin Salman said at a virtual session of the Abu Dhabi International Exhibition and Conference on Monday. SourceContinue Reading
If Democratic nominee Joe Biden prevails in the race for the White House, the commission will again see a reshuffle, with Democratic Commissioner Richard Glick likely to be named chairman. SourceContinue Reading
