Industry News

Wood and NERA announce partnership to develop world-first prediction tool

Wood and NERA (National Energy Resources Australia) are pleased to announce a new funding partnership arrangement led by Wood, in collaboration with the University of Western Australia (UWA), to support the development of an online hydrate blockage prediction model for operating gas condensate systems.

Exxon, Chevron to face climate change pressure from investors

Exxon Mobil and Chevron’s unwillingness to venture beyond their core oil and gas business will face a test Wednesday when shareholders vote on climate change proposals at both oil companies’ annual meetings.

World's dirtiest air needs infusion of nat. gas amidst new leadership

One of the biggest challenges facing Indian Prime Minister Narendra Modi as he begins his second term is ensuring clean air in a country that’s home to some of the most polluted cities in the world.

Analysts slash Seadrill's target price by 88%

Amid mounting recovery concerns, Seadrill Ltd. plunged to their lowest since the embattled drilling company emerged from bankruptcy less than year ago, when Carnegie Investment Bank AB recommended selling their shares and slashed the price target by 88%.

South Australia offers Cooper-Eromanga and Otway basins acreage licensing

Five (5) new petroleum exploration licenses (PEL) in the Cooper Basin and three (3) new petroleum exploration licenses in the Otway Basin are being offered by the South Australian Government on the basis of work program bidding.

Heavy oil shortage hinders U.S. refiners, just as summer driving begins

A global shortage of heavy crude will create hurdles for America’s key refining belts just as they ramp up gasoline production for the summer.

Oceaneering’s advanced vessel christened before industry crowd

Just within the last two months, Oceaneering took deliver of Ocean Evolution, which is an advanced, U.S.-flagged, subsea construction vessel.

Natural gas beat coal in second biggest coal-producing state in U.S.

The U.S. has quietly passed another landmark in the transformation of U.S. energy production.

Ukraine announces massive licensing rounds in 2019

Ukraine has outlined terms for a series of oil and gas licensing rounds with acreage of nearly 25,000 km2. At this moment, 35 onshore and 1 offshore blocks have been officially opened for transparent competitive bidding.

Shell starts production at Appomattox in the GOM

Royal Dutch Shell announced that production has started at Appomattox floating production system months ahead of schedule, opening a new frontier in the deep-water U.S. Gulf of Mexico.

Guyana investigating offshore leases controlled by Exxon, Tullow

Guyana’s anti-corruption agency is investigating how exploration rights were awarded in the world’s biggest new deepwater oil region, including those now controlled by Exxon Mobil and Tullow Oil.

Yamal LNG spot volumes on the rise, adding to oversupply

Liquefied natural gas (LNG) available for spot purchase from Russia’s Yamal plant is climbing as companies with long-term contracts take their time to ramp up purchases, industry sources said, adding to oversupply in the global market.

Uniper tests interest in its German LNG import project, seeks partner

Germany’s Uniper started to test the interest of gas companies in using its proposed liquefied natural gas (LNG) terminal in Germany and said it was also seeking a partner in the company operating the terminal.

Israel's Oil Refineries says MTBE supplies halted

Israel’s Oil Refineries (ORL) said its supply of MTBE, a needed fuel additive has been halted and it was searching for alternative sources.

KBR awarded FEED for Sonatrach/ Cepsa JV project

HOUSTON – KBR, Inc. announced that it has been awarded a contract by Sonatrach and Cepsa to provide Basic Engineering Design (BED) and Front End Engineering Design (FEED) for the Rhoude el Krouf Field (RKF) redevelopment in Algeria.

Texas environmentalists plan lawsuit against Valero for pollution

Three Texas environmental groups notified Valero Energy Corp of plans to file a lawsuit under the U.S. Clean Air Act for pollution at the company’s Port Arthur, Texas, refinery, the organizations said.