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The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the UK and the U.S., a figure which could double by the end of the year. The recruitment drive comes even as thousands of other employees have left the company amid a wider restructuring. View the full article
Oil and gas producers Tailwind Energy Ltd., Serica Energy Plc, Ithaca Energy Ltd., EnQuest Plc and newcomer Waldorf Production UK Ltd. have been considering binding offers for some or all of the assets, according to people familiar with the matter. View the full article
Kaskida will be bp’s sixth hub in the Gulf of Mexico, featuring a new floating production platform with the capacity to produce 80,000 bopd from six wells in the first phase. Production is expected to start in 2029. View the full article
Saipem will operate the vessel and will provide the crew to perform the marine activities for the Shah Deniz and Azeri-Chirag-Gunashli fields, located offshore Azerbaijan. The consortium’s responsibilities include engineering, procurement, construction and installation of subsea infrastructures and life-of-field services. View the full article
Engineering work for the Kaskida FPU has already begun, with Audubon designing the topside and EXMAR Offshore designing the hull. View the full article
This move is part of bp’s broader strategy to cut emissions and enhance efficiency through advanced infrastructure, including the development of centralized processing facilities and innovative drilling technologies. View the full article
Energy giant BP sees a strong recovery in global crude demand and expects it to last for some time, with U.S. shale production being kept in check, according to CEO Bernard Looney. View the full article
BP’s energy transition plan will receive a boost from rising oil prices, and the company is already winning back investors after a difficult year, Chief Executive Officer Bernard Looney said. View the full article
OGUK today announced the details of its Annual Conference. The three-day virtual conference entitled ‘Industry in Transition: Driving A Net Zero Energy Future’ will take place online between June 1-3, 2021. View the full article
BP’s board urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This, despite pledging to work with the group last year to draft such a proposal. View the full article
Wood, the global consulting and engineering company, has been awarded a multi-region engineering services contract by bp to support efficient and safe energy production through the provision of asset repairs, modifications and enhancements. View the full article
“When you consider the 20-gigawatt target we’ve laid out until 2025, it’s a significant move forward,” Dev Sanyal, BP’s head of gas and low-carbon energy, said in an interview. View the full article
The regional roll-out has been agreed following successful field trials of the system on bp’s Clair Ridge platform and has been adopted to ensure safer Red Zone management for various hazardous operations. It is the first time the technology has been used for well interventions. View the full article
Governor Greg Abbott signed a bill into law on Monday banning state investments in businesses that cut ties with the oil and gas industry. The underlying message, according to one of the most powerful energy regulators in the state, is simple: Boycott Texas, and we’ll boycott you. View the full article
The partnership will allow for centralized fleet monitoring with real-time vessel tracking and streamlined reporting. The data will then be integrated into Opsealog’s Marinsights platform to deliver insights that will help BOURBON optimize vessels’ operational profiles to reduce fuel consumption and associated GHG emissions, while also helping reduce operating costs. View the full article
After mooring lines installation in June, towing and hook up in July, Bourbon Subsea Services completed the offshore installation of the 3,6 MW TetraSpar Demonstrator Floating Wind Turbine at Metcentre Test site in Norway, by laying and connecting the power cable earlier this week. The wind turbine will be commissioned in the coming weeks. View the full article
On Monday, Exchequer Secretary to the Treasury, James Murray MP, co-hosted a Fiscal Forum at Offshore Energies UK’s Aberdeen offices with senior industry leaders. The impact of changes to further extend and raise the Energy Profits Levy (EPL), or windfall tax, and the potential removal of critical capital allowances for the sector were central to discussions.
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Offshore oil contractor Borr Drilling Ltd. expects almost a third of the world’s fleet of shallow-water rigs to be retired in the coming years because of their age, leading to higher daily leasing rates. View the full article
Boris Johnson urged the oil majors BP Plc and Shell Plc to invest “massively” in renewables to shore up the U.K.’s energy security, as soaring prices squeeze household budgets. View the full article
Boris Johnson said he wants to keep North Sea oil and gas flowing to help tackle the rising cost of living and urged companies to boost investment. View the full article
Bonanza Creek Energy and Extraction Oil and Gas will combine in an all-stock merger of equals, a deal worth about $2.6 billion, the companies announced. The combined company will be called Civitas Resources, Inc. and will be the largest pure-play energy producer in Colorado’s Denver-Julesburg (DJ) Basin. View the full article
Brazilian President Jair Bolsonaro said Thursday that he wants to privatize Petrobras, the state-controlled oil company that is under political pressure to lower fuel prices. View the full article
Bolivian President Luis Arce announced the discovery of a 1.7 Tcf natural gas reserve near La Paz. This discovery, the largest since 2005, is expected to become the third-largest producing field in Bolivia and is expected to produce first gas in two to three years. View the full article
Block Energy plc, an exploration and production company focused on Georgia, announced the commencement of Project II of its three-project strategy, which will re-develop the Patardzeuli Middle Eocene reservoir. View the full article
Block also increased oil production to 151,184 bbls and gas production to 283 MMcf, resulting in an average daily production rate of 543 boed. Additionally, the company raised $2 million via a secured loan to undertake drilling operations on Project I and completed the Project IV farm-out, achieving a carried work program valued at over $3 million (gross). View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
