PGS profits slashed in Q3
Petroleum Geo-Services (PGS) has seen its profits slashed in the third quarter as it suffered from a weak seismic market and falling oil prices.
Petroleum Geo-Services (PGS) has seen its profits slashed in the third quarter as it suffered from a weak seismic market and falling oil prices.
The chief executive and deputy of Russia’s Vnukovo airport have both resigned following the death of Total boss Christophe de Margerie. In a statement the airport said it had accepted the resignations of Andrei Dyakov and his deputy Sergei Solnstev.
South American focused Baron Oil has won approval from state-owned Perupetro to convert its third work phase from seismic into a drilling obligation after additional hydrocarbon discoveries. The Peruvian oil and gas provider also approved the company’s Force Majeure (FM) clause, which will be invoked on Block Z-34 in the country.
Libya’s OPEC governor called for the group to reduce oil output by at least 500,000 barrels a day as its biggest members discount supplies to defend market share rather than cut production to boost prices.
Tullow Oil has discovered hydrocarbon shows at its Kodos-1 exploration well in Kenya. It has been undertaking a series of exploration and appraisal activities in Blocks 10BB and 13T onshore in East Africa.
Atlantic-focused explorer Chariot Oil will not extend its current exploration licence in the Northern Blocks of offshore Namibia. The company said they will not apply for further use of blocks 1811A&B when the license ends on October 26.
GDF Suez and BP have made a new oil discovery in the UK Central North Sea.
Royale Energy has confirmed a new high rate well in California’s Sacramento basin. The McKinney well will now be placed on production for seven to 20 days before being opened an additional 30 feet.
Donnycreek Energy has entered into an arm’s length agreement with Contact Exploration to merge and create a new corporation. The two companies will become Kicking Horse Energy and the merger will consolidate the interests of Donnycreek in Alberta, Canada.
Songa Offshore has cut some financial liabilities in relation to its Songa Venus bareboat charter agreement. The company sold its two drilling rigs in South East Asia, the Songa Venus and Songa Mercur, to Opus Offshore in April.
Oil giant BP has awarded engineering contracts for its $12billion expansion of its Tangguh Liquefied Natural Gas (LNG) development in Indonesia. The contracts are for the onshore Front End Engineering and Design (FEED) to a number of partners including PT Tripatra Engineers and Contractors.
Foster Wheeler has been awarded an engineering, procurement and construction (EPC) contract by ExxonMobil Petroleum for a refinery upgrade in Belgium. The scope of the company’s work is expected to be completed in December 2016 for the Antwerp Northwest Europe Resid Upgrade Project.
Mexico’s state-owned oil firm Pemex has evacuated 15,000 workers from platforms in the Campeche area of the country ahead of a storm. Pemex said its technical analysis group for emergency response had recommended the evacuation.
Russia and Ukraine failed to agree on future payments delaying a hotly anticipated gas deal between the two countries.
An independent oil and gas consulting firm has confirmed there is “significant” gas potential at the Kechoula structure in Morocco. GLJ Petroleum consultants carried out the evaluation work for PetroMaroc of the Undiscovered Petroleum Initially in Place (UPIIP)
Australian oil and gas giant BHP Billiton has reported a 9% increase in production during its third quarter results for 2014. Petroleum production increased by 7% to 67.4MMboe (Million Barrels of Oil Equivalent) as onshore US liquids volumes rose by 49% to 11.5 MMboe.
Libya’s warring factions have pledged to keep the North African country’s crude flowing, putting pressure on other OPEC nations to curb output when the group supplying 40% of the world’s oil meets next month.
Well testing will now be carried out at Raptor-1 to determine the hydrocarbon type, column, flow rate and reservoir quality. Raptor-1 is 12km west of Interoil’s Elk-Antelope gas field.
Shell has made a major gas find offshore Gabon in West Africa.
Stockpiles of oil from Alaska’s North Slope have surged to a five-year seasonal high as tanker maintenance slows loadings, forcing the grade to trade at a discount to U.S. crude for the first time since 2010.
A successor to Christophe de Margerie, the outspoken Total SA boss who died in a Moscow plane crash, will have to contend with a slump in the company’s output and the failure of its exploration strategy.
JKX Oil and Gas has seen potential gas signs at the Elizavetovskoye field in Ukraine. The company said the testing of well E-303 had indicated a gross pay of 167 metres, spread over eight reservoir horizons.
Respol has confirmed an oil find offshore Angola.
French oil giant Total said it will continue to "move froward" following the death of chief executive officer Christophe de Margerie.
Iran, eager for an end to sanctions that have restricted its oil exports, is shunning its image as OPEC’s price hawk by avoiding calls for an emergency session of the group to support prices