Discovery

How shale oil is reshaping the US energy landscape - by AJOT

The recent shale revolution has brought about a powerful transformation in the country’s economic profile; creating jobs, driving new prosperity and also bringing us closer to true energy independence.

Advanced drillships become burden for owners as business dries up

Reuters | March 29, 2015 | Energy | Discovery

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Read More »

Permian Basin crude output at 2015 high in latest week

Reuters | March 26, 2015 | Energy | Discovery

Crude output in the Permian Basin rebounded close to record levels in the latest week as the biggest U.S. onshore oilfield extends gains after cold weather disrupted production and the number of rigs fell, data showed. Read More »

Canada’s New Brunswick province bans fracking, plans study

Reuters | March 26, 2015 | Energy | Discovery

Lawmakers in New Brunswick voted on Thursday to prohibit fracking in the eastern Canadian province, committing to study the controversial method of extracting oil and gas for one year before reconsidering the ban in 2016. Read More »

Rosneft cancels rig contract with North Atlantic Drilling

Reuters | March 25, 2015 | Energy | Discovery

Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill’s North Atlantic Drilling Ltd, the Norwegian offshore driller said. Read More »

Seadrill unit says Rosneft contract difficult to conclude as scheduled

Reuters | March 16, 2015 | Energy | Discovery

North Atlantic Drilling warned on Monday it would be difficult to conclude as scheduled a contract with Russia’s Rosneft due to weak market conditions and the challenging political environment. Read More »

BP makes second significant gas discovery in Egypt’s East Mediterranean Sea

AJOT | March 09, 2015 | Energy | Discovery

BP Egypt announced today another important gas discovery in the North Damietta Offshore Concession in the East Nile Delta. Read More »

Top oil drillers face years of pain, get a grip on cost

Reuters | February 26, 2015 | Energy | Discovery

The world’s biggest offshore drillers reported plunging earnings and orders on Thursday but managed to get a grip on costs to improve their chances of riding out a sectoral crisis that could last several more years. Read More »

Despite falling oil prices majors are still showing high interest in the shallow waters of the Gulf

AJOT | February 09, 2015 | Energy | Discovery

In 2013 the Mexican government made the announcement that it would be opening its energy sector to international investment. In 2014 the Mexican foreign Investment Law (FIL) went under significant reform and for the first time in over 70 years it became possible to enter the Mexican energy market. Read More »

Schlumberger buying minority stake in Russia’s Eurasia Drilling

AJOT | January 21, 2015 | Breakbulk & Projects | Projects | Energy | Discovery

Schlumberger will spend about $1.7 billion for a minority stake in Russia’s Eurasia Drilling Read More »

Maersk Oil postpones decision on Greenland investment

Reuters | January 07, 2015 | Energy | Discovery

Maersk Oil, a unit of Denmark’s A. P. Moller-Maersk, has postponed a decision on whether to drill for oil at a exploration licence off the coast of Greenland. Read More »

Maersk says will continue to operate in Russia as planned

Reuters | December 18, 2014 | Energy | Discovery

Denmark’s A.P. Moller-Maersk said its four subsidiaries with activities in Russia continue to operate as planned despite the recent sharp drop in oil price and the rouble’s collapse. Read More »

Russia’s Rosneft looks for alternative ways to explore Arctic

Reuters | November 18, 2014 | Energy | Discovery

Rosneft, Russia’s top oil producer, is looking for alternative ways to develop Arctic hydrocarbon resources after U.S. company ExxonMobil suspended cooperation, Russian Natural Resources Minister Sergei Donskoi said on Tuesday. Read More »

U.S. crude oil production tops 8.6 million bbl. in August

AJOT | November 17, 2014 | Energy | Refinery | Discovery

Crude oil and lease condensate production in the United States exceeded 8.6 million barrels per day (bbl/d) in August, a production volume not observed since July 1986, according to EIA's latest Petroleum Supply Monthly. Read More »

BHP Billiton and Pemex Sign Agreement to Exchange Deepwater Expertise

AJOT | September 28, 2014 | Energy | Discovery

Companies seek to build a mutually beneficial long-term relationship. BHP Billiton has exceptional history and capability in offshore exploration and production Read More »

BHP Billiton to cut capital spending in its petroleum division

George Lauriat | September 26, 2014 | Energy | Discovery | International Trade | Ports & Terminals | Ports | Wet Bulk Port | Dry Bulk Port

BHP Billiton, the Australian mining and oil giant, will cut capital spending in its petroleum division by $279 million in 2015, the company announced in its annual report. The trend follows that of other major oil and gas companies. Major producers including Shell, Chevron and Total have all announced plans this year plans to pull back on capital expenditures. Read More »

Denmark’s Maersk Drilling CEO sees slow deepwater rig market in 2014, 2015

Reuters | September 24, 2014 | Energy | Discovery

Maersk Drilling Chief Executive Claus Hemmingsen talked to Reuters on the sidelines of A.P. Moller-Maersk’s annual capital markets day. Read More »

Maersk Drilling wins two year extension in Angola worth $387 million

Reuters | September 24, 2014 | Energy | Discovery

The head of Maersk Drilling said on Wednesday the A.P. Moller-Maersk unit has won a two-year extension for its Maersk Deliverer deepwater rig worth $387 million. Read More »

Russia’s Rosneft, U.S. ExxonMobil continue drilling in Kara Sea till Oct 10

Reuters | September 23, 2014 | Energy | Discovery

Russia’s Rosneft and U.S. ExxonMobil are continuing to drill in the Kara Sea and plan to stop work by Oct. 10, Russian Deputy Energy Minister Kirill Molodtsov said on Tuesday. Read More »

Norway government to outline Sverdrup project plan in early 2015

Reuters | September 22, 2014 | Energy | Discovery

The Norwegian government said on Monday it would outline plans in spring next year regarding the electrification of the $20 billion Johan Sverdrup oil field in the North Sea. Read More »

Petrobras seeks more info from SBM Offshore before taking more oilship bids

Reuters | September 18, 2014 | Energy | Discovery

SBM Offshore NV, the world’s largest leaser of oil production ships, must provide more information and clarity on a range of issues before Brazil’s state-run oil company Petrobras allows it to bid for new contracts, a top official said on Thursday. Read More »