Stay up to date with the latest news and updates from the oil industry.
DNV has recently established the Greater China Offshore Committee. Mr Zhou Shouwei, Vice General Manager of CNOOC and Academician of the Chinese Academy of Engineering, accepted DNV’s invitation to be the Chairman of the committee.
An overview of recent developments in carbon capture and storage
GAIL India’s profits are up; the company invests heavily in pipelines in the next three years
Statoil has tested the world’s first rotary steerable liner while drilling system, which was jointly developed by Statoil and Baker Hughes Inc.
InterOil Corp. has announced that drill stem test (DST) 2 at the Antelope-2 well in Papua New Guinea showed a 15% increase in condensate to gas ratio (CGR) in comparison to DST 1.
Geotrace has completed of one of the world’s largest onboard data processing projects for BP’s Sirt Basin concession off the coast of Libya.
The global carbon market saw 82 billion t of CO2 equivalent exchange hands in 2009, and increase of 68% on the previous year. Despite this, however, the value of the global carbon market remained virtually unchanged on 2008 figures due to low carbon prices.
The south east coast of England will see a large expansion of offshore wind energy development as the go-ahead has been granted for companies to progress renewable energy sites.
Trinidad Drilling Ltd has agreed to resume the construction of six new contracted drilling rigs that were delayed earlier in 2009 due to weak industry conditions.
Woodside Petroleum Ltd. has signed an agreement to supply Osaka Gas with LNG, they are also in discussions with other potential customers in the region.
Bucyrus International Inc. has announced an agreement to buy the mining equipment business of Terex Corp. for US$ 1.3 billion in cash. The acquisition will create a premier supplier of mining equipment with an addressable market of US$ 30 billion and about 10,000 employees in 100 locations around the world.
Cold weather has boosted prices for LNG, drawing extra tankers to the US.