News & Events

Jan 02

Oceaneering Wins New North Sea Inspection Contract from Petrofac

Oceaneering International has secured a three-year provision of inspection enactment services contract with Petrofac’s engineering and production services division in the Western Hemisphere, gro...

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Jan 02

CNOOC Signs Strategic Cooperation Agreements With Nine IOCs

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with nine international oil companies including: Chevr...

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Jan 02

India Circumventing U.S. Oil Sanctions on Iran

India will use escrow accounts of five Iranian banks held with UCO Bank to deposit money for oil purchases from the Middle East producer to overcome U.S. sanctions, according to people with knowledge...

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Jan 02

China Inks Deals with Shell, Majors as Xi Signals Open Trade

China signaled its openness for business with a raft of deals that’ll give oil majors including Royal Dutch Shell new opportunities to develop fields in partnership with the nation’s bigge...

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Jan 02

Exxon Becomes Permian Drill Chief to Combat Falling Oil Output

Exxon Mobil Corp. has overtaken rivals to become the most active driller in the Permian Basin, showing the urgency with which the world’s biggest oil company by market value is pursuing U.S. sha...

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Jan 02

Saudi Arabia Optimistically Estimates 2019 at $80/bbl and 10.2 MMbopd

Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative fi...

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Jan 02

Petrofac Secures Contract with Petroleum Development Oman

Petrofac has been awarded a contract worth around $115 million for the development of the Qarn Alam Co-Generation Project, located 350 km southwest of Muscat, Oman. This is the latest in a series of...

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Jan 02

Qatar Petroleum Signs Agreement to Acquire Interest in Three Offshore Oil Fields in Mexico

Qatar Petroleum entered into an agreement with Eni to acquire a 35% participating interest in three offshore oil Fields in Mexico. The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fie...

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Jan 02

Dana Gas receives $324m from all its operations in 2018

Dana Gas announced total 2018 cash collections from operations in Egypt, the Kurdistan Region of Iraq and Sharjah in the UAE of $324mn. Further to the $44mn in collections from Egypt that were alread...

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Jan 02

Oil prices see first annual decline since 2015

In 2018, the oil market was somewhat unpredictable. When oil prices rocketed to $86 per barrel of Brent crude in October, some analysts predicted that $100 oil was on the horizon. Instead, the price c...

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