Latest news
Russian Oil Companies Plan Significant Drilling Cuts For 2021
Russian oil producers who have already reduced their drilling activity by a third this year may cut it further by 20 percent, according to the chief executive of a major oilfield service provider.
read more... 16/10/2020
Africa Is The Undeniable Final Frontier For Oil
The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. Exploration is not dead. It is especially not dead in Africa—a hot spot in oil and gas before the pandemic.
read more... 24/09/2020
Daily (01.06.2020): WTI crude hovered above $35 a barrel on Friday, gaining 6.7% for the week
Crude oil futures gained ground in the last trading day of the month after the release of the EIA’s report showing a further drop in oil well drilling in the United States. Hence, Brent crude for July delivery rose slightly to $35.33 a barrel, while, the more active August contract settled at $37.84, edging $1.81 higher, or roughly 5%. WTI crude for July delivery settled at $35.49 a barrel, surging $2.24, or 5.3%.
read more... 01/06/2020
Equinor slashes investment, spending in $3 billion coronavirus package
Norwegian oil firm Equinor will cut investments, exploration drilling and operating costs as part of a $3 billion plan to help the company weather the coronavirus crisis and low oil prices, it said on Wednesday.
read more... 25/03/2020
Maersk Drilling secures one-well contract offshore Egypt
Maersk Drilling has been awarded a one-well contract for the semi-submersible rig Maersk Discoverer offshore Egypt. The contract has an estimated duration of 21 days and is expected to commence in March 2020, in direct continuation of the rig’s current contract. The contract value is approximately USD 3.8m.
read more... 05/03/2020