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Deals this week: China Petrochemical Corp, Schlumberger Limited, Ocean Rig UDW
29 April, 2016
China Petrochemical Corp through its subsidiary Sinopec Group Overseas Development (2016) Limited has announced a private placement to raise $1,000m....
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McDermott completes Otis subsea tieback for LLOG Exploration Offshore in Gulf of Mexico Friday, April 29, 2016 McDermott International has completed installation scope related with the Otis development in the Gulf of Mexico on behalf of LLOG Exploration Offshore....

M&As this week: Suncor Energy, Seadrill, and EV Friday, April 29, 2016 Suncor Energy Inc is raising its stake in Syncrude project to 17% by acquiring an additional 5% interest in Syncrude Canada Ltd, a subsidiary of Murphy Oil Corporation....

Report: Pemex Exploracion y Produccion troubles add to fall in Mexico’s Costero field production Friday, April 29, 2016 Production from Mexico's Costero project has been on the slide since peaking in 2011, despite the field being an important asset of the Macuspana-Muspac region and accounting for 27% of the...

Oil prices rise 3% as dollar weakens Friday, April 29, 2016 There has been a 3% increase in oil prices after the dollar value weakened following the US Federal Reserve's announcement that interest rates would remain unchanged....

Eco Atlantic receives approvals for three licences offshore Namibia Thursday, April 28, 2016 Eco (Atlantic) Oil & Gas has received approvals from the Namibia Ministry of Mines and Energy relating to the Cooper (PEL 030), Guy (PEL 034) and Sharon (PEL 033) licences in offshore Namibia....

Oil prices pull back as traders secure profits Thursday, April 28, 2016 Crude oil prices have dropped after traders locked-in profits following April's earlier rises....

Wood Group secures $500m contract with BP-operated projects, offshore Azerbaijan Thursday, April 28, 2016 Wood Group has secured a $500m contract with BP-operated projects to deliver services to eight offshore platforms off the coast of Azerbaijan....

Mubadala drills two development wells at Manora oilfield in Gulf of Thailand Wednesday, April 27, 2016 Abu Dhabi-based Mubadala Petroleum has completed drilling of the MNA-15 and MNA-16 development wells at the Manora oilfield in the Northern Gulf of Thailand....

Oil prices gain due to weak dollar Wednesday, April 27, 2016 There has been a rise in oil prices primarily due to a weak dollar and fall in US supply....

Aker Solutions and ABB to team-up on subsea oil and gas solutions Wednesday, April 27, 2016 Norway-based Aker Solutions and Swiss company ABB are set to collaborate to help improve industrial efficiency in subsea oil and gas production worldwide....

Ocean Rig acquires ultra deepwater drillship Cerrado Tuesday, April 26, 2016 Cyprus-based offshore drilling contractor Ocean Rig's subsidiary has acquired the sixth-generation ultra deepwater drillship Cerrado for $65m....

Shell to close BG Group offices in UK by year-end Tuesday, April 26, 2016 Shell has announced plans to close offices of its acquired BG Group in the UK by the end of this year as part of its voluntary redundancy...

Crude oil prices dip as Saudi Arabia and Iran increase production Tuesday, April 26, 2016 Crude oil prices have dropped due to Saudi Arabia and Iran both increasing output....

BSEE and University of Alaska in US complete offshore research study Monday, April 25, 2016 The US Bureau of Safety and Environmental Enforcement (BSEE) has completed a study that examined the ability of existing offshore structural designs to survive sea ice demands under extreme...

Apache awards Callater development contract in Aberdeen to Subsea 7 Monday, April 25, 2016 Apache North Sea has awarded engineering, procurement, installation and commissioning (EPIC) contract to Subsea 7 as part of its Callater development 335km north-east of Aberdeen....

Oil prices drop after traders cash-in recent rises Monday, April 25, 2016 Oil prices have fallen after traders cashed-in following three weeks of rises, with a strong dollar late last week also contributing....

DeepOcean to provide services for Repsol’s Varg field Friday, April 22, 2016 Norway-based DeepOcean has been selected to provide services including engineering, procurement, removal and disposal (EPRD) of Varg Subsea facilities by Repsol Norge....

M&As this week: Rockhopper Exploration, Chevron, Det norske oljeselskap Friday, April 22, 2016 Rockhopper Exploration plc has agreed to acquire Beach Petroleum (Egypt) Pty Ltd (Beach Egypt) for $20.5m. The company will use its existing cash resources to fund the acquisition....

Oil prices rise as market sentiment turns positive Friday, April 22, 2016 Oil prices have risen as markets gained confidence despite continuing supply glut worries....

Deals this week: Callon Petroleum Company, Indian Oil Corporation, Hurricane Energy Friday, April 22, 2016 Callon Petroleum Company has announced the pricing for the public issue of 22 million shares to raise $187m. An additional 3.3 million shares are also available for underwriters through...


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