ExxonMobil is proceeding with a long-term oil development in Argentina’s Bajo del Choique-La Invernada block. The project is expected to produce up to 55,000 oil-equivalent barrels per day within five years and will include 90 wells, a central production facility and export infrastructure connected to the Oldeval pipeline and refineries.
In China the state frequently meddles in the marketplace to smooth out disruptions and ease any undue burden on the consumer.
Crude oil remains the world's leading energy source. The value of the total annual production of the global oil industry in 2018 was around 2 trillion US dollars. A flourishing black market is not surprising. Fossil fuels worth around 133 billion US dollars are stolen every year [1].
McDermott International and Baker Hughes, a GE company have announced today that they have been awarded subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment contracts by BP for the Greater Tortue Ahmeyim natural gas project, located offshore Mauritania and Senegal.
Noble Energy is looking to unload pipeline operator Noble Midstream Partners to focus on core operations and maximize profits, according to people familiar with the issue.
Both Noble Energy and Noble Midstream Partners did not respond to request for comment.
Noble Midstream Partners has a market value of $1.6 billion.
Europe's leading pipeline conference and exhibition, the Pipeline Technology Conference (ptc) has been held successfully from 18 to 21 March 2019 in Berlin, Germany.
ENGIE announces that the consortium in which it holds a majority stake has won the competitive bidding process conducted by Petrobras for the sale of a 90% shareholding in Transportadora Associada de Gás S.A. (TAG) with a final and binding offer amounting to USD 8.6bn.
Texas oil production dropped in January by 90,000 barrels of oil per day. The decline has been attributed to explorers drilling significantly less after crude oil prices collapsed at the beginning of the year as well as a dearth of pipeline capacity from the Permian Basin of West Texas to the Gulf of Mexico.
Saudi Aramco announced the signing of a share purchase agreement to acquire a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia, in a private transaction for SAR 259.125 billion (or SAR 123.39 per share), which is equivalent to USD $69.1 billion.
OCENSA, a large oil transportation company in Colombia, awarded the ROSEN Group with a prize in the category Transformation and Innovation.
In 2018 the ENR global sourcebook published its 77th ranking for top international design firms. Once more, ILF Consulting Engineers was able to secure its position as a Top International Design Firm for Pipelines. By being ranked #6 in 2018, ILF was furthermore able to improve its position, compared to rank #10 in 2016.
The highly anticipated reform of the chinese oil and gas industry is now official according to the country's state planner. The creation of the new company was released as part of the National Development & Reform Commission's report during the last National People's Congress meeting.
There is a long tradition of energy cooperation between Europe and Asia. For decades, Russia for example has been a reliable partner for the supply of crude oil and natural gas. A number of other initiatives are currently being developed, involving Russia, Central Asia and Turkey.
The Abu Dhabi National Oil Company (ADNOC) has signed a US$4 bn midstream pipeline infrastructure partnership agreement with US-based institutional investors KKR and BlackRock. ADNOC is expanding through strategic partnerships since 2017. With the contract a newly formed entity known as Adnoc Oil Pipelines will lease ADNOC’s interest in 18 pipelines for a 23-year period.
NDT Global, a supplier of ultrasonic pipeline inspection and integrity services, announced two major advances in pipeline crack inspection technology.
Enhanced Sizing methodology can size cracks to 100% wall thickness.