Offshore - Oil & Gas

  • Reichert urges Trump administration to keep...

    U.S. Rep. Dave Reichert, R-Auburn, this week led a bipartisan group of more than 100 members of the House of Representatives in urging Department of Interior Secretary Ryan Zinke to reject proposals to open the Atlantic and Pacific Outer Continental Shelf Regions to new offshore drilling and oil exploration.

  • Gulf Drilling International signs US$ 925 million...

    Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, signs a US$ 925 million (QR 3.4 billion) structured Shari’a compliant financing facility with Gulf Drilling International Limited QSC (GDI). This new facility will be used to re-organize the company’s debt and further enhance its operational and financial performance. QIB successfully originated, structured and executed the transaction which used an innovative financing structure to meet the requirements.

  • China Deleveraging Pain Puts Investors on...

    What may be shaping up as China’s most concerted effort yet to bring its credit boom under control is spurring investors to gauge any contagion to broader financial markets, a-la 2015, when Chinese turmoil caused global ructions.

  • “MPGC” discusses the challenges of reaching...

    The 25th annual Middle East petroleum and gas conference “MPGC” provided the framework of opportunities for the oil and gas markets despite the turbulence as well as the new and ongoing strategies for the global oil and gas industry

  • Norwegian DNO oil and gas reports Q1 net profit,...

    DNO ASA, the Norwegian oil and gas operator, today announced expanded investments, including a doubling of its planned 2017 wells at the Tawke field in the Kurdistan region of Iraq, on the back of strong first quarter results. The company reported quarterly net profit of US$15 million, reversing a net loss of US$31 million in the previous quarter. Revenues were up 83 percent to US$77 million on operated production averaging 115,900 barrels of oil equivalent per day.

  • Middle East offshore activity bucks global...

    2016 witnessed a decline in Offshore Supply Vessel (OSV) activity in all regions of the world except the Middle East. Stronger results expected in 2017, as oil prices head towards $60 per barrel. The Middle East was the only global market to witness an increase in demand in Offshore Supply Vessel (OSV) activity in 2016 of 2.6%, indicating that regional government investment continues to support the sector’s performance since the fall of oil prices in 2014.

  • Oil at $50: what it means for offshore companies

    This will be more certain in case of those focused on deepwater and ultra-deepwater activities as significant overcapacity precludes OFS companies from negotiating prices much higher than today’s depressed levels, the agency stated.

  • Why Trump's offshore drilling order could...

    US President Donald Trump signed an executive order to extend offshore oil and gas drilling to areas that have been off limits - a move meant to boost domestic production but which could fall flat due to weak industry demand for the acreage.

  • Trump to Sign Executive Orders That Enable...

    U.S. President Donald Trump this week will sign new executive orders before he completes his first 100 days in office, including two on energy and the environment , which would make it easier for the United States to develop energy on and offshore.


Senaat – Abu Dhabi unit wins top EPC ranking

Senaat – Abu Dhabi, one of the UAE’s largest industrial investment holding companies, said its subsidary - National Petroleum Construction Company (NPCC) - has been ranked 5th in the annual list of Top 30 engineering, procurement and construction companies in the energy sector in the Middle East and North Africa region, as compiled by Oil & Gas Middle East Magazine.


Oil to stay between $50-55 in H2, 2018: Barclays

Brent prices are likely to stay in the $50-55 range in the second half of 2017 and to average in the same range in 2018, said Barclays in its latest Oil Instant Insight. Despite the statements in the communiqué of the Opec/Non-Opec Joint Ministerial Monitoring Committee (JMMC) and Joint Technical Committee (JTC), balances still indicate a constructive market balance in the remainder of this year, it said.