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Dirty water holds biggest promise, Jefferies says

4 hours ago DieselGasoil Comments Off on Dirty water holds biggest promise, Jefferies says
By David Wethe on 6/24/2019 HOUSTON (Bloomberg) — For companies that haul oil and natural gas, the next big thing may be dirty water, according to Jefferies Group LLC. As booming U.S. oil production unleashes a torrent of contaminated water that rises to the surface with crude, pipeline operators may be in the best position Read More

BHGE, C3.ai announce JV to deliver AI solutions across the oil and gas industry

5 hours ago DieselGasoil Comments Off on BHGE, C3.ai announce JV to deliver AI solutions across the oil and gas industry
6/24/2019 HOUSTON and REDWOOD — Baker Hughes, a GE company and C3.ai today announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique AI software suite to deliver digital transformation technologies that will drive new levels of productivity for the oil and gas industry. AI in the oil Read More

TGS, PGS partner with Bain Geophysical to create crustal study offshore East Canada

6 hours ago DieselGasoil Comments Off on TGS, PGS partner with Bain Geophysical to create crustal study offshore East Canada
6/24/2019 HOUSTON — Building on their decade-long partnership for Eastern Canada seismic/gravity surveys, TGS and PGS have announced a partnership with Bain Geophysical Services to create a new regional study of the crust offshore Newfoundland and Labrador. Their Eastern Canada Crustal Study will build 3D models, including depth to magnetic/crystalline basement, depth to Curie isotherm, Read More

McDermott wins large EPCI contract for Saudi Aramco’s Marjan and Zuluf fields

6 hours ago DieselGasoil Comments Off on McDermott wins large EPCI contract for Saudi Aramco’s Marjan and Zuluf fields
6/24/2019 HOUSTON — McDermott International, Inc. has announced a large contract award from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Marjan and Zuluf fields, offshore Saudi Arabia. The contract includes the full suite of EPCI services for the relocation of Control Rooms in Zuluf GOSP-4, Marjan GOSP 2 and 3, Read More

Exxon Mobil ready for Norwegian exit

7 hours ago DieselGasoil Comments Off on Exxon Mobil ready for Norwegian exit
6/24/2019 LONDON, HOUSTON and SINGAPORE — Speaking after reports that ExxonMobil is preparing to put its Norwegian upstream portfolio up for sale, Neivan Boroujerdi, principal analyst, Europe upstream, at Wood Mackenzie, said: “The move doesn’t come as a surprise. We recently highlighted Norway amongst a US$48 billion pool of assets from which we think ExxonMobil Read More

Archrock Announces Agreement to Acquire Elite Compression

9 hours ago DieselGasoil Comments Off on Archrock Announces Agreement to Acquire Elite Compression
Acquiring approximately 430,000 of compression horsepower from Elite Compression Services for approximately $410 million in cash and Archrock common stock Reinforces focus on large horsepower compression serving midstream infrastructure with blue-chip customers Accretive to earnings and free cash flow per share and supports our path to achieving sub-4.0x leverage in 2020 Enhances basin density across Read More

Analysis: Southeast Asia contributing heavily to ample US-Asia crude flows in 2019

13 hours ago DieselGasoil Comments Off on Analysis: Southeast Asia contributing heavily to ample US-Asia crude flows in 2019
Singapore — Southeast Asia will likely continue to play a pivotal role in support of ample US-Asia crude oil trades in the second half of 2019 despite China’s faltering appetite for US energy products, with Vietnam aiming to procure two more WTI crude cargoes over the coming quarters. Not registered? Receive daily email alerts, subscriber Read More

Oil gains as new sanctions set to ratchet up pressure on Iran

21 hours ago DieselGasoil Comments Off on Oil gains as new sanctions set to ratchet up pressure on Iran
By James Thornhill on 6/23/2019 SYDNEY (Bloomberg) —Oil extended its rally after the U.S. said it was preparing new sanctions against Iran, further escalating tensions between the two states. Futures in New York were up 0.5%, after surging 9.4% last week — the biggest weekly gain in more than two years. U.S. Secretary of State Read More

Petrobras Parties Pay Vantage Drilling Parties $700.9 million to satisfy Arbitration Award and related U.S. Judgment

3 days ago DieselGasoil Comments Off on Petrobras Parties Pay Vantage Drilling Parties $700.9 million to satisfy Arbitration Award and related U.S. Judgment
HOUSTON, June 21, 2019 (GLOBE NEWSWIRE) — Vantage Drilling International (“Vantage” or the “Company”) announced today that Petrobras Venezuela Investments & Services, BV (“PVIS”), a subsidiary of Petroleo Brasileiro S.A (“Petrobras”), entered into an agreement with Vantage Deepwater Company (“VDEEP”), a wholly-owned subsidiary of Vantage, pursuant to which PVIS paid VDEEP approximately $690.8 million to Read More