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Saudis reveal extent of damage to Kuharis oilfield following attack

2 days ago DieselGasoil Comments Off on Saudis reveal extent of damage to Kuharis oilfield following attack
By Anthony DiPaola on 9/20/2019 ABQAIQ, SAUDI ARABIA (Bloomberg) – Saudi Aramco revealed the significant damage caused by aerial strikes on its Khurais oil field and Abqaiq crude-processing plant last weekend, and insisted that the sites will be back to pre-attack output levels by the end of the month. Abqaiq crude processing facility Aramco took Read More

Hydrostor Announces Close of US$37 Million Growth Financing

2 days ago DieselGasoil Comments Off on Hydrostor Announces Close of US$37 Million Growth Financing
TORONTO, Sept. 19, 2019 (GLOBE NEWSWIRE) — Hydrostor, a leading developer of Advanced Compressed Air Energy Storage (A-CAES) projects, announced today the closing of US$37 million (C$49 million) in growth financing. RBC Capital Markets acted as Hydrostor’s advisor on the transaction. Meridiam, the global developer, asset and fund manager specializing in sustainable infrastructure and energy Read More

Saudi air defenses like Patriot & Aegis don’t match their advertised properties, unfit for real combat – Russian Army

3 days ago DieselGasoil Comments Off on Saudi air defenses like Patriot & Aegis don’t match their advertised properties, unfit for real combat – Russian Army
Multiple Patriot launchers, Aegis destroyers and radars are guarding Saudi skies, but they failed to stop a massive strike on an oilfield because their actual properties aren’t what the US advertises, a Russian Army source says. Benefiting from the US arms deliveries, Saudi Arabia managed to build up “the most powerful air defense system in Read More

McDermott is said to hire restructuring firm for turnaround advice

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By Allison McNeely and David Wethe on 9/19/2019 NEW YORK (Bloomberg) – McDermott International hired restructuring firm AlixPartners for strategic and operational advice as the company seeks to shore up its balance sheet, according to a person with knowledge of the matter. The Houston-based company’s stock plunged as much as 76% Wednesday — trading was Read More

Weatherford, Saudi Aramco sign five-year procurement deal

4 days ago DieselGasoil Comments Off on Weatherford, Saudi Aramco sign five-year procurement deal
9/18/2019 BAAR, SWITZERLAND – Weatherford has announced the signing of a five-year corporate procurement agreement with Saudi Aramco to deliver cementation, completions, liners, solid expandables and casing exit technologies. The agreement establishes a foundation for future collaboration between Weatherford and Saudi Aramco, built on the forefront of oilfield technology and unsurpassed value. Weatherford vice president, Read More

Chevron can resume Saudi-Kuwait oilfield quickly if needed: CEO

5 days ago DieselGasoil Comments Off on Chevron can resume Saudi-Kuwait oilfield quickly if needed: CEO
By Kevin Crowley on 9/17/2019 HOUSTON (Bloomberg) – Chevron could start oil production “relatively quickly” in the so-called partitioned zone between Saudi Arabia and Kuwait if required to by both nations, CEO Mike Wirth said in an interview with CNBC. The zone can produce as much as 500,000 bpd but has been shuttered for at Read More

Delphi Energy Corp. Announces Close of Alliance Service Sale and Agreement to Reactivate Alliance Lateral Line

6 days ago DieselGasoil Comments Off on Delphi Energy Corp. Announces Close of Alliance Service Sale and Agreement to Reactivate Alliance Lateral Line
CALGARY, Alberta, Sept. 16, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) announces the closing of the sale of a portion of its Alliance Service and the execution of an Interconnection Development Agreement with Alliance Pipeline Limited Partnership to reactivate its lateral line to the company-owned Bigstone West Gas Plant located at Read More

U.S. shale seen unlikely to quickly replace barrels lost in attack on Saudi facilities

6 days ago DieselGasoil Comments Off on U.S. shale seen unlikely to quickly replace barrels lost in attack on Saudi facilities
HOUSTON (Reuters) – U.S. shale producers have added millions of barrels to global crude supply in recent years, but that does not mean they can quickly replace barrels lost from weekend attacks on Saudi Aramco facilities, energy experts said on Sunday. FILE PHOTO – A pump jack operates in the Permian Basin oil and natural Read More

Saudis race to restore oil output after Aramco attacks

7 days ago DieselGasoil Comments Off on Saudis race to restore oil output after Aramco attacks
By Nayla Razzouk and Javier Blas on 9/15/2019 DUBAI (Bloomberg) – Saudi Arabia is racing to restore oil production after a brazen drone strike on a key Aramco facility slashed its output by half, or about 5% of world supply, an assault that the U.S. has blamed on Iran. Saudi Aramco’s Abqaiq crude production facility Read More