Evac, a global provider of integrated water and waste management systems, has acquired Transvac Systems a UK business specialized in distributing and servicing wastewater treatment systems, sanitary systems and ballast water treatment systems for ships and offshore platforms. The acquisition builds on Evac's expansion strategy which in May 2018 saw...
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal. At current oil price levels, spending on land rigs, fracking and other...
Oil prices continue to climb in response to a Russian - Saudi deal to cut production in the face of a likely global supply glut. New York Futures closed Wednesday at $52/bbl, shrugging off bearish U.S. demand data. Russia will meet its target for curbing output in April as part...
Well-Centric, a FrontRow Energy Technology Group company, has announced the acquisition of Simmons Edeco Europe from its Canadian owner. The deal will create the UK's largest independent supplier of well integrity services, with operations in Aberdeen and Great Yarmouth in the UK, and in Esbjerg in Denmark. Simmons Edeco Europe is...
Cubility AS, a leading provider of solids control solutions, has announced a multi-million dollar contract to supply its MudCube® solution to Russian operator Slavneft and its OOO Baikit Oil & Gas Exploratory Expedition (OOO BNGRE) subsidiary. OOO BNGRE is responsible for exploration, drilling and production in the Krasnoyarsk region...
The well confirms a volume potential of 50-70 million recoverable barrels of oil. The discovery more than doubles the remaining oil reserves to be produced through the Norne field. Originally planned to be shut down in 2014, the productive life of Norne has already been extended to 2036, which will generate substantial...
The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO). In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In...
Russia’s oil production rose to a post-Soviet high last month as the country completely rolled back the output cuts it had agreed on with OPEC, then pumped some more. The country produced a record 11.356 MMbopd in September, according to data released Tuesday by the Energy Ministry’s CDU-TEK statistical unit....
Shipments of West African oil to Asia are set to hit a two-month high in October as Chinese refineries scramble for alternatives to Iranian crude before U.S. sanctions take effect on Nov. 4, according Reuters reports. Loadings for Asia will rise to 2.52 million barrels per day (bpd) in October,...