OPEC had trimmed its forecast that the global oil demand growth in 2019. With the risk of economic outlook going down plus new challenge in efforts to keep up the support for the market next year. The world would require 32.05 million bpd (barrel per day) from its 15 members in 2019 , said OPEC. The number remains unchanged from last month. There is a suggestion of surplus up to...Continue Reading

Royal Dutch Shell Plc is feeling optimistic that fossil fuel is the answer to Nigeria’s decades of crude theft, pollution and oil-related corruption matters. Shell, the oil major, is planning to develop the domestic energy market with natural gas in Nigeria. Natural gas is abundant, difficult to steal, better for the environment and could potentially provide thousands with employment as the company’s influence and large balance sheet can transform Nigeria’s population...Continue Reading

Simulators are going to be used to ensure the rig reactivations are faster, smoother and safer to all the crew members, new and experienced. For the very first time, Stena and advanced developer and manufacturer, Drilling Systems, are working together to combine competency assessment and coaching in-the-field with the On-the-Rig (OTR) simulator. Stena highlighted that OTR helps better prepare drilling and lifting crew for rig start-ups and ongoing operations. The...Continue Reading

The Trump administration is considering partial exemptions against Iran’s oil for certain countries. The US starts non-oil penalties against the Islamic Republic starting today.  The US is weighing case-by-case exemptions for some countries from the next set of sanctions — which take effect in 90 days — targeting Iranian oil exports.Continue Reading

Date: 17 July 2018 Saudi offer extra crude volume in Asia as OPEC leader plans high output Saudi Arabia is offering extra oil in addition to its normal supply to some of the buyers in Asia as the OPEC leader plans to increase output, heeding to the call of U.S President to increase the oil supply in the market and keep a control over prices. While some of its customers...Continue Reading