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...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...Continue Reading

Date: 16 July 2018 Woodmac: OPEC will continue to be a key player in oil market till 2040 According to a report by Wood Mackenzie, OPEC will continue to be an important player in the oil market until 2040. The global natural resources consultancy also reported that it expects continued growth in production through the...Continue Reading

Date: 16 July 2018 Tidewater Inc. is all set to expand its territory to the North Sea basin in UK where a 30% rise in the prices of oil since 2016 end has led to increased rates for operators. Tidewater Inc. announced that it was going to take over GulfMark Offshore Inc. to create a...Continue Reading

Date – 7/16/2018 Iraq says oil output remains unchanged in the face of protests   Residents in the southern province of Basra started protests last week asking for employment at the major oil fields in the country which are run by international players such as Lukoil PJSC and ExxonMobil Corp. Iraq has seen regular protests...Continue Reading

CNG Holdings aims to educate the equipment manufacturers and the private sector about the various benefits of Compressed Natural Gas (CNG) during an expo to be scheduled on July 11th and 12th at the Kyalami International Grand Prix Circuit and Conference Centre. Wayne Williams, the Group Sales and Marketing manager of CNG Holdings talks about...Continue Reading

The future of major oil companies is now dependent on the fate of natural gas more than ever before. Major companies like BP and Royal Dutch Shell have already hiked their gas output in the past years. Natural gas is considered the best alternative as it offers a long-term growth in demand due to the...Continue Reading

In a recent survey performed by Oil and Gas people in alliance with KPMG, more than 95% of the oil and gas workers reported that they suffered from financial problems due to the downturn in the oil industry. More than 50% of the respondents admitted an increase in debt over the years while 35% of...Continue Reading

As demand continues to increase, the global oil industry needs to look for another North Sea or Iraq to meet the shortage of supply, says Majid Zafar, CEO of Crescent Petroleum. The problem of underinvestment lies in the image of the oil industry developed over the years. People think that it is dying and not...Continue Reading