SAN DONATO MILANESE, Italy – Saipem has won contracts for offshore drilling with a total value of more than $200 million. One involves drilling two firm plus two optional wells for Wintershall offshore Norway, using the harsh-environment semisubmersible Scarabeo 8. The rig should start the program in 2Q 2020. This is Saipem’s first campaign for the German operator. In the Middle…
New York — U.S. crude oil stocks rose more than expected last week to the highest in nearly 17 months as imports climbed, while gasoline inventories posted their steepest drawdown since September 2017, the Energy Information Administration said on Wednesday. Crude inventories rose 7 million barrels to 456.6 million barrels in the last week, their highest…
Port Harcourt — Prof Chijioke Nwaozuzu has been appointed the new director at the Emerald Energy Institute, Federal University of Port Harcourt. Until then, he was the deputy director at the EEI. Chijioke Nwaozuzu is a native of Mbieri in Imo-State, Nigeria. He attended Government Secondary School, Owerri, Imo-State, (1973-78) with a First Division; Federal School of…
Lagos — The International Chamber of Commerce, ICC, International Maritime Bureau, IMB, has released its first quarter 2019 report in which it acknowledged that, in the first quarter of 2019, Nigeria experienced a decrease in reported piracy incidents. According to the IMB, Nigeria reported 14 incidents of piracy for Q1 2019, in comparison to 22 incidents during…
London — An Indian refiner mopped up some crude on Wednesday, though spot sales has been slow for May barrels because of high offer levels. * Less than 10 cargoes remained from the May Angolan programme, mostly held by Equinor. * Chevron was still offering a cargo of Cabinda at dated Brent plus $1.70 and Glencore…
Lagos — The Nigeria government has revoked Oil Mining Licenses belonging to Pan Ocean and six others, SweetcrudeReports has learned. Sources close to the matter hinted that the decision to withdraw the licenses of the affected Nigerian companies came following complaints by the Minister of State for Petroleum Resources, Ibe Kachukwu over the failure to pay royalties. The…
Lagos — A hybrid retrofit installation, featuring an energy storage solution from the technology group Wärtsilä, will significantly enhance the efficiency and environmental performance of the ‘Harvey Energy’, a platform supply vessel (PSV). The vessel, which is owned by Louisiana, the USA based Harvey Gulf International Marine, is the first LNG fuelled – and will be the…
Yenagoa — Seplat Petroleum Development Company Plc has emerged as the Nigerian Content Development and Monitoring Board, NCDMB’s most impactful independent upstream operating company for its local content initiatives at the Nigeria Oil and Gas Opportunity Fair, NOGOF. The NOGOF which took place at the new NCDMB headquarters in Yenagoa, Bayelsa State.is an initiative of the Board, and was…
Shell Nigeria will invest $15 billion in the oil and gas sector in the next five years amidst concerns that investment in the sector is shrinking AMIDST growing concerns that foreign direct investment is shrinking in Nigeria, Shell Petroleum Development Company, SPDC, has marshalled out a five-year plan to invest more than $15 billion…
TWO Chevron companies, Texaco Nigeria Outer shelf Limited, TNOS, and Star Deepwater Petroleum Limited and their partner and parties in the OML 132 and Agbami field respectively, have donated a hybrid library, two science laboratories to schools and a modern chest clinic to a hospital in some states across the country. The gesture is in…