Asia Pacific
Technology
Aker Solutions Secures Brownfield Services Contract in Brunei
Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement on March 30 to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).
Exploration & Production , Seismic
Searcher Seismic Study to Assist Offshore Timor-Leste Bid Round
Searcher reached a marketing and sales agreement with Timor-Leste’s Petroleum Authority, Autoridade Nacional Do Petroleo E Minerals (ANPM) on March 25 for its Offshore Timor-Leste data and study package.
Seismic
Seismic Firm Polarcus’ Project Cancellations Highlight Oil Price Slump
Polarcus Ltd., which operates ships that search for offshore oil and gas, announced two project cancellations on March 23 that will reduce its fleet utilization next quarter, highlighting the effects of the oil price slump on the energy services sector.
Discoveries
CNOOC Makes Large-sized Discovery In Bohai Bay
The company said the discovery well was drilled and completed at a depth of 1,596 m and encountered oil pay zones with a total thickness of about 20 m.
Logistics
Data Gumbo Blockchain Network Expands To Geothermal Drilling In Indonesia
Air Drilling Associates (ADA), a leading provider of specialized drilling and project management services to the petroleum and geothermal drilling industry, has adopted GumboNet, the company’s massively interconnected blockchain network.
Crude Oil , Trade , International
Oil Prices Jump After Rout On Stimulus Hopes
Russia also signaled that talks with OPEC remained possible with its oil minister, Alexander Novak, saying he has not ruled out joint measures with OPEC to stabilize the market.
Business , Unconventional , Crude Oil
US Shale Producers Prepare To Adjust Amid Volatility, Coronavirus
Continued fears about the coronavirus, demand uncertainty and OPEC moves are adding to a growing list of challenges for U.S. shale players.
Crude Oil , Trade , International
‘Crazy’ Saudi Oil Price Cuts Seen Reigniting Market Share War
The world's top producers including Saudi Arabia, Russia and other Middle East producers were last locked in a market share war between 2014 and 2016.
Liquefied Natural Gas (LNG) , Crude Oil , Exports , International
DOE Chief: Coronavirus Won’t Impact China Purchases
Brouillette says he expects the Chinese to honor their agreement to buy $50 billion of US oil, LNG and coal over two years.
Public Capital , Earnings , Exploration & Production , Shale Plays
Chevron Pledges Up To $80 Billion In Shareholder Returns
“We believe our advantaged portfolio and capital efficiency enable us to grow cash flows and increase returns without relying on rising oil prices,” Chevron CEO Michael Wirth said in a statement.