Hundreds of passengers from a P&O cruise ship that crashed into an oil tanker during a storm in Spain have been flown home. Flagship ship Britannia left the Mediterranean island of Palma de Mallorca on Monday and will return to Southampton, the cruise line said in a statement. The 330-meter (1,083-foot) vessel broke its moorings in strong winds and collided with the oil tanker on Sunday. Surveyors found that one of the ship’s lifeboats was damaged beyond repair on board and maritime regulations require the ship to return to Southampton, the statement said. A small number of guests and crew…
Author: Automotivedealernews.com
Energean has partnered with TechnipFMC to advance the development of the Olympus Area. The company said in its press release that the partnership is pursuing a five-well exploration campaign in the eastern Mediterranean. The company said the campaign discovered approximately 68 bcm of natural gas in the Olympus multi-block area, offshore Israel, which contains the Katlan and Tanin fields. The partnership with TechnipFMC will bring the significant regional-scale resource into production, Energean noted. Energean and TechnipFMC have agreed a letter of award that will accelerate TechnipFMC’s provision of an integrated front-end engineering and design (FEED) study as a vital starting…
North America dropped nine rigs week-over-week, according to Baker Hughes’ latest rotary rig count, which was released on August 25. The total rig count in the region is now 822, Baker Hughes revealed, noting that 632 of those rigs are in the US and 190 in Canada. While the US lost 10 teams week-over-week, Canada added one rig in the same time frame, the rig count revealed. Of the total 622 US rigs, 613 are classified as land rigs, 16 as offshore rigs and three as inland water rigs. The total US rig count includes 512 oil rigs, 115 gas…
Seatrium New Energy, formerly Keppel FELS, has delivered its second jackup rig, named AlSila, to ADNOC Drilling, on schedule and on budget. The company said in its press release that the rig is part of a series of five rigs it had been building for Borr Drilling. In 2022, the company announced that it had entered into an agreement with Borr Drilling to expedite the delivery of three jackup rigs to Borr Drilling (or a third party to whom Borr Drilling intends to sell the rigs). Seatrium said the construction contracts for the three rigs have been renegotiated by Borr…
Trillion Energy International Inc. has reported second-quarter revenue of $5.8 million (CAD 7.8 million), up 288 percent from the same period in 2022. Trillion posted operating income of $613,232 for the three months ended June 30, compared with an operating loss of $616,660 for the three months ended March 31, 2022, it said in a recent earnings release. For the second quarter of 2023, the company also closed a convertible debenture financing for gross proceeds of approximately $11 million (CAD 15 million). On the operations side, Trillion said it successfully drilled five long-reach directional wells and a new completion at…
If OPEC+ were to go into peak production mode, it would likely result in Saudi Arabia and Russia once again fighting for market share and a race to set the price of oil as low as possible. That’s what Matthew Bey, senior analyst at RANE, told Rigzone, adding that “this could bring oil prices back below $50 a barrel, if not lower, as only Saudi Arabia would add at least one million barrels per day in oil production.” However, OPEC+ is “unlikely” to go into maximum oil production mode next year, according to Bey, “as Russia has little interest in…
The UK’s energy services regulator has further reduced its price cap to reflect recent falls in wholesale prices. Meanwhile, to safeguard energy suppliers, the Office for Gas and Electricity Markets (Ofgem) has also increased the profit margins allowed. The maximum annual amount that providers can charge the average household paying by direct debit falls to $2,419.3 (GBP 1,923) from October to December, from $2,609.3 (GBP 2,074) from July to September and 4,126 $.6 (GBP 3,280) in June, according to a press release. by Ofgem on Friday. “The change will bring the average dual fuel energy bill below £2,000 [$2,516.2] a…
It took an “Act of Congress” and a decision from the highest court in the land, handed down by the Chief Justice no less, but it’s looking more and more like the Mountain Valley Pipeline (MVP) will be completed sooner rather than later. this year, the opening of 2 Bcf/d of new takeaway capacity for the increasingly pipeline-constrained Appalachian gas supply basin. That has shifted the industry’s gaze to downstream bottlenecks where most of the volumes flowing into the new pipeline will land, at the gates of Williams’ Transco pipeline in southern Virginia. Several midstream expansions have been announced to…
Austria plans to adjust a windfall tax on oil and gas companies to kick in at lower profit levels, as part of efforts to contain public discontent over rising corporate earnings at a time of rising costs life The tax, which removes 40% of additional net income, will apply to profits that exceed the pre-crisis average from 2018 to 2021 by more than 10%, compared to the 20% threshold in place until now, he said. say the government of Vienna in a statement. Saturday. “It is not acceptable for energy companies to profit from the crisis when customers are bombarded…
Cyprus rejected a plan presented by a consortium led by Chevron Corp. to develop the country’s Afrodita gas field, Energy Minister Giorgos Papanastasiou said. The parties involved can now “enter into discussions to reach an agreement within a period of 30 days,” Papanastasiou told Bloomberg News, without explaining why the plan was rejected. The period for a new round of negotiations began on Friday. Chevron, along with Israel’s Shell Plc and Newmed Energy LP, have drilling rights in the offshore Aphrodite field. The Aphrodite Reservoir partners submitted an updated plan for Cypriot government approval that would connect the Aphrodite Reservoir…