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Oil glut grows as Saudi Arabia says worst is over

Listen to Saudi Arabia and hear the oil market is rebalancing. Look at the screen, and Brent is indeed holding above $50/bbl. But dig deeper into the world of physical oil, and bearish signals abound, at least in the European market that helps dictate global prices.

Royal IHC secures order for FSO equipment designated for Culzean field

Royal IHC has signed a new contract for the engineering, procurement and construction of a tandem mooring and offloading system for an FSO vessel (Floating, Storage and Offloading).

Qatargas, Petronas sign five-year LNG deal

Qatargas has signed a new five-year liquefied natural gas sale and purchase agreement (SPA) with Petronas LNG UK Limited (PLUK).

Global Maritime, Statoil sign master services agreement

Global Maritime Consultancy & Engineering, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has been awarded a master services agreement (MSA) by Statoil.

Faroe Petroleum reports discovery in Norwegian Sea

LONDON -- Faroe Petroleum has reported an oil and gas discovery at the Njord North Flank in the Norwegian Sea.

Aker Solutions wins contract to upgrade Mongstad terminal for Johan Sverdrup

Aker Solutions has been awarded a contract to upgrade the Mongstad terminal for oil from Johan Sverdrup from late 2019.

AGR names new head for Well Management business in Norway

AGR has appointed Tore Øian to lead the company’s Well Management business in Norway.

Shell North Sea sale said to draw Ineos, Siccar Point bids

Royal Dutch Shell Plc has invited binding bids from parties including Ineos AG and Blackstone Group LP-backed Siccar Point Energy for the sale of some of its UK North Sea assets worth about $2 billion, according to people familiar with the matter.

Technip, FMC win subsea work for Hurricane’s Lancaster development

Hurricane Energy has provisionally selected Technip and FMC Technologies, under their alliance, as its exclusive provider of subsea solutions for the Lancaster Early Production System (EPS) and for subsequent development of the Greater Lancaster Area.

Aker Solutions, MAN to cut cost of subsea compression systems

Aker Solutions and MAN Diesel & Turbo expect to cut the size and weight of subsea compression systems by at least 50% just a year after the first such system successfully went on stream at Statoil’s Åsgard field.

Statoil cleared to drill four survey wells at Johan Sverdrup

Statoil has received consent to drill four survey wells at Johan Sverdrup field, Petroleum Safety Authority (PSA) Norway said Monday.

Transocean Winner loaded onto heavy lift ship, UK says

The Transocean Winner semisubmersible, which ran aground offshore the UK in August, has been safely loaded onto the heavy lift ship Hawk.

As UK gives nod to fracing, a U.S.-style shale boom remains far away

Four wells are better than none if you’re trying to assess whether your country could host the next shale boom—but it’s not nearly enough.

Extended reach drilling course launched by RGU, Merlin

Aberdeen's Robert Gordon University (RGU), in conjunction with Merlin ERD Limited, has developed a bespoke training course in extended reach drilling (ERD).

Johan Sverdrup shipment arrives at Kvaerner’s Verdal yard

The first of two shipments of pile clusters and flotation tanks have arrived at Kvaerner’s yard in Verdal, Norway.

Wintershall sells stake in North Sea’s Yme license to OKEA

Wintershall Norge has signed a sales agreement with OKEA, a Norwegian oil company which was established in Trondheim last year, to sell its 10% share in the Yme license on the Norwegian Continental Shelf.

Cuadrilla wins two-year UK frac fight

Cuadrilla Resources won government permission to hydraulically fracture for natural gas in northern England, ending a two-and-a-half-year battle that veered into debates about the legacy, prosperity and stewardship of Britain’s countryside.

Oil tankers piling up in North Sea show glut facing OPEC

A pile up of tankers waiting in the North Sea suggests a glut is building again in the market where benchmark crude is traded, highlighting the task facing OPEC as it seeks to rein in a global glut.

Sandvik inaugurates new, fully automated OCTG ultrasonic testing facility

Sandvik is inaugurating a new, state-of-the-art, fully automated ultrasonic testing facility for pipes to the oil and gas industry.

Aker Solutions wins subsea contracts for DEA’s Dvalin field

DEA Norge has awarded Aker Solutions two contracts, worth at least NOK 900 million ($113 million), to deliver the subsea production system, maintenance and services at the Dvalin natural gas development offshore Norway.