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North Sea crudes trade at biggest discounts in six years

North Sea crudes are trading at the biggest discount to the regional benchmark in more than six years amid a surplus of cargoes.

Atlantic Offshore Rescue launches latest vessel as part of fleet modernization program

Atlantic Offshore Rescue has unveiled its third new vessel in the past 12 months as part of the company's fleet modernization program, representing an investment totaling about $458 million (£300 million).

Jee presents subsea mattress removal research in Aberdeen

Jee Ltd, an independent multi-discipline subsea engineering and training firm, has completed a contract with Decom North Sea (DNS), the representative body for the decommissioning industry, to identify pioneering methods of salvage and re-use options for concrete subsea mattresses.

Seatronics inks global rental agreement with Neptune Oceanographics

Seatronics, an Acteon company, has signed a rental agreement with Neptune Oceanographics. Seatronics now has access to Neptune’s range of leak detection systems globally.

DOE authorizes Alaska LNG exports to non-FTA countries

The Energy Department has issued a conditional authorization for the Alaska LNG Project, LLC to export domestically produced LNG to countries that do not have a Free Trade Agreement (FTA) with the U.S.

Atlas Copco introduces new QEC range for rental, mining and oil & gas

Atlas Copco has expanded its containerized generator offering with four new QEC models.

Ashtead Technology boosts rental fleet with Neptune agreement

Ashtead Technology has secured a deal with Neptune Oceanographics Ltd., adding innovative underwater leak detection products to its rental fleet.

Brent oil trades near one-month low on Iraq exports, dollar

Oil traded near a one-month low in London on concern record Iraqi exports will boost OPEC supplies.

UK aims to maximize oil production as onshore wind loses out

The UK aims to maximize domestic oil and gas production and curb the spread of onshore wind farms as the government leans toward maintaining energy security over cutting carbon emissions.

Statoil awards new Oseberg contract to Aibel

Statoil has awarded Aibel the contract to conduct a FEED study for the Oseberg Future Development Brownfield Topside project. The contract gives an opening for the subsequent EPCI contract.

UK-based Third Energy submits planning application for hydraulic stimulation

Third Energy will submit a planning application to North Yorkshire County Council to hydraulically stimulate and test various geological formations, at the existing well KM8 at Kirby Misperton.

Mario Mehren takes over as CEO for Wintershall

Mario Mehren will take over as the Chairman of the Board of Executive Directors at Wintershall Holding GmbH on Jun. 1.

Statoil wildcats disappoint in the Norwegian Sea

Statoil Petroleum, operator of production license 348 C, is in the process of completing the drilling of wildcat wells 6407/8-7 and 6407/8-7 A. Both wells have been drilled about 4 km north of Hyme field in the southern part of the Norwegian Sea.

Jee bags FEED contract for EOR project from Amec Foster Wheeler

Jee Ltd. has been awarded a contract from Amec Foster Wheeler for the front end engineering design (FEED) of a jacket rigid polymer injection riser package (including J-tubes) as part of an enhanced oil recovery (EOR) field development.

Expro wins the RoSPA President’s Award 2015

Expro has won the President’s Award, following 11 consecutive Gold Awards, in the RoSPA (Royal Society for the Prevention of Accidents) Occupational Health and Safety Awards 2015.

Bister exploration well disappoints in Norwegian Sea

Faroe Petroleum has announced that drilling has reached target depth on the Statoil-operated Bister exploration well in the Norwegian Sea.

Acona UK starts drilling operations in Northern Ireland

Well drilling and project management specialist Acona UK has begun drilling operations on a salt well for AIM-listed InfraStrata plc on behalf of Islandmagee Storage Limited in Northern Ireland. An Acona UK team is managing the drilling of the Islandmagee- 1 well, on the shores of Larne Lough. Operations to drill the 1,700-m well are expected to take about five weeks. The objective is for data gathering to confirm the feasibility of a strategically important underground gas storage facility in leached salt caverns.

UK Oil and Gas urges cooperation across UKCS

Ardent co-operation across the UK oil and gas industry which draws on the experience of others is important in helping to contain inflationary pressures and achieve a sustainable future for the UK Continental Shelf (UKCS), a London audience heard on May 19, at an Oil & Gas UK briefing, sponsored by Costain Upstream Ltd and Herbert Smith Freehills.

Oil falls to 3-week low as Goldman sees $45 crude by October

Oil slid to a three-week low as the dollar strengthened and Goldman Sachs Group Inc. said a continuing surplus would send prices back down to $45 bbl by October.

Shale set to pummel another market, as U.S. LNG plants arrive

The U.S. is about to change the global LNG market forever. When the first tanker carrying LNG from shale fields leaves the Sabine Pass terminal in Louisiana in December, it will turn consumers into traders with more bargaining power. That will transform a market dominated by long-term contracts into one where spot trading gains prominence, similar to crude oil. Since the first LNG cargo went to the U.K. from Algeria under a long-term contract in 1964, buyers opted for guaranteed supply, because the fuel was scarce. That’s changing, because gas from the Eagle Ford and other plays will transform the U.S. into the third-biggest exporter by 2020.