Production & processing

Wärtsilä

Wärtsilä and DNV GL have signed a Memorandum of Understanding (MoU) in which they agree to work together to contribute to the marine industry’s ongoing digital transformation. In particular, the two companies wish to further explore the potential use of digital technologies, collaborative data sharing, and standardization to enhance existing products and services, and to …

China

A grim situation for U.S. natural gas exporters has gotten even worse as the coronavirus outbreak sends global prices plunging on concern that China’s demand for the fuel will collapse. Suppliers of American liquefied natural gas were already under pressure from depressed prices arising from a global glut and an unusually mild domestic winter. Now, …

Dubai

Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates aim to push the country to energy self sufficiency. The Jebel Ali reservoir located between the two emirates has 80 Tcf of gas resources, according to tweets by Sheikh …

agreement

Aquaterra Energy has signed a memorandum of understanding with Oceaneering to offer complete decommissioning and late life solution packages to the North Sea oil and gas industry. Under the agreement, the companies will offer tooling and services in four distinct areas: platform well abandonment, subsea well abandonment, topside and jacket removals and subsea removals. Oceaneering …

Iran

An Israeli cybersecurity firm has identified a new type of ransomware that it believes was created by Iran and has the ability to lock up or even delete industrial control systems. Tel Aviv-based Otorio, a cybersecurity firm which specializes in industrial control systems (ICS), said that the ransomware called “Snake,” like others of its kind, …

OPEC

For the first time in Russia’s alliance with OPEC, the country is changing the way it makes oil-production cuts. This quarter, Russia — one of the architects of the original deal to curb oil output between the Organization of Petroleum Exporting Countries and its allies — will be allowed to exclude a type of light …