World

KCA Deutag

Global drilling and engineering contractor KCA Deutag announced that its land drilling operation has won new contracts worth approximately $460m in the Middle East, Africa and Europe. Following the announcement made in March that a Middle East client had reserved three rigs for an option period, the company confirms that these have subsequently been contracted …

IEA predicts global oil demand

Global oil demand will hit a plateau around 2030 as the use of more efficient cars and electric vehicles ends an expansion that dominated the past century, the International Energy Agency predicts. While the current growth rate of 1 MMbpd — or about 1% — will hold for the next five years, it will ebb …

Maersk

COPENHAGEN – Maersk Drilling has entered a contract with BG International Ltd., a subsidiary of Shell, for work offshore Trinidad and Tobago on a two-well development project for the semi-submersible rig Mærsk Developer. The contract has an estimated duration of 171 days and is expected to commence in Q1 2020. The value of the firm …

Weatherford

Weatherford introduced ForeSite Flow, the first-ever flow-measurement solution driven by Production 4.0 intelligence, at ADIPEC 2019. ForeSite Flow is a full-range, non-nuclear multiphase flowmeter paired with Weatherford ForeSite intelligence. Built for every production environment from heavy oil to wet gas, this technology provides precise flow measurements for any fluid mixture without separation. By removing bulky …

Oil tallies weekly gain

Oil erased an early loss Friday, capping a weekly gain as investors shrugged off a comment by President Donald Trump that the U.S. hasn’t agreed to fully roll back tariffs with China. Futures in New York climbed 1.9% on the week to settle at a six-week high. U.S. equities drifted after Trump said the U.S. …

Our Nation’s Energy Future (ONE Future)

Our Nation’s Energy Future (ONE Future), a coalition of natural gas companies, announced, at the 2019 Natural Gas STAR & Methane Challenge Workshop, its annual reporting of methane intensity numbers. Using uniform, EPA-approved reporting protocols, the coalition registered a 2018 methane intensity number of 0.326%, a decrease of 41% from its 2017 number of 0.552%. …