Tag Archives: Rigzone

Rig activity stood out in several regions in 2022 and there is no reason to expect anything different in 2023, Westwood Energy believes. In 2022, offshore rig activity for both jack-ups and floating rigs was robust in several key regions of the world. Global marketed jack-up utilization increased from 87% …

Oil and gas contracts in Europe registered a decrease of 2% in November 2022 with 178 contracts, when compared with 182 contracts in the previous month, according to information provided by GlobalData. The activity marked a decrease of 11%, when compared with the last 12-month average of 199 contracts. Looking …

Investors with combined assets of $1.4 trillion have demanded the world’s biggest oil companies take swifter action to cut greenhouse gas emissions. This year has seen record profits for Big Oil as countries emerged from Covid lockdowns, boosting energy consumption and prices as supplies tightened. The companies bolstered shareholder payouts …

Germany’s first liquefied natural gas terminal arrived on the country’s north coast, the first of several specialist tankers Berlin is counting on to ease its energy crisis. The Hoegh Esperanza, a floating storage and regasification unit, or FSRU, moored at Wilhelmshaven Thursday, ahead of an opening ceremony Saturday to be …

Eni, Euglena, and Petronas will jointly study the possibility of developing and operating a biorefinery in the Pengerang Integrated Complex (PIC) in Malaysia. The three parties are currently carrying out technical and economic feasibility assessments for the proposed project, with the investment decision expected to be reached by 2023 and …

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the impact of European sanctions on Russian crude oil and the cap that the Group of Seven nations has imposed on the price of Russian barrels is not clear yet. “In terms of sanctions and price caps, these have not yielded …

TotalEnergies SE is planning to explore for oil offshore South Africa’s West Coast, where environmental groups have increasingly opposed such activity. The French explorer proposes to drill one well, which could result in an additional nine wells depending on the success of the first, SLR Consulting Ltd., which is doing …

China’s passion for Alaskan oil appears to be over as the country turns to Russia. Surging Chinese energy demand amid Covid lockdowns on the US West Coast prompted Alaskan oil exporters to ship more crude than any time in two-decades, and nearly all of it went to the East Asian …

Oil and gas giant Saudi Aramco has created a $1.5 billion fund to invest in technology supporting a stable and inclusive energy transition. It was unveiled at the sixth edition of the Future Investment Initiative (FII) and is among the largest sustainability-focused venture capital funds globally. Managed by Aramco Ventures, …

India says Russian oil now accounts for 12% of its overall purchases of the commodity, with the ratio surging six-fold in the past few months, as Asia’s third-largest economy seeks to slow inflation back to target. “We speedily ramped up Russian oil imports from 2% to 12%,” Finance Minster Nirmala …