Upstream news updates

Most of the company's 2021 budget will be allocated towards operations in Guyana.

The contract is set to commence in 3Q21 with a duration of one firm well plus eight optional wells.

Baker Hughes will support Petrobras’ offshore platforms and FPSOs with software and hardware solutions.

Subsea 7 will construct and install a platform system for Cabinda Gulf Oil in Block-0 offshore Angola.

Oil prices declined on Friday as a cocktail of bearish news hit the market. A rise in China’s Covid-19 infections, reported storage builds in the US and news that Iran has boosted exports are pushing prices lower.

Affiliates of the two companies have entered into an agreement to jointly develop a futures contract for the physical delivery of crude oil in the Houston area.

American Petroleum Institute President and CEO Mike Sommers has issued a statement on the Biden administration's decision to temporarily suspend oil and gas permitting on US federal lands and waters.

Gilmore, a provider of flow control solutions, has appointed David Nemetz as its new CEO.

Azerbaijan State Oil and Industry University’s SPE (Society of Petroleum Engineers) Chapter students are being offered training to help bridge the gap between the knowledge gained at university and in-house industry experience.

JDR will manufacture and supply a 2.7 km long subsea production umbilical for the Ledang Redevelopment Segment 2 project, offshore Malaysia.

Oil prices have fallen today over concerns about reported rising US oil storage levels and China adding travel restrictions.

A Final Investment Decision has been taken on the North El Amriya and North Idkunea (NEA/NI) concession subsea tieback project.

API has issued a statement confirming that it stands ready to work with President Joe Biden and his administration.

Oil prices have risen on enthusiasm about a new policy era in the US and on anticipation for a decline in crude inventories.

The IEA has revised down its forecast for global oil demand by 0.6 million bpd for 1Q21 and 0.3 million bpd for 2021 as a whole.

Oil and gas technology development company Deep Casing Tools has secured investment of £1.6 million from Scottish Enterprise and its long-term backer, EV Private Equity.

The survey indicates less anticipated redundancies and greater optimism about the next six to twelve months within Subsea UK's members.

As Joe Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.

Sophisticated imaging and deep-learning algorithms will allow the Dammam 7 supercomputer to run detailed 3D earth models, enhancing Aramco's decision-making on exploration and investment decisions.

30 companies, including Equinor, Wintershall Dea, Lundin Energy, and Neptune Energy, have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf.

The contracts are awarded for a fixed period of around five years from May 2021.

The five-year consolidated services contract will see Wood work to extend field life, lower costs, and reduce late life carbon intensity.

SIAD Macchine Impianti has designed and built a booster compressor for a FPSO operating in the offshore marine area of Foinaven, to the west of the Shetland Islands.

OSSO, formerly Centrifuges Un-limited, the specialist fluid temperature control and separation solutions provider, has appointed James Scullion as CEO.