Oil & gas news

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.

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.