Upstream news

Oil prices have risen as US crude inventories are believed to have fallen more than traders expected. However, more news that could move the market again could come from the OPEC+ meeting today.

Keppel has been awarded contracts in Singapore and Brazil.

A Rystad Energy analysis shows the number of drilled wells globally is expected to reach around 55 350 this year, the lowest since at least the beginning of the century.

The cordless 'green seismic' technology is connected via wireless systems, in lieu of cables, so the technology does not require special heavy machinery to install them.

READ is now the selected operator of EV’s downhole video technology in Alaska.

ExxonMobil accepted the thermoplastic composite pipe jumper product for water injection purposes on its affiliates’ projects worldwide.

Pulse1 technology for production tubulars is designed to deliver five times the accuracy of conventional techniques, with ‘all around’ sensing of tube condition.

Approximately 80% of the oil and gas properties impairment losses are due to the significant and immediate reduction in oil and natural gas prices assumed up to 2025.

Head Energy was awarded the frame agreement for modifications at Brage in 2016 and the extension means that the contract now runs to 2022.

Profit before taxes amounted to US$151 million, compared to a loss before taxes of US$414 million in 1Q20.