Upstream news

BP’s profit for the second quarter and half year was US$144 million and US$1593 million respectively, compared with a loss of US$1419 million and a loss of US$2002 million for the same periods in 2016.

McKinsey Energy Insights has released its latest Global Gas Market Outlook, in which the company predicts that natural gas will represent 23% – up from 22% in 2016 – of the global energy mix by 2030.

Last week the jacket for the Johan Sverdrup riser platform was installed by Thialf crane vessel owned by Heerema Marine Contractors (HMC). Weighing a good 26 000 t the jacket is the largest on the Norwegian continental shelf (NCS).

ALE has started building a second Mega Jack 800 jacking system.

Premier Oil has provided a progress update on various drilling operations.

DeepOcean has acquired French company Searov Offshore SAS and has expanded its presence in West Africa.

Exxon Mobil Corporation has announced estimated second quarter 2017 earnings of US$3.4 billion, or US$0.78 per diluted share, compared with $1.7 billion a year earlier, as oil and gas realisations increased and refining margins improved.

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7435/12-1, cf. Section 8 of the Resource Management Regulations.

The latest annual health and safety data published for the UK offshore oil and gas industry signals a continued trend of improving performance despite 2016 being a challenging year, says Oil & Gas UK.

Once a production sharing contract for blocks 01 and 02 of the Cuu Long Basin expire, PC Vietnam Limited will hand the blocks over to the host authority.