Tradequip Blog & Oilfield Industry News

Oil prices will rise to $100 per barrel if Saudi Arabia gets its way. Only a week ago, news surfaced that Saudi officials were quietly hoping to push oil prices up to $80 per barrel, which would help boost the valuation of Saudi Aramco IPO. But why not $100 per barrel? Reuters reports that Riyadh […]

It’s one of the most unbelievable energy stories of the year. A Chinese oil company was sitting on what might be a major oil discovery – a 182-million-barrel probable reserve, with great potential to grow. They spent hundreds of millions of dollars and sunk 13 wells, shot or acquired 6,700 km of 2D seismic, and […]

It’s not a widely known fact that the 2010 oil spill caused by the explosion on BP’s Deepwater Horizon platform could have been even worse were it not for bacteria. Several species of marine bacteria that feed on ingredients in crude oil and natural gas bloomed during the spill, feasting on Louisiana light, sweet crude. […]

Total announced that it was deploying the first offshore robots at a North Sea platform to test them as maintenance tools. Earlier, Shell inked a contract with an engineering firm to find ways of extending the life of its Leman Alpha offshore platform. Borr Drilling said this month that its $232.5-million acquisition of sector player […]

Bahrain announced the biggest crude oil discovery in its history that will “dwarf” its current reserves, media reported, citing the tiny kingdom’s official news agency. Details on the size of the reserves will be released later this week. Bahrain is the smallest oil producer in the Persian Gulf, drawing its oil from the Bahrain Field […]

LAFAYETTE, La. – On May 10, the LAGCOE Education Fund will participate in South Louisiana Giving Day, a project of Community Foundation of Acadiana. South Louisiana Giving Day is a 24-hour, online fundraising event to inspire the community to come together to contribute as many charitable dollars as possible to support the work of local nonprofit organizations, […]

The Permian has been stealing headlines and analyst attention over the past year, and rightly so, as it’s the only U.S. shale play that continued to grow even when all others suffered during the downturn. But higher oil prices over the past few months have prompted drillers to grow production not only in the Permian, […]

  Get ready for more asset sales in the oil and gas industry. Earlier this month, Devon Energy sold properties in North Texas’ Barnett Shale for $553 million, which analysts said represented a “relatively attractive” multiple of cash flow. Last week Pioneer Natural Resources and Reliance Industries agreed to sell some of their oil and gas properties in […]

Continues Aggressive Push to Form Specialist Groups Serving Oil & Gas Newell, W.Va.—The Marsh Bellofram Company continues to reimagine its BelGAS operations to strategically respond to the needs of the oil and gas industry, announcing the formation of the new BelGAS CP (Control Products) business unit one month after announcing the formation of its new […]

The Australian oil and gas sector is rebounding and is about to receive a further boost from government, the audience at the first day of the Australasian Oil and Gas Exhibition and Conference (AOG) in Perth has heard. Western Australian Premier Mark McGowan told the opening session of the AOG 2018 Collaboration Forum that his […]

With the global oil and gas sector rebounding from a major industry downturn, there will be significant critical interest when more than 8000 visitors from 20 different countries attend one of the world’s leading petroleum events in Perth tomorrow. The three day Australasian Oil & Gas Exhibition & Conference (AOG), which is being staged for the […]

As West Texas drillers pump more crude in coming years, they’ll have to ship almost all of the increase in the Permian Basin’s output to buyers overseas – and most of those exports will pour out of Corpus Christi in South Texas, analysts say. Energy research firm Wood Mackenzie believes U.S. oil producers will pump […]