Tradequip Blog & Oilfield Industry News

LOCATION: Gastech Exhibition & Conference, Exhibition Hall 3. Fira Gran Via, Av. Joan Carles I, 64 08908 L’Hospitalet de Llobregat, Barcelona (Stand O147 – On floor Presentation Theatre), TIME: Wednesday, 19 September 2018, 14:50 INFO: Gastech, the exhibition and conference at the forefront of the key gas, LNG and energy industries, is hosting a press conference with a panel of […]

Singapore, 9-3-2018 – A report published within the Journal of Loss Prevention in the Process Industries uncovered that 74 percent[1] of accidents that occurred within industrial facilities took place in oil storage terminals and petroleum refineries. Human error was also identified as the biggest risk to terminal operators[2]. As a result, the tank storage and terminal industry […]

The number of U.S. rigs drilling for oil saw its first increase in three weeks, Baker Hughes said Friday in its weekly report. U.S. crude oil was on track to post its second straight weekly gain Friday, largely on concerns about an expected decline in supply from Iran due to U.S. sanctions and Venezuela’s declining […]

Enhances Transocean’s position as the leader in ultra-deepwater and harsh environment drilling; Adds nine high-specification ultra-deepwater drillships, two harsh environment semisubmersibles, and two high-specification ultra-deepwater drillships currently under construction; Results in a combined fleet of 57 floaters, with 17 of the top 50 and 31 of the top 100 ultra-deepwater drillships in the industry(1); Enhances […]

BP is considering the offloading of some older oil and gas production assets after it bought the shale business of BHP Billiton, the company told Bloomberg in a statement. The supermajor agreed to buy BHP’s assets in the Eagle Ford, the Permian, and Haynesville in two transactions for a combined US$10.5 billion. Now it plans […]

Oil prices slip after Wednesday’s surge, as the trade dispute between the United States and China deepens. The United States and China slap another $16 billion of tariffs on one another’s goods, raising fears of slower economic growth that could dent oil demand. Crude futures continue to draw support from a bigger-than-anticipated drop in U.S. […]

   Tiger Capital Group announced that it has provided Commander Oilfield Services, LLC (“Commander”) with a $5 million capital infusion that allows the company to add premium assets and expand its service lines to meet strong customer demand in the Permian Basin. Commander, which was formed by Scott Milliren, Kyle Greemon and Norwegian private equity firm Norse Partners, is using the funds […]

Chinese refiners and the U.S. oil industry welcomed a decision by Beijing last week to exclude crude oil exports from a list of goods worth US$16 billion, on which China will impose a 25-percent tariff in response to the latest U.S. round of tariffs on Chinese goods with the same value. Since the decision was […]

Higher oil prices this year boosted U.S. oil production, and the U.S. oil industry played a large part in America’s impressive second quarter economic growth—the fastest growth since the third quarter of 2014. Real U.S. gross domestic product (GDP) rose at an annual rate of 4.1 percent in the second quarter of 2018, according to […]

Maersk Drilling has been awarded contract extensions for the high-efficiency jack-up rigs Maersk Resolute and Maersk Resolve by Petrogas E&P Netherlands B.V. and Wintershall Noordzee B.V., respectively. The extensions allow the two rigs to continue their high-performance operations in the North Sea. Maersk Resolute has been awarded a 56-day contract extension by Petrogas E&P Netherlands […]

Upgrades will increase production of motor fuels and aromatics in the Philippines DES PLAINES, Ill., – Honeywell (NYSE: HON) announced today that Petron Corporation will expand and upgrade its Limay, Bataan refinery in the Philippines with technologies from Honeywell UOP. When the project is completed, the refinery will produce 75,000 barrels per day of refined fuels and 1 […]

Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced that the Mt. Providence well began producing on July 10, 2018, approximately 60 days ahead of the originally scheduled completion date in early September. Current gross production of 3,850 barrels of oil equivalent per day (“Boe/d”), which is near the top of the previously […]