Brexit Risks Making North Sea Oil ‘Less Attractive’ to Buyers

North Sea oil risks becoming less attractive to foreign buyers if the UK Government fails to secure key trade deals before Brexit, a leading energy business has warned. SK Innovation claimed that Theresa May’s plans risked creating import tariffs, which would reduce the attractiveness of North Sea oil for the global market. The Seoul-based procurement

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Wood Wins £10 million Contract to Provide Offshore Services in North Sea Norwegian Sector

Aberdeen-based Wood has secured a £10 million contract with Equinor to deliver engineering, procurement, construction, and installation services to the Vigdis boosting station increased oil recovery (IOR) project. It will provide topside modifications to enable the tie-in of subsea equipment to offshore platforms Snorre A and Snorre B, which process oil from the Vigdis subsea

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Chinese Firm to Construct Ethiopia-Djibouti 767 km-long Gas Pipeline

China’s Poly-GCL Petroleum Group Holdings Limited will build a 767 km gas pipeline between Ethiopia’s eastern Ogadem Basin and an export terminal on the Red Sea, Ethiopian Ministry of Mines and Petroleum said. Ethiopian and Djiboutian government officials agreed that Poly-GCL would begin construction of the pipeline project this year, the ministry said. Last April,

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Repsol Makes Significant Gas Discovery in Indonesia

SKK Migas has confirmed a gas discovery at the Repsol-operated Sakakemang PSC, onshore Central Sumatra, Indonesia, according to Wood Mackenzie’s research director Andrew Harwood. Repsol’s Kali Berau Dalam-2 well re-entered after well control problems in late 2018, having targeted the Pre-Tertiary fractured basement play. Prior to drilling, the prospect was estimated to hold in the

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California’s Dirty Oil Gets Pricey Amid Venezuela Sanctions

California doesn’t usually come to mind when talking about the U.S. oil boom, but the state’s dirty oil is commanding an increasingly large premium amid an international shortfall of dense, high-sulfur crude. Refiners in the Golden State have been forced to import most of their crude as the state’s production has dwindled. While production from

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