“Jackup Scrapfest 2018”

Rig Lynx

Nearly 20 jackups left the offshore rig fleet during the first quarter of the year. A lot more are coming as rig owners throw in the towel for their old assets. As we’ve mentioned before, nobody likes scrapping jackups. They’re cheap to stack, risky and expensive to move, and generally have lower steel value than drillships and semisubs. Until recently, owners

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The Panama Canal Needs To Be Expanded Again

Rig Lynx

When the Panama Canal was expanded, it drew a lot of enthusiasm, with many seeing U.S. oil and gas exports surging thanks to the wider waterway that cuts the journey to several key markets by between 15 and 30 days, therefore cutting the costs of this journey as well. Besides the shorter journey times for tankers and LNG carriers, the

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OPEC Oil Producer Angola Seeks IMF Help To Reform Economy

Rig Lynx

Africa’s second-largest oil producer Angola is seeking non-financial assistance from the International Monetary Fund (IMF) to help it with reforms aimed at revitalizing the economy that has suffered from low oil prices. OPEC member Angola has requested an agreement, known as a Policy Coordination Instrument, to help it implement a macroeconomic plan of the new Angolan government, the African country’s finance ministry

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Marine Life Thriving Around Oil and Gas Structures

Rig Lynx

PEOPLE OFTEN START OFF in conservation with great intentions. They become activists. They advocate for causes. But they can quickly get bogged down and discouraged when reality hits: conservation isn’t black and white. Successful conservationists learn to view the “other side” (typically resource extraction industries) not as the enemy per se but as potential partners in solving problems long term. And

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The Bigger the Party, the Bigger the Hangover: Why European Gas Storage May Struggle to Refill this Summer

Rig Lynx

European gas storage inventories finished the winter season at five-year lows, over 8 billion cubic meters, or 50%, below last year’s level due to rapid gas withdrawals at the end of the season. This creates a big storage refill requirement over summer 2018, which will keep gas market fundamentals tight, according to Bloomberg New Energy Finance (BNEF) forecasts. In this

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Russian nuclear energy deals with Egypt reach almost $60bn

Rig Lynx

Russian state corporation Rosatom, which is building Egypt’s first nuclear power plant (NPP), has a range of contracts worth tens of billions of dollars with the country, the company’s chief has announced. According to Rosatom head Alexey Likhachev, the company launched a commercial package of all Egyptian contracts in mid-December. It includes the construction of a WWER (Water-Water Energetic Reactor)

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The Overlooked Factor That Could Derail The OPEC Deal

Rig Lynx

While the continuing Russia-OPEC discussions are dominating headlines, with a focus on a possible extension of the oil production cut agreement into 2019, the market is far from stable. Growing geopolitical tensions, currently stemming from Syria and Iran, have already pushed oil and natural gas prices up. The statements made by the International Energy Agency and OPEC ministers in Paris

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China To Double Shale Gas Output

Rig Lynx

China is on track to double its shale gas production to 17 billion cubic meters over the next three years, according to Wood Mackenzie analysts. In a note released yesterday and cited by Reuters, Wood Mac said China will add almost 700 new wells by 2020 at three large fields, two of them operated by PetroChina and one by Sinopec, all in

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Oil & Gas Orientation for Newcomers to the Industry

Rig Lynx

IPAA is pleased to introduce our new Oil and Gas Orientation course, specifically designed for recent newcomers to the industry. Newcomers in almost any role can get off to a quicker start and become a better team player if they have at least a basic working knowledge of the industry. Many companies are behind on training because of recent cost

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