Energy Voice | Rosneft approves £1.5bn share buyback scheme

Russian oil company Rosneft has approved a £1.5billion share buyback scheme as it looks to become more attractive to investors. The buyback, for up to 340million shares, will run until December 31, 2020 as part of the firm’s plans to become more profitable and raise its share price. Less than 10% of Rosneft shares are […]

Energy Voice | Saudi Arabia orders Canadian envoy to leave over criticism

Saudi Arabia has ordered the Canadian ambassador to leave the ultraconservative kingdom within 24 hours after his nation criticised the recent arrest of women’s rights activists. The Saudi Foreign Ministry also said it would freeze “all new business” between the kingdom and Canada. Some 10% of Canadian crude oil imports come from Saudi Arabia. Canadian […]

Energy Voice | Prosafe in £1.8m contract extension for BP’s Clair Ridge

Vessel contractor Prosafe has been awarded a one-month contract extension for BP’s Clair Ridge platform, worth £1.8million. The Safe Caledonia accomodation vessel first started its work for the platform in May, which will now continue until the end of November. BP said last month that it expects production start-up of Clair Ridge in Q4 this […]

Energy Voice | Hedge funds unnerved by trade war cut oil bets to 2-year low

An intensifying trade war between the U.S. and China is scaring hedge funds away from an increasingly volatile oil market. Money managers’ total positions in the U.S. benchmark and Brent have slid to the lowest since 2016. Tensions between Washington and Beijing show no signs of easing, with the Asian giant announcing Friday that it […]

Energy Voice | GulfMark gets competing offer from Harvey Gulf

Houston’s GulfMark Offshore said it has a competing offer that’s possibly worth more than its pending acquisition by rival Tidewater Inc. GulfMark said New Orleans-based Harvey Gulf International Marine, which just emerged from bankruptcy in early July, is proposing a reverse merger in which Harvey Gulf would be acquired by GulfMark, but the Harvey Gulf […]

Energy Voice | Buzzard field extension gets final approval from partners

Oil firm Nexen Petroleum UK said today that its partners had given it the nod to press ahead with plans to extend the life of the North Sea’s biggest producing field. Nexen, owned by the China National Offshore Oil Corporation, also said the Oil and Gas Authority (OGA) had approved the Buzzard field phase two […]

Energy Voice | UK, EU to block US sanctions on Iran

The UK and EU partners will move to block Donald Trump’s sanctions on Iran in order to preserve peace, they have announced. The EU will take immediate action to block the impact of US sanctions, which came into force on Monday after the US President backed out of the 2015 Iran nuclear deal in May. […]

Energy Voice | KCA Deutag subsidiary in partnership with Kavin Engineering

Aberdeen-headquartered KCA Deutag has entered into a partnership with India’s Kavin Engineering to jointly pursue engineering projects for oil and gas market. KCA Deutag’s subsidiary RDS is a drilling facilities specialist which will be partnering with Kavin. RDS has worked in the sector for more than 40 years, while Kavin has done work for around […]

Magseis Secures Middle East Extension

Magseis has been granted an extension for a cable operation in the Middle East using proprietary MASS nodes and the cable vessel Artemis Athene. According to the Norwegian seabed seismic services player, the project will start in Q3 2018 and have a duration of approximately 7 months. Per-Christian Grytnes, CEO comments: “We […]