CALGARY (Bloomberg) -- There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.
SINGAPORE (Bloomberg) --- Enterprise Products Partners, which got U.S. approval to ship condensate overseas this year, is offering to export the lightly processed oil to Asia in 2015, according to three traders with knowledge of the matter.
ST. PETERSBURG, Russia -- Gazprom Neft has signed a number of agreements with Vietnamese companies aimed at developing cooperation between Russia and Vietnam. The documents were signed in the presence of Vladimir Putin and the General Secretary of the Communist Party of Vietnam, Nguyen Phu Trong.
ISTANBUL, Turkey (Bloomberg) -- The number of oil producers in Kurdistan will slump by three-quarters in five years with the biggest in the industry taking control in the region, according to Genel Energy Plc CEO Tony Hayward. “It’s likely that we’ll end up with, perhaps, five or six of the largest companies operating, with Genel, Exxon, Chevron ending up as major operators,” Hayward said in a Nov. 21 interview during the Atlantic Council conference in Istanbul. “It’s what happens in most hydrocarbon provinces.”
KUALA LUMPUR, Malaysia -- As a part of a plan to restructure its business activities in Asia Pacific, Petroleum Geo-Services has decided to relocate its regional headquarters from Singapore to Kuala Lumpur. The move will result in consolidation and centralization of resources and lead to improved competitive advantage and reduced costs, all of which are important in the current challenging market.
VIENNA, Austria (Bloomberg) -- Each time oil takes a dive, the idea of Russia allying with OPEC to shore up prices gets an airing. It happened in the months after 9/11 and again during the 2008 financial crisis. Now it’s back on the agenda. Russia’s top two oil officials are in Vienna to meet OPEC nations before this week’s meeting maps out the group’s response to this year’s tumble in prices.
CALGARY, Alberta (Bloomberg) -- The Canadian oil-sands frenzy that led to $265 billion of investments in less than a decade won’t immediately stop with $75 crude. Two years from now is another matter. Oil-sands projects are multibillion-dollar investments made upfront to allow many years of output, unlike competing U.S. shale wells that require constant injections of capital. It’s future expansion that’s at risk.
SYDNEY (Bloomberg) -- Beach Energy Ltd. is considering selling its holdings in Egypt as the company focuses on Australia, where it’s exploring with Chevron Corp. The decision on what to do with the assets, which include a gas project that’s forecast to begin output in the first quarter of 2015, will likely be made in the first half of next year, Managing Director Reg Nelson said Nov. 25 in an interview.
SKUDENESHAVN, Norway -- Solstad Offshore (SOFF) has received confirmation from Chevron Offshore (Thailand) for the 2015 Offshore Installation Campaign utilizing its DLB Norce Endeavour.
LONDON -- Spectrum has started a 3,600 km multi-client 2D seismic survey offshore Uruguay.
BRESKENS, The Netherlands -- Vroon has named five of its newbuilding vessels during ceremonies held on Nov. 25, at Fujian South East Shipyard in Fuzhou, China.
MILAN, Italy -- Saipem, through its controlled company ERSAI Caspian Contractor, has been awarded a major engineering and construction contract in the Caspian Region.
ABERDEEN, United Kingdom -- Faroe Petroleum has completed the sale of its 10% interest in the undeveloped Glenlivet gas field, West of Shetland to Total.
BULLE, Switzerland -- On the premises of Liebherr in Rostock, a remarkable single lift of the new RL-K 7500 subsea crane recently took place in the course of its loading for shipment to Asia. The lift was executed by four Liebherr cranes.
LODDON, England -- Oilennium, a Petrofac Training Services company that provides eLearning training services to the oil and gas industry, has announced that since Dolphin Geophysical deployed the ConTrainer on its global fleet of seismic vessels, the company has experienced a dramatic improvement in its ability to deliver quality, consistent health, safety and technical training to its crews offshore.
HARTLEPOOL, United Kingdom -- Royal Niger Emerging Technologies, a Nigerian service company, has awarded JDR a fast track contract supporting the West African Abo project for the manufacture of a 1.55 km hybrid steel tube and thermoplastic umbilical.
JERSEY CITY, New Jersey (Bloomberg) -- New York-traded crude oil will probably drop another $30 in the next two years as long-term cycles in commodities and currencies converge, no matter what happens at this week’s OPEC meeting and Iran nuclear talks, according to brokerage United-ICAP. West Texas Intermediate crude, the U.S. benchmark, has collapsed five times since the contract’s introduction in 1983, said Walter Zimmerman, chief technical strategist for United-ICAP in Jersey City, New Jersey.
FORT LUPTON, COLORADO -- McAda Fluids Heating Services and McAda Drilling Fluids has broken ground on a 10-acre facility near Fort Lupton. The new facility, to be open in spring of 2015, will serve the Niobrara shale and other Rockie Mountain regional activities.
MOSCOW -- Gazprom Neft Orenburg has been announced as the winner in a recent auction for geological prospecting and E&P rights to the Yagodny license area in the Orenburg Oblast, a federal subject of Russia. Covering 500 sq km in total, the license area includes Zemlyanskoye field, originally discovered in 1978. Drilling of exploration and prospecting wells, as well as 2D and 3D seismic works, had previously been undertaken within the license area.
COPENHAGEN, Denmark -- Hess has exercised the four one-well options included in the current contract for the jackup rig Maersk Resolute. Each of the four additional wells has an estimated duration of around 90 days implying an extension of the current contract by about one year.