North Sea hit by fall in oil price | FT Business
China National Petroleum Corp., the country’s biggest oil and gas producer, plans a backdoor listing of its engineering assets through a Shanghai-listed petrochemical material supplier and processor it controls.
Hercules Offshore plans to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.
Maersk Drilling acquires a newbuild jackup from Hercules Offshore for $190 million, with the rig to head for the North Sea to commence work on the Culzean gas field.
Amec Foster Wheeler clinches a front end engineering design contract from Kuwait Oil Co. to upgrade its Oil Gathering Center in Kuwait.
Argentina aims to eliminate its need for crude imports while increasing domestic oil output to 653,000 barrels per day (bpd) in 2025, a 23 percent increase from 2015, an official from the Energy Ministry says.