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On March 29, 2018, our 70528 drilling team officially started drilling the Mobei 903 well in Xinjiang Oilfield. During spring, in order to help the production of Xinjiang oil fields, our company organized the best equipments and resources to participate in the “Chunlei Action” of Xinjiang oilfield exploration and development. Before the commissioning of the rig, the installation time was very short. Plus, before the Spring Festival, it was the coldest season in Xinjiang Oilfield. The minimum temperature was approaching minus 30 degrees once. However, our employees were not hindered by the weather. They were instructed by the Xinjiang Oilfield and cooperated with the rig manufacturer Baoji Machinery Factory. Under the "Winter Operation Procedure", the drilling rig is commissioned ...
发布时间: 2018 - 04 - 12
(Bloomberg) -- Europe is awash with low-priced natural gas, thanks to Russia and Norway using a Saudi-like tactic to hold market share.Utilities from EON SE to Centrica Plc are beneficiaries as Europe’s two biggest gas suppliers provided a record amount of the fuel in the first quarter, according to Societe Generale SA. The glut discouraged cargoes of U.S. liquefied natural gas and contained growth of imports from Qatar.There are parallels with the global oil market where Saudi Arabia, the biggest producer, boosted output last year to fend off U.S. shale drillers as crude prices collapsed. Gas...
发布时间: 2016 - 04 - 21
Mergers and acquisitions activity steadies from the end of 2015 into the current year, but the dollar value of those transactions was down year-over-year. Constrained cash flow, highly leveraged assets and over-extended balance sheets have remained concerns at oil and gas companies – all of which has led to a “leaner for longer” strategy in the “lower for longer” market.  Although this approach has meant mergers and acquisitions (M&A) activity has remained flat in the United States, according to a new report from PwC US, it positions these companies for a market recovery.  “We be...
发布时间: 2016 - 04 - 21
(Bloomberg) -- The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless.The Obama administration is expected to issue the sweeping new regulations Thursday, a person familiar with the decision said, as part of an effort to reduce the number of well blowouts after the explosion aboard the Deepwater Horizon rig in 2010. The government has pegged the rules’ costs at less than $1 billion.The changes would arrive amid the worst oil slump in a generation...
发布时间: 2016 - 04 - 14
Malaysia's state-owned oil firm Petroliam Nasional Berhad (PETRONAS) urged liquefied natural gas (LNG) consumers and producers to strive for a more equitable relationship in the current oversupplied market to ensure the continuity and sustainability of the business, Ahmad Adly Alias, vice president of LNG Marketing, said Wednesday at the LNG 18 Conference in Perth, Australia.  “Currently, there is a perception that the LNG market will be oversupplied for a long time, prompting many buyers to demand better commercial terms from sellers. However, if LNG prices continue to be depressed, ther...
发布时间: 2016 - 04 - 14
OPEC cuts its forecast for global oil demand growth in 2016 and warns of further reductions citing concerns about Latin America and China, pointing to a larger supply surplus this year. LONDON, April 13 (Reuters) - OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year.  The Organization of the Petroleum Exporting Countries also said top exporter Saudi Arabia kept output steady in March - a sign Riyadh is serious about a plan to be discuss...
发布时间: 2016 - 04 - 14
(Bloomberg) -- Saudi Arabia’s sovereign wealth fund could receive $106 billion in cash from the sale to the public of a 5 percent stake in oil giant Aramco’s parent company, according to the Sovereign Wealth Fund Institute.  “Suitable investors in Aramco could be long-term institutional investors such as the Canadian pensions, or even Asian sovereign wealth funds,” the Las Vegas-based consultant and researcher said in a report released on Thursday. “If an Aramco deal goes through, it could be a blueprint for other Saudi state-owned entities to follow, thus potentially increasing the cash ...
发布时间: 2016 - 04 - 08
(Bloomberg) -- In the energy world, India is becoming the new China.The world’s second-most populous nation is increasingly becoming the center for oil demand growth as its economy expands by luring the type of manufacturing that China is trying to shun. And just like China a decade ago, India is trying to hedge its future energy needs by investing in new production at home and abroad.India may have one advantage its neighbor to the northeast didn’t. While China’s binge came during a commodity super-cycle that saw WTI crude reach a high of $147.27 a barrel in 2008 -- due in no small part to it...
发布时间: 2016 - 04 - 08
"Significant and long-term employment" awaits offshore Ireland if oil is discovered as a result of the 2015 Atlantic Margin Licensing Round, says Europa Oil & Gas CEO Hugh Mackay.“Significant and long-term employment” awaits offshore Ireland if oil is discovered as a result of the 2015 Atlantic Margin Licensing Round, according to Europa Oil & Gas CEO Hugh Mackay.  Commenting on the potential of future finds off the coast of Ireland, Mackay told Rigzone that any discoveries would be transformative for the country and would likely result in a lot of new jobs.  “In te...
发布时间: 2016 - 04 - 08
NEW YORK, March 29 (Reuters) - Oil prices fell about 3 percent on Tuesday, reflecting growing concern that a two-month rally was fading as demand fails to keep up with swelling global supply, including new output from Kuwait and Saudi Arabia.  Remarks by U.S. Federal Reserve Chair Janet Yellen, which were seen as generally dovish for the interest rate outlook, sparked a brief rebound before prices slumped again.  Brent futures settled down $1.13 at $39.14 a barrel while U.S. crude settled $1.11 lower at $38.28 per barrel.  The decision by Kuwait and Saudi Arabia to resume oil pr...
发布时间: 2016 - 03 - 30
Oil companies operating in Mexico's deep waters must use national suppliers for 8% of the projects by 2025, the government says. MEXICO CITY, March 29 (Reuters) - Oil companies operating in Mexico's deep waters must use national suppliers for 8 percent of the projects by 2025, the government said on Tuesday, a relatively low rate meant to encourage foreign and private firms to bid on contracts.  Mexico's oil regulator has scheduled its first-ever deep water auction in early December for 10 blocks in the Gulf of Mexico, after constitutional amendments in 2013 ended a nearly eight-decade mo...
发布时间: 2016 - 03 - 30
While the upstream sector continues to struggle in the low oil price environment, Rigzone explores possible opportunities in midstream. Judging by the many headlines we’ve seen over the past 18 months, words such as layoffs and bankruptcies paint a scary picture for the upstream sector – which has, perhaps unfairly, been dubbed the Debbie Downer of the oil and gas industry.   While activity on the upstream side has been stalled, downstream has fared fairly well in regard to hiring, partly due to an inflated candidate pool of skilled professionals who have been laid off beca...
发布时间: 2016 - 03 - 30
One of the warning lights that there's too much oil around is no longer flashing, adding to signs that global crude markets are finally on the mend.(Bloomberg) -- One of the warning lights that there’s too much oil around is no longer flashing, adding to signs that global crude markets are finally on the mend.  Just a month ago, oil traders were weighing up whether to park unwanted crude aboard tankers while BP Plc Chief Executive Officer Bob Dudley joked that swimming pools might be needed to hold the excess. Yet instead of offering bumper profits, as in previous market gluts, stock...
发布时间: 2016 - 03 - 22
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