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McDermott International Ltd has revealed that its CB&I Storage Solutions business has secured a new contract with Atlantic Gulf and Pacific Company of Manila Inc.
McDermott International Ltd has revealed that its CB&I Storage Solutions business has secured a new contract with Atlantic Gulf and Pacific Company of Manila Inc. (AG&P).
The deal is for the engineering, procurement, and construction of an LNG storage tank for AG&P s Philippines LNG import and regasification terminal, which is currently under construction in Batangas, in the Philippines. As part of the contract, CB&I Storage Solutions will provide the first of two 60,000 cubic meter full containment steel LNG tanks, along with geotechnical investigation, soil improvement, foundation and topside platform structure, pre-commissioning, purging, and commissioning activities.
Petronas (6033:KL) has awarded Welltec an exclusive three-year intervention contract across Malaysia, Welltec reported Tuesday.
The agreement, which took effect on April 1, designates Welltec Petronas’ sole provider of downhole conveyance and powered mechanical services in Malaysia’s East and West regions, Welltec pointed out in a written statement emailed to Rigzone.
“It’s a great team effort that has led to the award of this exclusive long-term contract with Petronas, and Welltec has demonstrated a strong ability to deliver, even through a challenging 2020, high-quality services in a safe manner to the largest assets in the country at a very cost-effective rate,” commented Espen Dalland, Welltec’s area vice president for Asia-Pacific. “This winning combination is the foundation for Petronas awarding us an even larger work scope for the next three years, where we will continue to deliver world-class technology and services.”
ADNOC Logistics & Services (ADNOC L&S) has announced the acquisition of two additional Very Large Crude Carriers.
ADNOC Logistics & Services (ADNOC L&S) has announced the acquisition of two additional Very Large Crude Carriers (VLCC).
The acquisitions include a new-build VLCC, equipped with dual-fuel technology, which is expected to be delivered in the first quarter of 2023, and an existing vessel that is scheduled to join the fleet in the second quarter of this year. The price of the acquisitions was not disclosed by the company.
ADNOC L&S’s latest buys, which follow the announcement of
the acquisition of six VLCCs back in February this year, mean that the company has now added a total crude oil cargo capacity of 16 million barrels this year, ADNOC L&S highlighted.
U.S. shale producers risk another oil-price war with OPEC and its allies if they resume the breakneck production growth, according to Pioneer Natural Resources.
(Bloomberg) U.S. shale producers risk another oil-price war with OPEC and its allies if they resume the breakneck production growth of the last decade, according to Pioneer Natural Resources Co.
Shale, and not the pandemic, was responsible for the initial oil-market crash of 2020, Chief Executive Officer Scott Sheffield said at BloombergNEF’s annual summit. The cartel, frustrated at U.S. producers’ success in taking market share from OPEC, allowed prices to tumble, he said.