GLG News by Drilling Rig Experts

Jad Mouawad in New York reported in the November 28 issue of the International Herald Tribune that for the first time in a decade, OPEC members face a test of their unity. Falling crude oil prices, reduced demand and declining revenue are on their collective minds. Although these three distressing factors...

The fact that negotiations have started with contractors wishing to delay or defer projects that have not yet started is fully expected and is a part of the normal business for any major construction yard.  These negotiations are still being taken in good faith and involve projects that were not...

Marcus Hand reported in the Lloyd’s List Newsletter on November 27 that Keppel Offshore and Marine announced that Scorpion Offshore, Seadrill and Ezra Holdings are in talks to possibly cancel rig and support vessel contracts worth $871 million. The two jack up contract is valued at $420 million. The...

In September of 2006, a group of doomsayers in Pisa, Italy predicted the end of the Oil Age. Proponents of the theory say that oil production is at or near its peak. Some geologists think that production has already declined. The peak oil "movement" is an alliance of geologists, physicists, oil industry...

Rigzone News reported on November 18 a summary of a report prepared by AFX News Limited regarding possible participation in a Russian liquefied natural gas (LNG) project by U.S. majors Exxon Mobil (XOM) and ConocoPhillips (COP). Alexander Medvedev, deputy chairman of Gazprom said that the project in...

The problem with Detroit is arrogance and know it all..for years now the leadership at Detroit three auto makers insisted on not briniging new and fresh blood from the outside..you do not the autombile industry , you are no good. Yet there are  tremendous talents out there that can can help...

Jad Mouawad reported in the November 22 issue of the International Herald Tribune that a United States appeals court blocked Royal Dutch Shell from drilling the Sivulliq well 16 miles off the shore of Alaska’s North Slope. The court found that the Interior Department was derelict in the conduct of an...

On November 18 the Rigzone Newsletter reported on an article by Peter Millard of the Dow Jones Newswires concerning the intention of Petroleos de Mexico (Pemex) to lift crude oil production in the complex Chicontepec basin. The national oil company is getting ready to drill at 68 locations. The company...

BASF will  close 80 factories as auto, textile and construction companies reduce orders.The company will force 20,000 employees to work short hours. BASF said demand dropped significantly in early November as world economies slumped. BASF abandoned plans of matching 2007 profits. Chemical companies...

Large, complex projects that require years of forward planning won't be effected by temporary high's or low's in the price of crude oil.