GLG News by Semi-Submersible Drilling Rig Experts

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...

Syria is a declining oil producer under US Embargo. Sinopec is expanding their spheres in oil and gas production besides their core refining business. The Tanganyika acquisition is a difficult operation due to intense reservoir technology. If Tanganyika success continuous with this takeover, it will...

Major implications are in the safety of the contracts signed with the Kurdistan Regional Government and requirement of more funding in the absence of oil exports.

Demand for commodities carried bulk diminishing Shipyard order book very large Older vessels retained in servicefor recent higher earnings Finamcial constraintes affecting ship yards and ship owners

DNO 2008 First Quarter results reveal the latest action in the North Iraq petroleum business. Results show the effects of revised PSA terms, amount of finding and development costs. It also shows the power that the controlling authority has over the equity rights.

·        Iraqi Oil Ministry opposes foreign or private ownership of natural assets, as contemplated by the production sharing type contracts (PSCs). ·        PSCs allow the oil companies book their share of the reserves...

 BP and CoP seem to be making an early commitment to build the Arctic Gas Line.  However,  when all of the underlying issues and politics are analyzed, the impartial observer has to ask if this is a "real" alternative to the other options that have been put forward or is it competitive...

DNO officials increasingly more transparent, expressed their strong believes that the regional Kurdish government authorities gave indications of agreement between the regional and central government in oil export rights. If achieved, this would mean an agreement on oil revenue sharing and oil law for...

Older PSA agreements are under revision for interest dilution in Northern Iraq by the Kurdish Regional Government. At the end of last year more than 15 new agreements were signed with foreign companies. The release of new well activity by DNO in their Erbil EPSA is the first discovery well this year....

Neither new discovery nor exploration activity is reported in the Caspian region. This project, if proves to be fruitful may catalyze new interest to the region.