GLG News by Semi-Submersible Drilling Rig Experts

·        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.

The simple fact is that the world is no where near running out of oil and/or natural gas.   Former Aramco Chief Engineer and spokesperson Nansen Saleri has spoken with uncommon clarity on this issue; most recently in a Wall St. Journal Article on March 4th titled “The World Has Plenty of Oil.”...

LNG has long been considered a panacea for US gas demand and a price-dampener in the near term.  However, the fact remains that there is simply not enough LNG supply available at competitive prices to meet any significant new demand from recently-built or in-progress US LNG terminals.  Any...

The idea of cutting jobs to reduce costs has been the bane of the energy industry since the price crash of the mid-1980's resulting in enormous job losses and set the stage for today's vast shortage of personnel and human resources.  Despite such a vivid object lesson, both BP and Shell...

The Bloomberg article presents the view that the largest of the international oil companies will increasing find their access to major projects compromised by the intrusion and involvement of well-funded and frequently publicly traded National Oil Companies such as Petrobras, Gazprom, and PetroChina. ...

For over 100 years, the Western international oil and gas companies (IOC's) have dominated the global oil and gas scene.  However, their technology and personnel ranks were decimated by the layoffs of the 1980's and 90's. Now, the national oil companies (NOC's) are becoming increasingly tough global...