U.S. While Commercial Stocks Build Crude Deficit Reaches New High

Kosmos Energy (NYSE/LSE: KOS) confirms that the governments of Mauritania and Senegal have signed an Inter-Governmental Cooperation Agreement (ICA) which enables the development of the cross-border Tortue natural gas field to continue moving forward.

Crowley Fuels announces that Rick Meidel has joined the company as vice president and general manager, responsible for the performance and day-to-day operations of Crowley’s Alaska division. He will be based in Anchorage and report to Rocky Smith, senior vice president and general manager.

On February 5, 2018, Woods Hole Oceanographic Institution (WHOI) sold its majority ownership interest to EOM Offshore’s management team and investors while continuing to receive royalties under the existing exclusive licensing of its stretch hose technology. Rockland Trust Bank provided a line of credit to assist the change in ownership and help assure EOM Offshore’s continued financial strength.

CSA Ocean Sciences Inc. (CSA), known for its integrated approach to science, operations, and safety in the global offshore environment, announces the addition of an experienced and versatile team member Eirik Kydland, who will serve a dual position of Diving Safety Officer (DSO) and Health, Safety, Security, and Environment (HSSE) Manager at the Stuart, Florida headquarters.

BP announces the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below the initial cost estimate.

The Finnish wave energy technology provider Wello has signed an important contract with the Chinese conglomerate CIMC OEI. This contract paves Wello’s way to the vast Chinese energy market and enables Wello to reach a most competitive position in renewable energy technology markets worldwide.

Production optimization specialist company Enpro Subsea has been awarded a frame agreement contract to support leading multinational exploration and production (E&P) company Tullow Oil as part of the operator’s strategic activities in Ghana.

The 151-meter, self-propelled, DP2 jack-up rig Seafox 5 has left the Damen Verolme Rotterdam (DVR) shipyard following a four-month refit in which the boom of its main crane was lengthened to prepare it for a new contract, along with a range of maintenance and other upgrade works.

MacGregor, part of Cargotec, has completed the acquisition of Rapp Marine Group (RMG) to strengthen its offering for the fishery and research vessel segment. MacGregor announced to acquire Rapp Marine in December 2017 for an enterprise value of approximately EUR 16 million.

Aker Solutions won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil, expanding its business in a key international market.

Tackling corrosion issues and developing new materials in the wave, tidal and offshore wind sectors across Europe could save up to €84,000 million for developers and create up to € 82,000 million of supply chain opportunities by 2050, according to two new reports published today.

President Donald Trump has proposed a $179.3 million Fiscal Year (FY) 2019 budget for the Bureau of Ocean Energy Management (BOEM) to safely and responsibly manage offshore energy and mineral resources.

Florida Petroleum Council Executive Director David Mica points to Florida’s significant economic opportunity to safely and responsibly develop Florida’s offshore energy resources in advance of the Bureau of Ocean Energy Management public hearing on the Interior Department’s proposed five-year offshore natural gas and oil leasing plan.

Chevron Corporation (NYSE: CVX) has named Bruce Niemeyer corporate vice president of Strategic Planning, effective immediately. Niemeyer is currently vice president of Chevron’s Mid-Continent Business Unit.

Responding to the demand to safely protect power and data cabling in today’s interconnected world, Flexicon has launched its most extensive flexible conduit ‘Products and Solutions Guide for Hazardous Areas.’