News

Understanding MIG/MAG Welding Process, Machines and Accessories.Metal Inert Gas (MIG) / Metal Active Gas (MAG) welding refers to a group of arc welding processes that use the heat generated by a DC electric arc to fuse the metal in the joint area. A continuous electrode (the wire) is fed by powered feed rolls (wire feeder) into the weld pool.An electric arc is created between the tip of the wire and the weld pool. The wire is progressively melted at the same speed at which it is being fed and fo …

Halliburton plans sale of Baker’s offshore fluids unitAlmost 16 months after announcing its takeover of oilfield services rival Baker Hughes Inc., Halliburton Co. is adding yet more assets to the list of businesses it plans to sell to appease antitrust regulators who’ve been stalling the deal as reported by world oil.Halliburton plans to divest Baker’s offshore drilling-and-completions fluids division and the bulk of Baker’s completion systems, according to people familiar with the matter. …

Shell sells its interest in Maclure field(UK) to Noble UpstreamOffshore Energy Today reports that Nobel Upstream, the independent UK-based exploration and production company, has signed a sale and purchase agreement to acquire a 7.59 percent non-operated interest in the Maclure oil and gas field, in the UK North Sea, from Shell.Completion of the transaction remains subject to necessary approvals.The Maclure field was discovered in 1991 and put into production in 2002. The field is currently …

Maersk Oil (Danish Oil Company) lost $2.1bn in 2015Danish oil company Maersk Oil made a loss of $2.1bn in 2015, compared to a loss of $861 million in the full year 2014. According to the oil firm, the result was negatively affected by impairments after tax of $2.6 billion due to the low oil price expectationsn reports Offshore Energy Todayhe underlying profit was down to $435 milion, from $1 billion a year ago, negatively impacted by lower average oil prices but positively impacted by a hi …

Shell evacuates eighty workers from North Sea platformShell has evacuated eighty workers from one of its UK North Sea platform. The news first broke on the Scottish television website STV on Monday reports Offshore Energy TodayAccording to Offshore Energy Today on Monday, a Shell spokesperson confirmed that  there has been an evacuation of Brent Bravo platform on Sunday night. “Shell UK can confirm that an incident occurred on Sunday evening on its Brent Bravo platform, loc …

Fred Olsen Energy terminates its contract with Hyundai Heavy Industries Fred. Olsen Energy has informed that its dispute with Hyundai Heavy Industries (HHI) regarding a contract for the design and construction of a semi-submersible drilling rig Bollsta Dolphin is subject to arbitral proceedings. In October 2015, South Korea’s rig builder Hyundai Heavy asked for more time and money from Fred. Olsen Energy to complete building the rig. Days later, Fred. Olsen Energy terminated the contra …

Shell Sells its Shareholding company to Malaysia Hengyuan International limitedShell has reached a conditional agreement with Malaysian Hengyuan International Limited (MHIL) for the sale of its 51% shareholding in the Shell Refining Company (SRC) in Malaysia for $66.3 million. It is MHIL’s intention for SRC to invest in the upgrades needed to meet the Euro 4M and Euro 5 requirements. The transaction is expected to complete in 2016, subject to obtaining regulatory approval. ShellSubsea Wor …

 BP Plc aims to double  its Natural Gas production in the next fours years in Egypt amidst weak oil prices.Offshore energy today reports that" Britain’s BP Plc aims to double natural gas production in Egypt in the next four years despite weak oil prices as Egypt’s burgeoning energy market offers hope for its battered economy.Egypt is on a drive to ramp up oil and gas production – aggressively signing exploration contracts, renegotiating production prices, and lobbying companies to …

 Wood Group wins  Shell Prelude FLNG contract Wood Group has secured a three year contract with Shell Australia’s Prelude, Floating Liquefied Natural Gas (FLNG) project as reported by offshore energy todayPhoto:Offshore energy todayPerth-based Wood Group Kenny will provide specialist consultancy services for flexible riser integrity management prior to and during operation of Prelude FLNG, which will be located 475km north-north east of Broome in Western Australia.“The f …

Shell shuts down its Abu Dhabi gas reservoirs According to the company statement "Royal Dutch Shell plc announced Monday that it will exit the joint development of the Bab sour gas reservoirs with ADNOC (Abu Dhabi National Oil Company) in the Emirate of Abu Dhabi, after an evaluation of the project’s technical challenges and costs. As a result of Shell’s exit, the energy firm will stop further joint work on the Bab sour development, which “does not fit with the company’s strategy, particula …