And there was much rejoicing in the land.... Gas Prices

[matts5.0]

Gas went up. God damnit.
Could more of you fuckers go back to being unemployed please?

You're a classy fella.

[Ruffdaddy]

Whoa!!! 29!!!

[Strychnine]

Wow.

-26 Oil
-2 Gas
-1 Other

Oil total is 614 . Lowest since Aug 2010.
Overall total is 809. Lowest since May 2002.

[KBScobravert]

Gas and oil arent the same...

And since you obviously didnt read the thread....the layoffs are only picking back up.

I survived the Halliburton lay offs to frac in Alvarado (even though my home site is now El Reno) on Wednesday. We were totally prepared to see HR waiting for us when we returned to the yard to go on days off.

Doesn't matter though. I had an initial offer to go back to my old life by 5pm that evening. As soon as a few assessments are done and the .gov approves the bid, I am heading to Africa. Back to contracting.

[Broncojohnny]

At least this thing might work itself out now. Oil isn't going back up as long as these companies keep borrowing and drilling.

[03mustangdude]

I survived the Halliburton lay offs to frac in Alvarado (even though my home site is now El Reno) on Wednesday. We were totally prepared to see HR waiting for us when we returned to the yard to go on days off.

Doesn't matter though. I had an initial offer to go back to my old life by 5pm that evening. As soon as a few assessments are done and the .gov approves the bid, I am heading to Africa. Back to contracting.

Good luck, you still in the oil field for the goverment?

[93LXHORSE]

I survived the Halliburton lay offs to frac in Alvarado (even though my home site is now El Reno) on Wednesday. We were totally prepared to see HR waiting for us when we returned to the yard to go on days off.

Doesn't matter though. I had an initial offer to go back to my old life by 5pm that evening. As soon as a few assessments are done and the .gov approves the bid, I am heading to Africa. Back to contracting.

Angola?

[KBScobravert]

Angola?

South Sudan but they need to win the bid on a Somalia project to move that manager over and open the spot for me.

Good luck, you still in the oil field for the goverment?

No. I have only been in frac for 9 months. Before that i was doing security for government contractors like kbr and fluor supporting war fighters in Afghanistan.

[no4njnk]

Angola is booming right now, or at least my customer is. Customer wants me to redesign the hydraulics on some snubbing jacks and pump down units. Hope it goes through.

Third party work seems to be where it is at. Halliburton and Schlumberger are farming stuff out in places like Angola.

[Strychnine]

OPEC President Arrested In London


Nigeria's former oil minister and the current president of OPEC, Diezani Alison-Madueke, was reportedly arrested in London. The Nigerian newspaper Premium Times reported that the UK National Crimes Agency made the arrest Friday morning, alongside four other people who as of this writing have not been identified.

Alison-Madueke was the North African country's OPEC minister under former president Goodluck Jonathan until May 2015. The Premium Times spoke to sources who said she was arrested for offenses related to corruption, bribery and money laundering.


Nigeria's former oil minister Diezani Alison-Madueke is OPEC's first female president

he British High Commission in Nigeria confirmed to the Premium Times that arrests were made Friday but did not disclose the identities of those involved.

Joseph Abuku, Press and Public Affairs Officer, told the paper, “This morning, five people between the ages of 21 and 60 were arrested on suspicion of bribery and corruption offences. The crimes are being investigated by the National Crimes Agency.
“The National Crime Agency does not confirm identity at arrest nor provide information that could be used to corroborate the identity of an arrested individual.” Nigeria's former central bank governor Lamido Sanusi was fired during Alison-Madueke's tenure after he publicized that over tens of billions of dollars of oil revenues had been unaccounted for at NNPC between January 2012 and July 2013.


A Controversial Career

Alison-Madueke has been accused of several corrupt dealings, and has stayed away from Nigeria since Buhari was sworn-in as president in May. She was first appointed to Nigeria's federal cabinet in 2007. Formerly a director at Shell Petroleum Development Company of Nigeria, she was appointed Minister of Transport by the late President Umaru Yar'adua. In late 2008, she was appointed to the mines and steel development ministry.

In February 2010, after Goodluck Jonathan became acting president, Alison-Madueke was named Nigeria's first female oil minister. She held this position until May 29, 2015, when Buhari was inaugurated president. Before her time in Nigeria's O&G sector, Alison-Madueke was investigated by the Nigerian Senate for allegations that she paid N30.9 billion to contractors while she was transportation minister.

In 2009, the Senate also indicted Alison-Madueke and recommended that she be prosecuted for allegedly transferring N1.2 billion into a private account of a toll company without due process.

In November 2014, she was elected the first female president OPEC. As president of OPEC, Diezani Alison-Madueke is responsible for liasing with member countries and Secretary General Abdullah al-Badri if an emergency meeting is convened.

Last February, Alison-Madueke called for an emergency meeting of OPEC members to address falling oil prices. She told the Financial Times at the time that if the oil price dropped "any further it is highly likely that I will have to call an extraordinary meeting of OPEC in the next six weeks or so."


Buhari Takes On Oil Corruption

Earlier this week, Nigerian President Muhammadu Buhari hinted that those involved with corruption in Nigeria’s state-run company, the Nigerian National Petroleum Corporation, would soon be prosecuted. He also said Tuesday in New York, where he has been attending the UN General Assembly, that he would appoint himself head of the OPEC member's oil portfolio.

Buhari has made taking on corruption in Nigeria's oil sector a top priority. Since his inauguration on May 29, he has pledged to crack down on graft, including in the oil sector, on which the government relies for approximately two-thirds of revenue and 90% of export earnings. The president has pledged to recover "mind-boggling" sums of stolen oil revenue via enacting a complete overhaul of state-run Nigerian National Petroleum Company (NNPC). Last year, Buhari's predecessor Goodluck Jonathan suspended then central bank Governor Lamido Sanusi following his allegation that the NNPC had not remitted $20 billion to the government.

A 2011 report by Transparency International and the Revenue Watch Institute, cited by Bloomberg, showed that the NNPC had the worst disclosure record of 44 global and domestic energy firms evaluated.In June, Buhari dissolved the board of NNPC, which marked the first move in reforming Nigeria's O&G sector.

Did Miss Cleo get a new job and then not see this coming?

[93LXHORSE]

Angola is booming right now, or at least my customer is. Customer wants me to redesign the hydraulics on some snubbing jacks and pump down units. Hope it goes through.

Third party work seems to be where it is at. Halliburton and Schlumberger are farming stuff out in places like Angola.

Yeah that's me.... I work for an offshore crane company and we stay busy. The offshore stuff seems to still be going strong. The boat I am on has a 2 year Shell contract to go around and commission wells and do repairs, install jumpers, flowlines, flying leads, etc.

Right now we are sitting over the deepest well in the world, right next to the Atwood Condor drilling rig and the Perdido processing platform.

The Transocean rig I worked on back in Jan-Feb went over to Angola to grab all that oil they found over there - at a really low day rate, I might add - something like $250,000 a day or something.

[Strychnine]

Yeah that's me.... I work for an offshore crane company

seatrax?

[93LXHORSE]

seatrax?

No Sir, Huisman North America. Division of Huisman Netherlands. Huisman actually builds entire drill ships now. Our equipment is wide ranging, from pipe lay, reel lay systems, to heavy lifting equipment, to entire systems on drillships, like Noble's Bully 1, Bully 2, Globetrotter 1&2....

I really didn't know anything about the oil business and still don't really, but I do pay attention to what the cranes are dropping down to the sea floor as well as watch the ROV feeds, etc...

But mainly I am a hydraulic / PLC Field Engineer..

[93LXHORSE]

My company secured a contract with the vessel operator to provide operations support for this crane for the next 2 years. I happened to be the body they threw out here to the wolves during an initially extremely tense situation, now the client likes me and I've got a regular rotation out here.

As it happens right now, the job we are on was to go out to the Perdido platform and the ROV's were to go down and inspect the mooring lines that are holding it to the sea floor.

So, 48 hour transit from Port Fourchon out to location, then a couple of days of that.... but then we got pulled off to assist the Atwood Condor platform. Their ROV system broke. I believe the winch failed, or the umbilical, or something. At any rate, we came over and parked next to the rig, they then lowered a couple of FMC guys from the rig over to us, along with a company man, so they could continue with their project, which was to do some well control stuff, turning on and off some valves on the FMC stuff subsea.

But, now the Normand Flower is out here next to us as well, they are going to take over and allow us to go back to doing our inspection of the mooring lines.

It's quite a party out here right now, several support vessels hanging around the rig.

Dynamic Positioning allows for some incredible shit to go on offshore. It's unbelievable how close these vessels will set up operations next to each other and stay locked in a spot for days...

[Strychnine]

-16 total US land today.



Sweet Jesus