The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050…
Suncor Energy Inc said on Wednesday its chief executive will retire mid-next year, with the company's chief operating officer taking over the top job at that time.Steve Williams, who has been with the company for 16 years and CEO since 2012…
SBM Offshore, the Netherlands-based maker of floating oil and gas production facilities, on Thursday said it expected $45 million in impairments in Brazil and the United States.In Brazil, SBM Offshore has decided to temporarily close the Brasa…
Norway's Equinor has bought a 9.7 percent stake in renewable energy producer Scatec Solar, raising its ownership to 10 percent, the state-controlled energy firm said on Thursday.'The investment in Scatec Solar will increase Equinor’s exposure to a fast growing renewable sector…
Tullow Oil forecast its net debt would drop to $2.8 billion by the end of the year and slightly raised its full-year free cash flow to $700 million, helped by trimming its capital expenditure.The company had previously said it might reach free cash flow of about $650 million…
On Saturday, nearly two decades after securing the initial rights, Total's CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It's not clear when he, or his peers, will be cracking open the bubbly in Angola again…
Finland could in future receive gas from Norway via a network of pipes being planned through the Baltic countries and Poland, as part of an effort to reduce its dependency on gas imports from Russia.Helsinki and Tallinn are constructing a gas pipeline under the Gulf of Finland to Estonia…
U.S. crude stocks rose last week as imports climbed, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Thursday.Crude inventories rose by 10.3 million barrels in the last week, compared with analysts' expectations for an increase of 3…
Russian President Vladimir Putin said on Thursday he had discussed the world oil market with U.S. President Donald Trump when both men were in Paris to mark the anniversary of the end of World War One.Putin, speaking to reporters on the sidelines of a regional conference in Singapore…
Oil rose on Thursday, steadying after losing nearly 7 percent over the previous three days, though concern about the prospect of an oversupplied market next year continued to weigh on prices despite OPEC's message that it may cut crude output…
China's Sinopec Corp said on Thursday it had started to operate the first phase of the Erdos-Anping-Cangzhou pipeline project in northern China, ahead of an expected operational date of early 2019.The pipeline, which connects gas production in the Erdos basin and users in Hebei province…
When U.S. President Donald Trump asked Saudi Arabia this summer to raise oil production to compensate for lower crude exports from Iran, Riyadh swiftly told Washington it would do so.But Saudi Arabia did not receive advance warning when Trump…
Aker BP said it will become the first oil company in Norway to control operations of a permanently manned offshore platform from land from next year.Operating platforms remotely can be done with fewer staff than doing it offshore and other oil…
The Abu Dhabi National Oil Company (ADNOC), has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners, Mitsui, BP and Total.The the state-owned oil company of…
Russian maritime shipping company Sovcomflot has signed a new USD 149 million credit facility, for up to 10 years, with a consortium of three leading international banks, comprising: ING Bank, KfW IPEX-Bank GmbH, and Crédit Agricole Corporate and Investment Bank…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week