General Electric Co Chief Executive Officer John Flannery abruptly stepped down on Monday just over a year after taking the role, and the company announced a $23 billion charge related to its struggling power business.Flannery's departure calls…
Production of hard-to-recover oil in Russia is expected to rise by 10 percent to 43 million tonnes (860,000 barrels per day) this year, boosted by tax incentives, Russian Deputy Energy Minister Pavel Sorokin said in an interview.He also said…
ABB has won an order of more than $20 million from MHI Vestas Offshore Wind to supply reliable, energy-efficient and compact WindSTAR transformers, which are designed for installation in wind turbines.Borssele III and IV comprise the second phase of the Borssele wind farm…
Russia's Sakhalin-1 consortium, led by ExxonMobil, has agreeed to pay $230 million to Russian energy giant Rosneft as part of an out-of-court settlement, the managing director of consortium partner ONGC Videsh told Reuters on Friday.The deal…
Energy exports from Norway to Britain will not be affected even if Britain leaves the European Union without a deal, Norway's energy ministry said on Friday.'Energy trade is governed by bilateral commercial agreements. We hence expect that energy exports from Norway to Britain will not be affected…
Petrogal, the Brazilian unit of Portugal's Galp, plans to spend $800 million to $1 billion annually in the coming years in Brazil to develop its current oil and gas assets and boost its stake offshore, its chief executive officer said on Thursday…
Oil prices rose on Friday as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production.Global crude oil benchmark Brent was up 60 cents at $82.32 a barrel by 1340 GMT. The contract hit a four-year high of $82…
A consortium made up of Royal Dutch Shell and Chevron Corp won the Saturno block in the Santos basin in Brazil's pre-salt offshore oil auction on Friday, outbidding a rival group led by Exxon Mobil Corp.Shell's consortium won by pledging 70…
Norway's Equinor is interested in buying Chevron's stake in Rosebank, an oil and gas field in the British part of the North Sea, two sources close to the process told Reuters.Chevron on Wednesday said that it had received interest from a potential…
International marine fuel logistics company Aegean Marine Petroleum Network (AMPNI) announced that President Jonathan McIlroy will leave the Company, effective November 15, 2018.The marine fuel and lubricants supplier announced last month the…
The law firm HFW has helped shipping association BIMCO draft its first clause relating to the International Maritime Organization's 2020 sulphur emission rules.The Global, sector-focused law firm said that the new clause, focused on compliance…
DNV GL has successfully completed a lenders’ technical due diligence on Ørsted’s Hornsea Project One, the world’s largest offshore wind farm with a total capacity of 1.2 GW.The project, which is currently under construction, consists of 174…
Exxon Mobil Corp will focus on drilling and production in Brazil now that it has made extensive acquisitions of oil blocks in the country, the company's chief executive officer in Brazil, Carla Lacerda, said on Thursday.Exxon also sees new opportunities in Brazil's biofuels…
Croatia has again extended a deadline for submitting binding bids for the use of a planned floating liquefied natural gas (LNG) terminal in the northern Adriatic.'The deadline has been moved from Sept. 28 to Dec. 20 this year,' state-owned LNG Croatia said in a statement on its website on Thursday…
Exxon Mobil Corp will focus on drilling and production in Brazil now that it has acquired lots of oil blocks in the country, the company's chief executive officer in Brazil, Carla Lacerda, said on Thursday.Exxon also sees new opportunities in Brazil's biofuels…
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