The Trump administration is considering sanctioning a Venezuelan military-run oil services company and restricting insurance coverage for Venezuelan oil shipments to ratchet up pressure on socialist President Nicolas Maduro, a U.S. official said…
Exxon Mobil Corp will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon…
Russia's Gazprom refuses to restart supplies to Ukraine; Ukraine's Naftogaz demands compensation. Kiev and Moscow plunged into a new gas dispute on Thursday after Ukraine's Naftogaz demanded compensation for Gazprom's unexpected decision not to restart gas supplies…
Venezuelan PDVSA's refineries will operate at 43 percent of their total capacity in March due to a lack of spare parts, light crude and feedstock, according to an internal document from the state-run firm seen by Reuters on Wednesday. The company's domestic refining network…
A fire has erupted at the facility used by U.S. oil services company Schlumberger at Angola's oil logistics hub in the capital Luanda, the chairman of state-run oil company Sonangol told a news briefing on Wednesday. Schlumberger, the world’s largest oilfield services…
Soaring U.S. crude production also weighs on market. Oil prices struggled to stay in positive territory on Wednesday after data showed industrial activity in some of the world's major crude-consuming nations has softened. May Brent crude futures were virtually unchanged at $66…
Algerian Energy Minister Mustapha Guitouni said on Tuesday that oil producers are seeking market stability and would meet in Riyadh in April to discuss ongoing efforts to curb output to support prices. 'We seek stability. The question is…
Proforma Safety International announced its partnership with Guyanese agency, LOMAK Energy Services Inc., to support the oil and gas sector with consulting services. Leveraging Proforma’s core competencies and expertise with LOMAK’s knowledge of the local environment…
Shipping tycoon John Fredriksen has reached an agreement with a majority of creditors over a restructuring plan for oil rig firm Seadrill, according to U.S. court documents on Monday. The company, once the world's largest offshore driller by market value…
Total Lubmarine has announced the introduction of a new grease product: BIO OG PLUS – an innovative addition to an already comprehensive Environmentally Acceptable Lubricant (EAL) range. Specifically formulated for sensitive applications such as open gears and chains under high load…
Sembcorp Energy India, an independent power producer, filed draft papers with capital markets regulator Sebi to float an initial public offering (IPO). The company, which has thermal and renewable power assets in India, is promoted by the Singapore Exchange-listed Sembcorp Industries…
The Yomiuri newspaper reported on Tuesday that: -Japan's government will submit legislation early next month to boost the use of offshore wind power -Bill to allow operators to use sites for 30 years, from 3-5 years now…
BHP Billiton Ltd and ExxonMobil Corp's Esso Australia said on Friday they have dropped a sale process started 20 months ago for some of Australia's oldest and largest oilfields. 'BHP and Esso have reached a decision to not progress with…
Jan Arve Haugan resigns as President & CEO of Kvaerner, and from March 1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner…
Vitol executive committee member Chris Bake said 2018 oil demand is looking 'fairly strong.' 'OPEC remains disciplined and the consequences are visible in track down in inventories...Half a billion barrels of oil has been drawn down in a short period of time…
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