World oil demand will rise faster than expected next year, the International Energy Agency (IEA) said on Thursday, a sign that the outlook for near-term oil use remains robust despite this week's COP28 agreement to transition away from fossil fuels…
The International Energy Agency (IEA) said on Thursday the 'explosive growth' in Indian oil product consumption may be coming to an end.In a monthly report, the IEA projected that India's oil product demand growth would slow to 2.5% next year from 4…
Oil investors will usher in 2024 with gnawing concerns about oversupply, slowing economic growth and simmering Middle East tension that could spark price volatility.Benchmark Brent has averaged around $80 a barrel this year, after a volatile…
If there is anything that offshore ships, e.g. for the oil and gas industry have in common, it is the complexity. Think about an offshore support vessel, a platform supply vessel and a rig support vessel - all complex ships and often one offs…
Supermajor Shell reports it now has 100% working interest in the Kaikias field in the U.S. Gulf of Mexico after acquiring a 20% stake from Mitsui's MOEX North America.The field Kaikias, located in the prolific Mars-Ursa basin, approximately 130 miles from the Louisiana coast…
Singapore's Maritime and Port Authority (MPA) said on Thursday it was seeking proposals from companies to supply methanol as a marine bunker fuel at Singapore from 2025.The call emerged ahead of an expected uptick in methanol-powered ships,…
Filtration and flow control solutions company Mott Corporation announced a new eight-figure agreement with South Korean refiner S-OIL, an Aramco affiliate. Under the deal, Mott and its Korean partner DL E&C will provide filtration technology for S-OIL’s $7 billion Shaheen project in Ulsan…
BP cut over $40 million in remuneration from former CEO Bernard Looney after the British oil giant concluded he had knowingly misled the board over personal relationships with colleagues.BP's board dismissed Looney without notice effective Dec…
The Netherlands and South Korea have signed an agreement to cooperate on nuclear power, including a feasibility study by Korea Hydro for the construction of a new nuclear plant in the Netherlands, the two governments said on Wednesday.The Dutch…
South Korea will provide 38 trillion won ($29 billion) in financing to strengthen its battery industry over the next five years, as global competition to secure battery supply chains remains fierce, the government said on Wednesday.South Korean battery firms like LG Energy Solution…
Yinson Production officially named its latest addition to the fleet, FPSO Atlanta, during a naming ceremony held at Dubai Drydocks World on December 13, 2023.FPSO Atlanta has a production capacity of 50,000 BOPD and a maximum storage capacity of 1…
Japan's industry and land ministries on Wednesday picked three consortia, including one featuring Germany's RWE and its partners, to operate offshore wind farms in the second round of a public auction. They said they would award a fourth wind farm that was part of the tender at a later date…
L10CCS, one of the large stores to be connected to the Aramis CO₂ transport and storage initiative in the Dutch part of the North Sea, has entered the next phase in the project, Front End Engineering Design (FEED).Neptune Energy and its partners EBN…
Major global lenders should refuse to finance a liquefied natural gas (LNG) project in Papua New Guinea to help keep global warming in check, civil society groups said on Wednesday, as some owners tap banks ahead of a final greenlight next year…
As the price of gas continues to seemingly hold steady at around three dollars a gallon, the pocketbooks of Americans continue to suffer. Regretfully, due to global conflict and the outbreak of wars across Europe and the Middle East, oil prices are continuing to climb upwards…
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