The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050However, new oil fields will be needed until at least the 2040s…
State-controlled oil company Petroleo Brasileiro said on Wednesday it had started production on its eighth platform in the offshore Lula field, Brazil's most productive, as it ramps up output from the Santos basin in the coveted pre-salt oil play…
The U.S. Department of the Interior on Wednesday gave conditional approval to privately-held Hilcorp's long-awaited oil and gas production facility in federal waters off Alaska.Hilcorp is seeking to build a nine-acre artificial gravel island in shallow waters of the Beaufort Sea…
Saudi assurance on oil supplies, economic worries weigh as two China state refiners to skip Iran oil bookings for November. Oil prices jumped on Wednesday, rebounding after several days of weakness as a much bigger-than-expected drawdown in U…
Russian Energy Minister Alexander Novak said on Wednesday he was not aware of any decision by Italy's ENI to suspend its involvement in any Rosneft projects.Earlier on Wednesday, Interfax news agency reported that the two oil majors were discussing…
U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 6.3 million barrels in the week to Oct. 19, compared with analyst expectations for an increase of 3…
The Russian government may introduce licenses for fuel exports to tackle possible shortages on the domestic market and cool down prices, a source familiar with a meeting between the government and oil producers said on Wednesday.Earlier in the day…
Canadian energy company Enbridge Inc on Wednesday sought permission from U.S. energy regulators to put the remaining part of its Texas Eastern Appalachian Lease (TEAL) Phase 1 natural gas pipeline in Ohio into service.In a filing with the U…
Oil rose towards $77 a barrel on Wednesday after hitting a two-month low as the focus returned to looming U.S. sanctions on oil exporter Iran, although concern about a weaker demand outlook weighed.In a sign Iranian exports will drop further once the sanctions take effect on Nov…
Peel Ports and offshore services firm ASCO have joined forces in a long-term strategic partnership aimed at supporting the energy sector in Great Yarmouth and promoting future sustainability for the port.By working in collaboration, the two…
Blackstone Energy Partners announced today that it has entered into binding agreements to acquire a controlling, majority interest in Ulterra Drilling Technologies from affiliates of American Securities LLC. American Securities and certain…
The evolution of the global natural gas market, which has been driven by the growth in liquefied natural gas (LNG) demand, continues to change the relationship between buyers and sellers, and raises new challenges for the global security of energy supplies…
Apex International Energy announced that affiliates of Blue Water Energy (BWE) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.The oil and gas…
Petrofac, the international oil and gas services provider, leading a consortium with Saipem and Samsung Engineering, has received an award notification for Thai Oil Public Company Limited’s (Thai Oil) Clean Fuels Project on the East coast of Thailand…
Venture Global LNG announced that the U.S. Federal Energy Regulatory Commission (FERC) has issued the final Environmental Impact Statement (EIS) for the company’s 10 MTPA Calcasieu Pass facility on the Gulf of Mexico.On August 31, 2018, FERC…
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