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New Gas Dispute Between Ukraine and Russia Begins

Mar 01, 2018

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…

PDVSA Refineries to Run at 43 pct Capacity in March

Feb 28, 2018

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…

Fire Erupts at Schlumberger Facility in Angola

Feb 28, 2018

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…

Oil Struggles to Escape China Demand Concerns

Feb 28, 2018

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…

Algeria Energy Minister Says Oil Producers Seek Market Stability

Feb 27, 2018

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 Partners with LOMAK Energy

Feb 26, 2018

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…

Seadrill, Creditors Reach Joint Restructuring Deal

Feb 26, 2018

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 debuts Environmentally Lubricant

Feb 24, 2018

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 Industries' Energy Arm Files IPO Papers

Feb 24, 2018

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…

Japan Seeks to Boost Offshore Wind Power

Feb 23, 2018

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, ExxonMobil to Retain Aussie Oil & Gas Assets

Feb 23, 2018

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…

CEO Haugan Leaves Kvaerner to Lead Aker Energy

Feb 23, 2018

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's Bake Sees 'Strong' 2018 Oil Demand

Feb 22, 2018

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…

Oil Falls as Stronger Dollar Eclipses U.S. Inventory Drop

Feb 22, 2018

Stronger dollar makes oil costlier for some buyers; API report showed lower U.S. crude inventories. Oil prices fell on Thursday, dragged lower by a firmer dollar that offset support from a surprise decline in U.S. crude inventories. Brent crude futures were down 11 cents at $65…

Fugro Returns to China for Gas Hydrate Research

Feb 21, 2018

Dutch survey and geotechnical services firm Fugro said it has been awarded a contract by China’s Guangzhou Marine Geological Survey (GMGS) to perform gas hydrate investigation on the Northern Continental Slope of the South China Sea. The…

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