IEA sees 2018 global oil demand increasing by 1.5 mln bpd. Oil prices were set for a weekly drop despite a slight gain in both benchmarks on Friday, on concerns that rising global supply could undermine efforts by OPEC and other producers to tighten the market…
Rebranding would cost up to $32.5 mln but firm plans to ramp up renewables investment. Norway's Statoil plans to change its name to Equinor, reflecting its commitment to become a broad energy company rather than one focused only on oil…
Oil companies must explore for more offshore oil and gas reserves if Norway is to maintain energy production at its current level, state-owned oil firm Petoro said on Wednesday. Petoro holds stakes in several oil and gas firms off Norway…
The Trump administration's plan to broadly expand drilling in U.S. offshore waters is moving slowly due to opposition from coastal states and indifference from oil companies that have turned their focus to other opportunities. The administration hopes encouraging U…
Norwegian shipping firm Golar LNG on Monday said liquefied natural gas (LNG) production had started at its floating LNG production platform in Cameroon, the world's second working example of the nascent technology.The trading arm of Russia's Gazprom has purchased the entire 1…
MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil…
In an effort to address a recurring problem with faulty connectors in critical safety equipment, the Bureau of Safety and Environmental Enforcement (BSEE) commissioned a National Academy of Engineering study on the matter in September 2016…
A.P. Møller - Mærsk A/S [A.P. Moller - Maersk] has received all regulatory approvals and has today completed the sale of Mærsk Olie og Gas A/S [Maersk Oil] to Total S.A. [Total], which was announced on 21 August 2017. A.P. Moller - Maersk…
The latest Australian Bureau of Statistics (ABS) exploration data confirms that the slump in petroleum exploration in Australia continues. “Yesterday, the ABS released data for 2017, confirming that exploration in Australia is stalled. Exploration expenditure is well below trend…
Cheniere Energy and GAIL (India) today marked the commencement of their 20-year Sale and Purchase Agreement (SPA) to supply U.S.-sourced liquefied natural gas to India from Cheniere’s Sabine Pass liquefaction facility in Louisiana, with one of GAIL’s first shipments departing from the facility…
IEA sees strong global oil demand growth to 2023. Oil rose on Tuesday, paring earlier losses after South Korea said it would hold a summit with North Korea for the first time in more than a decade, which investors took as a cue to sell the U…
IEA sees U.S. gaining market share from OPEC, predicts robust oil demand in next 5 years. Oil prices edged lower towards $64 per barrel on Monday on predictions of a major spike in U.S. oil output in the next five years. International benchmark Brent crude was down 8 cents…
Announcement of Whale well discovery delayed until auction. The gasps in the audience were clearly audible at the auction of Mexico's oil blocks a month ago as Royal Dutch Shell's hefty bids were announced one by one. The size of Shell's…
The Philippines on Friday identified two areas in South China Sea where joint exploration for oil and gas may be undertaken with China, including one in territory that both sides have argued over for years. The two countries have agreed…
Maersk Supply Services said it has completed the first contract for one of its Stingray-Class newbuild subsea support vessel, Maersk Installer, with McDermott.Maersk Installer joined the project in January 2018, supporting the Vashishta development off the East Coast of India…
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