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What Saudi Arabia Does Now is Key for Global Crude Markets: Russell

Jun 25, 2018

If it were possible to boil the crude oil market down to just one determining factor for the coming months, it would be this: What will Saudi Arabia actually do? The Saudis appear to have emerged as the winners from last week's meeting of…

Saudi Aramco: 2 mln bpd of Spare Capacity Exists

Jun 25, 2018

Saudis can produce up to 12 mln bpd if needed; can meet additional demand if any supply disruptions - Aramco CEO Oil giant Saudi Aramco has spare capacity of 2 million barrels per day (bpd) and can meet additional oil demand in case of any interruption in supplies…

LNG to Benefit Philippines, Says ADB Energy Expert

Jun 21, 2018

The Philippines stands to benefit from introducing liquefied natural gas (LNG) to support power generation and making it part of its energy mix, the government's Philippine News Agency reported quoting  an energy sector expert for the Asian Development Bank (ADB)…

Lukoil, Eni Discussing Possible Swap of Mexico Licences

Jun 21, 2018

Lukoil, Russia's second biggest oil producer, is considering swapping licences with Italy's Eni in Mexico, First Deputy Chief Executive Ravil Maganov said on Thursday.In March, Eni and Lukoil won offshore exploration and production licences in the Cuenca Salina basin in Mexico…

China to Cut US Oil Imports Amid Trade Spat

Jun 21, 2018

Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said…

Shell Sells $1.3 Billion of Oil and Gas Assets

Jun 20, 2018

Royal Dutch Shell announced the sale on Wednesday of oil and gas assets in Norway and Malaysia for over $1.3 billion, bringing it closer to a target of $30 billion in disposals by year-end.The Anglo-Dutch company agreed to sell to OKEA, a Norwegian…

DNV GL, EU to Promote Offshore Wind Market in Indian

Jun 19, 2018

DNV GL, the world’s largest resource of independent energy experts and certification body, is today showcasing the final reports in a study which demonstrates the commercial and technical feasibility of the offshore wind market In India.  Co-funded by the European Union (EU)…

Trafigura Signs Second Storage Deal with Singapore LNG Corp

Jun 19, 2018

Commodities trader Trafigura has signed a second deal with Singapore LNG Corp, operator of the city-state's first liquefied natural gas (LNG) terminal, for storage and reload services, the two companies said on Monday.Under the agreement, which was signed on May 30…

ExxonMobil Considers Importing LNG to Australia

Jun 18, 2018

ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.The move would compete with plans by both Australia's no…

China's Tariffs on US Oil Would Disrupt $1 Bln Monthly Business

Jun 18, 2018

China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.In an escalating spat over the United States' trade deficit with most of its major trading partners…

Equinor Awards $3.7 Billion Service Deals

Jun 18, 2018

Norwegian oil and gas firm Equinor has awarded drilling and well service contracts worth 30 billion Norwegian crowns ($3.68 billion) to Schlumberger, Halliburton and Baker Hughes, it said on Monday.The contracts cover integrated well services…

China Ramping Up Renewable Power

Jun 15, 2018

China will ramp up electricity generated by renewable energy this summer and give priority to residential use as some regions are due to experience power shortages, a spokesman for the nation's central policy planner said at a news briefing…

EIA: Oil Barrel Price Steady Around $70

Jun 14, 2018

EIA expects Brent prices will average $71 per barrel in 2018 before declining to $68 per barrel in 2019.In the June 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Brent crude…

Batteries hasten winds of change for electricity stocks

Jun 11, 2018

Bigger, better batteries are speeding up change in the U.S. electricity sector and could help power a rally in Xcel Energy Inc, American Electric Power Co Inc and other utility and renewable energy stocks, Barron's reported.After a decade of steep cost declines…

Nine People Injured in China Gas Pipeline Blast

Jun 11, 2018

A gas pipeline exploded late on Sunday in China's southwestern province of Guizhou, seriously injuring nine people, official news agency Xinhua reported on Monday.The blast occurred on a pipeline owned by PetroChina at Jiangbaying, near Shazi in Guizhou province…

Current News

Argentina YPF to Shed Offshore Exploration Projects

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Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Shell Hires Noble’s Drillship for Work in Southeast Asia

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

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