Texas-based Denbury Resources will acquire Houston-based upstream energy company focused on the Eagle Ford Shale Penn Virginia in a deal valued at $1.7 billion, including the assumption of debt.According to a press release, the deal is expected to close in the first quarter of 2019…
Fund managers cut bullish crude holdings to 15-month low.Oil prices fell on Monday, as concern over the global economy put crude on track for its biggest monthly fall since mid-2016.Brent crude oil futures were down 34 cents at $77.28 a barrel at 1005 GMT…
Serica Energy said that efforts to remove gas hydrates in pipeline between Erskine and the Lomond platform had been successful and it has resumed production for the first time since January.' Production from Erskine has restarted and flow rates are being optimised…
The Clean Arctic Alliance and indigenous groups welcomed the support given by member states to commence work on developing a ban on the use and carriage of heavy fuel oil in Arctic waters as the International Maritime Organization’s Marine Environment…
Baltic and International Maritime Council (BIMCO) has been a proponent for a carriage ban of non-compliant fuel (unless the ship has a scrubber) and is pleased to see it adopted with a start date of 1 March 2020, said a release from the international shipping association…
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Maritime Organization (IMO) on Friday (26 October), during the current session of the Marine Environment Protection Committee (MEPC 73)…
Argentina's state-controlled oil company, YPF, will significantly boost oil and gas production, investing between $4 billion and $5 billion per year through 2022, Chief Executive Daniel Gonzalez told Reuters on Friday.It plans to raise production by between 5 percent and 7 percent per year…
U.S. energy firms added oil rigs for a third week in a row for the first time since June, keeping the rig count at its highest in over three years, as declining productivity in some shale fields force companies to drill more to keep output growing…
Singapore Petroleum Company, a subsidiary of PetroChina International, said in a statement on Friday it completed a new oil products storage and distribution terminal on Jurong Island, an artificial island off Singapore's southwest coast.The…
The construction of the first onshore power supply plant for commer-cial vessels at the Norwegenkai Terminal in the port of Kiel has begun.Taking part in the official first-cut-of-the-spade-ceremony marking the start of the construction works…
Crude stockpiles rising at U.S. futures delivery point; Saudi Arabia says oil market could shift to oversupply in Q4.Oil prices rose 1 percent on Thursday, following the U.S. stock market higher a day after Wall Street's biggest drop since 2011…
New, deep-water production is underway today at the Lula Extreme South in the Brazilian Santos Basin. Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltda. (Shell) and consortium partners, announces that the FPSO P-69 is now producing…
Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027, said new research from global natural resources consultancy Wood Mackenzie. Future offshore wind prices will be competitive with traditional thermal prices, it said.Leading the charge is China…
Russia's energy major Rosneft and US ExxonMobil plan to build a liquefied natural gas (LNG) plant in a consortium with Indian and Japanese partners, spreading the estimated $15 billion cost, Reuters reported.The report said that the LNG production…
Australia's WorleyParsons has entered into a binding agreement to acquire US contractor Jacobs Engineering's Energy, Chemicals & Resources (ECR) division, a leading global technical services provider across Hydrocarbons, Chemicals and Mining & Minerals…
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