Plastics and other petrochemical products will drive global oil demand to 2050, offsetting slower consumption of motor fuel, the International Energy Agency (IEA) said on Friday.Despite government efforts to cut pollution and carbon emissions from oil and gas…
Aker Solutions has been awarded a five-year agreement to supply brownfield modifications, maintenance and operations support for BP's Greater Plutonio and PSVM fields offshore Angola.The work scope covers the supply of engineering, procurement…
Major oil producers must take 'the right steps' to ease supply concerns that have lifted crude prices to a four year-high, the head of the International Energy Agency told Reuters on Thursday.'It is now high time for all the players, especially those key producers and oil exporters…
Oil production at Eni's Arctic Goliat field off the coast of Norway will restart by Friday following maintenance, the company told Reuters on Thursday.The restart had originally been planned for Oct. 1, but Eni extended the outage to carry out…
Anthony Veder and Bunker Connect have signed a bunker procurement and management contract for the Amsterdam-Rotterdam-Antwerp (ARA) set of ports.Upon successful implementation in the ARA area, Anthony Veder and Bunker Connect will look at further expanding their cooperation…
ExxonMobil said that all its International Maritime Organization (IMO) compliant 0.5% sulfur bunker fuels developed to date are residual grades.The oil giant has also announced specification details and confirmed that the formulations are all compatible with each other…
Oil company Petróleo Brasileiro SA, or Petrobras, said on Wednesday it finished a long-term test at the Mero field in the Libra pre-salt area with positive results.The Brazilian company said in a statement that the well used for the test in Mero reached an average production of 58…
There is considerable unease among global shippers/BCOs (Beneficial Cargo Owners) and freight forwarders ahead of the IMO’s 2020 global emissions regulations, due to come into force on 1 January 2020, according to a survey conducted by global shipping consultancy Drewry…
Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday…
U.S. President Donald Trump called Saudi Arabia's King Salman on Saturday and they discussed efforts being made to maintain supplies to ensure oil market stability and global economic growth, Saudi state news agency SPA reported.The call comes days after the U…
A unit of the National Iranian Oil Co. (NIOC) signed a deal with a local firm on Sunday to build a crude oil storage facility near Iran's southeastern port of Jask with an initial investment of 200 million euros ($232 million), the oil ministry news website SHANA reported…
Equinor has signed an agreement to acquire Chevron’s 40 percent operated interest in the Rosebank project, one of the largest undeveloped fields on the U.K. Continental Shelf (UKCS). The parties did not disclose the commercial terms of the agreement…
Norway's Equinor is interested in buying Chevron's stake in Rosebank, an oil and gas field in the British part of the North Sea, two sources close to the process told Reuters.Chevron on Wednesday said that it had received interest from a potential…
Malaysian oil and gas exploration and production company Hibiscus Petroleum is aiming to double its oil output in the United Kingdom and Malaysia to 20,000 barrels per day (bpd) by 2021, a senior company executive said on Thursday.It needs an…
Austria's OMV started production at Abu Dhabi's SARB and Umm Lulu's offshore oil fields, expecting to produce 25,800 barrels per day by year-end, it said on Thursday.The gas and oil group took a 20 percent interest in the two oilfields off the United Arab Emirates under a $1…
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