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Asian Energy News - page 129

 

Aramco IPO Venue up for Grabs

Mar 06, 2018

Saudi Crown Prince Mohammed bin Salman's upcoming trip to Britain and the United States could shape the decision on where to list oil giant Aramco, at a time when sources say the chances of London and New York hosting the IPO appear to be receding…

U.S. Crude Exports to Asia Slump as WTI Outperforms

Mar 06, 2018

Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades and efforts by other suppliers to maintain competitiveness. Vessel-tracking and port data suggest Asian imports of U…

Oil Rises as Korea Talks Boost Confidence

Mar 06, 2018

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…

Oil Falls as U.S. Shale Growth Gathers Pace

Mar 05, 2018

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…

How Shell Hid a Whale Before Placing Mexican Oil Bet

Mar 02, 2018

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…

Philippines, China Mull South China Sea Energy Cooperation

Mar 02, 2018

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, McDermott Complete Contract off India

Mar 02, 2018

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…

Tunisia to invest $5B in Dnergy Projects

Mar 01, 2018

Tunisia will invest 12 billion dinars ($5 billion) in electricity and other energy projects from 2018 to 2020, a government statement said on Thursday.The government also said it was planning a new airport close to the capital.The energy…

U.S. Considers Venezuela Oil Sanctions

Mar 01, 2018

The Trump administration is considering sanctioning a Venezuelan military-run oil services company and restricting insurance coverage for Venezuelan oil shipments to ratchet up pressure on socialist President Nicolas Maduro, a U.S. official said…

Exxon Quits Some Rosneft Joint Ventures Citing Sanctions

Mar 01, 2018

Exxon Mobil Corp will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon…

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…

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…

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