The independent Norwegian oil company, Noreco stated that its Board and Cecilie O. Lindseth, the Managing Director, have agreed not to renew her employment contract. According to the contract her last day as Managing Director of Norwegian Energy Company ASA will be 31 March 2018…
Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department had offered up a record 77 million acres (31…
China will prudently advance cooperation with the Philippines on joint oil and gas exploration in the South China Sea, China's top diplomat State Councillor Wang Yi said on Wednesday after meeting his Philippine counterpart.Any potential deals…
Oil neared its highest in six weeks on Wednesday after a surprise decline in U.S. inventories and as concern persisted over possible disruption to Middle East supply.Unexpectedly large inventory declines in the United States helped underpin the market…
Nearly two years ago GustoMSC introduced a smart crane for lifting and wireline operations under the drilling cantilever. Two years later, following industry feedback and further development, the equipment has evolved into Chela, named after the Greek word for a crab’s claw…
U.S. engineering and construction company McDermott International plans to bid for $5 billion in contracts in the next few months in Asia Pacific as the region's offshore oil and gas sector recovers, company executives said on Tuesday. The…
Total's renewable energy unit said on Monday it had opened the world's largest solar-thermal hybrid plant in Burkina Faso, the first of what it hopes will be many projects supplying the African mining industry's growing need for power.Total…
ExxonMobil Corp has bought a liquefied natural gas (LNG) cargo to keep its Papua New Guinea plant cold after a powerful earthquake triggered a production halt last month, several trade sources said on Monday. The cool-down cargo could be…
The market narrative consuming crude oil markets currently is the interplay between supply cuts by OPEC and its allies and rising U.S. shale output, with a side helping of Chinese imports driving demand. While there are solid reasons for industry participants to focus on these dynamics…
Italian oil and gas group Eni raised its dividend on Friday and held out the promise of a share buyback as it ramped up production and cash flow targets. In its 2018-2021 plan, the major said it would pay a dividend this year of 0.83 euros per share compared to 0…
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…
U.S. federal energy regulators gave themselves more time to decide whether to rehear their earlier order upholding New York's denial of a water permit for Williams Cos Inc's Constitution natural gas pipeline from Pennsylvania to New York. The…
The tug-of-war between fundamentals and sentiment appears to be getting stronger for many commodities as the market tries to reconcile factors such as robust demand numbers from China and increasingly worrying rhetoric and actions from the United States…
Iran and Russia signed a deal on Wednesday to develop two oilfields in Iran, according to Iranian state TV.The National Iranian Oil Company signed a deal with Russia’s Zarubezhneft to develop the fields, according to SHANA, the news site of the Iranian oil ministry…
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