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Oil Hits 2019 High

Apr 22, 2019

Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all…

Halliburton Reports Activity Uptick

Apr 22, 2019

Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier.Oilfield services providers…

BP Invests $6 Bln in Offshore Azerbaijan Project

Apr 22, 2019

The British multinational oil and gas company BP and its partners will lead a $6 billion development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oil-field complex offshore Azerbaijan.The supermajor said that the Azeri Central East (ACE)…

Oman LNG Settles $2bln Loan in Advance

Apr 22, 2019

Oman Liquefied Natural Gas LLC has announced that it has successfully repaid its US$2 billion loan facility obligation ahead of schedule, saving interest costs.According to Oman News Agency, the move is part of the company’s ongoing efforts to reduce financial costs and support Oman’s credit rating…

LNG Prices Nosedive

Apr 21, 2019

A mild winter and growing surplus of supply have knocked the legs out from under Asian LNG, with spot prices plummeting more than 60% since last September, Rystad Energy, energy research and business intelligence company.Similarly, British front month prices (NBP) have dropped from $9…

Total to Invest in Novateks LNG Projects

Apr 19, 2019

The French oil giant Total intends to buy 10% shares of the transshipment points of liquefied natural gas in Murmansk and Kamchatka, which Novatek plans to build.Russian news agency TASS quoted the CEO of the French company Patrick Pouyanne…

Europe Invests $30bln in Wind in 2018

Apr 19, 2019

Europe invested a total of EUR27bn (USD 30.34bln) in new wind farms in 2018, allowing it finance a record amount of new wind energy capacity, according to European trade body WindEurope.Europe invested EUR 10.3 billion in new offshore wind farms with a combined capacity of 4…

Woodside Q1 Revenue Rises 4%

Apr 18, 2019

Australia's Woodside Petroleum Ltd on Thursday posted a 4 percent rise in first-quarter revenue on higher realized prices for its oil and gas.Revenue rose to $1.22 billion for the three-months ended March 31, compared to $1.17 billion a year ago…

Schlumberger Quarterly Profit Slides

Apr 18, 2019

Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.Schlumberger said net income fell to $421 million…

Mexico to Offer Pemex One Year Lifeline

Apr 14, 2019

Mexico will offer its ailing state oil company Pemex a lifeline for only one year by dipping into its budget stabilization fund, Finance Minister Carlos Urzua said on Friday, ruling out that the government will absorb the debt.With $106 billion in financial debt…

Chevron to Buy Anadarko for $33 Bln

Apr 12, 2019

Chevron Corp on Friday said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its bet on U.S. shale and LNG as U.S. energy production is shattering records.The deal makes Chevron the second-largest major by crude production…

Swiss, Brazil Try to Unravel Petrobras Affair

Apr 09, 2019

Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.Switzerland…

Oil Hits Five-month High

Apr 08, 2019

Oil prices rose to a five-month high on Monday, driven by expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela.International benchmark Brent futures rose 74 cents…

Trump, Saudi Arabia at Odds Over Oil Price

Apr 01, 2019

U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could become a source of volatility in 2019/2020.In keeping with his iconoclastic approach to governing…

GA Drilling Gets Fund, Signs Pact with MOL

Mar 29, 2019

High-tech deep-drilling company GA Drilling signed a EUR 4.2 million funding agreement with Lead Ventures and a service agreement with MOL Group.Lead Ventures, a Budapest based venture capital firm invested funds provided by MOL Group, and Hungarian Eximbank…

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