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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…

Sembcorp Industries' Energy Arm Files IPO Papers

Feb 24, 2018

Sembcorp Energy India, an independent power producer, filed draft papers with capital markets regulator Sebi to float an initial public offering (IPO). The company, which has thermal and renewable power assets in India, is promoted by the Singapore Exchange-listed Sembcorp Industries…

BHP, ExxonMobil to Retain Aussie Oil & Gas Assets

Feb 23, 2018

BHP Billiton Ltd and ExxonMobil Corp's Esso Australia said on Friday they have dropped a sale process started 20 months ago for some of Australia's oldest and largest oilfields. 'BHP and Esso have reached a decision to not progress with…

Vitol's Bake Sees 'Strong' 2018 Oil Demand

Feb 22, 2018

Vitol executive committee member Chris Bake said 2018 oil demand is looking 'fairly strong.' 'OPEC remains disciplined and the consequences are visible in track down in inventories...Half a billion barrels of oil has been drawn down in a short period of time…

Oil Falls as Stronger Dollar Eclipses U.S. Inventory Drop

Feb 22, 2018

Stronger dollar makes oil costlier for some buyers; API report showed lower U.S. crude inventories. Oil prices fell on Thursday, dragged lower by a firmer dollar that offset support from a surprise decline in U.S. crude inventories. Brent crude futures were down 11 cents at $65…

Petrobras' January Output Slips on Maintenance, Sale

Feb 21, 2018

Petroleo Brasileiro S.A. produced 2.1 million barrels of oil per day (bpd) in January, 1 percent below December's levels, due to maintenance and an asset sale, Brazil's state-run oil company said on Wednesday. Petrobras, as the company is known…

One year On, OPEC Closer to Target Production Cuts

Feb 20, 2018

OPEC is closing in on its goal of reducing oil inventories held by industrialised nations to their five-year average, the original target of a supply-cutting pact with Russia and others, figures from the group's head of research showed on Tuesday…

Harsher Sanctions Needed Against Venezuela -OAS chief

Feb 20, 2018

OAS boss Almagro says regime 'has become more tyrannical.' U.S. weighs tougher sanctions after Tillerson tour. Sanctions should be stepped up against Venezuela's leaders and oil sector in response to the country's repressive political climate…

TransCanada Seeks Okay for LA Cameron Access

Feb 16, 2018

TransCanada Corp's Columbia Gulf Transmission unit on Friday filed with U.S. federal energy regulators to commence service on its Cameron Access natural gas project in Louisiana on March 1. The $300 million Cameron Access projects includes…

India's Oil Imports Reach Record High in January

Feb 15, 2018

India imported a record 4.93 million barrels of oil per day (bpd) in January to feed its expanded refining capacity and meet rising demand, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed…

LyondellBasell's Plastics Business to Double with Schulman Deal

Feb 15, 2018

Petrochemicals company LyondellBasell Industries NV will buy plastic composites maker A. Schulman Inc for $1.24 billion, doubling the size of its plastics business. LyondellBasell will pay $42 per share, an 8.7 percent premium to Schulman's Wednesday close…

China's Crude Futures Face Challenges: Russell

Feb 15, 2018

China's new crude futures contract faces a mountain of obstacles to overcome if it is to establish itself as a viable benchmark for trading with the world's largest oil importer. The Shanghai International Energy Exchange (INE), which is part of the Shanghai Futures Exchange…

Colonial Allocates Cycle 12 Shipments on Distillate Line 20

Feb 15, 2018

Colonial Pipeline Co is allocating space for Cycle 12 shipments on Line 20, which carries distillates from Atlanta to Nashville, Tennessee, according to a notice sent to shippers on Thursday. Committed information will be available on Friday…

US Oil Stocks Rise, Refining Rates Cut - EIA

Feb 14, 2018

U.S. crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 1.8 million barrels in the week to Feb…

Asia's Soaring Gas Demand Beckons New LNG Projects

Feb 14, 2018

Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity…

Current News

Seafox Pushes to Oust GMS Directors

Seafox Pushes to Oust GMS Directors

Mermaid, Meitech JV to Target Decom Projects in Gulf of Thailand

Mermaid, Meitech JV to Target Decom Projects in Gulf of Thailand

BHP in Talks with for LNG Bunker Supply Contract

BHP in Talks with for LNG Bunker Supply Contract

CNOOC Brings Online South China Sea Oil Project

CNOOC Brings Online South China Sea Oil Project

Petronas Pays $700M in Tax to Sarawak State after Dispute Settlement

Petronas Pays $700M in Tax to Sarawak State after Dispute Settlement

Inpex, Chevron Cutting Jobs in Australia

Inpex, Chevron Cutting Jobs in Australia

GC Rieber's Ice-Breaker to Stay in Sakhalin with Exxon for Three More Years

GC Rieber's Ice-Breaker to Stay in Sakhalin with Exxon for Three More Years

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