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Saudi Energy Minister: Kingdom on Way to Restoring Market Stability

May 07, 2018

Saudi Arabian Energy Minister Khalid al-Falih tells Japan's trade minister Hiroshige Seko that he is concerned about low investment levels and potential oil shortages in the future. 'We believe we are on our way to restoring energy stability to the market…

Iran: New Sanctions Won't Stop its Oil Industry

May 07, 2018

The Iranian oil industry will continue to develop even if the United States pulls out of the 2015 Iran nuclear deal, and Tehran would see the accord as operational as long as it can sell oil, the Oil Ministry website quoted senior officials as saying on Monday…

Vivo Energy IPO Launches with 2 bln Pound Valuation

May 04, 2018

Largest Africa-focused IPO since 2005; Vivo to join FTSE 250 index. Vivo Energy PLC launched on the London Stock Exchange on Friday with a valuation of nearly 2 billion pounds ($2.7 billion), the largest London IPO so far this year and the largest Africa-focused IPO in more than a decade…

Libya's NOC Withholding Total's Share of Waha Crude

May 03, 2018

Libya's National Oil Corp (NOC) is withholding Total's share of crude from the Waha concession as a dispute drags on over the French oil major's purchase of Marathon's stake in the concession two months ago, Libyan oil and industry sources said…

BSEE Regs Update to Cut Burden on Operators

Apr 28, 2018

The Bureau of Safety and Environmental Enforcement (BSEE) – incorporating industry innovation, best science, and best practices – is proposing to update regulations covering offshore oil and gas drilling operations to improve reliability, safety…

Petrobras Seeks Partnerships

Apr 28, 2018

Petrobras informs that it has started the disclosure stage of two divestment opportunities (Teasers) related to the sale of its interest in refining and logistics in Northeast and South regions of Brazil. Petrobras intends to sell 60% of its equity interest in each of these new companies…

Singapore to Require Flow Meters for Bunker Transfers

Apr 26, 2018

Singapore's Maritime Port Authority (MPA) is set to announce it is making use of mass-flow-meters (MFM) mandatory onboard marine gasoil barges used to refuel large ships, two people with knowledge of the matter said. The announcement will…

Oil Falls After Trump Criticizes OPEC

Apr 20, 2018

Russia committed to cuts until end of year as 2018 demand looks strong (Goldman Sachs). Oil prices fell on Friday after U.S. President Donald Trump criticised OPEC and said oil prices were artificially high, but they were still set for a weekly gain…

Noble Amends Restructuring Plan, Scrambles for Shareholder Support

Apr 19, 2018

Noble's action on shareholders was criticised by SGX; Noble needs shareholders to support its restructuring. Bowing to criticism from the Singapore Exchange (SGX) and other investors, embattled Noble Group is removing a provision in its $3…

To Frack or Not to Frack? Australia's NatGas Dilemma

Apr 19, 2018

The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines. The…

Eni has no plans to pull out of Rosneft deal after sanctions

Apr 18, 2018

Italian oil major Eni has no plans to pull out of its joint venture with Russia's Rosneft despite escalating sanctions against Russia, the head of Eni said on Wednesday.'We certainly have not pulled out, we're working with them,' CEO Claudio Descalzi said on the sidelines of a conference…

India, UK Govts Invest $711 mln in Indian Renewable Energy Fund

Apr 18, 2018

Lightsource BP and Indian private equity fund Everstone Group announced on Wednesday the creation of a 500 million pound ($711 million) fund to invest in renewable energy and clean technology in India.The fund, named Green Growth Equity Fund (GGEF)…

China's Coal Import Restrictions may Pressure Pricing

Apr 17, 2018

The price of seaborne thermal coal in Asia may come under pressure as China moves to impose some import restrictions on imports of the polluting fuel. Several ports in southern and eastern China have introduced controls on coal imports,…

Britain: Biofuel Targets Will Reduce Diesel Reliance

Apr 13, 2018

British biofuel targets coming into force this weekend will double the use of renewable fuels in the UK transport sector in 15 years and reduce reliance on imported diesel, the government said on Friday. The new targets, which take effect on April 15…

Russia Ready to Consider Gas Supplies via Ukraine After 2020

Apr 11, 2018

Russian Energy Minister Alexander Novak told European Commission Vice President Maros Sefcovic that Russia was ready to consider using Ukraine as a gas transit route after 2020, the energy ministry said on Wednesday.German Chancellor Angela…

Current News

China’s CNOOC Hits ‘High Yield’ Well in in Beibu Gulf

China’s CNOOC Hits ‘High Yield’ Well in in Beibu Gulf

South Korea's KOMIPO Cancels Plans for LNG Import Terminal

South Korea's KOMIPO Cancels Plans for LNG Import Terminal

ExxonMobil to Transfer Operations of Two Malaysian PSC Assets to Petronas

ExxonMobil to Transfer Operations of Two Malaysian PSC Assets to Petronas

Chinese Wind Turbine-makers Move into Europe as Trade Tensions Flare

Chinese Wind Turbine-makers Move into Europe as Trade Tensions Flare

ExxonMobil Selling Malaysia Oil and Gas Assets to Petronas

ExxonMobil Selling Malaysia Oil and Gas Assets to Petronas

FPSO Bacalhau Becomes World’s First Newbuild with DNV Emissions Abatement Notation

FPSO Bacalhau Becomes World’s First Newbuild with DNV Emissions Abatement Notation

South Korea's SK Innovation Agrees Merger with SK E&S as Part of Overhaul

South Korea's SK Innovation Agrees Merger with SK E&S as Part of Overhaul

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