EIA expects Brent prices will average $71 per barrel in 2018 before declining to $68 per barrel in 2019.In the June 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Brent crude…
Italy's Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a trial on alleged corruption in Nigeria, which also sees Eni's chief on the bench, legal sources said on Wednesday.The long-running graft case revolves…
Oil prices slipped on Wednesday, hit by rising supplies in the United States and expectations that producers could relax voluntary output cuts.Brent crude was down 20 cents at $75.68 a barrel by 1330 GMT. U.S. light crude was 35 cents lower at $66…
Oil production in Uganda is likely to start in 2021 at the earliest, China's CNOOC said, giving a later date than the government's 2020 target.CNOOC, which is developing the fields in the west of the country with Britain's Tullow Oil and France’s Total…
Siemens AG is considering strategic options including a potential sale of its struggling business that makes large gas turbines for power plants, Bloomberg https://bloom.bg/2LOJJuf reported on Wednesday citing people familiar with the matter…
Royal Dutch Shell has introduced gas to its 490 meter (1,600 ft) long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on Wednesday.Gas was fed to the unit from liquefied natural gas (LNG) carrier Gallina…
Maritime Developments (MDL) has won a flex lay project with Bibby Offshore just after completing an umbilical installation with the EPIC contractor.The recently concluded project in a North Sea gas field used the MDL RDS-400, a 400-mertic-ton reel drive system…
Bigger, better batteries are speeding up change in the U.S. electricity sector and could help power a rally in Xcel Energy Inc, American Electric Power Co Inc and other utility and renewable energy stocks, Barron's reported.After a decade of steep cost declines…
A gas pipeline exploded late on Sunday in China's southwestern province of Guizhou, seriously injuring nine people, official news agency Xinhua reported on Monday.The blast occurred on a pipeline owned by PetroChina at Jiangbaying, near Shazi in Guizhou province…
Oil prices fell on Friday as weakening demand in China and surging U.S. output weighed on markets despite supply woes in Venezuela and Iran on top of OPEC's production cuts.Brent crude futures fell 45 cents to $16.87 a barrel by 1333 GMT. U…
Britain's Sound Energy has signed a heads of terms agreement with a consortium to build a 20 inch gas pipeline and a processing plant to commercialize its discoveries in Eastern Morocco, it said.The consortium comprising Spain's Enagas, Elecnor…
Russian petrochemical company Sibur said its plans to build a gas chemical complex in Russia's Far East will require preliminary investments of up to $8 billion and it is still looking for Asian partners.Sibur said a year ago that it had been…
Coal prices in Asia are being driven to multi-year highs by a rare combination of simultaneous demand growth in the region's top four importers.Depending on the price used, thermal coal is either close to a two-year high or near the strongest in six years as China…
Venezuela has released two local executives of U.S. oil major Chevron Corp jailed since mid-April during a corruption probe in the oil sector, authorities and the company said on Wednesday. The arrests of Carlos Algarra and Rene Vasquez…
Introduction of GTC contracts could spur trading, cut costs; traders say existing system inefficient and tedious. A new umbrella contract meant to streamline trading of liquefied natural gas (LNG), bogged down in red tape and wrangling over terms…
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