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Egypt Signs MOU with China's GLC for $2 bln Solar Panel Factory

May 10, 2018

China's GCL Group has signed a memorandum of understanding (MOU) with Egypt's ministry of military production to build a solar panel facility at a cost of up to $2 billion, state-run newspaper Al-Ahram reported on Thursday.Under the MOU, which was signed on Wednesday…

Rolls-Royce Secures Milestone Order in China

May 09, 2018

Rolls-Royce has received its first order in china for series 4000 mtu engines fulfilling epa tier 4 final emissions regulations. Rolls-Royce key customer jereh petroleum equipment has ordered 16 engines of type 12v 4000 t95 for new fracturing pump equipment.

Buyers Seek US Waivers to Buy Iranian Oil amid New Sanctions

May 09, 2018

South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.Iran is the…

Saudi Arabia, Others Can Boost Oil Output after US Quits Iran Deal

May 09, 2018

Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any potential shortage but it will not act alone to fill in the gap, an OPEC source familiar with the kingdom's oil thinking said on Wednesday…

Maersk Likely to Shelve Plans to List Drilling Division

May 09, 2018

Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling…

Papua New Guinea LNG Mid-term Deals to be Finalized

May 08, 2018

Papua New Guinea LNG mid-term deals to be finalized in H1 2018** Papua New Guinea's (PNG) liquefied natural gas (LNG) project aims to finalise supply agreements with shortlisted companies for up to 1.3 million tonnes per year of LNG in the first half of 2018…

Russia's Oil Exports to Europe Decline as Quality Worsens

May 08, 2018

Russia has exported less crude oil to Europe this year as the quality of the fuel on offer deteriorated and tense diplomatic relations prompted it to redirect more volumes to China.Russia increased oil pipeline exports to China by almost 50 percent in January-April from a year earlier to 12…

Iran Prepares to Export New Oil Grade amid Sanctions Threat

May 08, 2018

Iran is readying the first commercial exports of its West Karoun crude oil grade for May or June, two sources familiar with the matter said, even as fresh economic sanctions against the country loom.Iran has already been shipping samples of…

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…

Jumbo Completes Work on Bangladesh FLNG Terminal

May 04, 2018

In 2017 Jumbo was awarded a contract by Geocean for the Moheshkhali Project, which is seeing a floating liquefied natural gas (LNG) import terminal developed off the shores of Moheshkhali Island in the Bay of Bengal, Bangladesh. It will be the…

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…

India's First FSRU Based LNG Terminal Launched

May 03, 2018

H-Energy Gateway, the energy venture of Hiranandani Group, launched India’s first Floating Storage Regasification Unit (FSRU) based LNG terminal at JSW Jaigarh Port in Ratnagiri District, Maharashtra.  The Jaigarh Port is owned & operated by…

Oil Slips as OPEC, Iran Worries Balance U.S. Output

May 03, 2018

Potential of new U.S. sanctions against Iran keep market on edge as OPEC cuts bolstered by Venezuelan declines also support. Oil prices slipped on Thursday as swelling U.S. crude inventories and record weekly U.S. production clashed with OPEC supply cuts and the potential for new U…

Current News

Philippines Defends Malampaya Gas Deal with Duterte's Ally after Graft Complaint

Philippines Defends Malampaya Gas Deal with Duterte's Ally after Graft Complaint

Seismic Survey: Bluepulse from Sercel Designed for 'Sensitive' Marine Areas

Seismic Survey: Bluepulse from Sercel Designed for 'Sensitive' Marine Areas

Intellian, Inmarsat Launch New FleetBroadband Terminals

Intellian, Inmarsat Launch New FleetBroadband Terminals

Indonesia Cuts Oil and Gas Production Targets

Indonesia Cuts Oil and Gas Production Targets

Report: As Power Crisis Worsens, India Presses Qatar for Delayed LNG Cargoes

Report: As Power Crisis Worsens, India Presses Qatar for Delayed LNG Cargoes

Opinion: Global Oil Market is Tight, Despite what Producers Say

Opinion: Global Oil Market is Tight, Despite what Producers Say

Several Workers Injured in Refinery Fire in Kuwait

Several Workers Injured in Refinery Fire in Kuwait
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