Mexico's state-oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit of its 2017 operations…
The floating production systems (FPS) market in Americas will register a CAGR of almost 7% by 2023, said a study.The need to meet the increase in demand for energy for both export and domestic consumption in the region is driving the growth of offshore oil and gas activities…
The European Marine Energy Centre has secured a lease extension on its primary tidal energy test site until 2040 from Crown Estate Scotland.The extension will support the long-term ambitions and demonstration plans of EMEC’s clients.The grid…
Spanish energy giant Repsol has made a substantial natural gas discovery in Indonesia along with its partners, Malaysia's Petronas and Japan's Mitsui Oil Exploration (Moeco).The company described the discovery in South Sumatra as 'the largest…
Norwegian energy company Equinor has announced its 2018 sales of natural gas totalled $26bn, an increase of 29% from 2017.Equinor sold a total of 100 billion cubic metres (bcm) of gas worldwide in 2018. The company is the second-largest gas supplier to Europe…
The throughput of LNG - liquefied natural gas - as bunker fuel in the Rotterdam bunker port increased considerably from 1,500 to 9,500 tonnes in 2018.Meanwhile, the sale of bunker oil - fuel for shipping - in the bunker port decreased from 9…
Shipowners, shipyards, manufacturers and ports have joined forces to investigate the feasibility of methanol as a sustainable alternative transport fuel in the maritime sector.Major shipowners Boskalis, The Royal Netherlands Navy, Van Oord and Wagenborg Shipping will take part in the consortium…
The U.S. Environmental Protection Agency has received 37 applications for small refinery waivers for 2018 from the U.S. Renewable Standard (RFS) through mid-February, according to data released on Thursday by the agency.The 37 applications matches the total the EPA received last year…
A board of directors appointed this month by Venezuela's opposition-controlled congress to run state-owned oil firm PDVSA's U.S. unit Citgo Petroleum on Thursday was arranging its first meeting at the company's headquarters, according with two people familiar with the matter…
Equinor sold natural gas for around $26 billion in total in 2018, an increase of 29 percent from 2017. As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards 2030…
Mexican President Andres Manuel Lopez Obrador said on Thursday the country will not offer more oil joint ventures between private companies and state energy company Pemex for the moment.In reply to a question about the contracts known in the…
Private equity firm HitecVision is seeking to sell its British North Sea oil and gas production unit Verus Petroleum, which last year completed a string of large acquisitions ramping up its output, industry and banking sources said.The sale…
Turkey will begin drilling for oil and gas near Cyprus in coming days, state-owned news agency Anadolu reported Foreign Minister Mevlut Cavusoglu saying on Thursday, a move that could stoke tensions with neighboring Cyprus and Greece.Turkey…
Oil and gas companies operating in Norway have lowered their investment forecasts for 2019 to 172.7 billion crowns ($20.06 billion) from 175.3 billion crowns seen in November, a survey by the country's statistics agency (SSB) showed on Thursday…
Oil traders are becoming very bullish on the outlook for prices, betting that Saudi Arabia will do whatever it takes to tighten the market even if consumption growth slows, helped by U.S. sanctions on Iran and Venezuela.Brent's calendar spread…
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