Europe's independent oil and gas exploration and production company Lundin Norway will drill and test a new exploration well in the Barents Sea, following approval by the Norwegian Petroleum Safety Authority (PSA).'Lundin is the operator for production licence 767…
Japanese shipping giant Mitsui O.S.K. Lines (MOL) has announced its support for three initiatives to address the issue of global warming. The initiatives include supporting, and active participation in the task force on climate-related financial disclosures…
To help increase ratification of the FAL Convention and improve understanding of its requirements, two National Seminars on Facilitation of International Maritime Traffic have been delivered by International Maritime Organization (IMO), in cooperation with the Pacific Community (SPC)…
Oil and gas companies operating in Norway have raised their investment forecasts for 2019 to 175.3 billion Norwegian crowns ($20.6 billion) from 165.1 billion seen in August, a survey by the country's statistics agency (SSB) showed on Thursday…
BP Southern Africa (BPSA) will invest $1 billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said on Thursday.The 180,00 barrels per day SAPREF refinery…
Crude inventory build has reared its head again. And fears of an oil glut returning have sent oil prices south.According to the International Energy Agency (IEA), OECD oil stocks increased by 58.1 million barrels in Q3 2018, the largest gain since 2015…
Dutch offshore construction and engineering company Heerema Fabrication Group (HFG) intends to divest a significant part of its activities in the field of design and fabrication of complex steel constructions for the offshore market.HFG has…
Malaysia-based integrated oil and gas services Sapura Energy Berhad has strengthened its presence in Mexico and Malaysia with new contract wins valued at approximately RM1.75 billion (USD 410 mln).The new contracts have lifted the company’s…
Royal Dutch Shell's Shell Australia said Wednesday it entered into a sales agreement with Timor-Leste to sell the government a 26.56% interest in the Greater Sunrise fields for $300 million.The Greater Sunrise fields, comprised of the Sunrise and Troubadour gas and condensate fields…
Aberdeen-headquartered Faroe Petroleum has started drilling the Brasse East exploration well off the coast of Norway.The oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK announced…
Spanish multinational oil and gas company Cepsa announced that Musabbeh Al Kaabi was named as Chairman in succession to Suhail Al Mazrouei at a meeting of the Board of Cepsa.This follows the appointment by Mubadala, as sole shareholder, of Saeed Al Mazrouei…
Russian energy giant Gazprom revealed that there is still a high level of uncertainty in the long-term forecasts for U.S. shale gas production. It also said that the number of LNG-consuming countries would grow in the long term.Gazprom's Board…
Oil prices rose almost $2 a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns remained over rising global crude supply.Brent crude futures gained $1…
U.S. supermajor Chevron announced that its operated Big Foot deepwater project in the U.S. Gulf of Mexico has started crude oil and natural gas production.The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5…
Russia's Zarubezhneft has signed a memorandum of understanding with South Sudan to explore four oil blocks, South Sudan's petroleum minister said on Tuesday.The company was awaiting more information on the blocks from the Petroleum Ministry before starting exploration…
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