Oil companies must explore for more offshore oil and gas reserves if Norway is to maintain energy production at its current level, state-owned oil firm Petoro said on Wednesday. Petoro holds stakes in several oil and gas firms off Norway…
Bangladesh's Summit Power International said on Tuesday it signed a memorandum of understanding with Japan's Mitsubishi Corp and subsidiary Diamond Gas International to develop a $3 billion LNG-to-power project. Under the MoU, subsidiary Summit Corp…
Indian imports of oil from Venezuela have fallen to their lowest levels in over half a decade, shipping and industry data showed, as a severe economic and political crisis hits crude output in the South American OPEC member. India's oil imports from Venezuela averaged around 300…
Saudi Arabia's cabinet approved on Tuesday the national policy of the atomic energy program, state news agency SPA reported.The national policy includes limiting all nuclear activities to peaceful purposes, within the limits defined by international treaties…
The Trump administration's plan to broadly expand drilling in U.S. offshore waters is moving slowly due to opposition from coastal states and indifference from oil companies that have turned their focus to other opportunities. The administration hopes encouraging U…
Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernisation of its refineries, companies' plans and analysts' reports show. Russia embarked on a modernisation…
Norwegian shipping firm Golar LNG on Monday said liquefied natural gas (LNG) production had started at its floating LNG production platform in Cameroon, the world's second working example of the nascent technology.The trading arm of Russia's Gazprom has purchased the entire 1…
MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil…
In an effort to address a recurring problem with faulty connectors in critical safety equipment, the Bureau of Safety and Environmental Enforcement (BSEE) commissioned a National Academy of Engineering study on the matter in September 2016…
Russia and Serbia have revived an idea of building a gas pipeline in the Balkan country, a project that would enable Gazprom to step up its gas supplies to Europe, bypassing Ukraine.The Serbian pipeline will be linked to Bulgaria and Hungary…
Falling industrial demand and mild weather have turned China's energy giants into sellers of liquefied natural gas (LNG) in Asia for the first time since last year's massive import spree.Chinese players were on the receiving end of last year's doubling of LNG prices…
A.P. Møller - Mærsk A/S [A.P. Moller - Maersk] has received all regulatory approvals and has today completed the sale of Mærsk Olie og Gas A/S [Maersk Oil] to Total S.A. [Total], which was announced on 21 August 2017. A.P. Moller - Maersk…
The latest Australian Bureau of Statistics (ABS) exploration data confirms that the slump in petroleum exploration in Australia continues. “Yesterday, the ABS released data for 2017, confirming that exploration in Australia is stalled. Exploration expenditure is well below trend…
The Trump administration last week asked a top Chinese economic official for a $100 billon reduction in the U.S.-China trade deficit, the Wall Street Journal reported on Thursday, citing people familiar with the matter.The report comes one day after U…
It's safe to dismiss any impression that China's imports of major commodities such as crude oil and iron ore were weak in February, despite the numbers suggesting as much. The timing of the Lunar New Year holiday usually affects when imports…
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