IEA sees U.S. gaining market share from OPEC, predicts robust oil demand in next 5 years. Oil prices edged lower towards $64 per barrel on Monday on predictions of a major spike in U.S. oil output in the next five years. International benchmark Brent crude was down 8 cents…
Announcement of Whale well discovery delayed until auction. The gasps in the audience were clearly audible at the auction of Mexico's oil blocks a month ago as Royal Dutch Shell's hefty bids were announced one by one. The size of Shell's…
The Philippines on Friday identified two areas in South China Sea where joint exploration for oil and gas may be undertaken with China, including one in territory that both sides have argued over for years. The two countries have agreed…
Maersk Supply Services said it has completed the first contract for one of its Stingray-Class newbuild subsea support vessel, Maersk Installer, with McDermott.Maersk Installer joined the project in January 2018, supporting the Vashishta development off the East Coast of India…
Exxon Mobil Corp will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon…
Shipping tycoon John Fredriksen has reached an agreement with a majority of creditors over a restructuring plan for oil rig firm Seadrill, according to U.S. court documents on Monday. The company, once the world's largest offshore driller by market value…
Sembcorp Energy India, an independent power producer, filed draft papers with capital markets regulator Sebi to float an initial public offering (IPO). The company, which has thermal and renewable power assets in India, is promoted by the Singapore Exchange-listed Sembcorp Industries…
The Yomiuri newspaper reported on Tuesday that: -Japan's government will submit legislation early next month to boost the use of offshore wind power -Bill to allow operators to use sites for 30 years, from 3-5 years now…
BHP Billiton Ltd and ExxonMobil Corp's Esso Australia said on Friday they have dropped a sale process started 20 months ago for some of Australia's oldest and largest oilfields. 'BHP and Esso have reached a decision to not progress with…
Dutch survey and geotechnical services firm Fugro said it has been awarded a contract by China’s Guangzhou Marine Geological Survey (GMGS) to perform gas hydrate investigation on the Northern Continental Slope of the South China Sea. The…
Petroleo Brasileiro S.A. produced 2.1 million barrels of oil per day (bpd) in January, 1 percent below December's levels, due to maintenance and an asset sale, Brazil's state-run oil company said on Wednesday. Petrobras, as the company is known…
Saudi says to keep exports below 7 million bpd in March; OPEC's Barkindo says 2018 oil demand growth to be healthy. Saudi Arabia will restrain its oil exports in March despite lower domestic need for crude as OPEC's leader is pushing to…
Algeria will acquire more vessels to transport gas to Asia as it eyes increased sales in that region, the chief executive of state energy firm Sonatrach said on Monday.'With Russia and the U.S., gas competition is tough,' Abdelmoumen Ould…
Rig firm Seadrill, which last year filed for bankruptcy protection in a U.S. court, is working towards a comprehensive deal with all its creditors that could be concluded this week, it said in a court filing late on Friday. Once the largest drilling rig operator by market value…
IKM Subsea Singapore said it has kicked off 2018 with a double contract award. The first is a contract to provide two remotely operated vehicles (ROV) for a floating liquefied natural gas (FLNG) mooring installation in Bangladesh. IKM Subsea…
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