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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…

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…

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…

Shanghai Crude Futures off to Cautiously Good Start

May 02, 2018

The new Shanghai crude oil futures have been trading for just over a month and have so far managed to build up reasonably strong volumes, but this success may only mask some wider concerns. The yuan-denominated contracts were launched on…

India Seeks Japan's Help to Build LNG Facilities

May 01, 2018

India asked Japan on Tuesday to help build infrastructure needed to boost the usage of liquefied natural gas (LNG) in India and elsewhere in Asia, India's oil minister Dharmendra Pradhan said after a meeting with Japan's trade minister Hiroshige Seko…

Diamond Offshore Beats Street, Posts Q1 Loss

Apr 30, 2018

Diamond Offshore Drilling Inc reported a smaller-than-expected quarterly loss on Monday, helped by new contracts for the company's deep-water rigs. Rig utilization was at 52 percent during the first quarter, from 47 percent last year, even as average day rates…

Hedge Funds Trim Crude Positions, but Boost Fuels: Kemp

Apr 30, 2018

For all the bullish chatter, hedge fund managers have become cautious about increasing their exposure to crude oil, though they are becoming increasingly optimistic about the outlook for refined fuels again. Hedge funds and other money managers…

BSEE Regs Update to Cut Burden on Operators

Apr 28, 2018

The Bureau of Safety and Environmental Enforcement (BSEE) – incorporating industry innovation, best science, and best practices – is proposing to update regulations covering offshore oil and gas drilling operations to improve reliability, safety…

Petrobras Seeks Partnerships

Apr 28, 2018

Petrobras informs that it has started the disclosure stage of two divestment opportunities (Teasers) related to the sale of its interest in refining and logistics in Northeast and South regions of Brazil. Petrobras intends to sell 60% of its equity interest in each of these new companies…

Singapore to Require Flow Meters for Bunker Transfers

Apr 26, 2018

Singapore's Maritime Port Authority (MPA) is set to announce it is making use of mass-flow-meters (MFM) mandatory onboard marine gasoil barges used to refuel large ships, two people with knowledge of the matter said. The announcement will…

First Johan Sverdrup Topside Installed

Apr 26, 2018

With the last module of the Johan Sverdrup riser platform lifted into place, the first of four topsides of the next North Sea giant has been installed.“It’s a special feeling to see the first Johan Sverdrup platform in place, even a few days…

Current News

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Kuok in Compulsory Takeover of Remaining POSH Shares

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Fugro Takes Part in Cambodia's First Oil Development

Bumi Armada Might Appeal Woodside FPSO Case Ruling

Bumi Armada Might Appeal Woodside FPSO Case Ruling

OMV Hires Solstad PSV for New Zealand Campaign

OMV Hires Solstad PSV for New Zealand Campaign

Shearwater Scores More Seismic Work in India

Shearwater Scores More Seismic Work in India

Iran Goes Solo at South Pars Field as Total, CNPC Pull Out

Iran Goes Solo at South Pars Field as Total, CNPC Pull Out

Pacific Radiance Eyeing New Loan Source

Pacific Radiance Eyeing New Loan Source

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