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Statoil to Rebrand as Equinor

Mar 15, 2018

Rebranding would cost up to $32.5 mln but firm plans to ramp up renewables investment.  Norway's Statoil plans to change its name to Equinor, reflecting its commitment to become a broad energy company rather than one focused only on oil…

Commodities' Dilemma: Strong Demand or Trade War Fears?

Mar 15, 2018

The tug-of-war between fundamentals and sentiment appears to be getting stronger for many commodities as the market tries to reconcile factors such as robust demand numbers from China and increasingly worrying rhetoric and actions from the United States…

Iran and Russia Sign Deal to Develop Two Oilfields

Mar 14, 2018

Iran and Russia signed a deal on Wednesday to develop two oilfields in Iran, according to Iranian state TV.The National Iranian Oil Company signed a deal with Russia’s Zarubezhneft to develop the fields, according to SHANA, the news site of the Iranian oil ministry…

ExxonMobil Expects to Resume Paying Australian Corporate Tax in 2021

Mar 14, 2018

ExxonMobil Corp said on Wednesday it is likely to resume paying corporate tax in Australia only in 2021, after recouping billions of dollars in investments made in the country in the past decade. The oil giant was grilled at an Australian Senate hearing on tax avoidance…

S.Korea Fuel Oil Imports Soar

Mar 14, 2018

South Korea's move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand…

More Exploration off Norway Needed to Maintain Output -Petoro

Mar 14, 2018

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…

India's Oil Imports from Venezuela Hit Lowest in over 5 Years

Mar 13, 2018

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 Cabinet Approves Nuclear Power Program National Policy

Mar 13, 2018

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…

US States Slow Trump Offshore Oil Drilling Expansion Plan

Mar 12, 2018

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 Ramps up Fuel Exports in Fight for European Market

Mar 12, 2018

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…

MISC Berhad Names FSO Benchamas 2

Mar 12, 2018

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…

BSEE: Report on Subsea Bolting Technology Released

Mar 10, 2018

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…

China's Energy Giants Return to Asian LNG Market as Sellers

Mar 09, 2018

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…

Sale of Maersk Oil to Total Complete

Mar 09, 2018

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…

Stalled Oil and Gas Exploration a Major Economic Risk

Mar 09, 2018

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…

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