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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…

China's Commodity Imports Remain Robust: Russell

Mar 08, 2018

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…

Shell's Gas Production Could Dwarf Oil By 2050 -CEO

Mar 07, 2018

Royal Dutch Shell could boost the share of natural gas production to triple that of oil in order to meet self-imposed goals to halve carbon emissions by 2050, Chief Executive Ben van Beurden said on Wednesday.Speaking at the CERAWeek conference by IHS Markit in Houston…

First LNG from Cheniere US to GAIL India

Mar 06, 2018

Cheniere Energy and GAIL (India) today marked the commencement of their 20-year Sale and Purchase Agreement (SPA) to supply U.S.-sourced liquefied natural gas to India from Cheniere’s Sabine Pass liquefaction facility in Louisiana, with one of GAIL’s first shipments departing from the facility…

U.S. Crude Exports to Asia Slump as WTI Outperforms

Mar 06, 2018

Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades and efforts by other suppliers to maintain competitiveness. Vessel-tracking and port data suggest Asian imports of U…

Oil Rises as Korea Talks Boost Confidence

Mar 06, 2018

IEA sees strong global oil demand growth to 2023. Oil rose on Tuesday, paring earlier losses after South Korea said it would hold a summit with North Korea for the first time in more than a decade, which investors took as a cue to sell the U…

Oil Falls as U.S. Shale Growth Gathers Pace

Mar 05, 2018

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…

How Shell Hid a Whale Before Placing Mexican Oil Bet

Mar 02, 2018

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…

Philippines, China Mull South China Sea Energy Cooperation

Mar 02, 2018

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, McDermott Complete Contract off India

Mar 02, 2018

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…

U.S. Considers Venezuela Oil Sanctions

Mar 01, 2018

The Trump administration is considering sanctioning a Venezuelan military-run oil services company and restricting insurance coverage for Venezuelan oil shipments to ratchet up pressure on socialist President Nicolas Maduro, a U.S. official said…

Exxon Quits Some Rosneft Joint Ventures Citing Sanctions

Mar 01, 2018

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…

Fire Erupts at Schlumberger Facility in Angola

Feb 28, 2018

A fire has erupted at the facility used by U.S. oil services company Schlumberger at Angola's oil logistics hub in the capital Luanda, the chairman of state-run oil company Sonangol told a news briefing on Wednesday. Schlumberger, the world’s largest oilfield services…

Oil Struggles to Escape China Demand Concerns

Feb 28, 2018

Soaring U.S. crude production also weighs on market. Oil prices struggled to stay in positive territory on Wednesday after data showed industrial activity in some of the world's major crude-consuming nations has softened. May Brent crude futures were virtually unchanged at $66…

Current News

Russia Expecting Oil Output Bump

Russia Expecting Oil Output Bump

VOS Champion Starts New Charter

VOS Champion Starts New Charter

Fugro Completes Deepwater AUV Survey for Shell

Fugro Completes Deepwater AUV Survey for Shell

China to Launch State Pipeline Group

China to Launch State Pipeline Group

Neptune Buys East Sepinggan Stake

Neptune Buys East Sepinggan Stake

EnQuest Awarded Block PM409 PSC

EnQuest Awarded Block PM409 PSC

Tendeka Launches One-trip Remedial System

Tendeka Launches One-trip Remedial System

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