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China's CEFC Investigation Hits $9 billion Russian Oil Deal

Mar 22, 2018

Chinese conglomerate CEFC had already started paying for a stake in Russian oil giant Rosneft when the economic crime police took its chairman Ye Jianming away, halting the $9.1 billion deal in its tracks, according to three sources close to the matter…

Global Carbon Emissions Hit Record High in 2017 - EIA

Mar 22, 2018

Global energy-related carbon emissions rose to a historic high of 32.5 gigatonnes last year, after three years of being flat, due to higher energy demand and the slowing of energy efficiency improvements, the International Energy Agency (IEA) said…

Lindseth quits Noreco

Mar 22, 2018

The independent Norwegian oil company, Noreco stated that its Board and Cecilie O. Lindseth, the Managing Director, have agreed not to renew her employment contract. According to the contract her last day as Managing Director of Norwegian Energy Company ASA will be 31 March 2018…

Record-size US Offshore Oil Lease Sale Draws Modest Bidding

Mar 21, 2018

Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department had offered up a record 77 million acres (31…

China Says to Have "Prudent" Oil Exploration with Philippines

Mar 21, 2018

China will prudently advance cooperation with the Philippines on joint oil and gas exploration in the South China Sea, China's top diplomat State Councillor Wang Yi said on Wednesday after meeting his Philippine counterpart.Any potential deals…

Oil Approaches Six-Week Highs

Mar 21, 2018

Oil neared its highest in six weeks on Wednesday after a surprise decline in U.S. inventories and as concern persisted over possible disruption to Middle East supply.Unexpectedly large inventory declines in the United States helped underpin the market…

Exxon Assessing Earthquake Damage to New Guinea NatGas Plant

Mar 21, 2018

LNG export project knocked out by major quake in late Feb. A senior Exxon Mobil Corp executive said on Wednesday the company is still assessing damage to its natural gas processing plant in the mountains of Papua New Guinea, knocked out by a strong earthquake last month…

McDermott to Bid for Asia Offshore Oil, Gas Contracts

Mar 20, 2018

U.S. engineering and construction company McDermott International plans to bid for $5 billion in contracts in the next few months in Asia Pacific as the region's offshore oil and gas sector recovers, company executives said on Tuesday. The…

Glencore Acquires Rio Tinto's Hail Creek Coal Mine

Mar 20, 2018

Glencore consolidating in coal as Rio exits; Rio Tinto shares rise 0.9 pct, Glencore slips. Glencore is buying Rio Tinto's Hail Creek coal mine and the Valeria coal project in Australia for $1.7 billion, tightening the Swiss trading and…

Total Renewables Unit Targets Africa's Power-Starved Mining Sector

Mar 19, 2018

Total's renewable energy unit said on Monday it had opened the world's largest solar-thermal hybrid plant in Burkina Faso, the first of what it hopes will be many projects supplying the African mining industry's growing need for power.Total…

Exxon Mobil buys LNG to Chill Papua New Guinea Project

Mar 19, 2018

ExxonMobil Corp has bought a liquefied natural gas (LNG) cargo to keep its Papua New Guinea plant cold after a powerful earthquake triggered a production halt last month, several trade sources said on Monday. The cool-down cargo could be…

Energy Battle is More Than OPEC vs U.S. Shale

Mar 19, 2018

The market narrative consuming crude oil markets currently is the interplay between supply cuts by OPEC and its allies and rising U.S. shale output, with a side helping of Chinese imports driving demand. While there are solid reasons for industry participants to focus on these dynamics…

Eni Raises Dividend, Production Targets

Mar 16, 2018

Italian oil and gas group Eni raised its dividend on Friday and held out the promise of a share buyback as it ramped up production and cash flow targets. In its 2018-2021 plan, the major said it would pay a dividend this year of 0.83 euros per share compared to 0…

Oil Set for Weekly Drop as Supply Concerns Weigh

Mar 16, 2018

IEA sees 2018 global oil demand increasing by 1.5 mln bpd. Oil prices were set for a weekly drop despite a slight gain in both benchmarks on Friday, on concerns that rising global supply could undermine efforts by OPEC and other producers to tighten the market…

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…

Current News

Shell's Jack-Up Rig of the Year Award Goes to Maersk Convincer

Shell's Jack-Up Rig of the Year Award Goes to Maersk Convincer

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Oil Prices Drop To Lowest In a Year

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Coronavirus  Delays Three Indonesian LNG Cargoes to China

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Bumi Armada to Appeal Ruling in FPSO Case with Woodside

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Iran to Boost Gas Output Capacity with New Offshore Platform

Saipem in Saudi JV Push

Saipem in Saudi JV Push

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Lebanon Set to Spud Its First Offshore Well

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