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US Drillers Cut Most Oil Rigs since January
U.S. energy firms cut the most oil rigs in a week since January as a 14-month drilling recovery stalled due to weak crude prices. Drillers cut seven oil rigs in the week to Sept. 15, bringing the total count down to 749, the least since June, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.
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Saipem CEO: Nord Stream II on Track if 'conditions right'
The Nord Stream II pipeline project will go ahead if conditions are right but sanctions may impact on work, the chief executive of Italian oil services group Saipem said on Tuesday. Nord Stream II, led by Russian gas giant Gazprom, aims to increase Russian natural gas exports to Europe…
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Oil Nears Five-Month Highs
Saudi crude exports fell to three-year low in July, as U.S. shale output seen rising for 10th month in October. Oil prices traded close to five-month highs on Tuesday after key Middle Eastern producers showed they continued to comply with output cuts under an OPEC-led deal that Iraq's oil minister said could be extended or deepened. A weaker U.S.
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Total Ups Renewables Stake With Two Deals
Total buying 23.5 pct stake in EREN RE. Oil major Total has stepped up its expansion into renewables with investments in solar and wind energy producer EREN RE and energy efficiency firm GreenFlex. Bruised by pressure on oil prices over the last two years, Europe's biggest oil companies…
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Glencore Inks Angolan LNG Purchase Deal
Trading house Glencore is to buy liquefied natural gas (LNG) supplies from Angola LNG over a multi-year period, adding to similar recent deals between the producer and traders including Vitol. Angola LNG on Wednesday said the deal was another step toward building its sales book with the most important players in the LNG market.
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Platts to Publish U.S. Crude Prices in Asia
Platts, Argus vie for U.S.-Asia crude benchmark. Oil pricing agency S&P Global Platts said on Thursday it planned to publish U.S.
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Lebanon Passes Oil Tax Law
Lebanon made progress in its efforts to develop a hydrocarbons industry on Tuesday when lawmakers passed a petroleum tax law…
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Colonial Pipeline Allows Port Arthur Refiners to Ship Fuel after Harvey
Colonial Pipeline, the largest fuel system in the United States, said on Monday that Port Arthur, Texas refiners can use…
Latest news
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Oil Prices Slip Ahead of Key OPEC Meeting
OPEC meeting in Vienna on Friday as U.S. crude production has reached pre-Harvey storm levels. Oil prices slipped on Thursday…
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New Electrical Steam Boiler Module for Aoka Mizu FPSO
Parat Halvorsen AS said it recently secured a contract to design and fabricate a complete, turnkey steam boiler module for…
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ROG Ship Repair Completes FPSO Moonpool Project
Holland’s ROG Ship Repair said it has come to the aid of a Floating Production & Storage Offshore (FPSO) vessel ran into…
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Oil on Course for Strongest Q3 since 2004
Brent crude set for Q3 rise of nearly 16 pct. Oil rose was on course for its largest third-quarter gain in 13 years as prices…
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BP's Thunder Horse Platform Shut Temporarily on Power Issue
BP Plc halted production at its Thunder Horse platform in the U.S. Gulf of Mexico on Monday following a power outage, a company…
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Anadarko Petroleum to Buy Back $2.5 Bln in Shares
Anadarko Petroleum Corp said on Wednesday that its board had authorized a $2.5 billion share repurchase program through 2018.
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San Francisco, Oakland Sue Oil Firms Alleging Climate Change Costs
California cities, San Francisco and Oakland, said they filed separate lawsuits against five oil companies on Wednesday seeking…
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Crude Inventories Up Again, Gasoline, Diesel Stocks Down
U.S. crude stocks rose last week and refineries raised output, while gasoline stocks and distillate inventories fell, the…
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Total Working with Brazil Agency to Clear Amazonas Drilling
Oil major Total is working with Brazil's environmental agency Ibama to resolve the last questions regarding the process to…
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Uniper says Fortum Bid Not Welcome, Not in Discussions
German energy company Uniper , whose biggest shareholder is E.ON, on Wednesday said it had not invited a bid by Finnish state-controlled peer Fortum.
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Chevron Drills Oil Well in Iraqi Kurdish Area after Two-year Gap
U.S. firm Chevron drilled its first exploration well this month in Iraqi Kurdistan after a two-year break, industry sources said…
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Statoil to Reduce Gas Output Sept 24-25
Statoil's gas output will be reduced by 6.5 million standard cubic metres per day from September 24 at 0600 CET (0400 GMT)…
Offshore Oil & Gas
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Hopes Lifted for Norway-Scotland Power Cable Project
The prospects for a planned 1.4 gigawatt (GW) power interconnector linking Norway and Scotland have improved following the…
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GTT to Design LNG Tanks for FSRU Newbuild
GTT said it has received an order from the South Korean Shipyard Hyundai Heavy Industries concerning a new Floating Storage…
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Triton Knoll Offshore Wind Farm Picks MHI Vestas Turbines
The consortium planning to build Britain's Triton Knoll offshore wind park has chosen to buy 90 giant turbines from MHI Vestas, it said on Monday.
Shale Oil & Gas
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US Shale Sector at Critical Price Threshold: Kemp
Forward U.S. oil prices for 2018 have climbed back above $50 per barrel, a level that should be high enough to stabilise…
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Oil Rises on IEA Optimism
IEA raises 2017 global oil demand growth; says investors sees tighter market, higher oil prices. Oil prices rose on Wednesday…
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OPEC Sees Higher 2018 Demand, Trims Output
OPEC on Tuesday forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its…
LNG
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Gazprom Signs LNG Supply Deal with Ghana
Russian gas giant Gazprom has signed a 12-year deal to supply Ghana National Petroleum Corporation (GNPC) with liquefied natural gas…
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CNOOC Ends Feasibility Study for Western Canadian LNG Terminal
China's CNOOC Ltd said on Thursday it will end the feasibility study for its (LNG) export terminal on British Columbia's…
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Netherlands to Receive LNG from Sabine Pass Plant
The Netherlands will receive its second-ever liquefied natural gas (LNG) shipment from Cheniere Energy's Sabine Pass export…
Renewables
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Shell eyes Asia Moves, Vehicle Recharging Stations
Shell is world's biggest fuel station operator; will focus on downstream earnings as crude price falls. Royal Dutch Shell…
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MOU for Offshore Wind Development in Taiwan
Global Maritime, a provider of offshore marine warranty, dynamic positioning and engineering services, has signed a Memorandum…
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CWind Awarded TP Gate Contract
Offshore wind industry services provider CWind said it has been awarded a contract by DONG Energy, to install new and retrofit…
Technology
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ABS Awards AIP for HHI FLNG Hull Design
ABS has granted Approval in Principle (AIP) to Hyundai Heavy Industries (HHI) floating liquefied natural gas (FLNG) hull design.
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N-Sea Begins Work in Cameroonian Offshore Market
Subsea services provider N-Sea said it has begun work in the Cameroonian offshore market, via a contract win with Dutch offshore…
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IKM Cleandrill to Start Operations in Azerbaijan
IKM Cleandrill is slated to begin its first offshore operations in the Caspian Sea in early 2018, after having been awarded…
Legislation
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Palmali Lodges $2 Bln Claim Against Lukoil's Litasco
Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco…
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U.S. Interior Chief Seeks Changes at U.S. Monuments
The head of the U.S. Department of the Interior urged President Donald Trump to lift restrictions on activities such as logging…
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Russia Signs Out-of-court Settlement with Exxon on Sakhalin-1
Russia and U.S. oil major Exxonmobil have signed an out-of-court settlement agreement regarding a legal dispute over the…
