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US Oil Rig Count Climbs for 23rd Week
U.S. energy firms added oil rigs for a record 23rd week in a row, extending a year-long drilling recovery as producers boost spending on expectations crude prices will rise in future months despite this week's decline to a 10-month low. Drillers added 11 oil rigs in the week to June 23…
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Mexico's Pemex Sees Restart of Salina Cruz Refinery
Mexican state oil producer Pemex said on Thursday that it expects to restart operations on July 30 at Salina Cruz, its largest oil refinery, after it was hit last week hit by flooding and subsequent fire that forced a shutdown of the plant. The program contemplates three-way actions: Restarting operations…
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Coal Isn't Dead (Yet): Russell
Here's a question for the anti-coal lobby. If coal is dying, how come there is an increasingly heated bidding war going on for Rio Tinto's coal mines in Australia? Here's another question, this time for the pro-coal lobby. If coal still has a viable long-term future as an energy source…
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Lithuania Inks U.S. LNG Supply Deal
Lithuania's state-owned gas trader Lietuvos Duju Tiekimas (LDT) said on Monday it had signed a deal to buy liquefied natural gas (LNG) directly from the United States for the first time and expects to receive a delivery in the second half of August. The deal is with a unit of Cheniere…
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Hedge Funds Abandon Hope in OPEC
“All hope abandon, ye who enter here,” is the warning inscribed above the gate of Hell, according to the Italian poet Dante Aligheri (“The Divine Comedy”, Inferno, Canto III, 1308-1320). Hedge funds and other money managers appear to have entered their own special version of hell and abandoned all hope that OPEC will rebalance the oil market…
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YPF Says Technology Lowering Its Shale Costs
Longer horizontal wells and technology improvements will help Argentine state-run oil company YPF SA lower costs at its most productive shale field…
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Novatek Aims to Topple Qatar from LNG Top Spot
Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied natural gas as it gets closer…
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Greece Approves Trio of Drillers for Offshore Contracts
Greece approved applications submitted by a consortium of Total, ExxonMobil and Hellenic Petroleum for oil and gas exploration…
Latest news
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Heriot-Watt Sets Global Data Landscape for BP Statistical Review
The economics professor who leads the in-depth data collation process for BP’s annual Statistical Review of World Energy…
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Hurricane Dora Forms Off Mexico's Pacific Coast
Hurricane Dora formed off the western coast of Mexico in the Pacific Ocean on Monday, but it was expected to slow and remain offshore, the U.S.
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Aker Solutions to Supply Umbilicals for Coral South FLNG
Aker Solutions was awarded a contract to deliver three umbilicals and associated equipment at ENI's Coral South project,…
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EnQuest's Kraken Oilfield Latest North Sea Boost
Field to produce 50,000 bpd at peak; Kraken welcome news for heavily-endebted EnQuest. EnQuest has started oil production…
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Statoil Decision on Castberg Field in late 2017
* Expected to come on stream in 2022, the Castberg field will be operating for 30 years. * Statoil will invest around NOK…
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Oil Edges up Again, but U.S. Supplies Worry
U.S. drilling activity continues to rise; OPEC's supply cuts undermined by higher U.S. output. Oil edged up for a third straight session on Monday…
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Naftogaz asks for China Energy Loan Extension
Ukrainian state energy company Naftogaz has asked a Chinese state bank to extend the deadline by which Naftogaz must submit…
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EU Nations Back Plan for Talks with Russia Over Pipeline
Thirteen EU nations voiced support on Monday for a proposal to empower the bloc's executive to negotiate with Russia over…
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Eletrobras CEO Says Not Considering Resigning
Wilson Ferreira Jr, the chief executive officer of Brazilian state-controlled power utility Eletrobras, on Monday said he…
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Rio Picks Yancoal for Coal Sale
Rio sticks with Yancoal over Glencore for coal mine sale. Rio Tinto on Monday confirmed Yancoal Australia as the preferred…
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GE Wins First Major Deal from Alstom Portfolio, in Romania
General Electric has won a large contract to supply gas power equipment for a new 430 megawatt Romanian power plant, the…
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Trelleborg Acquires Automated Dynamics
Trelleborg said it has, through its business area Trelleborg Sealing Solutions, signed an agreement to acquire the U.S.-based…
Offshore Oil & Gas
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Statoil Cleared to Use Cap-X Drilling Technology – for Now
A ban on Norway's Statoil using a pioneering drilling technology in the Barents Sea was lifted after a plaintiff failed to…
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ATR Opens Facilities in Kazakhstan
ATR, a Centurion company, has opened a new base in Kazakhstan as the company looks to capitalize on recent business growth in the region.
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UK Mulls Revisiting Oldest North Sea Blocks
Britain wants oil and gas drillers to recover pockets of gas that are more difficult to reach in a part of the North Sea…
Shale Oil & Gas
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Brent Crude Oil Back Above $45
U.S. crude, gasoline stockpiles fall but supply glut weighs on market. Oil edged up from multi-month lows on Thursday, but…
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Cenovus Facing Tough Market for Critical Asset Sales
Cenovus Energy Inc's efforts to sell C$5 billion ($3.8 billion) of energy assets, already facing a rocky road because weak…
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Traders Hunt for Shale's Pain Threshold: Kemp
Crude prices are likely to remain under pressure until there are signs the number of rigs drilling for oil in the United…
LNG
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Golar, Delfin to Jointly Develop US FLNG Project
A joint development agreement between Delfin Midstream and Golar LNG Limited will see the two jointly develop the Delfin…
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Poland Halts Yamal Pipeline Gas Deliveries
Poland's state gas pipeline operator Gaz-System said on Wednesday the country has stopped taking in gas deliveries via the…
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Private Producer Aims to Ship Baltic's First Russian LNG Before Gazprom
LNG Gorskaya, a privately-owned Russian liquefied natural gas (LNG) producer, has launched a 340 million euro ($379 million)…
Renewables
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Statkraft to Sell its Stakes in Two UK Wind Farms
Norway's power firm Statkraft will launch the sale of its entire stakes in two wind farms offshore Britain, Sheringham Shoal and Dudgeon…
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Statoil Eyes Japan, US for Floating Wind Projects
Norwegian oil company Statoil is targeting Japan and the U.S. states of California and Hawaii to expand its floating offshore wind turbine business…
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Statoil Calls for World Energy Transformation
In a post on its website, Statoil said it expects substantial changes in the global energy mix. In moving toward a low-carbon energy system…
Technology
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LR Verifies BP FPSO Glen Lyon
The Glen Lyon floating production storage and offloading (FPSO) vessel, BP’s newest North Sea asset, was awarded full-term…
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World First: Commercial Onshore Remote WROV Ops
Norwegian ingenuity in the subsea space strikes again, as IKM Subsea, based in Bryne, Norway, has opened what it believes…
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Tampnet Awarded Johan Sverdrup Contract
Tampnet, provider of high-capacity, low-latency based telecommunication infrastructure and services for the offshore oil and gas industry…
Legislation
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Neste Employees Cancel Political Protest
Employee groups at Finnish refiner Neste have cancelled plans to halt fuel distribution from the company's domestic refineries…
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Oil Faces Worst H1 Since 1997
Oil steadied on Wednesday, paring earlier losses, but was set for its largest price slide in the first half of any year for the past two decades…
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Rio Tinto recommends Yancoal coal offer over Glencore
Rio says Yancoal deal could be agreed more quickly; says Yancoal has improved offer. Rio Tinto selected Yancoal on Tuesday…
