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Wind Power's Big Bet: Colossal Turbines
Wind farm operators are betting on a new generation of colossal turbines, which will dwarf many skyscrapers, as they seek to remain profitable after European countries phase out subsidies that have defined the green industry since the 1990s. The world's three leading offshore wind operators - DONG Energy…
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China Cash Boosts African FLNG Projects
China aims to become lowest-cost seller of FLNG plants; its shipyards to build floating plants for African projects. China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy…
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Cyber Attack Hits Oil Giant and Banks in Russia and Ukraine
Russia's top oil producer Rosneft said a large-scale cyber attack hit its servers on Tuesday and computer systems at some banks and the main airport in neighbouring Ukraine were also disrupted. A Moscow-based cyber security firm, Group-IB, said it appeared to be a coordinated attack simultaneously targeting victims in Russia and Ukraine.
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'Bring On More Renewables,' US Regulator Says
Wind and solar power does not make the U.S. electricity grid less stable, an outgoing federal regulator said on Tuesday, as the Trump administration readies a study that will examine whether renewable energy has had a harmful effect. Colette Honorable, a member of the Federal Energy Regulatory Commission…
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US Shale Producers Say Spending Flexibility Is Key
U.S. shale oil producers plan to keep drilling new wells despite this month's crude price drop but expect to revisit spending should pricing remain below $45 a barrel for several months. "We will not drill into oblivion," Tim Dove, chief executive of Pioneer Natural Resources Co, told investors on Tuesday at a J.P.
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US Shale CEO Sees Saudi Arabia Moving to Lift Oil Prices
Saudi Arabia likely will move to boost oil prices after a recent drop in order to prop its own national finances, the chief executive of U.S.
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BP Doubles Down on Deepwater
About 300 BP workers commute 150 miles here by helicopter, from the Louisiana coast to a deep-sea drilling platform that…
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Hedge Funds Holding Near-Record Short Petroleum Positions
Oil prices have been rising gently during the past four trading sessions despite concerns about the continued rise in the U.S.
Latest news
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ING Will Not Finance Major Canadian Pipeline Projects
Dutch lender ING Groep NV has said it would not finance any of Canada's major pipeline projects, including TransCanada Corp's…
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ESS Completes Beatrice Wind Farm Clearance
Ecosse Subsea Systems (ESS) has completed a 14-day seabed clearance project on the Beatrice Offshore Windfarm Ltd project…
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Oil Below $47 as U.S. Inventories Fuel Glut Worries
API reports surprise increase in U.S. crude, gasoline stocks. Oil edged lower towards $47 a barrel on Wednesday after an industry report said U.S.
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Norway Increases Troll Gas Quota
Statoil has received a permit to increase gas output from its biggest gas field Troll by 3 billion cubic metres (bcm) for the 2017 gas year…
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Pemex Declares Force Majeure over Maya Crude from Pacific
Mexico's state-run oil company Pemex has declared force majeure over at least two cargoes of Maya crude to be loaded at its…
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US Charges Penn West Petroleum with Accounting Fraud
U.S. securities regulators on Wednesday filed civil accounting fraud charges against Canada-based oil and gas company Penn…
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US Crude Stocks Rise, Gasoline Stocks Fall
U.S. crude stocks rose slightly last week as refineries cut output, while gasoline stocks decreased and distillate inventories fell…
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OPEC Should Let Oil Prices Rebalance the Market
The 1980s film “WarGames” contains an important lesson for OPEC and shale producers about the futility of trying to manage the oil market.
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Rosneft to Complete Essar Deal in Nearest Future
Russian largest oil producer Rosneft said on Wednesday that it plans to complete the deal to acquire a 49 percent stake in…
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Unipec, Vitol Win Oil Supply Contract for Bangladesh
Unipec and Vitol have won a tender to supply oil products to Bangladesh, two government sources with direct knowledge of the matter said on Wednesday.
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Ecopetrol Rubiales Oil Output Hit by Protests
Colombian state oil company Ecopetrol said on Tuesday it has suspended production at some wells in the nation's largest oil…
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PKN, Lithuanian Railways Reach Deal on Fuel Transport Costs
Poland's biggest oil refiner PKN Orlen and Lithuanian Railways have agreed on new oil product transport fees and to end litigation…
Offshore Oil & Gas
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OPEC: No Rush for Deeper Cuts
Deeper cut possible, no real discussions now-delegate. OPEC will not rush into making a further cut in oil output or end…
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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…
Shale Oil & Gas
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Oil Edges Up Despite Huge H1 Drop
Prices in H1 have fallen about 20 pct; analysts say demand growth, lower U.S. stocks can support prices. Oil edged up on Friday…
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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 ($3.8 billion) of energy assets, already facing a rocky road because weak…
LNG
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Novatek Aims to Topple Qatar from LNG Top Spot
Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied natural gas as it gets closer…
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KOGAS to Receive first Cheniere LNG Cargo
KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract. Korea Gas Corp (KOGAS)…
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India's LNG Market to Reach USD 30.7bln by 2025
India Natural Gas and LNG market is expected to grow from US$ 19.7 billion in 2015 to US$ 30.7 billion by 2025 at a CAGR…
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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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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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…
Legislation
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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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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…
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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…
