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Transocean to Buy Songa Offshore
About 77 pct of Songa shareholders have so far accepted deal. Transocean, one of the world's biggest drilling rig operators, has agreed a deal to buy Norwegian competitor Songa Offshore for 9.1 billion Norwegian crowns ($1.1 bln), the two companies said on Tuesday. The deal, which would be mostly paid for in shares and convertible bonds…
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Latest Gulf of Mexico Auction Signals Offshore Return
Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return to deep water exploration gained momentum. This compared with $18 million in high bids at the Bureau of Ocean Energy Management's (BOEM) Outer Continental Shelf auction last summer.
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Vopak Sees 2017 Profit Down on Lower Occupancy
Dutch oil and chemical storage company Vopak said on Friday its core profit in 2017 would be lower than last year, due to lower occupancy rates of its tank terminals and the firm's plans to invest in its storage facilities. Vopak said earnings before interest, taxes, depreciation and amortization (EBITDA) would fall drop 5 to 10 percent in 2017.
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Damen Shiprepair Rotterdam Completes the Refit of Petrojarl 1
On the August 18, 2017, Damen Shiprepair Rotterdam (DSR) has delivered the FPSO Petrojarl 1 to Teekay Offshore following a complete redeployment project taking place over the past 2 ½ years. The Petrojarl 1 has been operated by Teekay for 28 years in the North Sea and is now destined for the Atlanta Field in Brazil.
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U.S. Drillers Cut Rigs for Second Week in Three
U.S. energy firms cut oil rigs for a second week in three, data showed on Friday, with drillers cutting spending plans in reaction to declining crude prices. Drillers cut five oil rigs in the week to Aug. 18, bringing the total count down to 763, General Electric Co's Baker Hughes energy services firm said in its report on Friday.
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Fire Out at Dalian PetroChina Refinery
A fire that broke out on Thursday at state oil major PetroChina's plant in northeastern China, one of the country's largest refineries…
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PDVSA Prepares to Meet Foreign Debt Commitment
Venezuelan state oil company Petroleos de Venezuela (PDVSA) has initiated bank transfers to meet its foreign debt commitments for the month…
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VA Governor urges Trump to drop VA Offshore Drilling Plan
Virginia Governor Terry McAuliffe urged the Trump administration to exclude his state from a federal offshore oil and gas drilling plan…
Latest news
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Siemens Gamesa to Cut 600 Jobs in Denmark
Wind power group Siemens Gamesa said on Friday it plans to cut 600 staff at a wind blade factory near Aalborg in northern Denmark.
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Norway's Record July Gas Sales Could Lift Statoil Earnings
Norwegian gas sales hit a record July high, boosted by maintenance at British North Sea fields and the need to restock gas storage in Europe…
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BlackRock's Largest Fund Boosts Energy Stakes
BlackRock Inc's largest mutual fund hiked its exposure to "select names" in energy as the sector has lagged this year, one…
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As IOC Books Cargoes, Nigerian October Liftings Mixed
India's IOC booked a total of 4 million barrels from traders Shell and Total, while Nigeria's initial October export plans…
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PDVSA Defends Relationship With Russia
Venezuela's alliance with Russia is "perfect," the president of state oil company PDVSA said on Friday, blasting what he…
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Brazil Extends Oil Industry 'Perks' Through 2040
Brazil on Friday extended through 2040 a preferential customs regime for the oil and gas industry called Repetro, which was set to expire in 2019…
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Mexico Raises Pemex Deductions to Continue Oil Output
Mexico's finance ministry on Friday said state oil company Pemex will be allowed to deduct more costs for developing some…
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Oil Jumps as Dollar Dips
U.S. crude still headed for weekly loss. Oil prices rose on Friday as the stock market strengthened and the U.S. dollar weakened, but U.S.
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Petrobras, Brazil Dispute Transfer of Rights Worth $30 bln
Brazil's government and state-run oil company Petroleo Brasileiro are locked in a dispute over the value of offshore oil…
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Oil Nudges Higher on Tightening Supplies, Weaker Dollar
Deer Park refinery outage supports WTI prices. Oil prices edged higher on Friday, with investors offered some encouragement…
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Energy Capital-led Consortium to buy Calpine Corp
Debt-laden power producer Calpine Corp said it agreed to be acquired by a consortium of investors led by Energy Capital Partners for $5.6 billion.
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Glencore to Start Importing Fuel for Mexico in February
Trading firm Glencore expects to start importing fuel for Mexico's domestic market in February 2018 through its own terminal…
Offshore Oil & Gas
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Topaz Financial Results Ending June 2017
Topaz Energy and Marine has announced its results for the six months ended June 30, 2017. Overall core fleet utilization at 62%…
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Conoco to Dismantle Historic Norwegian Platform
ConocoPhillips has won permission to prepare for the removal of the first permanent oil platform built off Norway more than 40 years ago…
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KBA Europe, Batok Offshore Partner in West Africa
KB Associates Europe Limited KBA(E) has announced a new partnership with the local representative – Batok Offshore and Oil…
Shale Oil & Gas
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Oil Edges Up as U.S. Stocks Fall
U.S. crude oil inventories drop 9.2 mln barrels - API. Oil prices edged up on Wednesday, lifted by declining U.S. crude inventories…
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Oil Slips on Chinese Demand, Rising U.S. Activity
Oil prices fell on Monday as a slowdown in Chinese refining raised concerns about demand in the world's second-biggest consumer…
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North Dakota Oil Production Slips about 1% in June
North Dakota's daily oil production slipped about 1 percent in June amidst tepid crude prices , according to state data released on Friday.
LNG
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Australia Risks Missing Next LNG Wave: Russell
Should the arrival of the last major piece of kit in Australia's $180 billion liquefied natural gas (LNG) spree be a cause…
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Saudi Aramco Mulls Bids to Expand Gas Plant
Saudi Aramco has received bids from international engineering firms to expand the Hawiyah gas plant, industry sources said…
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Wison Granted AIP for Its Innovative Floating LNG Storage
Wison Offshore & Marine announced that it has received Approval in Principle (AIP) from Bureau Veritas for its newly-developed…
Renewables
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Vestas Shares Drop as Price Pressure Increases
Danish wind turbine maker Vestas posted weaker than expected earnings on Thursday and warned of growing price pressures,…
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Germany Awards Licences for Onshore Wind Capacity
Germany will increase its onshore wind energy capacity by more than 1 gigawatt, equal to that of a nuclear plant, under new…
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Dogger Bank Ownership Structure Announced
The ownership arrangements for the four consented Dogger Bank offshore wind projects have been agreed and signed by the three Forewind shareholders…
Technology
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DNV GL to Host Event at Spadeadam Facility
The UK Explosion Liaison Group (UKELG) is to hold its 35th anniversary event at DNV GL’s Spadeadam Testing and research facility, in Cumbria.
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Statoil Set to Drill Its Biggest Arctic Hope
Norway's Statoil will soon start drilling this season's most promising Arctic prospect, Korpfjell, after several disappointing…
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TWMA Wins North Sea Contract with Azinor Catalyst
TWMA, a provider of drill cuttings and slop handling, management and treatment solutions, said it has been awarded a contract…
Legislation
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Gazprom Expects No Changes to Key Projects from New US Sanctions
Gazprom said on Monday that new U.S. sanctions against Moscow would not result in the Russian gas exporter having to make changes to key projects…
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Sierra Club sues US Energy Department
Environmental group the Sierra Club sued the U.S. Energy Department on Monday in hopes of forcing it to reveal the groups…
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Drilling Ship Leaves Vietnam Block after China Row
The drilling ship at the centre of a row between Vietnam and China over oil prospecting in disputed waters in the South China…
