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Germany: 900 MW of New Offshore Wind in 2017
Industry groups want higher long-term expansion targets; say latest auctions prove costs coming down. Germany connected 626 megawatts (MW) of newly built offshore wind capacity to power grids in the first six months of this year and expects to see total installations of 900 MW in the full year…
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PetroChina Unloads First US SPR Cargo
PetroChina is this week unloading the first Chinese purchase of crude oil from U.S. strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources. The move comes as China, the world's No.2 oil consumer, steps up imports from the Americas to diversify supply sources.
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Schlumberger to Acquire Majority Stake in Eurasia Drilling
Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV. The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial…
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S.Korean Rule Change to Allow Blending, Enhanced Regional Trading
S.Korea to allow traders to blend fuels at oil terminals; new regulation to be implemented from Oct 18. South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No. 5 crude importer bolsters an effort to become a North Asia trading hub.
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Global LNG Deals Set Bullish Tone as Peru Export Halt Tightens Market
Asian spot LNG prices stepped higher this week, shrugging off months of weakness, as Royal Dutch Shell replaced lost output from its Peru plant via spot markets and as a flurry of higher-priced deals surprised traders. Peru's liquefaction plant suspended loadings for several weeks without explanation…
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Tanker with Disputed Kurdish Oil Reappears off Malta
The Neverland tanker has reappeared off the coast of Malta after going off radar near Canada on June 30, when it was chartered…
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US Fines Exxon Mobil Over Ukraine-related Sanctions Violations
The U.S. Treasury Department on Thursday announced a civil penalty against Exxon Mobil Corp and its U.S. subsidiaries for…
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Trade Flows Eliminate US Gasoline Surplus
The U.S. gasoline surplus has disappeared thanks to a sharp drop in prices which has caused imports from Europe to slow and…
Latest news
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New Oilfield Comms Products from Moog Focal
Moog Focal has introduced the Quad Serial Server (QSS) module, which combines a 4-channel serial server with integrated 3…
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Oil Falls as OPEC Compliance Crumbles
OPEC July production to rise 145,000 bpd - Petro-Logistics. Oil prices fell on Friday after a consultancy report forecast…
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Malta Maritime Forum Targets Professional Education
The Institute of Chartered Shipbrokers and the Malta Maritime Forum have signed an MoU which will support the education of…
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Oil Steady as Fuel Stock Dip Fuels Demand Hopes
Big drop in gasoline, diesel stocks lifts refinery margins. Oil prices were steady on Thursday, holding gains made the previous…
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S.Korea to Ease Local Blending Rules
S.Korea to allow traders to blend fuels at oil terminals; planning to nearly double storage to 60 mln barrels by 2026. South…
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Subsea Industries Introduces Ecolast Coating
Subsea Industries has launched Ecolast, the latest member in its range of coating systems. This product is UltraViolet (UV)…
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Activists Protest near Oil Rig in Norway's Arctic Sea Area
Environmental activists protested on Friday near an offshore rig contracted by Statoil in the remote Norwegian Arctic, where…
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Encana Smashes Profit Estimates
Canadian oil and gas producer Encana Corp on Friday posted a quarterly profit that handily beat estimates and the company…
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Glencore in talks with Canadian pension fund on royalties JV-sources
Mining giant Glencore Plc is working with a Canadian pension fund to create a standalone 50:50 joint venture for its portfolio of royalty assets…
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Saudis Curtail Crude Flow to United States
Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain…
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Brent Oil Climbs Above $50 for First Time Since Early June
Brent crude oil rose above $50 per barrel for the first time since early June on Thursday, adding to gains made the previous session when falling U.S.
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China Moves to Ease State Oil Majors' Grip on Storage
Beijing on Wednesday issued a draft of new regulations for China's growing oil and fuel storage industry, helping loosen…
Offshore Oil & Gas
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CGG Wins Petrobras Data Processing Contract
CGG said it was awarded a contract from Petrobras to process the seismic data from a 3D Ocean Bottom Node (OBN) survey covering a full-fold area of 2…
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LiDAR Technology for Wind Measurement
Wind measurement experts gathered in London claimed that LiDARs have been replacing met masts to become the sole wind measurement…
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Nature Group Wins Maersk Oil North Sea Contract
Oil, gas and maritime waste collection and treatment company Nature Group has secured a five-year contract with Maersk Oil in the Central North Sea.
Shale Oil & Gas
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U.S. Uncompleted Well Backlog Looms over Market
U.S. oil and gas exploration and production companies are drilling new wells faster than they can be fractured and hooked up to gathering systems…
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Oil Edges Up as U.S. Drilling Slows
U.S. drilling growth slows but rig count still high; China's refiners process near record amounts of crude. Oil edged up…
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Australian Group to Raise Money for Israel Shale Oil Project
Israel's REM Energy partnership issued a prospectus on Wednesday for an offering on the Tel Aviv Stock Exchange to raise…
LNG
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Qatar Seeks to Open New LNG Markets with Floating Terminals
Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets…
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Naftogaz to Sign Gas Deals with Vattenfall, Trafigura
Ukraine's Naftogaz plans to sign natural gas purchase agreements with Trafigura Trading (Europe) Sarl and Vattenfall Energy…
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Saipem Looks to Novatek's Arctic LNG 2 Project Role
Italian energy contractor Saipem is expected to get a contract to build gravity-based platforms to liquefy natural gas at the Arctic LNG 2 facility…
Renewables
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Wind, Solar Do Not Harm Power Grid Reliability -Draft US Study
The growth of renewable power, including wind and solar, has not harmed the reliability of the U.S. electricity grid, according to a draft U.S.
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Siemens: At Least Two Turbine Sets Moved to Crimea
Siemens said at least two of four gas-turbine sets it delivered for a project in Russia had been moved to Crimea against its will…
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Omega, Shareholders to Seek up to $425 Mln in IPO
Brazilian renewable power company Omega Geração SA and shareholders aim to fetch as much as 1.4 billion reais ($425 million)…
Technology
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NIMASA Executive Director, 23 Others Bags NSE Fellowship
The Executive Director in charge of Operations in the Nigerian Maritime Administration and Safety Agency (NIMASA), Engineer…
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Partners Evaluating Conversion of Natural Gas to Hydrogen
Statoil, Vattenfall and Gasunie have signed a Memorandum of Understanding (MoU) to evaluate the possibilities of converting…
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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…
Legislation
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French Court Repeals Law on Regulated Gas Prices
France's highest administrative court repealed on Wednesday a law on regulated gas prices, under which about half of France's…
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Ecuador, Shunning OPEC, to Increase Production
OPEC member Ecuador will no longer comply with an agreed OPEC production cut due to the country's financial difficulties…
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SBM Offshore, Repsol Get $247 Mln in Yme Insurance Settlement
Dutch oil industry services group SBM Offshore and Spanish energy firm Repsol will share an insurance payment of $247 million…
