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Saudi Arabia's Tanker Power Play Could Backfire
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That could leave the kingdom stuck with tens of millions of barrels in expensive ships…
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Work from Home: Energy Traders Swap Shouts for Babies, Barking Dogs
SINGAPORE, March 24 -- From banks of screens and giant phones in the office, energy traders worldwide are adapting to a laptop in the bedroom -- and it's going surprisingly well.Working from home has become the new norm in the oil trading hubs of Singapore, London and New York as…
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Oil Up 5% as U.S. Fed steps in to Prop Economy
Oil jumped 5% on Tuesday to above $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.The Fed on Monday rolled out an array of programs including backing for the first time corporate bond purchases. U.S.
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Brent's Fall Creates Steepest Contango in 11 Years
The discount on front-month Brent crude oil futures to later contracts increased to an 11 year high on Thursday, as the coronavirus pandemic continued to cause an unprecedented slump in global demand. The spread on the May to November contracts had widened to as much as minus $10.31 per barrel at 1004 GMT, a level not seen since January 2009.
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Murphy Oil CEO on Medical Leave Due to COVID-19
The CEO of Murphy Oil has taken a medical leave due to coronavirus concerns.The US-based exploration and production company announced Thursday that Roger W. Jenkins will step down temporarily pending test results and a presumptive diagnosis of COVID-19. He is expected to completely recover, the company said.
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Fred. Olsen Windcarrier to Install CFXD Wind Turbines
Fred. Olsen Windcarrier’s jack-up vessel Brave Tern has been awarded a contract to transport and install wind turbines selected…
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Oil, Fishing, Tourism: Alaska Economy Faces Triple Hit from Coronavirus
The U.S. state of Alaska is so far distant from the worst medical ravages of the coronavirus pandemic, but its economy is in critical condition.
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Saipem Inks Deal with Equinor on Floating Solar Farm Tech
Italy's Saipem has reached an agreement with Norway's Equinor to develop technology to build floating solar power farms close to the coast…
Latest news
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FairWind Completes 59 Transition Pieces for Borssele 1+2 OWF
Wind industry solutions provider FairWind has completed its largest electrical and high voltage project in company history…
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Vestas Scores More Offshore Wind Farm Work in Vietnam
Danish wind turbine maker Vestas has won an order to deliver V150-4.2 MW wind turbines to be installed in Vietnam's Mekong…
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Fully Laden LNG Tankers Sit Idle Off Indian Ports after Force Majeure
At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes…
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Equinor Resumes Martin Linge Work, after Coronavirus-linked Halt
Norway's Equinor has restarted work at its Martin Linge development in the North Sea following a haltafter an offshore worker…
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Origin Energy to Defer Shale Drilling in Australia
Origin Energy will defer shale exploration drilling in Australia's Northern Territory until the second half of this year…
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Lekoil 'in Process' of Paying $2M to Optimum
Nigerian oil company Lekoil has said it is in the process of paying $2 million to Optimum Petroleum, its partner in an offshore…
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Libya says Probe of Seized Tanker to Start After Quarantine
Libya's internationally recognized government will start an investigation into a tanker over alleged sanctions-breaking after…
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MOL Poducing Hand Sanitizer to Help Fight COVID-19
Hungarian oil and gas company MOL said it has transformed one of its production facilities at Almásfüzitő into a sanitizer…
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Tidal Power Firm gets Funding from Scottish Gov't
Tidal energy developer MeyGen Ltd has been awarded a £1.545 million grant from the Scottish Government's Saltire Tidal Energy…
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Oil Prices Fall as Demand Woes Eclipse U.S. Stimulus
Oil prices slipped into negative territory on Wednesday as faltering fuel demand from the spread of the coronavirus outweighed a massive pending U.S.
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Indian LNG Importers Issue Force Majeure Notices
Indian liquefied natural gas (LNG) importers have started to issue force majeure notices as domestic gas demand slumps and…
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Ransomware: The IT Danger on the Horizon
Two decades into the 21st century, we’re seeing a growing and pernicious threat to global information security: ransomware.
Offshore Oil & Gas
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Mozambique Army, Islamist Insurgents Battle Near Gas projects
Mozambican troops battled Islamist insurgents in a town in a northern town on Monday close to billion-dollar gas projects…
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Oilfield Services Giant to Cut Spending by 30%
Schlumberger, the world's largest oilfield services company, on Tuesday said it would cut spending by 30% this year from…
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Total Cuts Capex, Mostly in E&P Business
French energy group Total announced plans on Monday to step up cost cuts and suspend its share buyback programme in order…
Shale Oil & Gas
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Shell in Talks to Book Tankers for Crude Floating Storage
Royal Dutch Shell is in discussions to charter at least three supertankers to store around 6 million barrels of crude oil at sea…
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Belarus to Buy Two Tankers of Non-Russian Oil Per Month
Belarus will buy two tankers of non-Russian oil a month, Prime Minister Sergei Rumas was quoted as saying by state news agency Belta on Wednesday…
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IEA Warns Oil Producers Against Playing 'Russian Roulette'
The International Energy Agency Executive Director Fatih Birol said that "playing Russian roulette in oil markets may well have grave consequences"…
LNG
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Sempra to Decide on U.S., Mexican LNG Export Plants in 2020
California energy company Sempra Energy said on Thursday it expects to make final investment decisions (FID) this year to…
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India Set to Import Record LNG Volumes
India is set to import record volumes of liquefied natural gas (LNG) this month, data shows, taking advantage of the super…
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Global LNG Demand to Double by 2040: Shell
Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch…
Renewables
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Ørsted, TEPCO in Offshore Wind JV
Japan's largest power company TEPCO, and Danish offshore wind farm developer Ørsted, have set up a joint venture company.The JV company…
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DEME Installs Second SeaMade Offshore Wind Farm Substation
Offshore installation company DEME has installed the second offshore substation at the SeaMade offshore wind farm in Belgium.In…
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Northland Power Gives Up on Mono Bucket Demo at Deutsche Bucht OWF
Offshore wind farm developer Northland Power has decided to give up on the Demonstrator Project - the installation of two…
Technology
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Alphabet Winds Down Makani
Alphabet, Google's parent company, announced that it is calling it quits on its efforts to build and monetize its Makani…
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CMA CGM Joins Energy Observer in Hydrogen Project
French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of…
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Toshiba Delivers Fuel Cell System to Ship
The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the…
Legislation
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US to Warn Shipping Industry Against Storing Iranian Oil
The Trump administration will soon issue an advisory warning ports, tankers and shipping industry players against storing…
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UKCS Mediation Pilot Launched
UK oil and gas industry regulator Oil and Gas Authority (OGA) has revealed that it has launched a year-long UK Continental…
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Angola May Seek International Arrest Warrant for Isabel dos Santos
Angola could issue an international arrest warrant for billionaire Isabel dos Santos if she fails to cooperate with a fraud…
