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Mexico Plans $3.6 Bln Relief for Pemex
Mexico's government will inject $3.6 billion into ailing state-owned oil company Pemex, including by reducing taxes paid, company officials said on Friday, a move aimed at improving the firm's balance sheet and preventing a further downgrade to its credit rating.Formally known as Petroleos Mexicanos…
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Equinor Lines Up Floating Wind in S.Korea
Equinor and South Korea's state-owned National Oil Corporation (KNOC) will explore opportunities to develop commercial floating offshore wind farms in South Korea, the Norwegian company said on Friday.South Korea aims to reduce its dependence on nuclear and coal power, targeting an increase in the share of renewable energy to 20 percent by 2030, co
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US Oil Rallies as Exporters Trim Production
U.S. oil prices rose on Friday, gaining for a fourth day on hopes of further supply cuts by major exporters, despite uncertainty about U.S.-China trade talks.U.S. West Texas Intermediate (WTI) crude futures were at $54.79 per barrel at 0038 GMT, up 40 cents, or 0.7 percent, from their last settlement.
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Anadarko Nearing FID for Mozambique LNG
U.S. independent energy producer Anadarko moved closer to a final investment decision (FID) to build a giant liquefied natural gas (LNG) terminal in Mozambique after signing up an Indian buyer for the gas and saying another deal was imminent.Anadarko and Exxon Mobil are expected to…
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US Rig Count Climbs
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels.Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857…
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GasLog: LNG Demand Grew 9% in 2018
Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018…
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Chevron in LNG Supply Deal with GS Caltex
American multinational energy corporation Chevron signed a new sales and purchase agreement with South Korean oil refiner…
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India, China to Lead Rapid Growth in Energy
The major chunk of global energy supply growth is expected to come from renewables and natural gas over the next two decades…
Latest news
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EIA: Azerbaijan Surges in Natural Gas
Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets…
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Oil & Gas M&A Deal Value Up in 2018
Global oil and gas total deal value increased by US$ 79.7b during 2018 to reach US$426.8b, despite a decrease of 18% in deal volume…
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Petrobras Will Pay to End Whale Park Dispute
Brazil state-run oil firm Petroleo Brasileiro SA said on Thursday it had concluded a long-running dispute with the country's ANP petroleum regulator,
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Eni Quarterly Profit Jumps 55%
Italian oil company Eni beat expectations with a 55 percent jump in fourth quarter profit as higher prices, mainly gas, offset…
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Saudi Aramco, Total in USD1bln Pact
Saudi Aramco and Total hasve signed a joint venture agreement to develop a network of fuel and retail services in Saudi Arabia.The…
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Offshore Wind Players Bid to Supply NY
Several offshore wind players have submitted separate bids to supply New York with power from planned projects off the coast…
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Yinson Tallies Layang FPSO Contract
Floating production, storage and offloading unit (FPSO) provider Yinson announced Thursday it has received a letter of award…
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Norway's Snow Crab Ruling Boosts Oil Claim
A court delivered a painful nip to European Union fishermen on Thursday by tightening Norway's grip on snow crab catches in the Arctic…
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Aker Energy Eyes IPO
Norwegian oil company Aker said on Thursday that its exploration start-up in Ghana will submit development plans to Ghanaian…
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Sentinel Midstream Mulls Offshore Terminal
Dallas-based oil and gas company Sentinel Midstream is planning to develop a deepwater crude oil export terminal, located near Freeport, Texas.
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Consortium Buys Veja Mate Offshore Wind
A consortium led by asset manager Commerz Real AG, WPD Invest, KGAL and IKEA franchisee Ingka Group will acquire an 80% stake…
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BOEM Plans Gulf of Mexico Lease Sale in March
The U.S. Bureau of Ocean Energy Management (BOEM) said it will offer all available unleased areas in federal waters of the…
Offshore Oil & Gas
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Video: FPSO Travels from China to Brazil
Dutch firm Boskalis transported the 90,000-ton FPSO P-67 from Qingdao, China to Rio de Janeiro, Brazil, aboard the semi-submersible…
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Europe Offshore Wind Capacity Up 18% in 2018
Europe installed a total of 2.6 gigawatts (GW) of new offshore wind capacity in 2018, an 18% increase which takes the region…
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Equinor Drills Dry Well in the Barents Sea
Norwegian energy company Equinor has come up dry in the drilling of its first wildcat well in production licence 857 in the…
Shale Oil & Gas
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Oil Rises After Saudi Pledge, Declining U.S. Inventories
Oil prices rose on Wednesday after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production…
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Occidental Petroleum Profit Jumps
Occidental Petroleum Corp on Tuesday reported a quarterly profit that beat analysts' estimates, helped by a surge in Permian…
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Oil Up On Saudi and OPEC Cuts
Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass…
LNG
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Pluto LNG Facility Resumes Full Output
Woodside Petroleum's Pluto liquefied natural gas (LNG) facility has resumed full output after a brief outage last week, a company spokeswoman said on
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Oceanic Breeze Brings LNG to Japan
Japanese energy company INPEX Corporation announced that the LNG Tanker Oceanic Breeze called for the first time at INPEX’s…
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Roll Group Completes at Elba Island LNG
Heavy lift specialist Roll Group said it has completed its activities on the expansion of the LNG plant at the Elba Island project in Savannah…
Renewables
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Kvaerner to Study Floating Wind Structures
Norway based Kvaerner said it has signed a contract with Norwegian energy company Equinor to study how floating concrete…
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High-tech Buoy Launched in New York Bight
A high-tech, specialized buoy has been launched to collect useful information for developing wind farms offshore the U.S.
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Blockchain to Track Sustainable Biofuel
Japanese shipping company NYK, global mining company BHP, green biofuel company GoodFuels and the developer of blockchain…
Technology
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HHLA Support Energy Transition
German logistics and transportation company Hamburger Hafen und Logistik AG (HHLA) and its partners began research and development…
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New Design for Liquid Hydrogen Bunkering Vessel Unveiled
Design and engineering services company Moss Maritime has, in cooperation with Equinor, the global maritime industry group Wilhelmsen and DNV GL…
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Adnoc Fleet Slashes Carbon Emission 23%
Adnoc Logistics & Services (Adnoc L&S) announced that it has reduced fuel consumption and carbon emissions by 23% across…
Legislation
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Lundin Buys Stakes in Rolvsnes, Goddo
Lundin Petroleum, Europe's independent oil and gas exploration and production company with operations focused on Norway,…
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UK Decommissioning Tax Relief Estimate in Question
Britain's public spending watchdog on Friday questioned a government estimate of 24 billion pounds ($31 billion) as the cost…
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Petrobras Receives Unfavorable Tax Ruling
Petroleo Brasileiro SA (Petrobras) has received an unfavorable ruling from a tax court in a 1.7 billion reais ($445.70 million) dispute involving corp
