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S.Korean Refiners Step Up U.S. Spot Crude Purchases
S.Korean refiners step up spot crude purchases; Mideast crude make up 77.7 pct of imports, lowest since 2004. South Korea's purchases of sweet crudes from the United States and Africa are growing as its refiners snap up spot cargoes to replace more expensive Middle East grades, multiple sources from the country's oil industry said on Friday.
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U.S. Gasoline Prices Rise Ahead of Driving Season
Filling the fuel tank for vacation driving this summer will be pricier than it has been in nearly four years for American motorists, as gasoline prices nationwide rise toward the expected average seasonal price of $3 a gallon. Lower-income consumers could be most likely to rethink their driving habits as pump prices rise…
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LNG Prices Firm on Chinese, South Korean Demand
Spot price highest in more than 3 months. Asian spot liquefied natural gas (LNG) prices breached the $9 per million British thermal unit (mmBtu) mark this week, a three-year summer season high driven by crude oil gains, production outages and demand from key Asian consumers. Spot…
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U.S. Drillers Robustly Boost Rig Count
U.S. energy companies added the most oil rigs in both a week and a month since February as drillers continued to return to the well pad with crude prices at their highest since late 2014. The total oil rig count rose by 15 to 859 in the week to May 25, the highest level since March 2015…
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Subtropical Storm Alberto's Landfall Expected Early Next Week
U.S. Gulf of Mexico producers and refiners are monitoring Subtropical storm Alberto, which is expected to make landfall between east Louisiana and the Florida panhandle early next week, the companies said on Friday. The National Weather Service on Friday predicted the storm would…
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NOCS: Expedition to Investigate Carbon in the Benguela Upwelling
On May 2018 the Royal Research Ship (RRS) Discovery will begin an ambitious science expedition to the South Atlantic to study…
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China Could Meet Emissions Pledge Earlier Than Expected
China emissions could peak before 2030. China's top climate envoy on Wednesday said the country could meet its pledge to…
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Sinopec to Boost U.S. Crude Imports
Sinopec, Asia's largest refiner, will boost U.S. crude oil imports to an all-time high as part of efforts by China to reduce…
Latest news
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Pennsylvania Halts ETP Sunoco Mariner East Pipeline Again
An administrative law judge for the Pennsylvania Public Utility Commission (PUC) granted a request to stop construction on…
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China Opening May Spark Iron Ore Markets
In the relatively short space of the past decade the paper iron ore market has grown from virtually nothing to exceed the physical market…
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Total to get 10 pct in Russia's Arctic LNG-2 Project
French energy major Total will get a 10 percent stake in the future Arctic LNG-2 project led by Novatek, Novatek Chief Executive…
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North Sea Crude-Forties Bid for First Time this Week
Buying interest for North Sea Forties crude reappeared in the trading window on Thursday for the first time this week, but…
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Shell Makes Large Heartland Discovery in GoM
Shell Offshore, Inc. (“Shell”) has announced a large, deep-water, exploration discovery in the Norphlet geologic play in the U.S.
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DP Assurance Software Delivered to SolstadFarstad
Global Maritime, a leading marine, offshore and engineering consultancy, and Unisea, a software and consultancy house with a dedicated shipping focus…
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Russia's Novak Says Oil Production Curbs Could Be Eased
Russian Energy Minister Alexander Novak said on Thursday restrictions on oil production could be eased "softly" if OPEC and…
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Aquaterra Promotes Larnder, Morrison
Aquaterra Energy announced two senior management promotions. George Morrison becomes Group CEO of parent company Aquaterra Energy Group…
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Oil Slips Further as Focus on OPEC Mounts
U.S. crude, gasoline inventories rise unexpectedly as Brent-WTI spread nears widest margin in three years. Oil prices recorded…
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Valero Boosts Imports of Venezuelan Oil as Sanctions Loom
U.S. refiner Valero Energy Corp this year boosted its imports of Venezuelan crude ahead of U.S. sanctions over the country's…
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Concordia Boosts Tanker Biz
To prepare for a gradually strenghthening tanker market, Concordia Maritime decided to participate in three suezmax tankers…
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LyondellBasel Valued Braskem at $11.4 billion
LyondellBasell Industries has valued Brazilian petrochemical company Braskem SA at 41.5 billion reais ($11.4 billion) in…
Offshore Oil & Gas
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In Vote of Confidence, Oil Firms Mop Up New North Sea Blocks
The UK Oil and Gas Authority (OGA) on Wednesday awarded 123 licences to 61 companies to explore for and develop new fields in the North Sea…
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Peru's Vizcarra Repeals Tullow's Offshore Oil Contracts
Peruvian President Martin Vizcarra passed a decree that repealed five offshore oil contracts that his predecessor had awarded…
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BP to Cut 3% of Jobs in Upstream Business
British oil giant BP Plc plans to cut 3 percent of jobs in its exploration and production as part of a restructuring of its…
Shale Oil & Gas
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Oil Falls, OPEC Supply Worries
Oil benchmarks fell on Wednesday after an unexpected build in U.S. crude and gasoline inventories despite strong demand,…
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U.S. Crude, Gasoline Inventories Rise Unexpectedly - EIA
U.S. crude oil stockpiles climbed unexpectedly last week as net imports jumped, while gasoline stocks also posted a surprise build…
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Austria's OMV Stands by Iran Project - Upstream Chief
Austrian energy group OMV said on Tuesday it had not halted its planned Iranian energy projects despite the U.S. withdrawal…
LNG
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India's GAIL Turns to Spot and Short-term LNG Deals
Indian gas utility GAIL (India) has switched its focus to short-term and spot deals for the purchase of liquefied natural…
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Wärtsilä LNGPac Passes Milestone
Wärtsilä’s Fuel Gas Supply Systems passed a significant milestone with the 100th order being booked. Two new shuttle tankers…
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US LNG Projects Buoyed by China Import Talks
China's interest in reducing its trade surplus with United States through increased energy imports could advance plans for U.S.
Renewables
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Suzlon Energy Wins Approval to Build Wind Farm in Bosnia
The Bosnian unit of Indian renewable energy developer Suzlon Energy on Wednesday won the right to build a 25.2 megawatt (MW)…
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Cryptocurrency May Light Up Renewable Energy in Moldova
Moldova, a small, landlocked country in eastern Europe, imports three-quarters of its energy and has seen its energy prices…
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Vestas Buys Majority Stake in Swedish Wind Farm
Swedish utility Vattenfall has brought Danish turbine maker Vestas and pension fund PKA onboard as shareholders in what will…
Technology
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Acciona Gets DNV GL Certification
Acciona Energia, the biggest global operator exclusively in renewable energies, received the first ever prototype certificate…
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Op/Ed: Connecting to the Future of Offshore
120 miles out at sea, 6,000-horsepower devices lift drilling equipment weighing up to 3 million pounds out of holes lying 10…
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ABS Issues First MPD-rReady Notation
ABS announced it has awarded the world’s first Managed Pressure Drilling (MPD) – Ready Notation to Ocean Rig for the ABS…
Legislation
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Shell: Nigeria's Bonny Light Still Under Force Majeure
Royal Dutch Shell said on Wednesday a declaration of force majeure remained in place on shipments of Nigerian Bonny Light crude oil…
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UN Seeks Traders' Help Enforcing North Korea Sanctions
A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap…
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New Rules on Ship Emissions Herald Sea Change for Oil Market
New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil…
