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Odfjell Drilling to Expand Fleet
Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said on Friday, the latest sign of recovery in the energy industry.After cuts in exploration spending following an oil price plunge that began in 2014, energy firms are…
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US Drillers Add Oil Rigs for Third Consecutive Week
U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices near three-year highs.Drillers added five oil rigs in the week to April 20, bringing the total count to 820, the highest level since March 2015…
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Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High!
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Petrobras March Production Dips
Petrobras reports that, in March its total production of oil and gas, including natural gas liquids (NGL), was 2.66 million barrels of oil equivalent per day (boed), with 2.56 million boed produced in Brazil and 99 thousand boed produced abroad. Total production operated by the company (Petrobras and partners’ share) was 3.31 million boed…
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Petrobras starts production of Búzios field, Santos Basin
Petrobras started (20/4) the production of the Búzios field, in the pre-salt of the Santos Basin, through the platform P-74. Búzios is the first field in production under an Onerous Assignment regime. The P-74 is located about 200 km off the coast of the state of Rio de Janeiro, at a water depth of 2…
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GE Profit Tops Estimates
General Electric Co posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and…
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Shell Active in Mideast, Russia Crude Liftings
Oil major buys various grades from Qatar, UAE, Russia; re-sells Qatar Marine and Sokol. Royal Dutch Shell has snapped up…
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Asia's Gasoline Glut Drags on Refining Margins
Asia's gasoline crack on Thursday hit lowest since 2016; recent high refinery throughput countered maintenance season. Gasoline…
Latest news
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Novatek: Yamal's First Train Plans Maintenance in May
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Newbuild Kreuz Challenger Mobilized for Brunei Shell Contract
Subsea services company Kreuz Subsea has mobilized the recently delivered newbuild dive support vessel, Kreuz Challenger…
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Semco Maritime Generated Positive Operating Results in 2017
Semco Maritime’s revenue shrunk to DKK 1,408 million in 2017 against DKK 1,598 million in 2016 as the offshore services provider…
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Belgium to Double Offshore Wind Energy Capacity
Belgium will double the area of its North Sea waters made available to offshore wind parks after 2020, the government announced on Friday…
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Schlumberger Profit Surges on Higher Oil Prices
Oilfield services provider Schlumberger NV reported an 88 percent rise in quarterly profit on Friday as rising crude oil…
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Baker Hughes Profit Beats on Oilfield Services Growth
Baker Hughes, the oilfield services company controlled by General Electric, posted a quarterly profit that beat Wall Street…
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Trump Administration Mulls Opening Alaska Refuge to Drilling
The Trump administration this week will begin the environmental review process for oil and gas drilling on a section of the…
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Freeport LNG Delays Start of Texas Export Terminal
Freeport LNG, a privately held U.S. liquefied natural gas company, said on Thursday it pushed back the projected start date…
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Commodities Ride Rollercoaster on $100 Oil Talk
Oil highest in over 3 yrs on report Saudis want higher prices; nickel sees biggest jump in 6-1/2 years on sanctions worries.
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To Frack or Not to Frack? Australia's NatGas Dilemma
The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural…
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Life Extension for FSO Njord Bravo
Statoil, on behalf of the Njord license, awarded a NOK 1.3 billion ($168 million) contract to Aibel to upgrade the Njord…
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Golar LNG Enters Preliminary Deal for BP FLNG
Golar LNG Limited announced it has entered into a Preliminary Agreement and exchanged Heads of Terms (HoT) for an FLNG vessel…
Offshore Oil & Gas
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BP, Reliance Move Ahead in Deep Water
BP and Reliance Industries Limited (RIL) today announced the sanctioning of the ‘Satellite cluster’ project in Block KG D6.
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Eni has no plans to pull out of Rosneft deal after sanctions
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Post-Bankruptcy, Seadrill Eyes Closer Oil Service Ties
Offshore oil driller Seadrill aims to expand relations with Schlumberger, the world's largest oil services firm, and other…
Shale Oil & Gas
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BP to Keep Carbon Footprint Flat into 2025
BP to reduce CO2 emissions by 3.5 mln tonnes per year by 2025 even as it plans to sharply increase oil and gas output in coming years.
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Vermilion Energy to Acquire Spartan Energy
Oil and gas producer Vermilion Energy Inc said it would buy rival Spartan Energy Corp for about C$1.40 billion ($1.11 billion).
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IEA: "mission accomplished" for OPEC as Oil Stocks Shrink
IEA says stocks could reach five-year average by May; OPEC still planning to extend supply cuts into 2019. OPEC and its allies…
LNG
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LNG exits Fisherman’s Landing Project
Liquefied Natural Gas Limited executed a Share Sale Agreement (the Agreement) with a third-party (the Buyer) for the acquisition…
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Chevron Greenlights Gorgon LNG Expansion
Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest…
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Papua New Guinea LNG Project Resumes Exports
A liquefied natural gas (LNG) tanker has left Papua New Guinea laden with the first export cargo of the supercooled fuel…
Renewables
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OutSmart, Kongsberg Join Forces on Wind Energy
Independent wind asset operations management specialist OutSmart BV has selected Kongsberg Digital AS to provide an integrated…
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Fortum Contracted to Raise Finland's Solar Power Capacity
Finland's Fortum, a majority state-owned utility company, won a tender to increase Finland's total solar production capacity by nearly 30 percent…
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Eneco seeks new CEO as Privatization looms
Eneco, the Dutch energy company on the verge of being privatized, is looking for a new chief executive to replace Jeroen…
Technology
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Flintstone Sets Its Sights on Floating Wind
Flintstone Technology Ltd said it plans to diversify its mooring operations to help drive down costs for the offshore floating…
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Partners Aim to Improve Riser Performance and Efficiency
Trelleborg said its offshore operation has signed a supply and license agreement with Reel Power Oil and Gas to collaboratively…
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ConocoPhillips' Alaskan Venture a Success
ConocoPhillips announced it has concluded its 2018 winter exploration and appraisal program in Alaska. The company’s original…
Legislation
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Petrobras to Shed Selected Refinery Stakes
Brazil's state-run oil company Petroleo Brasileiro SA is considering selling 60 percent stakes in two regional blocks comprising four refineries…
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Noble Amends Restructuring Plan, Scrambles for Shareholder Support
Noble's action on shareholders was criticised by SGX; Noble needs shareholders to support its restructuring. Bowing to criticism…
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Greece Launches Tender to Shed Hellenic Petroleum Stake
Greece on Wednesday launched an international tender to sell a majority stake in Hellenic Petroleum as part of its third international bailout.
