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GE to Sell Portion of Stake in Baker Hughes
General Electric Co is selling a portion of its stake in oilfield services provider Baker Hughes, the U.S. industrial conglomerate said on Tuesday, its latest move to raise cash and repay debt.GE, which bought Baker Hughes in July 2017, has made organizational and financial changes to lower its debt and focus on its core businesses of jet engines…
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Oil Majors Spending 'Sweet Spot' to Last to 2020
Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, BlackRock, the world's largest asset manager, said on Tuesday.Oil and gas giants such as Royal Dutch Shell, Chevron and BP are…
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BY THE NUMBERS - Offshore Supply Vessels: Balanced Continued Pressure with Gradual Recovery
Global consulting firm AlixPartners, in a new paper entitled, “Too many ships, too few rigs: why recovery is still a distant dream for the OSV sector,” warns that companies counting on a quick return to stability in the OSV sector are in for a rude awakening.The September report goes…
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US warns sanctions still an option against Nord Stream 2
The United States could yet impose new sanctions to try to block construction of the Russian Nord Stream 2 gas pipeline across the Baltic Sea to the European Union, the U.S. ambassador to the EU said on Tuesday.Asked if Donald Trump could take further measures to thwart a project…
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China LNG Growth Not Slowing -Woodside
China's appetite for liquefied natural gas (LNG) has not slowed, but its purchases have been spread more evenly, avoiding last year's sudden spike to meet winter demand, Australia's top independent LNG producer said on Tuesday.LNG demand from North Asia's main hubs in Japan, China and South Korea has slowed in recent weeks…
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Saudi Aramco CEO says IPO will 'certainly' happen
Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will "certainly"…
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Hedge Funds Enforce Correction to Oil Market's Course
Hedge funds have sold the equivalent of almost half a billion barrels of crude oil and refined products in the last six weeks…
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Total Launches $16 Bln Project Offshore Angola
Africa's second largest crude producer Angola and France's Total officially inaugurated a new deep-sea oil field worth $16…
Latest news
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Oil Slumps to One-year Low
Oil's slide accelerated on Tuesday, with U.S. futures suffering their steepest one-day loss in more than three years due…
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Largest-ever Bismuth Plug Deployed
Metal-to-metal downhole sealing solutions provider BiSN said it recently deployed the largest-ever bismuth plug in the Valhall A-30 well…
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Ca Tam Field to Start Production January 15
Vietsovpetro, a Vietnam-Russia oil joint venture, will start crude oil production at the Ca Tam field offshore southern Vietnam from Jan.
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Sture oil export terminal operates as normal
Norway's Sture oil export terminal was operating as normal on Tuesday despite the nearby sinking of a shipwrecked navy vessel…
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Trump Hopes OPEC Won't Cut Production
U.S. President Donald Trump on Monday said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC…
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Big Oil Spent 1% on Green Energy in 2018
Top oil and gas companies jointly spent around 1 percent of their 2018 budgets on clean energy, but investments by Europe's…
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Digitalization Can Save Upstream Business $73 Bln a Year
Energy firms could save an annual $73 billion within five years in oil and gas exploration and production by making better…
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Sinopec to Boost Gas Supply
Chinese state oil major Sinopec said on Monday it will supply 18.17 billion cubic meters (bcm) of natural gas during the…
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China Becomes Top Natural Gas Importer
China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its…
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Petrobras Starts Production at P-75 Platform
The P-75 floating production, storage, and offloading unit (FPSO) has begun producing oil and natural gas in the Búzios 2…
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U.S. Calls on Hungary and Neighbors to Shun Russian Gas Pipelines
U.S. Energy Secretary Rick Perry called on Hungary and its neighbours to reject Russian gas pipelines which Washington says…
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Start-up of Turkey's $6 bln STAR Oil Refinery Delayed
The commercial start-up of Turkey's new $6.3 billion oil refinery has been delayed until early next year and the plant is…
Offshore Oil & Gas
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EnBW Cuts Renewables Outlook
German energy group EnBW on Monday cut the outlook for its renewables division after low wind and water levels hurt the output…
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Ampelmann Strengthens Foothold in the Middle East
Ampelmann, the global leader in offshore access solutions, has opened its second office in the Middle East in a move to further…
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Belgium Propels Offshore Wind Energy
Northwester 2 in Belgium will be the world’s first offshore wind park to feature the V164-9.5 MW turbine from MHI Vestas…
Shale Oil & Gas
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U.S. Calls on Hungary and Neighbors to Shun Russian Gas Pipelines
U.S. Energy Secretary Rick Perry called on Hungary and its neighbours to reject Russian gas pipelines which Washington says…
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Start-up of Turkey's $6 bln STAR Oil Refinery Delayed
The commercial start-up of Turkey's new $6.3 billion oil refinery has been delayed until early next year and the plant is…
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Oil Down After Trump Urges OPEC Not to Cut Supply
Oil prices fell more than 2 percent on Tuesday after U.S. President Donald Trump put pressure on OPEC not to cut supply to…
LNG
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Gazprom Says Nord Stream Payments Blocked by Swiss Injunction
Gazprom said a Swiss court has issued an injunction blocking payments from the operators of the Nord Stream gas pipeline as part of a legal dispute be
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Golar FSRU Wins LNG Croatia Project
State-owned LNG Croatia has selected Golar Power, a joint venture between Golar LNG and Stonepeak Infrastructure Partners…
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Russian Energy Firms Discuss Cooperation Saudi Aramco Chief
The head of Russian oil giant Rosneft, Igor Sechin, and Saudi Aramco Chief Executive Amin Nasser held talks in Moscow on…
Renewables
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Engie to Invest in Green Gas in France
Isabelle Kocher, Engie CEO, announced that EUR 800 million would be mobilized in the next five years to develop green gases…
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Engie to Finance Brazil Wind Farms with Forward Sales
The Brazilian unit of French gas and power group Engie SA is in negotiations to set up contracts forward-selling wind power…
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Denmark-Netherlands Subsea Power Cable Reaches Dutch Coast
A subsea power line set to link the networks of Denmark and the Netherlands reached the Dutch coast on Friday as part of plans to share excess electri
Technology
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VeChain Inks Blockchain Deal for Chinese LNG Solution
Chinese enterprise blockchain company VeChain announced a deal for a liquified natural gas (LNG) management solution that…
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Tidal Developer Collaboration to Tackle Foundation Mooring
CorPower and Sustainable Marine Energy join forces for a wave and tidal developer collaboration to develop and demonstrate…
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Ampyx Power, NLR to Join Wind Energy Solutions
The Dutch Topsector Energie-TKI Wind op Zee recently awarded a subsidy to Dutch wind energy technology developer Ampyx Power…
Legislation
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Petrobras Resubmits Agreement with CNPC
State-controlled oil company Petroleo Brasileiro SA said in a document resubmitted on Tuesday to Brazil's securities regulator it has signed an agreem
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US Judge Halts Keystone XL Oil Pipeline
A U.S. judge in Montana has halted construction of the Keystone XL pipeline designed to carry heavy crude oil from Canada to the United States…
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Tailwind Completes EOG UK Acquisition
London-based Tailwind Energy has announced the completion of the acquisition of Houston-headquartered oil and gas firm EOG Resources's UK portfolio.
