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Oil Exploration Is Ramping Up Off Norway
Oil firms are expected to drill 40-50 exploration wells off Norway this year compared to 36 wells drilled the previous year, the Norwegian Petroleum Directorate said on Thursday.The Norwegian continental shelf still held an estimated 4 billion cubic meters (25.2 billion barrels) of oil equivalents in undiscovered petroleum resources, with two-third
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OPEC Strives for New Deal as Iran Wary of Output Hike
OPEC's leader Saudi Arabia and Russia were trying on Thursday to convince fellow oil producers to raise output from July to meet rising global demand, with Iran still signalling it would support only a modest increase in supply.The Organization of the Petroleum Exporting Countries…
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OPEC Reaches Deal to Raise Oil Output
OPEC agreed on Friday to raise oil production by around 1 million barrels per day from July for the group and its allies, an OPEC source said.The output gain is nominal.
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Schlumberger Wins in US Supreme Court on Patent Damages
The U.S. Supreme Court ruled on Friday that companies can recover profits lost because of the unauthorized use of their patented technology abroad in a victory for Schlumberger NV, the world's largest oilfield services provider.The 7-2 decision overturned a lower court's ruling that had enforced limits on applying U.S.
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OPEC Agrees to Modest Oil Supply Hike
OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to help reduce the price of crude and avoid a supply shortage.However, the decision confused some in the market as OPEC gave opaque targets for the increase…
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Hess Warns Focus on Returns Now Will Hurt US Shale Long-term
Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital…
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Equinor Announced Partnership with Microsoft
Equinor partners with Microsoft for cloud services delivered from new cloud data centers in NorwayAs part of a strategic partnership agreement…
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ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the…
Latest news
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Enterprise Adds Vessel Fueling Capabilities at Houston
Enterprise Products Partners, as of June 1, 2018, is the exclusive provider of residual marine fuel (RMG 380) and marine…
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Seacrest Capital Seeks More Norway, UK Oil Deals
Oil and gas-focused private equity firm Seacrest Capital is planning more offshore deals in Norway after buying stakes in two fields from Royal Dutch
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Fronius Updates its Welding Systems Portfolio
From the automotive and component supply industry to machine and plant construction, and also the oil and gas industry: mechanized…
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LNG to Benefit Philippines, Says ADB Energy Expert
The Philippines stands to benefit from introducing liquefied natural gas (LNG) to support power generation and making it part of its energy mix…
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Thick Sea Ice Blocks Exports from Yamal LNG Plant
Thick sea ice is impeding Arctic shipments of liquefied natural gas (LNG) from Russia's newly-built export plant in Yamal…
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Predictive Software to Optimize FPSO Maintenance
A new test project in Norway looks to employ specialty software for the optimization of floating production storage and offloading…
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Norway Oil Workers Threaten to Strike
Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this su
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Oil Traders Ready for Musical Chairs as China Tariffs Loom
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S.
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Shell Sells $1.3 Billion of Oil and Gas Assets
Royal Dutch Shell announced the sale on Wednesday of oil and gas assets in Norway and Malaysia for over $1.3 billion, bringing it closer to a target o
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Russia's Novatek, S.Korea's Kogas Sign LNG Agreement
Russian energy company Novatek and South Korea's state-run Korea Gas Corp (KOGAS) signed an agreement on liquefied natural…
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Top Shallow Water Driller Raises $225 Mln in Oslo IPO
Shelf Drilling, a Dubai-based contractor for shallow water rigs, raised about $225 million by issuing new shares priced at…
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Croatia Reopens Bidding for LNG Terminal Capacity
LNG Hrvatska launched a second round of bidding for potential operators of an offshore liquefied natural gas (LNG) terminal…
Offshore Oil & Gas
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Iraq, Exxon End Talks on Water Treatment Project
Iraq is no longer in talks with Exxon Mobil Corp for the oil major to build a giant water treatment facility vital for the OPEC member to grow its oil
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Total's North Sea Oilfield Workers Hold Strike Ballot
Britain's biggest labour union is balloting rig workers at three of Total's North Sea oil platforms over a potential strike…
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Macron Approves Offshore Windpower Projects
Leading executives at French energy groups EDF and Engie said on Twitter that several offshore windpower projects had been "confirmed" by President Em
Shale Oil & Gas
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Oil Falls as OPEC Nears Deal to Raise Production
Oil prices fell on Thursday as crude exporters in OPEC appeared to be nearing a deal to increase production.Benchmark Brent…
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Venezuelan PDVSA's Exports Sink in June
Venezuelan PDVSA's oil exports declined 32 percent in the first half of June compared with May, according to internal trade…
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Enterprise Expects to Load First Supertanker at Texas Port This Month
Seaway Crude Pipeline Company LLC, a joint venture between Enterprise Products Partners LP and Enbridge Inc, plans to load its first supertanker this
LNG
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Russia's Novatek, S.Korea's Kogas Sign LNG Agreement
Russian energy company Novatek and South Korea's state-run Korea Gas Corp (KOGAS) signed an agreement on liquefied natural…
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LNG Imports Climb at CNOOC's Zhejiang Terminal
CNOOC's Zhejiang terminal will receive 5 million tonnes of liquefied natural gas in 2018 up from 3.58 million tonnes last year, CNOOC Gas and Power Co
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GasLog Partners Signs New Charter Agreement with Cheniere Energy
GasLog Partners announced that it has entered into a new multi-year time charter for the GasLog Sydney with a wholly owned…
Renewables
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China Ramping Up Renewable Power
China will ramp up electricity generated by renewable energy this summer and give priority to residential use as some regions…
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Norway Wants to Build Floating Wind Farms
Norway's energy minister will meet with companies on Wednesday to discuss the potential construction of offshore floating wind farms…
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New Hires Boost RCG US Team
The Renewables Consulting Group (RCG), has announced the appointment of several new hires in its New York office to support…
Technology
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US Announces $18.5 Mln for Offshore Wind Research
The U.S. Department of Energy (DOE) announced today that $18.5 million has been made available for offshore wind research…
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GTT Studying Gravity Based Systems for LNG Projects
French engineering company GTT said it has been assigned by two major companies to carry out Front End Engineering Design…
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New Clamp Technology for Subsea Well Intervention
New clamp technology developed by RED Engineering promises to improve subsea well intervention operations.The two, first…
Legislation
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US Oil Pipeline Companies, Producers Seek Relief from Steel Tariffs
Major U.S. energy companies including Plains All American Pipeline, Hess Corp and Kinder Morgan Inc are among many seeking…
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Scottish Government Wins Fracking Case Against Ineos
Scotland's highest court has ruled in favor of a government ban on fracking which had been challenged by energy giant Ineos…
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Asian Shares, Oil Fall as US-China Trade Spat Escalates
Asian shares fell to a 2-1/2 week low on Monday after U.S. President Donald Trump cranked up trade tensions by going ahead…
