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China’s Oil Demand Dip is First Since 2009
The near-term impact of the coronavirus outbreak on oil demand remains uncertain as much depends upon when and how China’s manufacturing industry restarts after the currently extended Lunar New Year public holiday.Wood Mackenzie has lowered its oil demand forecast for the first quarter of 2020 by nearly 900…
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India to Buy Russian Crude Oil
Russian oil and gas giant Rosneft has signed a contract with India’s largest fuel retailer Indian Oil Corporation (IOC) for supply of 2 million tonne (MT) crude oil to India by end 2020.The Moscow-headquartered integrated energy company said in a press release that the oil will be…
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Are OSVs Fit for Refit for Offshore Wind?
While it is generally agreed that the nascent offshore wind energy market in the U.S. will be a newbuild market, there is a repair and conversion possibility for some stacked OSVs.Though estimates on the pace of the offshore wind energy market in the U.S. vary widely, the direction…
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NOV Warns Virus Fallout Could Hit Supply Chain
U.S. oilfield equipment supplier National Oilwell Varco on Friday called the coronavirus a "wildcard" in the oil industry's outlook, with an extended outbreak potentially hurting access to Chinese-make materials and foreign sales.The Houston-based company said further shutdowns at…
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Coronavirus Leaves China-bound Tankers Stranded
The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and prompting shippers to seek out other Asian destinations.More than 1,360 people have died from the coronavirus in China…
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BP More than Doubles US Shale Oil Putput in 2019
BP's U.S.
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Coronavirus hits Supertanker Rates
Freight rates for supertankers on the Mideast Gulf and U.S. Gulf routes to Asia have fallen to their lowest since mid-September…
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Canadian Energy Sector to Boost Spending
Capital spending by Canada's oil and gas industry will rise by 6%, or C$1.9 billion, in 2020 from the previous year, halting…
Latest news
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China Cuts Gasoline, Diesel Retail Prices
China announced on Tuesday it would cut retail ceiling prices for gasoline and diesel for the second time in 2020 to reflect…
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MHI Vestas Orders ABB Transformers
MHI Vestas Offshore Wind, the global wind turbine manufacturer, has selected ABB’s Power Grids business to deliver its WindSTAR…
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Gazprom Neft, Mubadala Sign Tech Pact
Gazprom Neft, is the third largest oil producer in Russia, and Mubadala Petroleum (Abu Dhabi, UAE) have entered into a memorandum…
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Nakilat Posts Record Net Profit of $270M
Doha-listed LNG and LPG carrier owner Qatar Gas Transport Company Ltd (Nakilat) reported a consolidated net profit of QR1…
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Chrysaor Backs Mocean Subsea
Mocean Energy, global wave energy player, has teamed up with energy major Chrysaor, subsea energy storage experts EC-OG and…
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Kiel Intros Germany's Largest Shore Power System
The Port of Kiel commissioned Siemens to build Germany’s largest shore power system to date which is capable of supplying…
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Offshore Accounts for 60% of Oil Discoveries
Offshore discoveries accounted for more than 60% of global discoveries in 2019, up significantly on previous years, according…
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Oil Firms to Spend $53Bn at Stabroek Block
Global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade.According…
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Siemens Hands Over BorWin3 to TenneT
The BorWin3 offshore wind grid connection project in the German North Sea has been handed over to the German/Dutch transmission grid operator TenneT…
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TenneT Intros 2GW Offshore Grid Plans
European transmission system operator TenneT has announced plans to build two 2 GW offshore grid connections in the IJmuiden Ver wind energy area…
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Gulf of Mexico Lease Sale Set for March
U.S. Secretary of the Interior David Bernhardt announced that the Bureau of Ocean Energy Management (BOEM) will offer over…
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USA Ups BOEM Offshore Wind Budget
The Trump Administration has proposed a $189m fiscal year 2021 budget for the Bureau of Ocean Energy Management (BOEM), designating…
Offshore Oil & Gas
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Offshore Wind: Half Empty or Half Full?
As a new decade starts, offshore wind development continues to progress. Actually, it’s probably more accurate to write that…
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Offshore to Constitute 25% of Wind Demand
Offshore wind will constitute 25% of total wind demand in 2028, up from 10% in 2019 and will narrow the gap with offshore…
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Triton Knoll Installs Turbines
UK's Able Seaton Port (ASP) has begun latest transformation into multi-million Triton Knoll turbine base.Preparatory works…
Shale Oil & Gas
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Shale Pioneer Hess Says Key U.S. Fields Starting to Plateau
Shale pioneer John Hess said Tuesday that key U.S. shale fields are starting to plateau, calling shale "important but not…
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Iran Oil Minister says China's Virus Impacted Oil Demand
Iranian Oil Minister Bijan Zanganeh said on Monday that the spread of China's new coronavirus had hit oil demand and called…
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Oil Falls as Coronavirus Hits Demand
Oil prices fell on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility…
LNG
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Australia Becomes World's Largest LNG Exporter
Australia has become the largest liquefied natural gas (LNG) exporter in the world. The record figure knocked Qatar out of…
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Total in 10-Year LNG Bunkering Pact with Pavilion
Temasek-owned Pavilion Energy has signed a 10-year fully-termed agreement to jointly develop an LNG bunker supply chain in…
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Total Rejects Force Majeure Notice From Chinese LNG Buyer
French oil major Total has rejected a force majeure notice from a buyer of liquefied natural gas (LNG) in China, a Total…
Renewables
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Iberdrola to Build its Next Wind Farm in Spain
Spanish electric utility company Iberdrola will build its next wind farm in the country at the Herrera Complex, featuring…
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Evergy to Add 660MW Wind Energy
US-based utility Evergy has announced plans to add 660MW of wind energy to its portfolio and reduce carbon emissions by 80% below 2005 levels by 2050.
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Global Wind Capacity to Reach 626 GW
The global wind power industry is expected to install more than 626,800 MW of new capacity over the next decade, said a report.According…
Technology
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Toshiba Delivers Fuel Cell System to Ship
The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the…
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Wilhelmsen, NorSea Join Forces for Hydrogen
The Norwegean global maritime industry group Wilh. Wilhelmsen Holding ASA and Denmark-based supply chain manager NorSea join…
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GEO Installs Ulstein Blue Box in 2 Vessels
The Norwegian ship owner Golden Energy Offshore has decided to install Ulstein Blue Box on two of their vessels.The offshore…
Legislation
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Angola May Seek International Arrest Warrant for Isabel dos Santos
Angola could issue an international arrest warrant for billionaire Isabel dos Santos if she fails to cooperate with a fraud…
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US Extends License for Chevron's Operations in Venezuela
The U.S. Treasury Department on Saturday renewed a license allowing Chevron, the last U.S. energy company operating in Venezuela…
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US Renews Waiver on COSCO's Dalian Tanker Unit
The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese…
