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EXIM Bank Amends Mozambique LNG Loan. Earmarks $1.8B for Offshore Work
The U.S. EXIM Bank has amended its previously approved September 2019 direct loan supporting U.S. exports for the development and construction of the Total-operated LNG project located on the Afungi Peninsula in northern Mozambique.The original scope of the $4.7 billion loan for the…
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Price Drop Triggers Haggling Over Oil and Gas Deals
The collapse in oil prices to 21-year lows has led potential buyers of oil and gas fields to try and renegotiate deals already agreed at higher prices, with the first examples emerging of sellers having their hand forced.At a time when most oil companies are slashing budgets, dividends…
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US Grants Royalty Relief to Hard-hit Drillers
The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks, according to a government database, as the industry seeks help weathering low energy prices.The move shows drillers are taking the government up…
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China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration
China said on Friday it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply and offset the impact of the coronavirus pandemic.In energy announcements on the first day of the parliament…
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Lightning Sparks Fire at Hengyuan's Malaysian Refinery
Hengyuan Refining Company Bhd said on Friday that a tank storing crude oil had caught fire at its refinery on the Malaysian west coast.Preliminary investigations show the fire at the Port Dickson refinery was due to a lightning strike, the company said in a statement."The damages…
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Rystad: Oilfield Services Firms' Market Cap Halved. Offshore Drillers Have it Worst
Oilfield services companies have collectively lost almost half of their market capitalization, hit by the combination of…
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LR’s Nick Brown: Climate Emergency is “same magnitude, different time domain" to COVID-19
As the maritime industry settles in on a COVID-19 induced ‘new norm,’ and long-range planning is dramatically shortened,…
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Japan Spot LNG Import Prices Hit Record Low
Prices for spot liquefied natural gas (LNG) cargoes imported into Japan, the world's biggest buyer of the fuel, fell in April…
Latest news
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Poland's PGNiG Expects Over 100,000 Tons of Oil from Skogul in 2020
Polish oil company PGNiG said Monday it expects to produce about 115 tons of oil from the Skogul field offshore Norway in 2020.First oil from Skogul…
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Oil Steadies as Demand Uncertainty Tempers Supply Cuts
Oil prices, which have been driven higher for the past four weeks, were steady on Monday, with holidays in Singapore, London…
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India's April Crude Processing in Biggest Drop Since 2003
India's crude oil processing in April slumped by 28.8% from a year earlier, its biggest drop since at least 2003, as a nationwide…
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Lockdown Measures Tightened at Kazakhstan's Karachaganak Gas Field
Kazakhstan has tightened lockdown measures at its biggest gas condensate field Karachaganak after confirming the first case…
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Gas Output to Resume at Israel's Leviathan After Brief Halt
Production at Israel's offshore Leviathan natural gas field will resume in the coming hours after an emergency shutdown on Saturday…
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Trafigura Takes a Bet with North Sea Oil
Commodities trader Trafigura has seized the moment and taken a rare dominant position in the North Sea crude market over…
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Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%
Malaysian state oil firm Petronas posted a 68% slump in first-quarter profit on Friday and said it would cut capital expenditure and operating expense
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innogy Applauds Ireland's Offshore Wind Push
innogy Renewables Ireland, the joint developer of Dublin Array Offshore Wind Farm, has this week welcomed the announcement…
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Qatar Petroleum to Cut Spending by 30%
Qatar Petroleum will slash its spending by around 30% this year in the face of the sharp drop in oil and gas prices due to the coronavirus epidemic…
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Woodside to Boost Vincent Crude Quality to Ride VLSFO Demand
Woodside Petroleum will improve the quality of Vincent crude by increasing its flash point from July so that it can be blended…
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Azerbaijan's Jan-April Oil Output Flat
Azerbaijan's oil and gas condensate output was flat in January-April at 12.4 million tonnes compared with 12.44 million tonnes…
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Oil Price at Highest Since March
Oil rose on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering…
Offshore Oil & Gas
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Denmark, Vietnam Talk Offshore Wind Expansion
Denmark and Vietnam are working on finding ways to further boost Vietnam's offshore wind development, which according to the Danish Energy Agency…
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Vattenfall Taps NGI for Kriegers Flak Wind Farm Monitoring
Swedish wind farm development company Vattenfall has hired Norwegian Geotechnical Institute (NGI) to provide monitoring services…
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Rockhopper Reducing Headcount, Directors' Salaries
Oil and gas company Rockhopper, with a share in the Sea Lion project off the Falkland Islands, has announced a set of cost…
Shale Oil & Gas
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U.S. Oil Firms' Quarterly Reports to Show Depths of Slump
Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report…
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Trump Calls for Plan to Give Money to U.S. O&G Industry
U.S. President Donald Trump called on the federal government to come up with a way to pay out the U.S. oil and gas industry on Tuesday…
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Oil Price Crash, What Next?
A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get…
LNG
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Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts
Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG)…
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Woodside Watching Supermajors' Woes for Opportunities
Woodside Petroleum is keeping a close eye out for assets that might come up for grabs from the oil supermajors amid the oil market rout…
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Inpex Sells Ichthys LNG at Record Low
Inpex sold a liquefied natural gas (LNG) cargo from Australia's Ichthys plant for loading in May at what traders say is a…
Renewables
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U.S. Tops List of Most Attractive Countries for Renewables Investments. Overtakes China
The United States has overtaken China as the most attractive country in the world for renewables investment and the global…
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OWC Sets Up Shop in Japan
International offshore wind consultancy and advisory firm OWC (Offshore Wind Consultants) has said it will set up an office…
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TRIG Buys Share in German Offshore Wind Farm
London-listed The Renewables Infrastructure Group (TRIG) said on Friday it has completed the acquisition of a 36% stake in…
Technology
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Alphabet Winds Down Makani
Alphabet, Google's parent company, announced that it is calling it quits on its efforts to build and monetize its Makani…
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CMA CGM Joins Energy Observer in Hydrogen Project
French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of…
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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…
Legislation
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Sembcorp Begins Proceedings Against Hin Leong Affiliate
Sembcorp Industries on Monday said its Sembcorp Cogen unit had begun legal proceedings to assert ownership over some gasoil…
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BP Issues Force Majeure Notice for Golar FLNG Unit
Golar LNG Ltd said on Tuesday that it received a force majeure notice from a BP Plc unit seeking to delay taking delivery…
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Ransomware: The IT Danger on the Horizon
Two decades into the 21st century, we’re seeing a growing and pernicious threat to global information security: ransomware.
