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Webinar: Floating Production Forecasts & Analysis
A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT).
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US Oil Rig Count Rises for First Week Since March
U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 12th week in a row, although they added one oil rig in the first weekly increase since March as a recovery in crude prices tempt some producers back to the well pad. The U.S. oil and gas rig count…
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US Oil Exports to Europe Rebound
The United States has increased oil supply to Europe in July for the first month since May, making up for output cuts from OPEC+ members, according to traders and Refinitiv Eikon data.U.S. crude supply to Europe reached nearly 31 million barrels in July, according to Refinitiv Eikon data as of July 24.
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U.S. Sends First Crude Shipment to Saudi Arabia in Years
The United States sent a shipment of crude to Saudi Arabia in June, data from the U.S. Census Bureau showed on Wednesday, in what appears to be the first such delivery since the U.S. ban on crude exports ended in 2015.The United States shipped about 550,000 barrels, or 18,300 barrels per day (bpd), of crude to Saudi Arabia in June, U.S.
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Opedal Tapped for Top Spot at Equinor
The Equinor Board of Directors appointed Anders Opedal as its new president and CEO starting November 2, 2020. Eldar Sætre will retire after six years as CEO and more than 40 years in the company.Opedal ascends to the top spot coming from the position as Executive Vice President Technology, Projects and Drilling.
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PipeChina to Buy $56B Worth of Pipelines
China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing…
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Tech File: Hybrid-Electric Propulsion for Crew-less Vessels
The move to autonomy on the world's waterways is undeniable, with the direction clear, the pace hazy. What is clear is the need for reliable…
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Webinar: Floating Production Forecasts & Analysis
A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering…
Latest news
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Woodside Says It's on the Lookout for Acquisitions
Australia's Woodside Petroleum is looking for acquisitions, ideally close to its existing assets or offering it control over assets that are already p
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PDVSA Changes Oil Deals to Include Shipping as Sanctions Bite
Venezuelan state-run oil firm PDVSA has begun offering to ship its own oil, figuring in the costs in crude supply deals to…
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Libya's NOC Warns of Dangers at Oil Ports
The chairman of Libya's National Oil Corp (NOC) on Saturday warned against the risk of a disaster at the country's oil ports…
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Saudi Aramco's Profit Plunges, Sees Signs of Recovery
State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices…
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Equinor's Incoming CEO Wants to Be Best in Offshore Oil, Gas
Anders Opedal, who on Monday was named Equinor's new chief executive, said he wanted the Norwegian oil company to be both…
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Oil Market Stalls as Absence of Signals Compounds Summer Slowdown
Hedge funds' oil trading largely dried up last week as the normal summer holiday slowdown was compounded by an absence of…
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Venezuela's Oil Exports Stagnant in July
Venezuela exported about 388,100 barrels per day of crude and fuel in July, almost unchanged versus the previous month, as U.S.
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Japan's Seven & i to Buy Marathon Petroleum's Speedway Gas Stations for $21B
The Japanese owner of 7-Eleven convenience stores has agreed to buy Marathon Petroleum Corp's Speedway gas stations for $21 billion…
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ConocoPhillips to Reverse Most Output Cuts by End of Q3
ConocoPhillips said on Thursday it expects production curtailments in the current quarter to be roughly half as much as last…
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Pump Tech Focus: Leistritz FlexCore Screw Pump Series
Leistritz Pumpen GmbH is a long and storied name in maritime business, and with its FLEXCORE screw pumps the company claims…
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Total Books $8 Bln Asset Impairments
French energy group Total will book an exceptional impairment charge of $8 billion mainly on its Canadian oil sands and liquefied natural gas projects
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S.Korean Refiners Post Record H1 Losses
Two refiners in South Korea, the world's fifth largest crude oil importer, posted their biggest losses ever in the first…
Offshore Oil & Gas
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Coronavirus Outbreaks Hit Petrobras' Quarterly Output
Coronavirus outbreaks at a number of platforms operated by Brazil's Petrobras hit production in the second quarter, the company said on Tuesday…
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Japan to Develop Offshore Wind Farms at 30 Sites in 10 years
Japan will craft new rules and support infrastructure in a drive that aims to build offshore wind farms at 30 sites during the next decade…
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Safety Product: Magnetic Fall Protection System
Rotterdam-based McNetiq launched a new line of magnetic anchors for fall protection when working at height.The first product…
Shale Oil & Gas
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Shell Restarts Operations in Vaca Muerta Block
Oil company Royal Dutch Shell Plc said on Tuesday it had resumed activities at its Bajada de Añelo block in Argentina's Vaca Muerta area after seismic
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Saudi Oil Price Hike Throws Asian Lifeline to U.S. Shale
Saudi Arabia's decision to jack up the price of its July exports to Asia may have opened the door for U.S. crude oil producers…
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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…
LNG
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Gazprom Neft Sells Its First Arctic Oil Cargo to China
Russia's Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday.This
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Woodside's Revenue Slumps More than Expected
Australia's Woodside Petroleum Ltd reported a worse-than-feared 29% drop in quarterly revenue, hit by weak spot liquefied natural gas (LNG) prices…
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Gazprom Aims to Increase Gas Supplies to China
Russia's Gazprom is committed to supply as much as 130 billion cubic meters of gas (bcm) to China annually in the longer term…
Renewables
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Steelwind Monopile Foundations for Parkwind's Baltic Sea Wind Farm
German construction company Steelwind will build monopile foundations for Parkwind's the Arcadis Ost 1 offshore wind farm in the Baltic Sea…
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UK Gov't Advised to Harness Pandemic to Speed Zero-carbon Aims
From creating jobs in home insulation to hiking dirty fuel taxes and expanding electric-vehicle charging, Britain's government…
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EU Hydrogen Plan Splits Supporters Down Color-coded Lines
Energy industry lobbyists and advocates of renewable hydrogen are divided over whether the bloc should support low-carbon…
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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China Grants Zheijang First Private Fuel Export License
China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private…
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Libya's NOC to Lift Force Majeure at Es Sider Oil Port
Libya's National Oil Corporation (NOC) said on Wednesday that it is ready to lift force majeure at Es Sider oil port, allowing…
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US Approves LNG Exports from Oregon
The U.S. Energy Department on Monday approved the export of up to 1 billion cubic feet per day of liquefied natural gas from…
