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Floating Offshore Wind Turbine Design Passes ABS Review
The American Bureau of Shipping (ABS) has completed the design review of the Front End Engineering and Design (FEED) documentation for the VolturnUS, a floating offshore wind turbine (FOWT), developed by the University of Maine Advanced Structures and Composites Center. “UMaine is…
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US Drillers Cut Most Oil Rigs since January
U.S. energy firms cut the most oil rigs in a week since January as a 14-month drilling recovery stalled due to weak crude prices. Drillers cut seven oil rigs in the week to Sept. 15, bringing the total count down to 749, the least since June, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.
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New Electrical Steam Boiler Module for Aoka Mizu FPSO
Parat Halvorsen AS said it recently secured a contract to design and fabricate a complete, turnkey steam boiler module for the Floating Production & Storage Offshore (FPSO) vessel Aoka Mizu owned by Bluewater Energy Services BV. The FPSO is being decommissioned for the Lancaster project which is owned and operated by Hurricane Energy UK.
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Oil Prices Slip Ahead of Key OPEC Meeting
OPEC meeting in Vienna on Friday as U.S. crude production has reached pre-Harvey storm levels. Oil prices slipped on Thursday, giving up some recent gains before a meeting of oil producers that could extend production limits aimed at clearing a glut in supplies that has depressed the market for more than three years.
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Storms Exposes Shortcomings of Global Refining
Spare refining capacity has been shrinking; capacity utilisation climbing close to limits. Hurricane Harvey's crippling impact on U.S. oil refinery operations this month and the challenge buyers faced in filling the gap in gasoline supplies has exposed a shortage of spare refining capacity around the globe. Nearly a quarter of U.S.
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Sri Lanka in Talks with Chinese Firms for $3 Bln Refinery
Sri Lanka is in talks with two Chinese companies about investing up to $3 billion to build in a new refinery at its Chinese-controlled port…
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Mission Accomplished? OPEC Banishes Contango
“There is no doubt that the oil market is moving in the right direction,” the Organization of the Petroleum Exporting Countries…
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Platts to Publish U.S. Crude Prices in Asia
Platts, Argus vie for U.S.-Asia crude benchmark. Oil pricing agency S&P Global Platts said on Thursday it planned to publish U.S.
Latest news
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Statoil Achieves Climate Target Two Years Ahead of Schedule
Statoil has already achieved its 2015 target of reducing the CO2 emissions from the Norwegian continental shelf by 1.2 million…
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Oil Steadies as OPEC Mulls Next Move
Oil prices were steady on Friday, as investors waited to see whether major producers meeting in Vienna would back an extension…
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Lamprell's Revenue Falls 65 pct, Cuts FY Forecast
Oil rig builder Lamprell Plc reported a 64.7 percent fall in revenue in the first half of the year and cut its full-year forecast…
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Japan Fires Up Biomass Energy as Fuel Shortage Looms
As the sun sets on Japan's solar energy boom, companies and investors are rushing into wood-burning biomass projects to lock…
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OPEC Says Winning Battle to Curb Glut
Producers began cuts in January; deal due to expire in March 2018. Output cuts by OPEC and other oil producers are clearing…
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Total Sells Its Italian Gas Business to UGI
French oil and gas major Total has sold its gas business in Italy, Total Italia Gas, a subsidiary of its Italian joint venture TotalErg…
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SolarCity to Pay $29.5 Mln to Resolve US Gov't Allegations
SolarCity will pay $29.5 million to settle a long-running investigation into allegations it violated federal law by submitting…
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France Approves of Siemens/Alstom Tie-up if Jobs Spared
France has nothing against a potential tie-up between German engineering group Siemens and Alstom if the deal does not bring job cuts…
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KazMunaiGas Kashagan Gets Advance from Vitol
KMGK is using the funds to pay for its 8.48 percent stake in Kashagan, which it acquired in 2008. KazMunaiGas (KMG) increased…
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Statkraft Sells Unfinished Hydropower Plant to Limak
Norwegian utility Statkraft has sold a partially-constructed hydropower plant in Turkey to local conglomerate Limak Holding…
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OPEC, non-OPEC Won't Decide On Oil Pact Extension till Jan
OPEC and other oil producers will not take a decision until January on whether to extend their pact to curb oil production…
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Phillips 66 Partners to buy Phillips 66 Assets
Phillips 66 Partners LP said on Friday it would buy assets from refiner Phillips 66 in a deal valued at $2.4 billion, including debt.
Offshore Oil & Gas
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Aker Solutions Wins Troll FEED Contract With EPCI Option From Statoil
Aker Solutions said it has won a contract from Statoil for front end engineering and design of a module that will increase output at Troll…
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Hopes Lifted for Norway-Scotland Power Cable Project
The prospects for a planned 1.4 gigawatt (GW) power interconnector linking Norway and Scotland have improved following the…
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Mitsui OSK Targets 26% Stake in Swan's Indian LNG Unit
Japan's leading shipper Mitsui OSK Lines aims to buy at least a 26 percent stake in a floating storage regassification unit (FSRU) in India…
Shale Oil & Gas
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Oil on Course for Strongest Q3 since 2004
Brent crude set for Q3 rise of nearly 16 pct. Oil rose was on course for its largest third-quarter gain in 13 years as prices…
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US Shale Sector at Critical Price Threshold: Kemp
Forward U.S. oil prices for 2018 have climbed back above $50 per barrel, a level that should be high enough to stabilise…
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Oil Rises on IEA Optimism
IEA raises 2017 global oil demand growth; says investors sees tighter market, higher oil prices. Oil prices rose on Wednesday…
LNG
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Statoil to Reduce Gas Output Sept 24-25
Statoil's gas output will be reduced by 6.5 million standard cubic metres per day from September 24 at 0600 CET (0400 GMT)…
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Oil Nears Five-Month Highs
Saudi crude exports fell to three-year low in July, as U.S. shale output seen rising for 10th month in October. Oil prices…
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Saipem CEO: Nord Stream II on Track if 'conditions right'
The Nord Stream II pipeline project will go ahead if conditions are right but sanctions may impact on work, the chief executive…
Renewables
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Corbin Joins Sparrows Group as European Director
Sparrows Group has appointed Matt Corbin as its regional operations director for the UK and Europe to support the company’s…
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Triton Knoll Offshore Wind Farm Picks MHI Vestas Turbines
The consortium planning to build Britain's Triton Knoll offshore wind park has chosen to buy 90 giant turbines from MHI Vestas, it said on Monday.
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Shell eyes Asia Moves, Vehicle Recharging Stations
Shell is world's biggest fuel station operator; will focus on downstream earnings as crude price falls. Royal Dutch Shell…
Technology
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Ichthys Explorer Moored off Western Australia
The world’s largest semi-submersible platform, the Ichthys Explorer, has been safely moored in the Ichthys Field, 220 kilometers…
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ABS Awards AIP for HHI FLNG Hull Design
ABS has granted Approval in Principle (AIP) to Hyundai Heavy Industries (HHI) floating liquefied natural gas (FLNG) hull design.
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N-Sea Begins Work in Cameroonian Offshore Market
Subsea services provider N-Sea said it has begun work in the Cameroonian offshore market, via a contract win with Dutch offshore…
Legislation
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Lebanon Passes Oil Tax Law
Lebanon made progress in its efforts to develop a hydrocarbons industry on Tuesday when lawmakers passed a petroleum tax law…
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ETP: U.S. Approves Drilling Along Rover Gas Pipeline
Oil and gas pipeline company Energy Transfer Partners LP said on Tuesday it received approval from U.S. energy regulators…
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Palmali Lodges $2 Bln Claim Against Lukoil's Litasco
Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco…
