Saudi Attacks, High Demand Leaves U.S. Short on Oil Tankers
A disruption in global oil flows following attacks on Saudi Arabian facilities has left U.S. crude exporters without enough tankers to cover rising demand for cargoes, traders and shipping sources said.Missile attacks last Saturday temporarily…
Repsol Buys Stake in Norway’s Mikkel Field
Repsol has reached an agreement with Total to acquire its 7.65% stake in the producing Mikkel field, in the eastern part of the Norwegian Sea.The Mikkel field is a gas and condensate reservoir located 35 kilometers south of the Midgard deposit on Equinor’s Åsgard field in the Norwegian Sea.
Norway's Gas Exports Set to Match Annual Record
Norway's gas exports hit a new high of 36.8 billion cubic meters (bcm) this summer and the annual deliveries will be on a par with the record annual figure achieved in 2017, gas system operator Gassco said on Friday.Between May and August, which is normally a season with fewer gas exports…
Sweden's Vattenfall to Cut 1,500 Jobs
Sweden's state-owned utility Vattenfall said on Monday it would cut 1,500 full-time positions among its employees and consultants by 2020 as part of a long-running drive to boost competitiveness and profitability. The announced job cuts form…
DNV GL Opens LNG Test Center
DNV GL opens LNG test center. The facility, at the organization’s existing renewable energy technology and gas laboratory site is the first type of facility with a capacity compatible for the downstream sector. Its capacity is up to 250kg of…
DNV GL Taps Oudman as Regional Manager
As the global energy transition in the oil and gas industry marks significant changes to come, regional adaptions will pose a broad variation of challenges and opportunities. DNV GL – Oil & Gas has appointed Ben Oudman as Regional Manager for Continental Europe…
UBS, Caisse des Depots Sell Norway's Offshore Gas Pipeline Stake
The owners of Norwegian gas pipeline investor Njord Gas Infrastructure have sold all their shares in the company to Norway's CapeOmega Holding AS for an undisclosed sum, Njord said on Monday. Njord Gas Infrastructure holds an 8 percent stake in the Gassled venture…
Hovem Named CEO of DNV GL Oil & Gas
Liv Hovem will step in as CEO of DNV GL’s Oil & Gas business area from January 1, 2018. She will be based at the DNV GL – Oil & Gas headquarters in Høvik, Norway as a member of the DNV GL Group's Executive Committee reporting to Group President and CEO Remi Eriksen.
Tampnet Awarded Johan Sverdrup Contract
Tampnet, provider of high-capacity, low-latency based telecommunication infrastructure and services for the offshore oil and gas industry, was awarded a contract by Statoil for connecting the Johan Sverdrup field to their existing 2,500km subsea fiber infrastructure in the North Sea.
Court: $1.8B Gas Transport Tariff Row
A Norwegian court will hear an appeal next week by four firms seeking to overturn a ruling that upheld a government decision to cut offshore gas transportation tariffs. The firms - owned by Allianz, UBS, the Abu Dhabi Investment Authority and…
UK Gas Prices Rise on Crude Oil Gains
British wholesale gas prices traded higher on Thursday as rallying oil prices pulled up forward and prompt contracts. Gas for immediate delivery rose 0.20 pence to 34.40 pence per therm by 1017 GMT, while gas for day-ahead moved 0.25 pence higher to 34.45 pence per therm.
DNV GL Recommendations for Adopting LNG as Ship Fuel
As air emission requirements are becoming more stringent, one possible solution for reduced emissions is to use LNG as fuel for shipping. However take-up of LNG as ship fuel in Europe is still at an early stage. DNV GL has provided a report…
BP: UK Headquarters Unchanged Despite Brexit Vote
Oil major BP said on Friday its headquarters would remain in the United Kingdom, despite Britain voting to leave the European Union. "It is far too early to understand the detailed implications of this decision and uncertainty is never helpful for a business such as ours," BP said.
Britain May Face Winter with Record Low Gas Stocks
The shutdown of Britain's largest gas storage facility for 42-days sent wholesale gas prices surging on Wednesday on the possibility the country could head into winter with record low inventories. In an already volatile day of trading driven…
Shell Resumes Iranian Oil Purchases
Royal Dutch Shell has resumed purchases of Iranian crude, becoming the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions, trading sources said and ship tracking data showed. Shell declined to comment.
Bankers Petroleum Shuts Albanian production
Canada's Bankers Petroleum said it had begun shutting-in its crude oil extraction in Albania early on Thursday due to a lack of storage at the export port and its own oilfield, but believed it could restart work in the coming days. On Wednesday…
Statoil Says Sees European Gas Prices Bottoming Out
Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply, company officials said on Wednesday. The majority state-owned Statoil…
Statoil: No Plans for Poland Gasline
Gassco says no plans to build new pipelines to Europe. Norway's Statoil will not invest in a gas pipeline to Poland, the company said on Friday, setting back plans by Polish gas company PGNiG to reduce its dependence on supplies from Russia.
Poland's PGNiG Expects Norway Gas Pipeline Link by 2022
Polish gas company PGNiG's plan to build a pipeline between Poland and Norway to reduce its dependence on Russia is expected to introduce a few billion cubic metres (bcm) of annual gas capacity by 2022, it said on Thursday. The timing of the…
Oil Soars 6 pct, Market Remains Oversupplied
U.S. East Coast, continental Europe gripped by icy weather. Oil rose by more than 6 percent on Friday, as a cold snap boosted demand for heating oil across the United States and Europe, but was still mired near its lowest since 2003 and set for its largest January drop in at least 25 years.