Friday, September 21, 2018

Reuters News

Venezuela Resumes Key Domestic Crude Exports to Cuba

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Venezuela resumed supplying a key domestic crude to political ally Cuba this summer as the South American country's refining output fell further, according to internal documents from state-run oil firm PDVSA seen by Reuters.The sh

Iran Floats Surplus Oil as Demand Falls Ahead of US Sanctions

© Kees Smits / MarineTraffic.com

Two tankers carrying Iranian condensate, a type of ultra-light oil, have been floating off the United Arab Emirates for about a month as demand for the oil fell ahead of U.S. sanctions.The tankers…

Serbia's First Large-scale Wind Farm to Start in October

Photo: Elicio NV

Belgian renewable energy firm Elicio NV said on Friday its 42 megawatt (MW) Alibunar wind farm in northern Serbia will start operating in October and help the Balkan country diversify its…

Canada Environment Minister: 'No Apologies' for Oil Sector Support

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Canada's top climate change official on Thursday said she would make no apologies for the nation's support for its oil producers, saying environmental and economic policies must consider…

Samsung Heavy in Talks to Resolve Nigeria Industry Zone Dispute

Photo: Total

The Nigerian arm of Samsung Heavy Industries is in talks to resolve a court action launched by an industrial zone in the west African country where the company has been building a floating oil platform for Total…

Goliat Oilfield Shut for Maintenance

(Photo: Eni)

Oil production at Eni's Arctic Goliat field off the coast of Norway was shut on Monday for planned maintenance, a company spokeswoman told Reuters.The outage is expected to last for about 10 days, she added.Goliat, the world's nor

China LNG Tariff Casts Shadow Over New US Export Terminals

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China set a 10 percent tariff on U.S. liquefied natural gas (LNG) imports, extending a trade dispute into energy and casting a shadow over U.S. export terminals that would propel the United…

New U.S. LNG Projects, Enough to Double Exports, on Verge of Launch

Photo courtesy of Kinder Morgan

New U.S. liquefied natural gas terminals with enough capacity to double U.S. exports have either begun commissioning their facilities or are waiting for approval from the energy regulator…

GE Says Four Flagship Power Turbines are Shut Down in U.S.

General Electric Co said on Thursday that four of its new flagship power turbines in the United States have been shut down due to an "oxidation issue" and warned it expects the problem…

Texas Waha Natgas Prices Dive 60 pct to Record Low on Pipeline Constraints

Photo: Kinder Morgan

Next-day natural gas prices for Thursday at the Waha hub in the Permian basin tumbled 60 percent to their lowest on record due to pipeline constraints limiting the amount of gas that can…

Borr Drilling Aims to Start Paying Dividends by 2020

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Drilling rig contractor Borr Drilling aims to start paying dividends by 2020, the company's founder and chairman, Tor Olav Troeim, said on Wednesday.Troeim, a former business partner of Norwegian billionaire John Fredriksen…

Aker BP CEO Predicts Fast Johan Sverdrup Ramp-up

Illustration / TRY courtesy Equinor

Aker BP, a partner in Norway's giant Johan Sverdrup oilfield, expects a fast ramp-up of production when the initial development phase ends in late 2019, its chief executive said on Thursday."I think it will be done in a few months

Weatherford CEO's Rebound Plan Relies on Getting Smaller

(Photo: Weatherford)

Four years ago, oilfield company Weatherford International Plc pledged to sell non-core businesses and make paying down debt its top priority after years of borrowing and over spending.It almost worked.

Oil Higher as U.S. Sanctions on Iran Raise Supply Concerns

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Oil prices rose on Monday as investors focused on the impact of U.S. sanctions on Iran despite assurances by Washington that Saudi Arabia, Russia and the United States could together raise…

Aker Bets on Software Engineers for Its Oil Business

(Photo: Aker BP)

When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one.So instead they set up their own…

Oil Holds Just Below $80, Supported by Supply Concerns

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Brent oil prices eased modestly on Wednesday but stayed near their highest level this year, supported by concerns that producers may fail to cover a supply shortfall once U.S. sanctions on Iran come into force in November.Brent…

U.S. Crude, Gasoline Stockpiles Fell Last Week - EIA

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U.S. crude stocks fell last week, while gasoline stocks decreased and distillate inventories rose, the Energy Information Administration said on Wednesday.Crude inventories fell by 2.1 million barrels in the last week…

Bangladesh Shelves LNG Projects as Others Ramp Up

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Bangladesh has put aside two smaller liquefied natural gas (LNG) projects with trading houses Gunvor and Vitol to focus on two larger LNG import terminals, one of which is already in use…

O&G Output at Russia's Pacific Sakhalin Island Seen Down in 2019

Photo: ExxonMobil

Production of oil and natural gas at the Russian Pacific island of Sakhalin is expected to decline next year, the local government said in an emailed response to a Reuters query.Sakhalin…

Verus Petroleum Buys UK Oil Firm Cieco

Alan Curran (Photo: Verus)

Aberdeen-based Verus Petroleum has agreed to acquire Cieco, a subsidiary of Japanese commodity trading house Itochu for an undisclosed sum, Verus' majority owner, Norwegian private equity firm HitecVision, said on Thursday.The acq