Wednesday, December 13, 2017

Reuters News

Saudi Aramco Awards General Dynamics Offshore Security Contract

Saudi Aramco has awarded a contract to the local subsidiary of U.S. company General Dynamics as the state oil giant aims to increase security at its offshore facilities, Saudi Aramco said on Wednesday.

Seadrill Bondholders Propose Alternative Debt Restructuring

(Photo: Seadrill)

An unofficial committee of Seadrill's unsecured bondholders has submitted a binding alternative proposal for the company's restructuring, two sources familiar with the proposal told Reuters on Tuesday.

Tankers Queue at PDVSA Ports as Delays Grow

File Image (CREDIT: AdobeStock / (c) Leeylutung)

An accumulation of tankers waiting to load around Venezuelan ports has grown in recent days as state-run oil company PDVSA struggles to deliver fuel oil for exports, according to traders and Reuters vessel tracking data.

OPEC Oil Output Falls in November to Lowest since May

© SLDigi / Adobe Stock

OPEC oil output fell in November by 300,000 barrels per day (bpd) to its lowest since May, a Reuters survey found, pressured by a drop in Angolan and Iraqi exports, strong compliance with a supply cut deal and involunary declines.

Crude Stocks Down, Gasoline Inventories Rise - EIA

U.S. crude stocks fell last week, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories fell by 5.1 million barrels in the week to Dec.

Lundin Cuts Output From Edvard Grieg Field

Production at the Edvard Grieg field off Norway had to be temporarily reduced following the Forties pipeline shutdown, the field's operator, Lundin Petroleum, said on Tuesday. "Following the Forties pipeline shutdown…

Novatek Sells First Yamal LNG Cargo to Petronas

Russia's largest non-state gas producer Novatek has sold its first liquefied natural gas cargo of 170,000 cubic metres from the Yamal LNG project, with Petronas LNG UK Ltd (PLUK) the buyer.

PSO Suspends Fuel Oil imports on LNG Push

File Image: A typical LNG Carrier at Sea (CREDIT: QGTC)

2nd LNG terminal inaugurated 2 weeks ago; fuel oil demand unlikely to recover - official. Pakistan State Oil (PSO) has suspended imports of fuel oil after an abrupt drop in domestic demand…

Statoil to Drill 5-6 Wells in Arctic Barents Sea in 2018

© Ivan Kurmyshov / Adobe Stock

Norway's Statoil will continue to drill for oil in the Arctic Barents Sea next year even though its 2017 campaign was mostly disappointing, the company's head of exploration told Reuters on Tuesday.

Total CEO Not Worried over Possible Norway Fund Capital Exit

Patrick Pouyanne (File photo: Total)

The possible exit of Norway's sovereign wealth fund from the capital of French oil and gas major Total will take place over time and is thus unlikely to hurt Total's stock price, Chief…

TechnipFMC-led Consortium to Expand Bahrain Refinery

State-run Bahrain Petroleum Co (Bapco) has awarded a consortium led by UK-based TechnipFMC a contract to expand Bahrain's only oil refinery, sources close to the matter told Reuters on Friday.

European Oil Margins Sink, but Recovery Expected in 2018

Benchmark European oil refining margins, sank to a 15-month low on Wednesday, pressured by weakness in the gasoline market, but traders are betting on a recovery in the coming months as…

Venezuela to Bring More Military Officials into PDVSA

The general appointed to run Venezuela's energy sector will bring more military officials into the senior ranks of state oil company PDVSA during a major shakeup intended to root out corruption…

Statoil Confident Eni Will Resolve Problems at Goliat Field

Photo: Statoil

Norway's Statoil said on Tuesday it was confident Eni would resolve problems besetting their joint Arctic Goliat oilfield, as a shutdown there neared its second month. The 100,000 barrels-per-day field - operated by Eni…

India's U.S. Coal Imports Soar

File Image (CREDIT: AdobeStock) / (c) n neeleman)

Coal imports seen rising further amid fears ban may expand. India's coal imports from North America quadrupled to 2.1 million tonnes in October from a year ago, the highest since at least January 2015…

OPEC: Balanced Oil Market by Late 2018

File Image (CREDIT: AdobeStock / (c) mikesjc)

OPEC expects the world oil market to be balanced by late 2018 as its deal with other producers to cut output reduces excess oil in storage, even as U.S. and other producers outside the group pump more crude.

Greenhouse Gas Emissions Rise, Despite Call for Cuts

Greenhouse gas emissions by the world's top 500 companies rose 3.1 percent from 2010 to 2013, far off the cuts urged by the United Nations to limit global warming, a study showed on Monday.

UK Energy Prices Spike on North Sea Pipeline Casualty

British power and natural gas prices spiked on Monday afternoon, after a shutdown of the Forties oil and gas pipeline in the North Sea exacerbated ongoing supply outages and already high demand due to colder-than-normal weather.

EDF Wants to Take Part in Saudi Nuclear Plans - CEO

French state-controlled utility EDF wants to take part in Saudi Arabia's plans to build nuclear power reactors, its chief executive told Reuters on Monday. Saudi Arabia, which wants to reduce oil consumption at home…

CERCG Looking to Ship LNG from Australia's West to East

State-owned China Energy Reserve and Chemicals Group (CERCG) on Monday said it is investigating whether to ship liquefied natural gas (LNG) from Western Australia to the gas-hungry east coast market.