Ukraine's Odessa Gets First WTI Oil Cargo from US
Ukraine's Black Sea port of Odessa is set to receive on Wednesday its first ever West Texas Intermediate (WTI) oil cargo from the United States, according to industry sources and shipping data, just a month after the front-month futures for the blend turned negative.U.S. West Texas Intermediate (WTI) May crude futures sank to minus $38 per barrel on April 20, just days before their expiration, in a quirky trading pattern never seen before, amid overproduction and lack of storage capacity inflicted by the coronavirus-battling restrictions.On Wednesday…
Russian Pipe-laying Vessel Moors at Nord Stream 2 Hub in Germany
A Russian pipe-laying vessel Academic Cherskiy which Moscow can use to finish laying pipes for the Nord Stream 2 gas project, has moored near the German logistics hub in Mukran, Refinitiv Eikon tracking data showed on Monday.Led by the state gas company Gazprom, Nord Stream 2 had to suspend pipelaying works late last year, hit by fresh U.S. sanctions. The project is aimed at doubling existing undersea flows to Germany to 110 billion cubic meters per year.Cherskiy…
New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the world’s planned licensing rounds to be canceled this year due to the combined effect of the COVID-19 pandemic and the low oil prices."This year was slated to be another remarkable year for exploration with about 45 countries launching at least 52 lease rounds, about 60% of them in offshore areas.
PGNiG Open to Mergers with State-run Firms
Polish gas company PGNiG is open to consolidation with other energy companies, its newly appointed chief executive said on Friday, as the government tries to merge state-run firms to strengthen their market position.The Polish state is a major shareholder in the energy sector, which is undergoing unprecedented consolidation, with PKN Orlen planning to take over refiner Lotos and state utility Energa.Poland's government plans to merge the country's two biggest refiners to create a bigger player capable of competing on international markets."We want to be treat
Nordex Wind Energy Orders Top 6.2GW in 2019
The turbine manufacturing and installation company Nordex Group booked turbine orders totaling 6207MW in 2019, up 31% on the 4754MW in 2018.The German manufacturer secured deals with a combined capacity of 1477MW in the fourth quarter of last year, which was down on the 1679MW in the last three months of 2018.Overall, the Nordex Group received orders to deliver 1,616 wind turbines with a total output of 6,207 MW in 2019, representing a 31 percent increase on the previous year (2018: 4…
Asian LNG Prices Little Changed in Quiet Trade
Asian spot prices for liquefied natural gas (LNG) were little changed this week amid quiet trade and low liquidity.The average LNG price for February delivery into northeast Asia was estimated at around $5.10-$5.20 per million British thermal units (mmBtu)."Demand is still weak following the Christmas and New Year holidays and there is plenty of supply," an LNG trader said.A new gas transit deal struck between Russia and Ukraine last month, which will see Moscow supply Europe for at least another five years…
Putin, Merkel Pledge Support to Nord Stream 2
Russian President Vladimir Putin and his German counterpart Angela Merkel agreed to further support the Nord Stream 2 gas pipeline project in a phone call on Sunday, the Kremlin said.Putin and Merkel also agreed there was a need to boost political and diplomatic efforts to solve the Libyan crisis, while the two leaders welcomed the prisoner swap in Ukraine, which took place earlier on Sunday.(Reporting by Vladimir Soldatkin, Editing by William Maclean)
Russia Says Nord Stream 2 Will Be Ready in Months
Russian Prime Minister Dmitry Medvedev said on Monday that the Nord Stream 2 gas pipeline would be completed in a matter of months and U.S. sanctions imposed on the project last week would not be "catastrophic".Russia's new gas transit deal with Ukraine would also mollify the impact on Russian gas supplies of U.S. sanctions introduced on the pipeline project, he said.Last week a major contractor suspended work on the Nord Stream 2 project, which is led by Russia's Gazprom, due to U.S. sanctions introduced by U.S.
Equinor, Rosneft to develop Arctic oilfield
Russia's Rosneft and Norway's Equinor have agreed details on how to develop an Arctic Siberian onshore oilfield, they said on Monday, their first joint investment since agreeing a strategic partnership in 2012.The firms expect to extract about 250 million barrels of oil and 23 billion cubic metres of gas in the first stage of developing the Severo-Komsomolskoye oilfield, Equinor said, without giving a value for the investment.Rosneft has a 66.67% stake and Equinor holds the remaining shares in SevKomNeftegaz…
PGNiG Inks Exploration Deal with ERU
Poland's dominant gas firm, state-run PGNiG, said on Monday it was signing a contract with Ukraine's ERU Management Services on cooperation on oil & gas extraction and exploration in Ukraine."This contract makes us an active player in the region's gas market and also contributes to the safety of Poland and all countries," said Polish presidential aide Krzysztof Szczerski during a press conference to announce the agreement.(Reporting by Anna Koper, writing by Alan Charlish)
Gazprom Proposes Gas Deal with Ukraine
Gazprom has sent a formal letter to Ukraine proposing either to extend a current gas deal or sign a new one-year agreement, the Russian gas exporter said on Monday .It also said that it had offered to drop legal claims and counter-claims by both Ukraine and Russia as a pre-condition for the deal.The current deal on Russian gas supplies to Ukraine and its transit via the country to Europe expires on Dec. 31.(Reporting by Vladimir Soldatkin; editing by Jason Neely)
Marine Firm James Fisher Reports Cyber Breach
Marine services provider James Fisher and Sons Plc (JFS) said on Tuesday that hackers had gained unauthorized access to its computer systems, sending its shares down as much as 5.7%.JFS said it had taken all affected systems offline as a precautionary measure and was working with cyber security experts to recover systems, applications and data from its disaster recovery back-up."Work is ongoing to complete the recovery as quickly as possible and to minimize any impact on our businesses…
US Energy Secretary Perry to Step Down
U.S. Energy Secretary Rick Perry, who told President Donald Trump last week he would resign late in the year, intends to step down on December 1, the energy department said on Monday."While Secretary Perry continues to serve at the pleasure of the President, it is his intent to depart DOE December 1," an energy department official said in an email.In recent weeks Perry has found himself engulfed in the impeachment probe threatening Trump's presidency over his work in Ukraine.
Russia: Arctic Offshore Oil Feasible at $130/bbl
The head of Russia's Rosnedra subsoil agency said on Tuesday that the development of the Pobeda (Victory) offshore Arctic oilfield in the Kara Sea is feasible only at oil prices of $130 to $140 per barrel, Interfax news agency reported.Rosneft, the world's top listed oil firm by output, drilled a first exploration well in 2014 in the Kara Sea, which is part of the Arctic Ocean, with a rig provided by U.S. partner Exxon Mobil Corp.Exxon Mobil has pulled out from the project due to U.S.
Russia: Saudi Oil C-Suite Changes Won't Impact Cooperation
Changes in the management of its oil ministry by Saudi Arabia will not impact cooperation between Russia and the Middle East kingdom, Russian Energy Minister Alexander Novak stated today, adding that he plans to meet his Saudi counterpart Khalid al-Falih in the near future and ahead of a planned visit by Russian President Vladimir Putin to the country.Saudi Arabia has named Yasir al-Rumayyan, head of the its sovereign wealth fund, the PIF, chairman of Saudi Aramco, replacing Falih.
GSP Offshore, Trident Black Sea Bid in Ukraine
GSP Holding company GSP Offshore SRL is the preferred drilling and engineering services provider of Trident Black Sea, in its bid for the right to negotiate a production sharing agreement (PSA) with the Ukrainian government for the offshore Dolphin block in the northwestern part of the Black Sea.According to a press release from the Romanian company providing offshore integrated services for oil and gas industry said that Trident Black Sea will be the operator of the project…
U.S. Oil Makes it to Ukraine, a blow to Moscow
U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil.Ukraine this month received its first ever barrels from the United States, according to Refinitiv Eikon flows data, as the tanker Wisdom Venture unloaded 80,000 tonnes of Bakken crude in Odessa on July 6 for the Kremenchug refinery…
DTEK to Develop the Zinkivska Block
DTEK Oil&Gas and its subsidiaries have been selected as winners in a competition for the largest Product Sharing Agreement (PSA) in Ukrainian history. Subsequent to signing the PSA, the company will invest over $37 million into the development of Zinkivska block.DTEK Oil&Gas plans to reanalyze previously attained data from dynamic gas studies, 3D wide-azimuth seismic studies as well as drill three prospecting wells. The aim is start production within two years of the start of the project.The PSA competition…
US Considering Sanctions Over Nord Stream 2
President Donald Trump said on Wednesday he was considering sanctions over Russia's Nord Stream 2 natural gas pipeline project -- which the United States has told European companies to avoid -- and warned Germany against being dependent on Russia for the fuel."We're protecting Germany from Russia and Russia is getting billions and billions of dollars from Germany," Trump told reporters at an appearance with Polish President Andrzej Duda at the White House.Nord Stream 2…
Nord Stream 2 Expecting Denmark Approval
The Russian-led Nord Stream 2 gas pipeline company expects to receive approval from Danish authorities for a 180-km stretch of the pipeline under the Baltic Sea in time to finish the pipeline by the end of 2019 as planned, a spokesman said on Monday.Nord Stream 2 spokesman Jens Mueller said there was "good reason" to believe Danish authorities would process a second proposal submitted by the project in August 2018 within eight to 12 months, allowing the pipeline to be finished on schedule.Even if the Danes acted late in the year…