News

  • Aker Solutions Successfully Complete Bond Issue

    Posted On May 22, 2019 - 2:38 PM | by Oil and gas press -

    Reference is made to the announcement on May 14, 2019. Aker Solutions ASA has today successfully completed a NOK 1,000 million senior unsecured bond issue with maturity in June 2024. The bond issue was considerably oversubscribed. The bonds will have a coupon of 3 month Nibor + 3.00% p.a., and will be applied for listing […]

  • African ministers to use Africa Oil Week Summit to discuss national strategies

    Posted On May 21, 2019 - 4:53 PM | by Oil and gas press -

    Seventeen Ministers from Africa’s largest energy producing nations, including countries such as Nigeria, Equatorial Guinea and Tunisia among others, have agreed to meet in Cape Town at Africa Oil Week (AOW) (www.Africa-OilWeek.com), taking place from 4-8 November 2019 to broker new partnerships for their energy sectors. The ministers will be using Africa Oil Week Summit […]

  • Energy Investments pick up in Angola’s Oil Sector

    Posted On May 21, 2019 - 4:44 PM | by Oil and gas press -

    Angola has emerged as the hub of foreign direct investments within Africa, and the prospects of attracting more FDI this year are bright, particularly in the country’s oil and gas sector. The ambitious reform agenda of President João Laurenço and that of the Minister of Mineral Resources and Petroleum, Dr. Diamantino Pedro Azevedo, has already […]

  • Dolphin Drilling Announce Resignation of board members

    Posted On May 21, 2019 - 4:09 PM | by Oil and gas press -

    Anette E. Olsen and Richard Olav Aa have given notice of their resignations from the board of Dolphin Drilling ASA with effect from 23 May 2019 at 09.00 hrs. Source / More : Dolphin Drilling ASA Oil and Gas News Undiluted !!! “Oil is well” Please email us your industry related news for publication info@OilAndGasPress.com […]

  • BP statement on Greenpeace protests in London

    Posted On May 21, 2019 - 12:38 PM | by Oil and gas press -

    BP has responded to the Greenpeace protests in London yesterday. We welcome discussion, debate, even peaceful protest on the important matter of how we must all work together to address the climate challenge, but impeding safe entry and exit from an office building in this way is dangerous and clearly a matter for the police […]

  • Oil Market remaining calm – IEA Reports

    Posted On May 17, 2019 - 1:25 PM | by Oil and gas press -

    The ongoing geopolitical supply concerns around Libya, Iran, and Venezuela have been joined in the past few days by the attacks on shipping off Fujairah and on two pumping stations in Saudi Arabia. At the time of writing, there is no disruption to oil supplies and prices are little changed. The IEA is monitoring the […]

  • Egypt’s Extended Fund Facility

    Posted On May 17, 2019 - 11:17 AM | by Oil and gas press -

    The IMF mission reached a staff-level agreement with the Egyptian authorities for the completion of the fifth and the final review of Extended Fund Facility. •           Prudent monetary and fiscal policies and a flexible exchange rate have underpinned macroeconomic stabilization and strengthened Egypt’s resilience to external shocks, while social protection measures have helped ease the burden […]

  • Equinor ex dividend Update

    Posted On May 17, 2019 - 10:31 AM | by Oil and gas press -

    From 16 May 2019, the shares in Equinor (OSE:EQNR) on Oslo Stock Exchange (Oslo Børs) will be traded ex dividend at USD 0.26. From 17 May 2019, the rights under the American Depository Receipts (ADRs) program in Equinor (NYSE: EQNR) on New York Stock Exchange will be traded ex dividend at USD 0.26 On 15 […]

  • Schlumberger Selects Google Cloud as a Preferred Cloud Provider

    Posted On May 16, 2019 - 12:51 PM | by Oil and gas press -

    Schlumberger announced that it has renewed and significantly expanded its agreement with Google Cloud to develop cloud-native E&P applications to help its customers derive actionable insights from data and harness the power of Google’s cloud infrastructure and artificial intelligence (AI) capabilities. Schlumberger has deployed its oil and gas petrotechnical software suite, including WesternGeco Omega* geophysical […]

  • Minority-Owned U.S. Energy Supplier of the Year 2019

    Posted On May 15, 2019 - 2:25 PM | by Angela Marcos -

    HIC Energy said that it has been named 2019 Best Minority-Owned Energy Supplier of the Year by the Md. Washington Minority Companies Association. Md. Washington Minority Companies Association Names HIC Energy Best Minority-Owned Energy Supplier of the Year 2019 Recognizes HIC Energy’s rapid growth an market share in such a short period of time Achievements […]

  • Gazprom’s 8th corporate Fakel Festival

    Posted On May 15, 2019 - 12:10 PM | by Oil and gas press -

    The opening ceremony for the final round of Gazprom’s 8th corporate Fakel Festival took place in Krasnaya Polyana, Sochi. The event brought together over 1,600 people representing 40 delegations from Russia, Belarus, Kyrgyzstan, and China. The Festival’s guests include delegations from Bolivia, France, Germany, Uzbekistan, and Vietnam. Over the course of three days, contestants will […]

  • Sabotage incident targeted Saudi Aramco facility

    Posted On May 15, 2019 - 9:00 AM | by Oil and gas press -

    Saudi Aramco responded to a fire at East West Pipeline Pump station 8 which was caused by a sabotage incident using armed drones which targeted pump stations 8 and 9. As a precautionary measure, the Company temporarily shut down the pipeline, and contained the fire which caused minor damage to pump station 8. Saudi Aramco […]

  • ExxonMobil and staff donate more than $50 million to U.S. colleges and universities

    Posted On May 15, 2019 - 8:52 AM | by Oil and gas press -

    ExxonMobil said today that 806 accredited colleges and universities in the United States will receive a total of $50.4 million as part of the ExxonMobil Foundation’s 2018 Educational Matching Gift Program. Nearly 4,000 ExxonMobil employees and retirees contributed more than $17 million to institutions of higher education in 2018, which will be matched with over […]

  • Eni Shareholders’ approve 2018 Financial Statements

    Posted On May 15, 2019 - 8:46 AM | by Oil and gas press -

     The Ordinary Meeting of Eni’s Shareholders, held today, resolved the following: to approve the financial statements at December 31, 2018 of Eni S.p.A. which report a net profit amounting to 3,173,442,590.70 euro; to allocate the net profit for the period of 3,173,442,590.70  euro, of which 1,660,963,734.84 euro remains following the distribution of the 2018 interim […]

  • ExxonMobil Invests in development of lower-emission technologies

    Posted On May 14, 2019 - 9:09 AM | by Oil and gas press -

    ExxonMobil, in its search to develop lower-emission technologies, has created a new partnership with the National Renewable Energy Laboratory (NREL) and the National Energy Technology Laboratory (NETL). Considered the crown jewels of American research and home to groundbreaking innovations, the U.S. Department of Energy’s National Laboratories represent a scientific network that spans the country. And ExxonMobil’s […]

  • Aker Solutions ASA to Hold Investor Meetings on Possible Bond Issue

    Posted On May 14, 2019 - 8:53 AM | by Oil and gas press -

    Aker Solutions ASA has engaged DNB Markets, Nordea, SEB and Swedbank to arrange a series of fixed-income investor meetings in the Nordic region, starting May 20, 2019. Following these meetings and subject to inter alia market conditions, a NOK-denominated senior unsecured bond issue with a five-year tenor may follow. The proceeds from the potential bond […]

  • Eni Foundation supports burn referral services in Cairo

    Posted On May 13, 2019 - 4:14 PM | by Oil and gas press -

    Eni Foundation has signed a Memorandum of Understanding with the Ministry of Health and Population of Egypt to support the Egyptian government in implementing its policy of expansion and strengthening of burn assistance services in Cairo, in particular for the pediatric patients. The four main components of the project are: The establishment of a dedicated […]

  • Reaction to Four sabotaged commercial ships near UAE territorial waters

    Posted On May 13, 2019 - 10:43 AM | by Oil and gas press -

    The Secretary-General of the Arab League, Ahmed Aboul Gheit has condemned in the strongest terms the acts of sabotage that targeted four commercial vessels near the territorial waters of the United Arab Emirates including two Saudi oil tankers in the Arabian Gulf, stressing that these criminal acts constitute a serious violation of the freedom and […]

  • CNPC meets with Italian oil & gas partners

    Posted On May 12, 2019 - 1:13 PM | by Oil and gas press -

    On May 8, Wang Yilin, chairman of CNPC, met with Claudio Descalzi, CEO of Eni and Jamie Anchústegui, CEO international of Generali Group in Rome respectively, exchanging opinions on intensified cooperation in fields such as oil & gas projects, international trading, finance and insurance. Source / More : CNPC Oil and Gas News Undiluted !!! […]

  • Jaguar Land Rover total retail sales down 9.1%

    Posted On May 10, 2019 - 5:43 PM | by Oil and gas press -

    Jaguar Land Rover retail sales in April 2019 were 39,185 vehicles, down 13.3% compared to April 2018. The introduction of the all-electric Jaguar I-PACE and the sales ramp up of the new Range Rover Evoque continue to be encouraging, however, retail sales of other models were lower primarily reflecting the continuing weaker market conditions in […]

  • Canadian Natural Announces Quarterly Dividend

    Posted On May 9, 2019 - 10:02 AM | by Oil and gas press -

    Canadian Natural Resources Limited announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.375 (thirty-seven and one half cents) per common share. The dividend will be payable July 1, 2019 to shareholders of record at the close of business on June 14, 2019. Canadian Natural is a senior […]

  • Wood Group announce Chair Succession

    Posted On May 9, 2019 - 8:09 AM | by Oil and gas press -

    John Wood Group PLC (“Wood”) announces the appointment of Roy Franklin as Chair of the Board of Directors with effect from 1 September 2019. Roy has been a non-executive director and the senior independent director of Wood since October 2017, having been appointed following the acquisition of Amec Foster Wheeler plc (“AFW”). He had previously […]

  • CFO for the new Siemens Gas and Power Business named

    Posted On May 8, 2019 - 11:43 AM | by Oil and gas press -

    Klaus Patzak (54), currently Managing Partner of the Siemens Portfolio Companies, has been appointed Chief Financial Officer (CFO) of the new Siemens Gas and Power business (GP). In this role, Patzak will be responsible for building the Finance governance structures, steering the activities required for carving out and listing, and helping to shape the format […]

  • Electric Highway for Trucks A Reality?

    Posted On May 8, 2019 - 11:30 AM | by Oil and gas press -

    Germany is testing an electric highway for trucks as part of a £60million test project according to a Daily mail report. The country’s government announced that specially-adapted vehicles are now able to draw electric power from overhead cables on a small section of the autobahn. It is the first test of its kind on a […]

  • Drilled but uncompleted wells in USA

    Posted On May 7, 2019 - 10:18 AM | by Oil and gas press -

    The number of drilled but uncompleted wells in seven key oil and natural gas production regions in the United States has increased over the last two years, reaching a high of 8,504 wells in February 2019, according to well counts in EIA’s Drilling Productivity Report (DPR). The most recent count, at 8,500 wells in March […]

  • ExxonMobil provides $100,000 to support relief efforts in Mozambique

    Posted On May 7, 2019 - 10:12 AM | by Oil and gas press -

    ExxonMobil said that it is providing $100,000 to support disaster relief and recovery efforts in Mozambique following Cyclone Kenneth, which made landfall on April 25. The $100,000 contribution will go to the American Red Cross, which will coordinate its assistance with the Mozambique government’s National Disasters Management Institute in support of ongoing rescue efforts and […]

  • Aiteo Commits to the Development of its Host Community

    Posted On May 7, 2019 - 10:06 AM | by Oil and gas press -

    At the early hours of today, a section of the Nembe Community, Bayelsa State, Nigeria, converged, without prior notice, on and barricaded the entrance to Aiteo’s (http://www.AiteoGroup.com) logistics base interrupting normal work operations and ignoring the intervention of the State security task force. Following protracted engagement with them, they agreed to disband, while leaving behind […]

  • Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”

    Posted On May 2, 2019 - 8:39 PM | by Oil and gas press -

    In among the multitude of threats that Iran has made public since the US sanctions on Iran were levied, Iran has now heralded the collapse of OPEC, if OPEC members fill the void by snagging market share left unfilled by Iran and Venezuela, according to S&P Global Platts. Iran’s oil minister said that two OPEC members […]

  • ION reports first quarter 2019 results

    Posted On May 2, 2019 - 8:29 PM | by Oil and gas press -

    ION Geophysical Corporation (NYSE: IO) today reported revenues of $37.0 million in the first quarter 2019, a 10% increase compared to revenues of $33.5 million one year ago, driven in part by an increase in data library sales and Marlin™ deployments. ION’s net loss was $21.4 million, or $(1.52) per share, compared to a net […]

  • Wood Group Update on Executive Director remuneration

    Posted On May 2, 2019 - 8:25 PM | by Oil and gas press -

    Following additional shareholder engagement, the Board and executive directors have mutually decided to cancel the LTIP awards for the performance period 2019-2021 for Robin Watson and David Kemp (329,513 and 166,953 conditional shares respectively) made in April 2019. As we are very concerned about longer term retention for senior management, including our executive directors, and […]

  • IMF Staff Concludes Visit to the United Arab Emirates

    Posted On May 2, 2019 - 6:43 PM | by Oil and gas press -

    An International Monetary Fund (IMF) mission led by Mr. Koshy Mathai visited the United Arab Emirates (UAE) from April 23 to May 1, 2019, to update itself on recent developments and the economic outlook and to discuss macroeconomic policies. Upon conclusion of the visit, Mr. Mathai issued the following statement: “The economy continued to adjust […]

  • INEOS acquires Cristal’s N. American Titanium Dioxide Business from Tronox

    Posted On May 2, 2019 - 11:13 AM | by Oil and gas press -

    INEOS Enterprises has today completed the acquisition of the North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Limited for $700 million. The North American business, which includes two-plants located at the Ashtabula Ohio (US) complex will now become fully integrated within the INEOS business, trading as INEOS Pigments. The divestment of […]

  • Traiana Enhances Credit Risk Hub to Boost FX Prime Broker Control

    Posted On April 30, 2019 - 1:52 PM | by Oil and gas press -

    Traiana, the leading infrastructure service for trade life-cycle and risk management solutions, today announced significant enhancements to its Credit Risk Hub. FX prime brokers (FXPBs) can now define trade information in more detail to increase credit risk controls and reduce the risks of credit over-allocation. Traiana’s Credit Risk Hub comprises two services; Designation Notice Manager […]

  • 3rd Joint IEA-IEF-OPEC Technical Meeting

    Posted On April 30, 2019 - 11:21 AM | by Oil and gas press -

    The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) met today at the OPEC Secretariat in Vienna, Austria, to participate in the 3rd Joint IEA-IEF-OPEC Technical Meeting on the Interactions between Physical and Financial Energy Markets. The Technical Meeting is part of the trilateral work […]

  • Africa needs massive investments for economic development

    Posted On April 29, 2019 - 12:28 PM | by Oil and gas press -

    Former Ethiopia Prime Minister, Hailemariam Desalegn has described as exceptional and enormous the investment of the Dangote Group (https://Dangote.com) in Africa’s oil refining sector and urged other private sector investors to take a cue from the group’s investment drive. Speaking during the tour of Dangote Jetty, Fertiliser and Refinery Plant, Desalegn said the President of […]

  • Oil Company workers kidnapped in Nigeria

    Posted On April 29, 2019 - 8:12 AM | by Oil and gas press -

    Two senior employees of the oil company Shell have been kidnapped as the workers were returning from a business trip on Thursday on a road in Rivers state. Gunmen killed the police escort, and seized the two workers, in Nigeria’s Niger Delta region, police said. A police spokesman said efforts were under way to rescue […]

  • ExxonMobil supports fight against malaria

    Posted On April 26, 2019 - 7:12 PM | by Oil and gas press -

    ExxonMobil said today that it is committing $5.7 million in support for local and global organizations working to eliminate malaria around the world. This year’s grants, announced in conjunction with World Malaria Day, will continue the company’s nearly 20-year effort to reduce the global burden of malaria, a disease that still causes an estimated 435,000 […]

  • Cryogas-Vysotsk Start Full-scale LNG Production

    Posted On April 26, 2019 - 11:05 AM | by Oil and gas press -

    PAO NOVATEK announced that its joint venture with Gazprombank Cryogas-Vysotsk has commenced full-scale production of liquefied natural gas (LNG). During the official ceremony at the port of Vysotsk, Russian President Vladimir Putin has formally started the Cryogas-Vysotsk LNG project. “Cryogas-Vysotsk is our first medium-scale LNG project.” noted NOVATEK’s Chairman of Management Board Leonid Mikhelson, “Our […]

  • Climate Change — could combustion engines be part of the solution?

    Posted On April 26, 2019 - 9:54 AM | by Oil and gas press -

    In order to tackle climate change, emissions from road transport must also be reduced. There are many ways to cut down transport-related emissions – could combustion engines be part of the solution? Electric vehicles are on their way — but not in the very near future “Electric vehicles are on their way, and it is […]

  • Gazprom and CNPC discuss pipeline gas supplies to China

    Posted On April 26, 2019 - 7:56 AM | by Oil and gas press -

    A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Wang Yilin, Chairman of the Board of Directors of CNPC, took place today in Beijing, China. The meeting participants reviewed the development prospects of the Chinese gas market and the strategic aspects of cooperation between Gazprom and CNPC, paying particular attention to […]

  • Zhonghua Gas Holdings Announce Profit Alert for 2019 First Quarter

    Posted On April 26, 2019 - 7:49 AM | by Oil and gas press -

    Zhonghua Gas Holdings Limited (the “Company”; Stock Code: 8246) together with its subsidiaries (collective namely the “Group”) today announces the positive profit alert for the three months ended 31 March 2019 (the “2019 First Quarter”). Based on the information currently available to the Board of Directors and the preliminary review of the relevant unaudited consolidated […]

  • Reliance Media Statement Regarding Venezuelan crude

    Posted On April 25, 2019 - 10:02 AM | by Oil and gas press -

    Press stories suggesting that Reliance is involved in an arrangement that leads to cash payment for oil supplies to PDVSA via third parties are false and reckless. Reliance has purchased Venezuelan crude oil from companies such as ROSNEFT long before the imposition of US sanctions, as they do get title to Venezuelan oil in return […]

  • Making Tax Digital for VAT (MTD for VAT) initiative

    Posted On April 25, 2019 - 7:55 AM | by Oil and gas press -

    On 1 April, the UK government’s Making Tax Digital for VAT (MTD for VAT) initiative came into effect. Businesses which have a taxable turnover above the VAT registration threshold (currently £85,000) are now required to comply with MTD for VAT. As part of the initiative, firms must keep some records digitally, using ‘functional compatible software’. […]

  • Schlumberger Announces First-Quarter 2019 Results

    Posted On April 24, 2019 - 12:04 PM | by Oil and gas press -

    Worldwide revenue of $7.9 billion decreased 4% sequentially, but increased 1% year-on-year International revenue of $5.0 billion decreased 5% sequentially, but increased 3% year-on-year North America revenue of $2.7 billion decreased 3% sequentially and 3% year-on-year Pretax operating income of $908 million decreased 6% sequentially and 7% year-on-year EPS was $0.30 Cash flow from operations […]

  • PumpWatch; Proposed UK Independent Pricing Watchdog

    Posted On April 24, 2019 - 10:06 AM | by Oil and gas press -

    The Westminster APPG for Fair Fuel for UK Motorists and UK Hauliers is supporting 37m UK Drivers and calls for the introduction of an Independent Pump Price Monitoring Body. Notionally calling this proposed consumer watchdog ‘PumpWatch’, the APPG are supporting a Government ePetition initiated by FairFuelUK launched in the week of 17th December, to that […]

  • Emirates to expand reach in India with SpiceJet codeshare partnership

    Posted On April 23, 2019 - 2:35 PM | by Oil and gas press -

    Emirates and SpiceJet have signed a Memorandum of Understanding (MoU) to enter into a reciprocal codeshare agreement, which is set to open new routes and destinations for passengers travelling between India and popular destinations across Africa, America, Europe and the Middle East. Subject to necessary government approvals, the partnership will enable Emirates’ passengers to enjoy […]

  • U.S. State Energy Data Release

    Posted On April 23, 2019 - 12:24 PM | by Oil and gas press -

    State Energy Data System (SEDS) estimates for consumption, prices, and expenditures for petroleum coke and other petroleum products through data year 2017 are available on the SEDS Updates page. Other petroleum products is a category that comprises 11 products, including still gas, petrochemical feedstocks, and special napthas. Data highlights for 2017 include U.S. consumption of […]

  • Nigeria: Aiteo declares force majeure on oil supply from Bonny Light pipeline

    Posted On April 23, 2019 - 9:04 AM | by Oil and gas press -

    Aiteo Eastern Exploration and Production has declared force majeure on crude oil supply through Nigeria’s 150,000 b/d Nembe Creek Trunk Line, a key oil pipeline connected to the Bonny terminal, after a fire broke out at the facility on Sunday Investigations on the cause of the fire are ongoing, but Aiteo said it suspected sabotage. […]

  • IMF Approves US$118.2 Million Rapid Credit Facility Assistance to Mozambique

    Posted On April 23, 2019 - 8:33 AM | by Oil and gas press -

    The financial assistance is intended to address large budgetary and external financing gaps arising from reconstruction needs after Cyclone Idai, which caused significant loss of life and infrastructure damage. · The authorities remain committed to macroeconomic stability, which will also be underpinned by the IMF’s financing. The Executive Board of the International Monetary Fund (IMF) […]

  • IMF Board Approves FY2020–FY2022 Medium-Term Budget

    Posted On April 23, 2019 - 8:27 AM | by Oil and gas press -

    On April 5, 2019, the Executive Board of the International Monetary Fund (IMF) approved the IMF’s administrative and capital budgets for financial year (FY) 2020, beginning May 1, 2019, and took note of indicative budgets for FY2021–22. The net administrative budget for FY2020, which covers all administrative expenses less receipts (primarily from external sources to […]

  • NT communities dig in against invasive fracking

    Posted On April 18, 2019 - 3:48 PM | by Oil and gas press -

    Disclaimer Most News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles OilAndGasPress welcomes all viewpoints. Should you wish to provide a different perspective on the above article, please email us info@OilAndGasPress.com

  • EIA expects 2019 summer average U.S. residential electricity use to be lowest in five years

    Posted On April 18, 2019 - 3:13 PM | by Oil and gas press -

    EIA’s Short-Term Energy Outlook forecasts that the typical U.S. residential household will consume about 3,080 kilowatthours of electricity this summer (June through August), down 5% from the average summer consumption in 2018. If this forecast is realized, it would be the lowest level of electricity consumption per customer since 2014 and the second-lowest level since […]

  • SECURE Energy Acquires Cushing Crude Oil Storage Infrastructure

    Posted On April 18, 2019 - 3:07 PM | by Oil and gas press -

    Secure Energy Services Inc. (“Secure” or the “Corporation”) (TSX – SES) announced the completion of two tuck-in acquisitions, providing the Corporation with a strategic midstream footprint in one of the largest crude oil storage and trading hubs in North America. The Corporation has acquired a 27% interest in a crude oil storage facility comprised of […]

  • Directorate Change

    Posted On April 18, 2019 - 11:08 AM | by Oil and gas press -

    John Wood Group PLC (“Wood”) announces the following board changes. Adrian Marsh will join Wood as a non-executive director on May 10, 2019 following the Annual General Meeting. He will also be appointed Chair of the Board’s Audit Committee with effect from September 1, 2019. Adrian is currently Group Finance Director of international packaging business, […]

  • Shell PAYS Nigerian Govt., Agencies $6.397Bn

    Posted On April 17, 2019 - 2:12 PM | by Oil and gas press -

    Over $6.397 billion was paid to the Nigerian government and its agencies in 2018 by Shell exploration and production companies in Nigeria comprising The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo). The payment represents a 48 per cent increase over payments by the companies to […]

  • Is it possible to remove the reliance on coal?

    Posted On April 17, 2019 - 11:32 AM | by Oil and gas press -

    In the UK, there are eight coal-fired power stations in use. A ban on coal was introduced in 2018 and will come into force in October 2025. It has presented energy companies with an ultimatum: adapt your existing assets to generate greener energy or close your power station. This rule has already set in motion […]

  • “Neste just got boycotted”

    Posted On April 17, 2019 - 8:47 AM | by Oil and gas press -

    Last week Neste released a campaign, with the aim to create discussion around different ways to fight climate change and challenge the future government of Finland to set ambitious targets for emission reductions. Neste’s campaign challenged a group of influencers and the company’s President and CEO to take a polygraph test. The campaign video attracted […]

  • Eni A- Fitch Ratings

    Posted On April 16, 2019 - 4:17 PM | by Oil and gas press -

    Fitch Ratings has affirmed Eni’s long-term solicited rating at “A-” with stable outlook. The rating expresses the strong credit quality of Eni and reflects, according to Fitch, its growth prospects and strong asset diversification. Fitch has also assigned the expected short-term solicited rating at “F1 (EXP)”. Source / More : Eni Oil and Gas News […]

  • Decarbonising the Irish energy sector

    Posted On April 16, 2019 - 12:24 PM | by Oil and gas press -

    Ireland has successfully advanced the transformation of its energy sector, led primarily by the power sector. In 2017, about a quarter of the country’s total power generation came from wind power, the third highest share among all 30 IEA member countries, according to the latest review of Ireland’s energy policies by the International Energy Agency. […]

  • Shell withdraws from joint Baltic LNG project with Gazprom

    Posted On April 11, 2019 - 2:20 PM | by Oil and gas press -

    Shell is to withdraw from the Baltic LNG, its joint project with Gazprom after the Russian gas holding decided to change the concept of the project’s development, Cederic Cremers, Shell Russia Chairman, said. “Following Gazprom’s announcement on March 29 regarding the final development concept of Baltic LNG, we have decided to stop our involvement in […]

  • Julian Assange arrested at Ecuadorian embassy in London

    Posted On April 11, 2019 - 12:10 PM | by Oil and gas press -

    British police arrested WikiLeaks founder Julian Assange on a 7-year-old warrant early Thursday 11 April, at the Embassy of Ecuador in London. “Julian Assange, 47, has today, Thursday 11 April, been arrested by officers from the Metropolitan Police Service (MPS) at the Embassy of Ecuador, Hans Crescent, SW1 on a warrant issued by Westminster Magistrates’ […]

  • McDermott Signs JV Agreement with Zamil Offshore

    Posted On April 11, 2019 - 8:27 AM | by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced it has signed a Joint Venture Agreement with Zamil Offshore to target the Maintenance, Modifications and Operations (MMO) market in Saudi Arabia. McDermott and Zamil will work together on an exclusive basis to provide Saudi Aramco with comprehensive offshore brownfield EPCI solutions and asset maintenance services. The new joint […]

  • Nigeria’s Cost Of Oil Production Drops to $23 Per Barrel

    Posted On April 10, 2019 - 3:10 PM | by Oil and gas press -

    Nigeria’s minister of state for petroleum resources Emmanuel Ibe Kachikwu has said that inspite of numerous challenges facing the oil and gas industry, government has managed to reduce significantly the cost of oil production which is now around $23 per barrel. Speaking yesterday at the opening ceremony of the second edition of the Nigerian Oil […]

  • BP publishes template for LNG transactions

    Posted On April 10, 2019 - 2:11 PM | by Oil and gas press -

    BP, one of the world’s leading producers and traders of liquefied natural gas (LNG), is the first major oil and gas business to publish its LNG Master Sale and Purchase Agreement template for Delivered Ex-Ship transactions (the BP DES LNG MSA). The BP DES LNG MSA allows either party to buy or sell physical LNG […]

  • Ecuadorian Judgment is Unenforceable Against Chevron’s Canadian Subsidiary

    Posted On April 10, 2019 - 2:01 PM | by Oil and gas press -

    The Supreme Court of Canada has rejected a request to review a decision of the Court of Appeal for Ontario that a $9.5 billion Ecuadorian judgment against Chevron Corporation cannot be enforced against Chevron Canada Limited, an indirect subsidiary. The Court of Appeal for Ontario’s decision, which is now final, dismissed all claims against Chevron […]

  • Eni at FuoriSalone 2019

    Posted On April 10, 2019 - 1:39 PM | by Oil and gas press -

    Eni is presenting its own installation, The Circular Garden, as part of Interni magazine’s Human Spaces exhibition at FuoriSalone 2019, at the Botanical Garden of Brera in Milan today. The installation itself was designed by the international design and innovation studio Carlo Ratti Associati in collaboration with some of Europe’s top mycology experts. The installation […]

  • Baker Hughes Announces March 2019 Rig Counts

    Posted On April 10, 2019 - 1:34 PM | by Oil and gas press -

    Baker Hughes, a GE company (NYSE:BHGE) announced that the Baker Hughes international rig count for March 2019 was 1,039, up 12 from the 1,027 counted in February 2019, and up 67 from the 972 counted in March 2018. The international offshore rig count for March 2019 was 247, down 3 from the 250 counted in […]

  • Oceanteam sells minority position to Diavaz

    Posted On April 10, 2019 - 1:27 PM | by Oil and gas press -

    Oceanteam ASA (the “Company” or “Oceanteam”) and its Mexican partner Diavaz have reached an agreement to terminate the joint venture structure set up by the two groups (the ”DOT Group”), established in 2014 in order to service the Mexican offshore market, in which Oceanteam held 40 percent. Oceanteam’s stake will be taken over by Diavaz. […]

  • UK Treasury revises oil and gas tax history compliance

    Posted On April 10, 2019 - 11:44 AM | by Oil and gas press -

    The Treasury has published detail of the alternative schedule to the decommissioning relief deed (DRD) that oil and gas companies are required to sign before they elect to transfer their tax history The DRD provides certainty for oil and gas companies over the tax relief they will receive when decommissioning assets in the future. The […]

  • Saudi Aramco CEO addresses IPTC in Beijing

    Posted On March 27, 2019 - 12:52 PM | by Oil and gas press -

    Addressing the International Petroleum Technology Conference (IPTC) in Beijing on March 26-28, Saudi Aramco President and CEO Amin H. Nasser said that despite the energy industry facing a “crisis of perception”, it is undergoing major transformation thanks to technological breakthroughs which help energy companies meet growing energy demand more efficiently. Nasser said these misperceptions – […]

  • Appointment of Senior Vice-President, Investor Relations at Total

    Posted On March 25, 2019 - 11:22 AM | by Oil and gas press -

    Ladislas Paszkiewicz is appointed Senior Vice-President, Investor Relations of Total and is a member of the Group Performance Management Committee. Mike Sangster will retake the role on an interim basis until then. Ladislas Paszkiewicz joined Total in 1985 in the Finance Division. From 2005 to 2015, he was in the Exploration & Production Business Unit […]

  • Bank of England holds interest rates

    Posted On March 22, 2019 - 1:58 PM | by Oil and gas press -

    The Bank of England’s monetary policy committee (MPC) has voted unanimously to hold interest rates at their current level of 0.75 per cent, after weighing up “mixed” economic data. The Bank cited weakening global economic conditions and “shifting expectations” about Britain’s withdrawal from the European Union. It signalled it had future rates rises pencilled in, […]

  • Crude Oil Price Movement to 21/03/19

    Posted On March 22, 2019 - 12:35 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $67.78 a barrel on Thursday, 21 March 2019, compared with $67.54 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

  • U.S. Chiller Services Awarded maintenance contract by ADNOC in Ruwais City

    Posted On March 22, 2019 - 11:44 AM | by Oil and gas press -

    U.S Chiller services (USCS) announced that they have been awarded the comprehensive operation and maintenance of 3 district cooling plants for the Abu Dhabi National Oil Company. USCS will be responsible for complete operation, maintenance, services and energy optimization of the three chilled water plants for five years beginning March 1, 2019. The three plants […]

  • ADNOC Wins National Award for Oil and Gas Project of the Year

    Posted On March 22, 2019 - 11:36 AM | by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) has won a national award for the Oil and Gas Project of the Year at the 2019 MEED Projects Awards. The award was presented to ADNOC for the Taweelah Gas Compression Plant project that was completed in record time and under the highest safety standards. The award recognizes […]

  • Rise for Bayelsa Campaign

    Posted On March 22, 2019 - 9:28 AM | by Oil and gas press -

    Bayelsa State governor, Seriake Dickson has accused multinational oil companies operating in the Niger Delta of funding “terrorism, criminality and breakdown of law and order.” He alleged that oil pipeline surveillance contracts awarded by the oil firms were foundational to the security threats in the region. In a statement issued on Thursday, Dickson’s Special Adviser […]

  • Sonangol attributes fuel shortage to logistic problem

    Posted On March 20, 2019 - 3:47 PM | by Oil and gas press -

    Angola State-owned oil firm “Sonangol” has told its consumers that the fuel supply situation in Luanda province would be tackled but it did not set any deadline for the full solution to the problem, recorded since the early hours of last Saturday. In its statement, Sonangol attributed the fuel shortage to logistic problem, saying that […]

  • World Happiness Report

    Posted On March 20, 2019 - 9:15 AM | by Oil and gas press -

    The World Happiness Report, released today, ranked 156 countries by happiness levels, based on factors such as life expectancy, social support and corruption. The World Happiness Report is a landmark survey of the state of global happiness that ranks 156 countries by how happy their citizens perceive themselves to be. This year’s World Happiness Report […]

  • Panoro Announce: First crude oil lifting from Tunisia

    Posted On March 19, 2019 - 7:53 PM | by Oil and gas press -

    Panoro Energy ASA (“Panoro” with OSE ticker: “PEN”) provided an update on lifting operations in Tunisia. The first cargo of approximately 151,000 barrels of Rhemoura blend crude oil has been lifted from La Skhirra Terminal in Tunisia on 6 March 2019. The lifting operations were completed successfully and without any delays or incidents. The pricing […]

  • INEOS set to acquire Cristals from Tronox

    Posted On March 19, 2019 - 4:34 PM | by Oil and gas press -

    INEOS Enterprises has today announced that it has signed an agreement to acquire The North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Limited (NYSE:TROX) for $700 million. Cristal’s North American business includes two-plants located at the Ashtabula Ohio (US) complex. The deal forms the proposed remedy package submitted to the US […]

  • Pearl signs Gas Sales Agreement with Kurdistan Regional Government

    Posted On March 19, 2019 - 12:45 PM | by Oil and gas press -

    Pearl Petroleum Company Limited (“Pearl Petroleum”), the Consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a new 20-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government to enable production and sales of an additional 250 MMscf/day that the Consortium aims to produce by 2021 as part of their expansion […]

  • U.K Government’s policy on fracking

    Posted On March 18, 2019 - 11:20 AM | by Oil and gas press -

    Commenting on the news that elements of the Government’s fracking policy ruled unlawful, Dr Jonathan Marshall, Head of Analysis at the Energy and Climate Intelligence Unit (ECIU) said: “Natural gas is not a low-carbon fuel, therefore the ruling to call into question governmental claims that it is make sense. With the UK’s electricity system almost […]

  • Neste Announce disposal of own shares based on the share ownership plan

    Posted On March 18, 2019 - 9:53 AM | by Oil and gas press -

    A total of 56,033 treasury shares of Neste Corporation has been on the 15th of March 2019 conveyed without consideration to the key persons participating in the Share Ownership Plan 2016 according to the terms and conditions of the plan. The decision of the Board of Directors is based on a share issue authorization granted […]

  • SNEPCo’s entry into the offshore exploration in the Gulf of Guinea

    Posted On March 18, 2019 - 8:40 AM | by Oil and gas press -

    The government partner of the Shell Nigeria Exploration and Production Company (SNEPCo) has showered encomiums on the firm for its pioneering role in the deep-water sector of the Nigerian oil and gas industry. Group Managing Director of NNPC, Maikanti Baru, described SNEPCo as a clear leader in deep water whose performance is exemplary. “SNEPCo is […]

  • Nigerian Government takes over oil well from Shell

    Posted On March 14, 2019 - 6:20 PM | by Oil and gas press -

    President, Mohammadu Buhari has said that with effect from 2019, existing oil licensees will not be renewed by the Federal Government of Nigeria and its Public Corporations. No reason has so far been given for this development, but sources within the Presidency reportedly revealed that the move is in keeping with this electioneering campaign promises, […]

  • Karoon Energy Chairman Announces Company Strategy

    Posted On March 14, 2019 - 9:44 AM | by Oil and gas press -

    Against the backdrop of a very strong balance sheet, the board has undertaken a review of the company’s strategy encompassing the evaluation of several future scenarios. The overriding principle in evaluating the strategic alternatives was based solely on potential shareholder returns. The major components of the strategic review included: a significant production acquisition; pursuing our […]

  • Crude Oil Price Movement to 12/03/19

    Posted On March 13, 2019 - 4:00 PM | by Oil and gas press -

    The price of OPEC basket of fourteen crudes stood at $66.30 a barrel on Tuesday, 12 March 2019, compared with $66.01 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

  • US imports of Nigerian crude falls by 43%

    Posted On March 13, 2019 - 3:51 PM | by Oil and gas press -

    The United States (US) cut its imports of Nigerian crude oil by 48.87 million barrels or 43 per cent in 2018, according to the latest data released by the Energy Information Administration. US imports of Nigerian crude fell from 148.48 million barrels in 2012 to 87.40 million barrels in 2013 on the back of the […]

  • Petro Environment 2019

    Posted On March 13, 2019 - 3:29 PM | by Oil and gas press -

    Held for the third time in Saudi Arabia, the 25-year-old “Symposium and Exhibition on Environmental Progress in the Petroleum & Petrochemical Industry” hosted by the Environmental Technology & Management Association, gathers the oil and gas, and petrochemicals sectors for an interactive symposium and commercial exhibition. The event’s patron, HRH Prince Saud ibn Nayef ibn ‘Abd […]

  • Total’s Exploration prospects in Africa

    Posted On March 13, 2019 - 3:19 PM | by Oil and gas press -

    Total announced a significant achievement off the coast of South Africa: the discovery of an important gas condensate field on the Brulpadda (“bullfrog” in Afrikaans) prospect deep offshore. João Amaral, Vice President, General Affairs and Exploration Affiliates, Africa for Total Exploration & Production, discusses follow-up prospects to the recent discovery in South Africa. The Group’s […]

  • Commercial Operation at Stoneray Wind Project in Minnesota

    Posted On March 13, 2019 - 8:41 AM | by Oil and gas press -

    EDF Renewables North America announced that the 100 megawatt (MW) Stoneray Wind Project (Project) is fully operational. Located in Pipestone and Murray counties in Southwestern Minnesota, the Project consists of 39 wind turbines manufactured by Siemens Gamesa. The electricity generated by the project will be delivered to Southern Minnesota Municipal Power Agency (SMMPA) beginning in […]

  • Cheniere Partners Announces Substantial Completion of Train 5

    Posted On March 12, 2019 - 6:44 PM | by Oil and gas press -

    Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP) announced that Substantial Completion of Train 5 of the Sabine Pass liquefaction project in Cameron Parish, Louisiana (the “SPL Project”) was achieved on March 7, 2019. Commissioning has been completed and Cheniere Partners’ EPC partner Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) has turned over care, […]

  • Eni and Qatar Petroleum sign farm out agreement

    Posted On March 12, 2019 - 4:03 PM | by Oil and gas press -

    Eni and Qatar Petroleum signed a farm out agreement to enable Qatar Petroleum to acquire a 25.5% participating interest in Block A5-A, offshore Mozambique. The agreement is subject to the authorization by the Mozambican authorities. Block A5-A, located in the deep waters of the Northern Zambezi Basin, approximately 1,500 km north-east of the capital Maputo, […]

  • Cairn Announce Full Year Results 2018

    Posted On March 12, 2019 - 3:00 PM | by Oil and gas press -

    2018 Summary as follows Combined net production averaged ~17,500* boepd Oil and gas sales revenue US$396m, average realised price US$68 boe**; average production cost US$20.5 per mmboe Net cash inflow from oil and gas production US$229m Capital expenditure: cash outflow of US$252m***, remaining cash outflows post year end US$30m Year end Group cash US$66m; US$85m […]

  • Saudi Aramco Energy Ventures invests in Earth Science Analytics

    Posted On March 8, 2019 - 5:53 PM | by Oil and gas press -

    Earth Science Analytics AS, a Norwegian provider of artificial intelligence-based petroleum geospatial software, has closed a financing round A with Saudi Aramco Energy Ventures (SAEV). Saudi Aramco Energy Ventures is the corporate venture arm of Saudi Aramco, a world-leading integrated energy and chemical company. Earth Science Analytics is at the forefront of developing the next […]

  • ExxonMobil Sponsors Smithsonian’s Traveling Exhibition of Green Book History

    Posted On March 7, 2019 - 4:24 PM | by Oil and gas press -

    ExxonMobil said today that it will sponsor a Smithsonian Institution traveling exhibition showcasing the history of The Green Book, a guide for African-American travelers in the segregated United States of the mid-20th century. ExxonMobil predecessor Standard Oil Company of New Jersey was the only major retail distributor of The Green Book through its network of […]

  • Eni collaborates with LUISS Guido Carli University

    Posted On March 7, 2019 - 4:06 PM | by Oil and gas press -

    The agreement involves three collaborative programmes in the area of geopolitical training, orientation and analysis. The historic partnership between the energy company and the prestigious university named after Guido Carli has now been even further strengthened. The first area of collaboration envisaged by the agreement is the Sub-Saharan Africa Project, through which Eni will contribute […]

  • NNPC to Build, Fertilizer Plants in Bayelsa State

    Posted On March 7, 2019 - 1:06 PM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has expressed its preparedness to build additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano which is expected to add 4,0000 megawatts of power to stabilize the national grid. The National Oil Company also disclosed that it would construct a Fertilizer Project in Brass, Bayelsa State. Chief Financial […]

  • CNRL Announces Quarterly Dividend

    Posted On March 7, 2019 - 10:27 AM | by Oil and gas press -

    Canadian Natural Resources Limited announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.375 (thirty-seven and one half cents) per common share. The dividend will be payable April 1, 2019 to shareholders of record at the close of business on March 22, 2019. Canadian Natural is a senior […]

  • Eni and the Government of Ghana launch Project

    Posted On March 6, 2019 - 10:06 AM | by Oil and gas press -

    The Minister of Planning Prof. Gyan Baffour in representation of the President of Ghana Nana Akufo-Addo, the Krontihene of Dormaa Barimah Ansu Agyei, and Eni’s Executive Vice President for Sub-Saharan Africa Guido Brusco cut today in Kyeremasu, Dormaa East, Bono Region, the sod of a new training center for diversified agricultural development and entrepreneurship. The […]

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