News

  • Oil And Gas Accumulators Market Will Witness Substantial Growth

    Posted On September 18, 2018 - 10:34 AM | by Krutika Bhoot -

    Accumulator is a device used for storage of potential energy under high pressure through an external source, which could be a gas, spring, fluid, or piston. Accumulators are divided mainly into three types – weight-loaded or gravity accumulator, spring-loaded accumulator, and gas-loaded accumulator. Oil and gas accumulators are used for various purposes such as noise […]

  • The All-Electric Lucid Air

    Posted On September 18, 2018 - 9:05 AM | by Oil and gas press -

    Lucid’s proven world-class battery technology and highly efficient power electronics enable over 400 miles of range. Hitting top speeds or hugging tight corners, the Lucid Air’s perfectly calibrated air springs, advanced damper technology, and low center of gravity deliver precision handling and a smooth ride. Lucid’s powertrain technology unleashes breathtaking performance with world-class range and […]

  • BMW Group sales up slightly

    Posted On September 14, 2018 - 10:07 AM | by Oil and gas press -

    In August, the BMW Group sold a total of 173,454 BMW, MINI and Rolls-Royce vehicles around the world, an increase of 2.1% year-on-year. This means that in the first eight months of the year, deliveries rose 1.6% (1,597,021) compared with the same period last year. “Despite headwinds and a highly competitive situation in several important […]

  • Loughborough Announce partnership with Bajaj Auto

    Posted On September 13, 2018 - 12:02 PM | by Oil and gas press -

    Loughborough University has signed a three-year partnership with Bajaj Auto, one of the world’s largest manufacturers of motorcycles and three-wheeled vehicles. The collaboration will see selected employees from the company – based in India – join the University to study for a master’s degree. It is also hoped, over the course of the partnership, there […]

  • Maersk Drilling and Aker BP sign major contract

    Posted On September 12, 2018 - 2:26 PM | by Oil and gas press -

    Maersk Drilling and Aker BP have agreed to a one-year contract to deploy high-performance rig Maersk Integrator on the Norwegian shelf from June 2019. The contract is founded on the alliance that the parties entered into in 2017. The Maersk Integrator will become the first rig to be contracted fully under the scope of the […]

  • Neste’s Shareholders’ Nomination Board appointed

    Posted On September 12, 2018 - 2:01 PM | by Oil and gas press -

    The following members have been appointed to Neste’s Shareholders’ Nomination Board: The Chair, Senior Financial Counsellor Jarmo Väisänen of the Ownership Steering Department in the Prime Minister’s Office of Finland; President and CEO Jouko Pölönen of Ilmarinen Mutual Pension Insurance Company; Executive Vice-President Reima Rytsölä of Varma Mutual Pension Insurance Company and Matti Kähkönen, the […]

  • Sapura Energy in three farm-in deals

    Posted On September 12, 2018 - 1:26 PM | by Oil and gas press -

    Sapura Energy Bhd, via its wholly-owned subsidiary Sapura Upstream Sdn Bhd, has signed three farm-in agreements for offshore exploration permits held by private Australian oil and gas company, Finder Exploration Pty Ltd. Under the agreements, Sapura Upstream will acquire a 70% interest in the three exploration permits, and assume operatorship of the exploration, Sapura Energy […]

  • ENERGY NEWSTRACK TO 12/09/18

    Posted On September 12, 2018 - 11:39 AM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $76.02 a barrel on Tuesday, 11 September 2018, compared with $75.20 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 […]

  • 2018 Delo Tractor Restoration Competition Finalists Announced

    Posted On September 12, 2018 - 11:17 AM | by Oil and gas press -

    Chevron Products Company, a Chevron U.S.A. Inc. division, maker of the Delo® brand of technologically advanced engine oils, lubricants and coolants, has announced the finalists for its 2018 Delo Tractor Restoration Competition. The event brings the country’s top teen tractor restoration specialists to Indianapolis, IN – during the 90th National FFA (Future Farmers of America) […]

  • Trilateral gas talks of Russia, EU and Ukraine to begin in Brussels on Today

    Posted On September 12, 2018 - 10:53 AM | by Oil and gas press -

    Expert-level gas talks involving the European Union, Russia and Ukraine will begin in Brussels on Wednesday, September 12, European Commission Spokesperson Anna-Kaisa Itkonen told TASS on Tuesday. “The talks will start tomorrow afternoon,” she said, without elaborating on who will take part in the consultations. In 2009, Gazprom and Naftogaz of Ukraine signed two contracts […]

  • Sustainable Flying

    Posted On September 11, 2018 - 11:06 AM | by Oil and gas press -

    Neste and Alaska Airlines grow innovative partnership to fly more sustainably As part of Alaska Airlines’ ongoing efforts to fly greener and expand the use of sustainable aviation fuels, Neste and Alaska Airlines have signed a Memorandum of Understanding (MOU). In addition to Alaska’s efforts to increase fuel-efficiency and adopt innovative flight technology, the agreement […]

  • $139bn bonanza in pipeline for oil services providers in Middle East

    Posted On September 11, 2018 - 9:59 AM | by Oil and gas press -

    GCC and global oil services and equipment providers are cashing in on an upswing in capital spending in Middle Eastern oil and gas-producing countries, senior executives have told Arab News . There has been a flurry of deals during the summer, bolstering market sentiment and investment, they said. Steve Connolly, regional managing director for Altrad […]

  • Eni’s CEO meets with Iraqi Oil Minister

    Posted On September 10, 2018 - 1:34 PM | by Oil and gas press -

    The oil minister of Iraq, Jabbar Ali Hussein Luaibi, and the Chief Executive Officer of Eni, Claudio Descalzi met in Baghdad yesterday. During the meeting Eni’s CEO had the opportunity to outline the Company’s current activities in the country in light of the recent achievements of the Zubair field development, where the production has grown […]

  • ADNOC Commissioning New Unit to Extract Maximum Value from Heavy Oils and Slurry

    Posted On September 10, 2018 - 10:04 AM | by Oil and gas press -

    ADNOC Refining, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), announced, it has successfully completed the commissioning of a specialized coker unit, as part of its Carbon Black and Coker Project. With this, ADNOC will extract the maximum value from ‘bottom-of-the-barrel’ heavy oils and slurry, as it delivers on its aggressive Downstream strategy. […]

  • ENERGY NEWSTRACK TO 06/09/18:

    Posted On September 6, 2018 - 3:25 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $75.18 a barrel on Wednesday, 5 September 2018, compared with $76.32 the previous day, according to OPEC Secretariat calculation. Includes: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait […]

  • Africa Oil Week 2018 announces partnership with SuperReturn Africa

    Posted On September 6, 2018 - 1:28 PM | by Oil and gas press -

    Africa Oil Week has announced their partnership with SuperReturn. This new partnership offers delegates attending SuperReturn Africa, the continent’s biggest investor conference, access to Africa Oil Week on Thursday 8 November 2018. For operators across the continent, raising capital remains one of the biggest challenges; whether it is funding exploration and production, or financing key […]

  • Equinor’s Execution of debt capital market transactions

    Posted On September 6, 2018 - 1:13 PM | by Oil and gas press -

    On Wednesday September 5, 2018 Equinor ASA (OSE:EQNR, NYSE:EQNR), guaranteed by Equinor Energy AS, executed the following debt capital market transactions: – Issue of USD 1,000,000,000 3.625% Notes due September 10, 2028 The net proceeds from the issue of the Notes will be used for general corporate purposes which may include repayment or purchase of […]

  • Total sells its interest in the Joslyn oil sands project to CNRL

    Posted On September 5, 2018 - 7:28 PM | by Oil and gas press -

    Total, together with its partners, has agreed to sell the Joslyn oil sands project in Alberta, Canada, to Canadian Natural Resources Limited (CNRL) for an overall consideration of 225 million Canadian dollars. The closing of the transaction is subject to authorization by the Canadian Competition Bureau. The Joslyn project partners are Total (operator, 38.25%), Suncor […]

  • Eni Announce fixed rate bond offering

    Posted On September 5, 2018 - 7:22 PM | by Oil and gas press -

    The launch of the transaction is subject to market conditions and the offering is restricted to institutional investors only. PRICE SENSITIVE Source / More : Eni Oil and Gas News Undiluted !!! “Oil is well”

  • Oil demand will remain positive for the foreseeable future

    Posted On September 5, 2018 - 11:05 AM | by Oil and gas press -

    Speaking on the opening day of the Offshore Northern Seas (ONS) 2018 conference, Nasir K. Al-Naimi, vice president of Petroleum Engineering and Development with Saudi Aramco, underlined that the energy industry’s short-term challenges should not come at the expense of long-term goals. “There is no question, the global energy market is in a state of […]

  • Panoro Announces Oil Discovery at Dussafu, Offshore Gabon

    Posted On September 5, 2018 - 10:53 AM | by Oil and gas press -

    Panoro Energy (OSE ticker: “PEN”) announced an oil discovery in the Ruche North East Marin-1 (“DRNEM-1”) well drilled in the Dussafu Marin PSC, offshore Gabon. The DRNEM-1 well was drilled to identify additional oil resources in the pre-salt Gamba and Dentale Formations in the greater Ruche area, and completed within budget. These resources may be […]

  • Henry Hub Natural Gas Futures Open Interest Reaches Record 1.62 Million Contracts

    Posted On September 5, 2018 - 10:20 AM | by Oil and gas press -

    CME Group announced Henry Hub Natural Gas futures open interest reached a record 1,617,589 contracts on Friday, August 31, surpassing the previous record of 1,606,874 contracts set on August 17, 2018. Open interest represents the total number of outstanding positions held by all participants in a given market. Nine of the top 10 Henry Hub […]

  • Neste appoints New MD for Neste Engineering Solutions

    Posted On September 5, 2018 - 10:17 AM | by Oil and gas press -

    Patrick von Essen, M.Sc., (Engineering), 54, has been appointed Managing Director of Neste Engineering Solutions. He will report to Neste Corporation’s President and CEO, and he will join Neste in December 2018 at the latest. Von Essen will transfer to Neste from Dovre Group, where he has served as CEO since 2014. Prior to Dovre, […]

  • JV Partners to Construct,”Permian Gulf Coast” or “PGC” Pipeline

    Posted On September 4, 2018 - 3:23 PM | by Oil and gas press -

    Energy Transfer Partners, L.P. (NYSE: ETP) (“Energy Transfer”), Magellan Midstream Partners, L.P. (NYSE: MMP) (“Magellan”), MPLX LP (NYSE: MPLX) (“MPLX”) and Delek US Holdings, Inc. (NYSE: DK) (“Delek”) announced today that they have received sufficient commitments to proceed with plans to construct a new 30-inch diameter common carrier pipeline to transport crude oil from the […]

  • Neste acquires majority shares of Demeter

    Posted On September 3, 2018 - 11:48 AM | by Oil and gas press -

    In May 2018 it was announced that Neste intends to acquire 51% shares of IH Demeter B.V., a trader of animal fats and proteins. The acquisition has been approved by regulatory authorities, and the deal has been closed. Neste owns 51 % of the shares of IH Demeter B.V., making Neste the controlling shareholder. The […]

  • Sankofa gas deliveries to Ghana’s power producers

    Posted On September 1, 2018 - 11:02 AM | by Oil and gas press -

    Offshore Cape Three Points (OCTP) has started delivery of gas from the Sankofa field to GNPC, marking the beginning of stable supplies of cost effective and environmentally friendly, domestic fuel for Ghana’s power sector. In addition, Ghana will benefit significantly from GNPC’s carried and participating interest in the project, Ghana’s royalty share of oil and […]

  • S. America’s offshore boom accelerates in Guyana and Brazil

    Posted On August 31, 2018 - 7:50 PM | by Oil and gas press -

    South America’s upstream sector of the past conjures images of the onshore heavy oil fields of Colombia and Venezuela. But in recent years, regional activity has pivoted offshore, where repeated success in Guyana and world-class productivity in Brazil have elevated offshore South America to its status as a top investment destination. Since 2015, Brazil and […]

  • 2018 Aker Energy-GNPC Scholarship Programme

    Posted On August 31, 2018 - 12:54 PM | by Oil and gas press -

    150 academically promising students from low-income backgrounds will be awarded scholarship packages through the 2018 Aker Energy-GNPC Scholarship Programme, as the selection process for talents opens at a launch in Takoradi on 5 September. “We are pleased to launch the 2018 scholars programme together with GNPC. Stakeholder dialogues have shown us that education stands out […]

  • Hess Completes Sale of Utica Acreage

    Posted On August 31, 2018 - 12:44 PM | by Oil and gas press -

    Hess Corporation (NYSE: HES) today announced that it has completed the previously announced sale of its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash consideration of approximately $400 million, effective April 1. Proceeds from this transaction will be used to invest in the […]

  • Wintershall Tasks Europe to secure future energy supply

    Posted On August 31, 2018 - 9:03 AM | by Oil and gas press -

    Mario Mehren, CEO of Wintershall, Commented at Norway’s largest energy conference and exhibition, Offshore Northern Seas (ONS) in Stavanger. “Europe needs to be aware of its strengths and must tackle the new political and economic challenges in concert. Only through closely collaborating with our neighbors can we guarantee supply security today and in the future,” […]

  • ENERGY NEWSTRACK TO 31/08/18:

    Posted On August 31, 2018 - 8:46 AM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $75.72 a barrel on Thursday, 30 August 2018, compared with $74.48 the previous day, according to OPEC Secretariat calculations. Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export […]

  • Eisenbau Krämer announces equipment investment as confidence returns to oil and gas

    Posted On August 30, 2018 - 5:46 PM | by Oil and gas press -

    Eisenbau Krämer (EBK), the world-renowned specialist in longitudinally welded steel pipe, has announced a multi million euro investment in equipment to enhance its products and services offering. The investment programme across the company’s three production bases in Germany coincides with signs of a recovery in the global oil and gas industry and EBK’s commitment to […]

  • npower merge with SSE

    Posted On August 30, 2018 - 3:48 PM | by Oil and gas press -

    npower’s parent company, innogy SE, has announced that it proposes to merge npower with SSE’s household energy and energy services business in Great Britain to form a major, independent British retail energy company. The new company will have a premium listing on the London Stock Exchange and innogy will hold a minority stake of 34.4%, […]

  • innogy sell 41% share of its Triton Knoll Offshore Wind Farm

    Posted On August 30, 2018 - 3:31 PM | by Oil and gas press -

    As an integral part of the company’s strategy to pursue a partnership-based approach to realiselarge-scale offshore wind farms, innogy SE, through its subsidiary Innogy Renewables UK Ltd.,has signed an agreement under which the company will sell 41% of its Triton Knoll Offshore Wind Farmto Electric Power Development Co., Ltd. (operating under the name J-Power; 25%), […]

  • NNPC Considering Setting up Bunkering Company

    Posted On August 30, 2018 - 2:10 PM | by Oil and gas press -

    In a bid to consolidate its foothold on the shipping business in Nigeria and boost profitability, the Nigerian National Petroleum Corporation (NNPC), has unveiled plans to set up a subsidiary to provide refueling services to ships and other ocean-going vessels. A statement by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, […]

  • Nigeria Could Lose OPEC Status If It Signs New Oil Bill

    Posted On August 30, 2018 - 12:44 PM | by Oil and gas press -

    While Nigeria’s President Muhammadu Buhari is said to be withholding signing the country’s new petroleum bill into law over concerns that it strips the president of powers over the industry, a former manager at the Nigerian National Petroleum Corporation (NNPC) warns that Nigeria could lose its membership in OPEC if the bill becomes law. If […]

  • Symbion Power’s Lake Kivu Power Projects

    Posted On August 30, 2018 - 9:24 AM | by Oil and gas press -

    Clarke Energy to Provide Approximately 25 of GE’s Jenbacher Gas Engines for Symbion Power’s Kivu 56 and KP1 Power Plants in Rwanda; Two Power Projects at Lake Kivu Will Increase Capacity by 81 Megawatts and Significantly Reduce the Current Cost of Generation in Rwanda; Clarke Energy Will Create New Jobs in Rwanda to Service GE’s […]

  • Saudi Aramco collaborates with M.V. Lomonosov Moscow State University

    Posted On August 29, 2018 - 3:32 PM | by Oil and gas press -

    Saudi Aramco Upstream Technology Company (SAUTC), a Saudi Aramco company, has signed a memorandum of understanding (MoU) with Russia’s Lomonosov Moscow State University (MSU) to promote cooperation in the area of joint research, primarily to explore oil and gas industry innovation with specific focus on upstream technology. Under the MOU, Saudi Aramco and MSU will […]

  • South Sudan Restarts Oil Production At Major Oil Field

    Posted On August 28, 2018 - 4:06 PM | by Oil and gas press -

    South Sudan has resumed production from the Toma South oilfield, Reuters reports, quoting the Oil Minister of neighbor Sudan, Azhari Abdulqader. Production at the field was suspended in 2013 amid Sudan’s bloody civil war. The field is producing at a rate of 20,000 bpd, adding to South Sudan’s overall daily average of 130,000 bpd, which […]

  • Equinor Announce dividend per share for the first quarter 2018 in NOK

    Posted On August 28, 2018 - 3:41 PM | by Oil and gas press -

    Equinor (OSE: EQNR, NYSE: EQNR) announced 25 April 2018 dividend per share of USD 0.23 for first quarter 2018. The NOK dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 22 August 2018, in total seven business days. Average Norges Bank […]

  • ENERGY NEWSTRACK TO 28/08/18

    Posted On August 28, 2018 - 1:44 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $74.09 a barrel on Monday, 27 August 2018, compared with $74.02 the previous Friday, according to OPEC Secretariat calculations. Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export […]

  • European airlines to halt flights to Iran

    Posted On August 24, 2018 - 5:36 PM | by Oil and gas press -

    British Airways will operate its last flight from Tehran on September 23rd. KLM will stop flying there from Amsterdam on September 24. Air France will end flights from Paris on September 18. The move comes just months after US President Donald Trump withdrew from the nuclear deal between Iran and began restoring U.S. sanctions. Oil […]

  • China Slaps 25% Tariff On U.S. Oil Products

    Posted On August 24, 2018 - 3:46 PM | by Oil and gas press -

    China’s latest round of tariffs in response to U.S. tariffs on US$16 billion worth of Chinese goods entered into force today despite talks this week between U.S. and Chinese officials seeking to put an end to the trade dispute. The list of U.S. products this time includes oil products and coal for the first time, […]

  • Offshore Wind Consultants Opens office in Taiwan

    Posted On August 24, 2018 - 2:01 PM | by Oil and gas press -

    Offshore Wind Consultants (OWC), a company wholly owned by Aqualis ASA, has established a new office in Taiwan to support the fast growing Taiwanese offshore wind sector. OWC is an independent engineering consultancy focused on the development and realisation of offshore renewables technology and projects. Offshore Wind Consultants Taiwan Co., Limited will offer offshore wind […]

  • Uganda promotes oil and gas projects at Africa Oil Week 2018

    Posted On August 24, 2018 - 12:49 PM | by Oil and gas press -

    Hon Irene Muloni, the Minister of Energy and Mineral Development, in the Republic of Uganda will lead a delegation of private and public-sector players from Uganda’s oil and gas sector to the Africa Oil Week 2018 , which will be held between 5 – 9 November, 2018 in Cape Town, South Africa. Hon Muloni said, […]

  • ENERGY NEWSTRACK TO 23/08/18:

    Posted On August 23, 2018 - 1:17 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $71.75 a barrel on Wednesday, 22 August 2018, compared with $71.01 the previous day, according to OPEC Secretariat calculations. Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export […]

  • Golar LNG Dividend

    Posted On August 23, 2018 - 1:05 PM | by Oil and gas press -

    Golar LNG has declared a total dividend of $0.125 per share to be paid on October 3, 2018. The record date will be September 6, 2018. Source / More : Golar LNG Limited,

  • Cairn Oil & Gas, Vedanta Limited Awards Contract to BHGE

    Posted On August 22, 2018 - 2:12 PM | by Oil and gas press -

    Baker Hughes, a GE company (NYSE: BHGE) has been awarded a development contract by Cairn Oil & Gas, Vedanta Limited to construct approx. 300 new wells and deploy a chemical EOR program aimed at increasing production from the Rajasthan area. The project marks the largest integrated project for BHGE in India, expanding its presence in […]

  • Ambev Partnership with Volkswagen involves 1,600 clean energy-powered vehicles

    Posted On August 22, 2018 - 1:11 PM | by Oil and gas press -

    Ambev, owner of brands such as Skol, Brahma, Antarctica and Guaraná, announced that by 2023, it will use 1,600 electric trucks made by Volkswagen Caminhões e Ônibus to transport beverages. With the partnership, about 35% of the fleet serving the brewery will consist of clean energy-powered vehicles, no longer emitting over 30.4K tons of carbon […]

  • PDVSA Settles With ConocoPhillips

    Posted On August 22, 2018 - 11:39 AM | by Oil and gas press -

    PDVSA settled with ConocoPhillips on Monday over an outstanding debt issue, a move that the Venezuelan oil company surely hopes will give it some breathing room even as the nation continues to crumble. Earlier this year, Conoco won an international arbitration award resulting from the 2007 assets seizure by Venezuela. Conoco quickly moved to lay […]

  • Zion Oil & Gas Administrative Update

    Posted On August 22, 2018 - 8:30 AM | by Oil and gas press -

    Zion Oil & Gas, Inc. (NASDAQ: ZN) gives further guidance of operational and administrative plans as it announces a new Unit Program under its ongoing Direct Stock Purchase Plan (DSPP). “Following up on the detailed operational update that was released on August 16th, we reiterate the fact that there is a lot of work left […]

  • ENERGY NEWSTRACK TO 20/08/18:

    Posted On August 20, 2018 - 2:07 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $70.27 a barrel on Friday, 17 August 2018, compared with $69.47 the previous day, according to OPEC Secretariat calculations Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export […]

  • Petrobras and Ensco Announce Settlement Agreement

    Posted On August 17, 2018 - 12:43 PM | by Oil and gas press -

    Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement. While the terms of the agreement are confidential, no payments will be made by either party in connection with this settlement. The parties also agreed to normalize business relations. As a result, […]

  • ENERGY NEWSTRACK To 15/08/18

    Posted On August 15, 2018 - 11:47 AM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $70.97 a barrel on Monday, 13 August 2018, compared with $70.60 the previous Friday, according to OPEC Secretariat calculations ———————————————————————————————————– Bitcoin dips below $6,000 amid cryptocurrency sell-off The total cryptocurrency market capitalization has dropped by $19 billion in the past 24 hours. ———————————————————————————————————– Volkswagen might […]

  • Equinor and The Arctic Race of Norway

    Posted On August 15, 2018 - 8:17 AM | by Oil and gas press -

    Arctic Race of Norway and Equinor announced that they will continue their partnership until 2021 and will strengthen Equinor’s positioning as the main partner of the event. Their core focus is to encourage cooperation and development at the local and regional level in Northern Norway, as well as to inspire generations of young talents. Showcasing […]

  • Saudis want to fund Tesla buyout

    Posted On August 14, 2018 - 5:05 PM | by Oil and gas press -

    Tesla CEO Elon Musk is facing increasing pressure to explain his plan to take the company private — including lawsuits and the threat of an SEC investigation — after tweeting last week that he had “funding secured”for the move. On Monday he hit back with a blog post explaining that the capital would come from […]

  • Eni Acquires new exploration license offshore Egypt

    Posted On August 14, 2018 - 2:12 PM | by Oil and gas press -

    Eni announced that a new Concession Agreement, aimed at governing an offshore exploration license in the prolific East Nile Delta Basin of the Mediterranean Sea, has received approval by Egyptian authorities. The exploration license, named “Nour”, is located approximately 50 km offshore in the Eastern Mediterranean, in water depth ranging from 50 to 400 meters, […]

  • Saudi Aramco Buys remaining 50 percent stake in ARLANXEO

    Posted On August 13, 2018 - 12:47 PM | by Oil and gas press -

    Saudi Aramco and specialty chemicals company, LANXESS,announced Saudi Aramco’s proposed acquisition of LANXESS‘s interest in ARLANXEO, a Netherlands-based specialty chemicals joint venture between Saudi Aramco and LANXESS launched in 2016. Saudi Aramco’s proposed purchase of LANXESS’s 50% share in ARLANXEO would result in Saudi Aramco owning 100% of ARLANXEO, diversify Saudi Aramco’s downstream portfolio at […]

  • Saudi Aramco appoints New SVP of Finance, Strategy & Development

    Posted On August 13, 2018 - 12:33 PM | by Oil and gas press -

    Khalid H. Al-Dabbagh was appointed senior vice president of Finance, Strategy & Development by Saudi Aramco Board of Directors, effective Sept. 1, 2018. Al-Dabbagh has been the company’s financial controller since January 2012. He was responsible for Saudi Aramco’s global accounting activities, issuance of the annual financial report and the maintenance of effective internal controls. […]

  • Northern New Energy Announces Interim Results

    Posted On August 13, 2018 - 12:15 PM | by Oil and gas press -

    Northern New Energy Holdings Limited (“Northern New Energy” / the “Company”; stock code: 8246) announced the interim results for the six months ended 30 June 2018 (“the Current Period”). The Group adopted the dual-track development business strategy for its two business segments – the New energy business and the Catering business. It continued to gradually […]

  • CME Group Declares Quarterly Dividend

    Posted On August 9, 2018 - 10:26 AM | by Oil and gas press -

    CME Group Inc., the world’s leading and most diverse derivatives marketplace, today declared a third-quarter dividend of $0.70 per share, payable September 25, 2018, to shareholders of record as of September 10, 2018. Source / More : www.cmegroup.com

  • Apache Corporation announces $1 million challenge grant

    Posted On August 8, 2018 - 2:40 PM | by Oil and gas press -

    Texas Parks and Wildlife Foundation (TPWF) has established a fund to raise $2 million for pool repairs at Balmorhea State Park. Apache Corporation is providing a challenge grant and will match gifts up to $1 million. The iconic spring-fed pool at Balmorhea State Park in West Texas has been closed since early May after part […]

  • ENERGY NEWS HIGHLIGHTS WEEK of 08/08/18

    Posted On August 8, 2018 - 10:55 AM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $72.27 a barrel on Monday, 6 August 2018, compared with $72.07 the previous Friday, according to OPEC Secretariat calculations. The price of OPEC basket of fifteen crudes stood at $72.58 a barrel on Tuesday, 7 August 2018, according to OPEC Secretariat calculations. ———————————————————————————————————– China’s Oil […]

  • Nigerian FM Receives Saudi Ambassador

    Posted On August 7, 2018 - 6:24 PM | by Oil and gas press -

    Nigerian Foreign Minister Geoffrey Onyeama received here today the Saudi Ambassador to Nigeria Adnan Boustaji. During the meeting, they discussed bilateral relations and means to promote them, in all fields, in addition to review issues of mutual interest. At the end of the encounter, the minister congratulated the diplomat on being appointed to the post […]

  • Saudi Arabia suspends flights to Toronto

    Posted On August 7, 2018 - 5:30 PM | by Oil and gas press -

    Saudi Arabia’s state airline has announced plans to suspend flights to and from Toronto as the diplomatic spat with Canada escalates. The Kingdom expelled the Canadian Ambassador on Monday, recalling the Saudi ambassador from Ottawa. New business deals and investment prospects between the two countries were also frozen. Canada had criticised the imprisonment of women’s […]

  • NNPC to seek alternative financing models for funding its Joint Venture (JV) obligations

    Posted On August 7, 2018 - 10:33 AM | by Oil and gas press -

    The decision by the Nigerian National Petroleum Corporation (NNPC) to seek alternative financing models for funding its Joint Venture (JV) obligations has continued to restore confidence among investors and stimulate further Foreign Direct Investments (FDI) in the nation’s oil and gas industry. Group Managing Director of the Corporation, Dr. Maikanti Baru, disclosed this while speaking […]

  • KAMAZ, gas-fueled Truck with a 16.16-liter engine

    Posted On August 7, 2018 - 9:37 AM | by Oil and gas press -

    A new modification of the gas-fueled KAMAZ with a 16.16-liter engine and third-generation gas equipment had been made by the KAMAZ-Master team for the Silk Way Rally 2018. The new vehicle had successfully traveled seven stages of the marathon, covering some 3,500 kilometers. On July 27, the Russian part of the Silk Way Rally 2018 […]

  • NNPC Not Involved in Nigeria National Assembly Politics

    Posted On August 6, 2018 - 9:25 AM | by Oil and gas press -

    The Management of the Nigerian National Petroleum Corporation (NNPC) has distanced the national oil company and its Group Managing Director, Dr. Maikanti Baru from the ongoing political tango in the National Assembly and the trending reports in some section of the media insinuating that the Corporation’s helmsman had doled out funds to effect the impeachment […]

  • NLNG Strives to become 3rd world largest exporter of gas

    Posted On August 6, 2018 - 9:20 AM | by Oil and gas press -

    Nigeria Liquefied Natural Gas (NLNG) Ltd., says its ongoing plans to reach a Final Investment Decision (FID) on its Train-7 project by December will make Nigeria the world’s third largest gas exporter. The NLNG General Manager Production, Tayo Ogini, said this on Saturday while making a presentation on the facility located at Bonny Island. The […]

  • Saudi Aramco launches State-of-the-art Well Control School

    Posted On August 3, 2018 - 11:38 AM | by Oil and gas press -

    A new state-of-the-art facility recently launched by our Drilling and Workover (D&WO) Training Division has doubled the number of participants the organization can bring in to meet Saudi Aramco’s demand, all while enhancing the learning experience and exceeding international standards in well control training. Ambitious beginnings Planned, developed, and implemented over a number of phases, […]

  • Regional Energy Co-operation Summit (RECS): West in Ghana

    Posted On August 2, 2018 - 4:54 PM | by Oil and gas press -

    EnergyNet will host the third Regional Energy Co-operation Summit (RECS): West in Ghana from 26-28 September 2018 – exploring business opportunities in the WAPP regional electricity market and the impact that anchor energy projects will have on regional energy development. RECS: WEST is held with the official endorsement and participation of Honourable Boakye Agyarko, Minister […]

  • Balloki Power Plant

    Posted On August 2, 2018 - 12:44 PM | by Oil and gas press -

    National Power Parks Management Company Limited (NPPMCL), Harbin Electric International Company Limited (HEI) and GE (NYSE: GE) announced the completion of the Balloki power plant, following the successful conclusion of all commissioning works and performance-related tests. Rashid Mahmood, CEO of NPPMCL said, “I am proud to announce that the Balloki project is now able to […]

  • CME Group Averaged 13.5 Million Contracts Per Day in July 2018

    Posted On August 2, 2018 - 11:48 AM | by Oil and gas press -

    CME Group, the world’s leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 13.5 million contracts during July 2018. Energy volume averaged 2.2 million contracts per day in July 2018, down 16 percent from July 2017. Highlights include: • Brent Crude Oil futures and options ADV increased 23 percent to 94,000 contracts […]

  • IOC Commends Nigerian FG, NNPC on Improved Security

    Posted On August 2, 2018 - 6:51 AM | by Oil and gas press -

    The Federal Government and the management of the Nigerian National Petroleum Corporation (NNPC) have been commended for the improved security situation in the Niger Delta which has rubbed off positively on the operations of international oil companies. This commendation was given by the Chief Operating Officer, Upstream, Eni, Mr. Antonio Vella, when he led the […]

  • Transocean Extend Henry Goodrich Contract

    Posted On August 1, 2018 - 1:37 PM | by Oil and gas press -

    Transocean Ltd. (NYSE: RIG) announced that the harsh environment semisubmersible Henry Goodrich was awarded a one-year contract extension offshore Eastern Canada with Husky Oil Operations Limited. The estimated contract backlog, excluding bonus opportunities, is approximately $100 million. The contract is expected to commence in the fourth quarter of 2018. Source / More : Transocean Oil […]

  • Halliburton Acquires Athlon Solutions

    Posted On August 1, 2018 - 1:34 PM | by Oil and gas press -

    Halliburton Company (NYSE: HAL) announced the acquisition of Athlon Solutions, LLC, a leading provider of specialty water and process treatment chemicals, customized engineering solutions, and services. Athlon will become part of the Halliburton Multi-Chem business line, a provider of specialty oilfield chemicals for stimulation, midstream, and production customers. Combining the two companies will strengthen Halliburton’s […]

  • ENERGY HIGHLIGHTS TO 31/07/18

    Posted On July 31, 2018 - 2:52 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $73.53 a barrel on Monday, 30 July 2018, compared with $73.69 the previous Friday, according to OPEC Secretariat calculations. ———————————————————————————————————– OPEC Oil Production Hits 2018 High In July By Tsvetana Paraskova, Oilprice.com. OPEC’s oil production jumped to a 2018 high in July, as Saudi Arabia […]

  • SEA Awarded Engineering ServicesContract

    Posted On July 31, 2018 - 1:06 PM | by Oil and gas press -

    Subsea Engineering Associates Pty Ltd (SEA) has been awarded the contract for Define Phase engineering services for the Scarborough Development Export Trunkline from Woodside Energy Limited. This will enable SEA to utilise the award winning ICE Platform, and enable rapid delivery of engineering and a mature digital basis of design to be carried into FEED. […]

  • Eland Oil & Gas update on the Opuama-10 well on Opuama Field, OML 40

    Posted On July 31, 2018 - 12:13 PM | by Oil and gas press -

    Opuama-10 has been drilled to a total true vertical depth of 8,121 feet, measured depth of 10,135 feet. The rig is currently cementing 9-5/8 casing which will complete today. The well encountered six oil-bearing reservoirs. Total net pay, in the six oil-bearing reservoirs, is 307 feet apparent vertical thickness. The short string will be completed […]

  • INPEX;s Ichthys LNG Project Commences Production

    Posted On July 30, 2018 - 9:58 PM | by Oil and gas press -

    INPEX CORPORATION (INPEX) announced today that the INPEX-operated Ichthys LNG Project’s (the Project) has commenced production of gas from the wellhead following the completion of final safety verifications including additional verifications concerning electrical equipment. The produced gas will be gathered within the Central Processing Facility (Ichthys Explorer) where it will be separated into gases and […]

  • Offshore Production Starts Up at Ichthys LNG Project

    Posted On July 30, 2018 - 9:58 AM | by Oil and gas press -

    The Ichthys LNG Project reached a major milestone on July 27 with the opening of the first offshore production well, marking the start of 40 years of operations of this gas and condensate field. At full capacity, the offshore facilities are expected to produce 1,600 mmscfd of gas (285,000 barrels of oil equivalent per day) […]

  • Dril-Quip, Inc. Announces Second Quarter 2018 Results

    Posted On July 27, 2018 - 2:37 PM | by Oil and gas press -

    Consolidated revenue was down $4.3 million quarter-on-quarter, a decrease of 4% and in line with Company guidance. Western Hemisphere revenue increased sequentially by $3.6 million, or 6%. This was primarily driven by higher fabricated joint sales and increased service activity. Eastern Hemisphere revenue decreased sequentially by $6.8 million, or 23%, largely due to lower book […]

  • New Ethane Cracker in Baytown, Texas

    Posted On July 27, 2018 - 12:26 PM | by Oil and gas press -

    ExxonMobil said that operations have commenced at its new 1.5 million ton-per-year ethane cracker at the company’s integrated Baytown chemical and refining complex. The new cracker, part of ExxonMobil’s Growing the Gulf initiative, will provide ethylene feedstock to new performance polyethylene lines at the company’s Mont Belvieu plastics plant, which began production in the fall […]

  • Saudi Aramco on today’s attack on two Bahri Very Large Crude Carrier (VLCC)

    Posted On July 26, 2018 - 3:23 PM | by Oil and gas press -

    As confirmed a short while ago by the Saudi Minister of Energy, Industry and Mineral Resources, H.E. Khalid Al-Falih, two Very Large Crude Carriers (VLCCs), each with a two million barrels capacity, operated by the Saudi National Shipping Company, Bahri, and transporting Saudi Aramco crude oil were attacked by terrorist Houthi militia this morning in […]

  • Europe to Become ‘Massive’ Buyer of U.S. LNG – Trump

    Posted On July 26, 2018 - 2:58 PM | by Oil and gas press -

    The United States and and European Union agreed to work towards facilitating more U.S. natural gas shipments to the Continent. Europe will build more terminals to import U.S. liquefied natural gas, the head of the European Commission told U.S. President Donald Trump during a meeting aimed at averting a transatlantic trade war. “They want very […]

  • Iran Now Gas Odorant Producer

    Posted On July 26, 2018 - 1:40 PM | by Oil and gas press -

    Iran has reportedly joined France and Russia as the third producer of gas odorant, mercaptan, an official said. Mercaptan is used in the natural gas industry as an odorant, due to its ideal compatibility with methane. Its characteristic “rotten eggs” smell is widely known by natural gas customers as an indicator of a possible gas […]

  • Sale of Concessions in the Deepwater Sergipe Basin

    Posted On July 26, 2018 - 11:30 AM | by Oil and gas press -

    Petróleo Brasileiro S.A. – Petrobras, further to the material fact of 05/23/2018 , informs the beginning of the binding phase related to the partial sale, without transfer of operatorship, of its exploration, development and production rights in four concessions, BM-SEAL-4, BM-SEAL-4A, BM-SEAL-10 e BM-SEAL-11, located in the Deepwater Sergipe-Alagoas Basin. At this stage of the […]

  • Commerciality of the Entorno de Sapinhoá Area

    Posted On July 26, 2018 - 11:27 AM | by Oil and gas press -

    Petrobras, as the operator, on behalf of the consortium of Entorno de Sapinhoá, reports that it submitted yesterday the declarations of commerciality to the National Agency of Petroleum, Natural Gas and Biofuels (ANP) regarding oil accumulations located in areas adjacent to the Sapinhoá field, in the pre-salt layer of the Santos Basin. The Entorno de […]

  • Tullow Oil stops all operations in its Kenyan oil fields

    Posted On July 26, 2018 - 9:22 AM | by Oil and gas press -

    Tullow Oil has stopped all operations in its Kenyan oil fields, citing unaddressed security fears as local hostility mounts. Tullow Oil had threatened over the weekend to shut down its oil wells in the Lokichar basin if the government does not act soon to remedy production, security, and transportation problems. Tullow pulled the trigger not […]

  • Oil Jobs Under Threat From Drones

    Posted On July 26, 2018 - 8:29 AM | by Oil and gas press -

    The drones are coming to oil and gas and they may soon be intelligent enough to replace humans in on-site inspections. That’s what the latest experiments carried out by drone makers in the oil field suggest, with the drone makers boasting much shorter inspection times and comparable inspection accuracy. Right now, time and accuracy of […]

  • IMF Managing Director Christine Lagarde on the US–EU Meeting

    Posted On July 26, 2018 - 8:03 AM | by Oil and gas press -

    IMF Managing Director Christine Lagarde issued the following statement today: “I am pleased to learn that the United States and European Union reached agreement today to work jointly to reduce trade barriers and, together with other partners, strengthen the WTO. The global economy can only benefit when countries engage constructively to resolve trade and investment […]

  • Chevron Announces Quarterly Dividend

    Posted On July 26, 2018 - 7:58 AM | by Oil and gas press -

    The Board of Directors of Chevron Corporation (NYSE: CVX) declared a quarterly dividend of one dollar and twelve cents($1.12) per share, payable September 10, 2018, to all holders of common stock as shown on the transfer records of the Corporation at the close of business August 17, 2018. Source / Further information : Chevron Oil […]

  • Floating dock with 40,000 t lifting capacity delivered on Zvezda Shipyard

    Posted On July 25, 2018 - 3:56 PM | by Oil and gas press -

    A floating transfer dock with a lifting capacity of 40,000 tonnes has been delivered and moored to the berth of Zvezda Shipbuilding Complex. The floating transfer dock is one of the shipyard’s key elements. It is designed for heaving off large-sized marine vessels 300 m in length and over 50 m in width with a […]

  • “SILK ROAD” RALLY

    Posted On July 25, 2018 - 3:33 PM | by Oil and gas press -

    Gazprom Neft filling station network has become the official fuel supplier to the 2018 international “Silk Road” rally, with the company supplying more than 150,000 litres of its “Opti” motor fuel in refuelling the competition and support vehicles of participating teams. The first phase of the “Silk Road” rally-raid marathon started on 20 July 2018 […]

  • CUADRILLA GRANTED FINAL HYDRAULIC FRACTURING CONSENT

    Posted On July 25, 2018 - 3:10 PM | by Oil and gas press -

    Cuadrilla has received final hydraulic fracture consent from the Department for Business, Energy & Industrial Strategy (BEIS) for its first horizontal shale gas exploration well at its Preston New Road site in Lancashire. All other relevant planning and permits required were already secured. The company is now in the process of preparing to apply for […]

  • Tap Oil to Identify Manora Exploration Potential

    Posted On July 25, 2018 - 2:49 PM | by Oil and gas press -

    Tap Oil Limited (ASX:TAP) (Tap Oil or the Company) recently engaged Perth based consulting group Discover Geoscience (Discover) to undertake an evaluation of the area surrounding the Manora Oil Field within the G1/48 concession, with a particular focus on identifying new exploration opportunities. This engagement with Discover is part of a strategic initiative by Tap […]

  • GAC Angola renews ship agency contract with POSH Semco

    Posted On July 23, 2018 - 1:08 PM | by Oil and gas press -

    Leading offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has reaffirmed its close working relationship with GAC Angola by renewing its ship agency contract for Soyo and Luanda and extending the agreement to include Cabinda. Under the deal, GAC now provides an integrated range of services for the POSH fleet at all Angolan […]

  • LNG prices drop

    Posted On July 23, 2018 - 10:07 AM | by Oil and gas press -

    Spot prices for September LNG-AS delivery in Asia were assessed at $9.50 per million British thermal units (Btu), down 50 cents from the previous week. Traders Vitol, Trafigura and Diamond Gas International offered five cargoes in total via the Platts Market on Close process but there were no takers even as offers on some of […]

  • Oil and Power, U.S v Iran

    Posted On July 23, 2018 - 7:28 AM | by Oil and gas press -

    Yesterday, Iranian President Hassan Rouhani warned the United States that it could shut down international oil shipments in the strategic Strait of Hormuz if Washington continued to provoke Tehran. “We have always guaranteed the security of this strait. Do not play with the lion’s tail; you will regret it forever” Rouhani told diplomats in the […]

  • China Just Doubled Oil Shipments To North Korea

    Posted On July 20, 2018 - 8:12 AM | by Oil and gas press -

    After the recent visits of North Korean leader Kim Jong-un to China, Beijing has almost doubled the volume of crude oil pipeline shipments to North Korea, South Korea’s newspaper Chosun Ilbo reported on Thursday, citing a source in Beijing. The surge in Chinese shipments to North Korea is raising additional concerns that China could undermine […]

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