News

  • Reformed Plug-In Car Grant extended into next decade

    Posted On November 16, 2018 - 2:14 PM | by Oil and gas press -

    The UK government on 11 October 2018 announced changes to funding to support purchasing the next 35,000 of the cleanest vehicles. For the last 7 years, the Plug-in Car Grant (PICG) has provided a discount to the price of over 160,000 new ultra-low emission vehicles. These changes to financial incentives reflect the ongoing success of […]

  • Macron Agrees With Trump To Bring Down Oil Prices

    Posted On November 16, 2018 - 1:54 PM | by Oil and gas press -

    French President Emmanuel Macron said Nov. 14 that he and U.S. President Donald Trump agreed to put pressure on oil producers to bring down prices. Oil prices have risen 45% since Macron took office in mid-2017 and his government is facing pressure on high prices from a grassroots movement protesting recent petrol tax hikes. “When […]

  • Centrica joins community energy blockchain trial

    Posted On November 16, 2018 - 12:33 PM | by Oil and gas press -

    Centrica has joined forces with machine learning start-up Verv on the next phase of a community energy trial that aims to explore how peer-to-peer trading on the blockchain could reduce customer bills. Experts from the company’s supply business, British Gas, are supporting a live customer trial at a social housing community in Hackney, London where […]

  • Global Oil Today

    Posted On November 15, 2018 - 2:52 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $64.51 a barrel on Wednesday, 14 November 2018, compared with $67.01 the previous day, according to OPEC Secretariat calculations. The December light, sweet crude contract on the New York Mercantile Exchange dropped stood at $55.69/bbl. The NYMEX natural gas price for December was up 31¢ […]

  • India Boosts African Oil Imports

    Posted On November 15, 2018 - 1:19 PM | by Oil and gas press -

    India’s crude oil imports from Africa jumped in October to their highest level in three years as Indian refiners rushed to secure more African barrels amid uncertainties over the U.S. waivers for Iran’s oil, while a narrowing premium of Brent Crude prices over Dubai swaps made Brent-linked African grades more attractive for buyers in Asia. […]

  • African Energy Chamber Applauds Angola’s Membership in GECF

    Posted On November 15, 2018 - 1:07 PM | by Oil and gas press -

    The Gas Exporting Countries Forum has been at the forefront of promoting the use of natural gas as an affordable and sustainable fuel of choice for sustainable development. African countries rallying around the drive of Equatorial Guinea’s Mines and Hydrocarbon Minister, Gabriel Mbaga Obiang Lima’s drive to monetize gas and engage with OPEC and GECF […]

  • 20-year License renewal for OMLs 4, 38 and 41 confirmed.

    Posted On November 15, 2018 - 12:04 PM | by Oil and gas press -

    Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), announced that Nigeria’s President and Honourable Minister of Petroleum Resources has given consent for the renewal of OMLs 4, 38 and 41 to a new expiry date of 21 October 2038. Seplat holds a 45% working interest in OMLs 4, 38 and 41 and in the […]

  • IMF Staff Concludes Visit to Qatar

    Posted On November 15, 2018 - 10:42 AM | by Oil and gas press -

    Significant fiscal and external buffers have enabled Qatar to successfully absorb the adverse shocks from the 2014-16 decline in oil prices and the diplomatic rift. • Near- to medium-term outlook remains favorable in the context of relatively higher hydrocarbon prices, prudent fiscal policy, healthy financial system and accelerated structural reforms. An International Monetary Fund (IMF) […]

  • Chevron Announces $1 Million for California Fire Relief Efforts

    Posted On November 15, 2018 - 10:37 AM | by Oil and gas press -

    Chevron announced a contribution of $1 million from the Chevron Global Community Fund to the American Red Cross in support of relief efforts for wildfires in Northern and Southern California. “As a California company, we mourn the loss of life and destruction these fires have caused,” said Chevron Chairman and CEO Michael Wirth. “Our thoughts […]

  • ADNOC and Mubadala to Jointly Explore Global Investment and Growth Opportunities

    Posted On November 14, 2018 - 1:57 PM | by Oil and gas press -

    Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company (Mubadala), today, signed a framework agreement to explore together potential global growth opportunities that build on Mubadala’s diverse portfolio of refining and petrochemicals assets and support ADNOC’s international Downstream investment ambitions. The agreement was signed by Abdulaziz Alhajri, Director of ADNOC’s Downstream Directorate and Musabbeh […]

  • Tesla working with Amazon to deploy more energy storage

    Posted On November 13, 2018 - 4:20 PM | by Oil and gas press -

    Amazon is turning to Tesla in order to deploy energy storage capacity at their distribution centers. After a deal to add Tesla Powerpacks to a UK facility earlier this year, now Amazon is working with Tesla again at another distribution center. The last project included both a 4 MW solar array and 3.77 MW battery […]

  • OPEC daily basket price

    Posted On November 13, 2018 - 2:00 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $69.82 a barrel on Monday, 12 November 2018, compared with $68.89 the previous Friday, according to OPEC Secretariat calculations According to the US Energy Information Administration (EIA) Short-Term Energy Outlook (STEO) data in its report for November 2018, crude oil prices declined in October at […]

  • South Sudan Resumes Oil Production, Seeks Investors

    Posted On November 13, 2018 - 12:39 PM | by Aziza Albou -

    South Sudan Oil & Power 2018 is returning to Juba on Nov. 21-22, and is focused on attracting international investors and service companies into the country’s newly revamped oil industry. The theme for the conference — Embracing the Private Sector — follows the successful resumption of oil production by the Greater Pioneer Operating Company this […]

  • Kosmos Energy Announces Third Quarter 2018 Results

    Posted On November 13, 2018 - 12:26 PM | by Oil and gas press -

    Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced financial and operating results for the third quarter of 2018. For the third quarter of 2018, the Company generated a net loss of $126.1 million, or $0.31 per diluted share as compared to net loss of $63.4 million or $0.16 per diluted share in the same period last […]

  • Merus Capital Leads Investment in Gas Pos

    Posted On November 13, 2018 - 11:03 AM | by Oil and gas press -

    Gas Pos today announced a $1 million investment by Merus Capital, a Silicon Valley-based early-stage venture capital firm. Merus’ investment will enable Gas Pos to execute on a national roll-out plan to bring its uniquely affordable gas pump upgrade solution to independent retailers concerned over the impending costs of the Automated Fuel Dispensers (AFD) EMV […]

  • Saudis Scramble To Stop Oil Price Slide

    Posted On November 13, 2018 - 8:43 AM | by Oil and gas press -

    Saudi Arabia is moving quickly to halt the slide in oil prices, telegraphing a production cut intended to erase some of the re-emerging supply surplus. Saudi oil minister Khalid al-Falih said on Monday that the kingdom would slash oil exports by 500,000 bpd in December, a move that would go a long way to reversing […]

  • ADNOC CEO Says Oil and Gas Industry a Critical Enabler of Economic Growth

    Posted On November 12, 2018 - 2:55 PM | by Oil and gas press -

    The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC). Delivering the opening keynote address, today at the Abu Dhabi International Petroleum Exhibition […]

  • Nigeria’s EFCC begins moves to extradite Alison-Madueke

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

    The Economic and Financial Crimes Commission has confirmed that the process for the extraditing former Minister of Petroleum, Mrs Deziani Alison-Madueke from the United Kingdom has begun. Acting Spokesman of the commission, Mr Tony Orilade, disclosed this on Sunday in Abuja according to a News Agency of Nigeria (NAN) report. There have been calls from […]

  • Man found dead inside pipeline in Nigeria

    Posted On November 12, 2018 - 11:59 AM | by Oil and gas press -

    A 45-year-old suspected vandal, was on Sunday found dead inside an Nigerian National Petroleum Corporation (NNPC)’s Petroleum Motor Spirit [PMS] pipeline at Gbaga Axis, Ogijo, Ogun State according to local media reports. The Nigeria Security and Civil Defence Corps [NSCDC] Public Relations Officer, Dyke Ogbonnaya, in a statement said the command had reported the incident […]

  • Russia’s Aurus cars to feature at Geneva Motor Show

    Posted On November 9, 2018 - 4:29 PM | by Oil and gas press -

    Sedan and limousine versions of Russian-made Aurus executive class cars will make their European debut during the 89th International Motor Show in Geneva in March 2019, the Russian Industry and Trade Ministry’s press service said. Aurus is a Russian brand of cars for senior officials. The name combines the two words Aurus: “aurum” (a Latin […]

  • Saudi Aramco to pursue research program to optimize fuel and engine technologies

    Posted On November 9, 2018 - 4:03 PM | by Oil and gas press -

    Saudi Aramco and Chinese entities Tsinghua University, FAW Jiefang Automotive Wuxi Diesel Works (FAWDE), and Shandong Chambroad Petrochemicals Company today announced the start of a research program dedicated to fuel and engine optimization, and exhaust after-treatment technologies. For the first time a major energy company, engine manufacturer, petrochemicals company, and a renowned university come together […]

  • Audi Autonomous Driving Cup 2018

    Posted On November 9, 2018 - 1:46 PM | by Oil and gas press -

    Eight university teams will be battling it out in the Audi Autonomous Driving Cup 2018 from November 12 to 14 to present the best autonomous driving car. For the first time, the participants have access to digital HD map material of the entire course. The museum mobile in Audi Forum Ingolstadt will now be hosting […]

  • Update !! : Operations resumes at Sture and Kollsnes

    Posted On November 8, 2018 - 2:37 PM | by Oil and gas press -

    The Sture terminal and the Kollsnes plant resumed operations Thursday afternoon after being shut down in connection with the collision between the frigate KNM Helge Ingstad and the tanker Sola TS at the Sture terminal early Thursday morning. Also North Sea installations affected by the shut-down of the two onshore plants are gradually starting up […]

  • AOW 2018 explores the financial opportunities in the African oil and gas market

    Posted On November 8, 2018 - 2:30 PM | by Oil and gas press -

    Africa Oil Week hosted a live broadcast by CNBC Africa focusing on the Global Funding Strategies and M&A for the African Upstream exploring how the key stakeholders tap into large pools of global capital to finance the sector. Editor-at-Large for CNBC Africa, Bronwyn Nielsen, interviewed experts including: Frank Pluta, Industry Banker – Energy Group Head, […]

  • CME Group Declares Quarterly Dividend

    Posted On November 8, 2018 - 10:07 AM | by Oil and gas press -

    CME Group Inc., the world’s leading and most diverse derivatives marketplace, today declared a fourth-quarter dividend of $0.70 per share, payable December 27, 2018, to shareholders of record as of December 10, 2018. Source / More : CME Group Oil and Gas News Undiluted !!! “Oil is well” Please email us your industry related news […]

  • Equinor Shutting down the Sture terminal

    Posted On November 8, 2018 - 9:56 AM | by Oil and gas press -

    In connection with the collision between the frigate KNM Helge Ingstad and the tanker Sola TS at the Sture terminal in Øygarden Equinor will gradually shut down operations at Sture. Personnel at Sture without emergency tasks will also be evacuated. The shutdown and evacuation are performed as a precautionary measure. As an operational consequence of […]

  • Congo Greenwashing Efforts Exposed at Africa Oil Week

    Posted On November 7, 2018 - 11:50 AM | by Oil and gas press -

    Greenpeace blew the whistle today on the Republic of Congo’s most recent greenwashing campaign by exposing its plans to tender three oil blocks in the heart of newly-discovered peatlands that Environment Minister Arlette Soudan-Nonault has vowed to protect. Four peatland oil blocks are already under allocation, awaiting development. Tendering for the “Licence Round Phase 2” […]

  • Global Energy Leaders in Abu Dhabi for Third Annual CEO Roundtable

    Posted On November 7, 2018 - 10:53 AM | by Oil and gas press -

    Twenty-seven of the world’s leading oil industry chief executives will gather, in Abu Dhabi, on November 11, to discuss the impact of digitalization, technology and the Fourth Industrial Age on the future of the global oil and gas industry. The senior executives, representing many of the world’s major oil, gas and petrochemical companies, have been […]

  • ExxonMobil Expand offshore blocks in Brazil

    Posted On November 6, 2018 - 4:41 PM | by Oil and gas press -

    In September 2017, ExxonMobil had interest in just two offshore blocks in Brazil, totaling slightly more than 161,000 net acres. Fast forward one year later: the company now has interest in 26 deepwater blocks across five basins, covering an area nearly the size of the U.S. state of New Jersey. In fact, with more than […]

  • Producers react favorably to U.S.-Mexico-Canada Agreement

    Posted On November 6, 2018 - 4:01 PM | by Oil and gas press -

    Agricultural producer sentiment rebounded in October, according to the Purdue University/CME Group Ag Economy Barometer. The October barometer reading of 136 was 22 points higher than September, which was the lowest reading for the survey since 2016. The barometer is based on a survey of 400 agricultural producers from across the country. The sentiment improved […]

  • Gazprom and OMV sign contract Amendment

    Posted On November 6, 2018 - 9:19 AM | by Oil and gas press -

    “Over the past few years, Gazprom has been setting new records for exports to Austria. In the first ten months of 2018 alone, gas supplies to the country have grown by a third compared to the same period of 2017, reaching 8.8 billion cubic meters. The signing of a document on additional exports beyond the […]

  • United States grants waivers in Iran Sanctions

    Posted On November 5, 2018 - 7:02 PM | by Oil and gas press -

    The United States has granted waivers to continue three nonproliferation projects in Iran, among them is the Bushehr Nuclear Power Plant (NPP), US Secretary of State Mike Pompeo said at a briefing for foreign reporters on Monday answering a TASS question. “What we have authorized is very narrow, very limited, very time-limited as well, but […]

  • Iran warns of ‘war situation’ as U.S. sanctions resume

    Posted On November 5, 2018 - 5:33 PM | by Oil and gas press -

    Iran greeted the re-imposition of U.S. sanctions on Monday with air defense drills and an acknowledgement from President Hassan Rouhani the nation faces a “war situation,” raising Mideast tensions as America’s maximalist approach to the Islamic republic takes hold. The sanctions end all the economic benefits America granted Tehran for its 2015 nuclear deal with […]

  • Blades kill off 75% of buzzards, hawks and kites that live nearby, study shows

    Posted On November 5, 2018 - 5:12 PM | by Oil and gas press -

    Wind turbines are the world’s new ‘apex predators’, wiping out buzzards, hawks and other carnivorous birds at the top of the food chain, say scientists. A study of wind farms in India found that predatory bird numbers drop by three quarters in areas around the turbines. Researchers at the Indian Institute of Science in Bengaluru […]

  • Demand for Van and Pick-up registrations increase 14.1% In the UK in October

    Posted On November 5, 2018 - 1:10 PM | by Oil and gas press -

    Demand for new light commercial vehicles (LCVs) increased in October, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). More than 28,000 vans and pick-ups joined British roads in the month, representing a 14.1% increase in registrations, as demand continued to fluctuate throughout 2018. Growth was driven by […]

  • Heathrow adds another Asian destination to its 11 Chinese routes

    Posted On November 2, 2018 - 9:12 AM | by Oil and gas press -

    Heathrow has welcomed the first UK flight arriving directly from the Chinese economic powerhouse and mega-city of Shenzhen. Operated by Shenzhen Airlines, this thrice-weekly service will transport up to 96,408 passengers a year and 3,120 tonnes of annual exports and imports to the city known as China’s tech hub. Recently, Lonely Planet ranked Shenzhen second […]

  • ENERGY NEWSTRACK

    Posted On November 1, 2018 - 2:24 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $75.51 a barrel on Tuesday, 30 October 2018, compared with $76.07 the previous day, according to OPEC Secretariat calculations _____________________________________________ Quotes by TradingView _______________________________________________ Electric vehicles – the story so far The most immediate effect of the growth in EVs will be the decline in […]

  • “Black box” from the Lion Air jet recovered

    Posted On November 1, 2018 - 12:01 PM | by Oil and gas press -

    The “black box” from the Lion Air jet that plummeted into the Java Sea On the 29th October after taking off from Indonesia earlier this week has reportedly been recovered. The aircraft crashed just minutes after taking off from Jakarta. The location of the black box find was about 500 metres northwest of the coordinates […]

  • Divers, sonar and drones join the search for the Lion Air black box

    Posted On November 1, 2018 - 11:36 AM | by Oil and gas press -

    On the 29th October, a plane crashed into the sea, north of Jakarta, belonging to the domestic Indonesian airline, Lion Air. From the information available on Flightradar24.com, the plane took off from Jakarta at 23:20 UTC, on its way Pangkal Pinang, and the last data received by air traffic control from the aircraft was 11 […]

  • NNPC Charges Petroleum Explorationists to Find More Oil

    Posted On November 1, 2018 - 10:50 AM | by Oil and gas press -

    The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikati Baru, has charged members of the Nigerian Association of Petroleum Explorationists (NAPE) to deploy their wealth of knowledge and experience to find more crude oil to meet the 40million barrels reserves target. Dr. Baru gave this charge yesterday when the leadership […]

  • CME Group to Reconvene the Special Meeting of Shareholders

    Posted On November 1, 2018 - 10:36 AM | by Oil and gas press -

    CME Group Inc. (Nasdaq: CME) today announced that it intends to reconvene the special meeting of its shareholders to be held at 10:00 a.m. Central Time on Thursday, November 29, 2018. The company plans to adjourn the special meeting of its shareholders scheduled for 10:00 a.m. Central Time on Monday, November 5, 2018, without conducting […]

  • Exxon Declares Fourth Quarter Dividend

    Posted On October 31, 2018 - 6:55 PM | by Oil and gas press -

    The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) today declared a cash dividend of $0.82 cents per share on the Common Stock, payable on December 10, 2018 to shareholders of record of Common Stock at the close of business on November 13, 2018. This fourth quarter dividend is at the same level as the […]

  • Rosneft and Pietro Fiorentini Expand Industrial Cooperation

    Posted On October 31, 2018 - 1:54 PM | by Oil and gas press -

    Rosneft and Pietro Fiorentini S.p.A in the framework of the visit of the Italian delegation to Russia agreed to extend the existing agreement on industrial cooperation until the end of 2019, and signed a new agreement. The document was signed in the presence of the President of the Russian Federation Vladimir Putin and the President […]

  • HESS REPORTS ESTIMATED RESULTS FOR THE THIRD QUARTER OF 2018

    Posted On October 31, 2018 - 12:14 PM | by Oil and gas press -

    Hess Corporation (NYSE: HES) today reported net income of $52 million, or $0.14 per common share, in the third quarter of 2018, compared to a net loss of $624 million, or $2.02 per common share, in the third quarter of 2017. On an adjusted basis, the Corporation reported net income of $123 million, or $0.38 […]

  • Will Iran’s Oil Exports Fall To Zero?

    Posted On October 31, 2018 - 11:32 AM | by Oil and gas press -

    The deadline for implementation of U.S. sanctions on Iran is just days away, and the Trump administration is having second thoughts about how hard to press the Islamic Republic. More accurately, there seems to be disagreement from within the Trump administration. According to the Wall Street Journal, Secretary of Treasury Steven Mnuchin is leaning towards […]

  • Emirates’ to launch first biometric path

    Posted On October 31, 2018 - 10:35 AM | by Oil and gas press -

    Emirates is gearing up to launch the world’s first ‘biometric path’, which will offer its customers a smooth and truly seamless airport journey at the airline’s hub in Dubai International airport. Utilising the latest biometric technology – a mix of facial and iris recognition – Emirates passengers can soon check-in for their flight, complete immigration […]

  • Solar energy panel fraudsters sentenced in UK

    Posted On October 30, 2018 - 4:54 PM | by Oil and gas press -

    Six men were sentenced to a total of 30 years’ and 4 months’ imprisonment for a £17m scam which defrauded 1,500 victims including elderly, retired and vulnerable people. David Diaz, Ludovic Black, Stephen Wilson, Robert Ross, Niall Hastie and Kenneth Reid were convicted by a jury at Liverpool Crown Court in August and were sentenced […]

  • Esanda Engineering Announce New SPE London Ticket Giveaway

    Posted On October 30, 2018 - 11:00 AM | by Anastasis Kokkinos -

    Esanda Engineering has announced a brand new competition in conjunction with the Society of Petroleum Engineers (SPE) London Section. Esanda is an independent upstream oil and gas training and consultancy company, and they are proud sponsors of the SPE. Their competition offers two winners a free ticket to attend the prestigious SPE ‘Introduction to Oil […]

  • UK Chancellor delivers pre-Brexit Budget for a ‘brighter future’

    Posted On October 30, 2018 - 10:53 AM | by Oil and gas press -

    Chancellor Philip Hammond has delivered his second Autumn Budget, exactly five months before Britain is due to leave the European Union. The Chancellor asserted that the era of austerity is ‘finally coming to an end’ after a ‘long, hard journey’. He stated that UK debt remains too high and highlighted the importance of continuing to […]

  • Vision-Box contactless biometric platform

    Posted On October 29, 2018 - 3:30 PM | by Oil and gas press -

    Carrasco International Airport has kicked off self-service biometric boarding. For the first time in Latin America, LATAM Airline passengers have boarded the plane without having to show their passport or boarding pass. A simple face scan was enough to have them securely boarded in just a few seconds. Since 2016, the Easy Airport programme has […]

  • Fully solar energy-powered airport in Cochin, Kerala wins award

    Posted On October 29, 2018 - 3:19 PM | by Oil and gas press -

    Cochin International Airport Limited (CIAL) has been selected for the 2018 Champions of the Earth prize, the highest environmental honour instituted by the United Nations (UN). CIAL is honoured for its successful execution of one of the revolutionary ideas of using solar energy which made Cochin Airport a first in the world fully powered by […]

  • Fuel provider World Fuel Service set to supply French airport

    Posted On October 29, 2018 - 3:15 PM | by Oil and gas press -

    World Fuel Services has announced that it has won a significant tender with a leading French airport, Aéroport La Rochelle – Ile de Ré. From the 1st April 2019, World Fuel Services will be the sole fuel provider at the airport. The contract will see World Fuel Services serving the airport’s business aviation customers, as […]

  • Police forces ‘ignoring’ fuel thieves in UK

    Posted On October 29, 2018 - 2:33 PM | by Oil and gas press -

    Thieves stealing from petrol pumps are being let off by almost one in five police forces. At least eight forces in England and Wales have stopped pursuing fuel thefts and retailers accuse them of ‘routinely ignoring the crime’ the Dailymail reports. Driving off without paying, or ‘bilking’, is increasingly downgraded to a low-level offence that […]

  • ENOC Group to strengthen presence in Malta

    Posted On October 29, 2018 - 2:26 PM | by Oil and gas press -

    ENOC Group signed a Memorandum of Understanding (MOU) with Enemed, the state-owned fuel distributor and supplier in Malta, to strengthen cooperation for capital projects in Malta and other international markets. As part of the agreement, ENOC Group will explore growth opportunities in Malta, and potential areas of cooperation between both companies. These plans are in […]

  • Rivertrace to supply Oil Content Monitor for Alfa Laval PureBilge Separator

    Posted On October 29, 2018 - 12:19 PM | by Oil and gas press -

    Producers of water quality monitoring products Rivertrace, have signed an agreement as a preferred supplier of Oil Content Monitors (OCM) for Alfa Laval PureBilge Separator. Alfa Laval’s PureBilge is the market leading centrifugal type oily water separator which has high reputation from the market. Rivertrace’s Smart Bilge OCM utilises the “Smart Cell” Detector Array Technology, […]

  • Survey shows rising costs for shipping

    Posted On October 29, 2018 - 12:16 PM | by Oil and gas press -

    Operating costs for ships are set to increase by 2.7% this year and by a further 3.1% in 2019 a new survey by international accountant and shipping consultant Moore Stephens shows. Responses to the firm’s latest annual Future Operating Costs Survey revealed that drydocking is the cost category likely to increase most significantly in both […]

  • Iran has produced and exported less crude oil since sanctions announcement

    Posted On October 29, 2018 - 11:51 AM | by Oil and gas press -

    Iran’s crude oil exports and production have declined since the May 2018 announcement by the United States that it would withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reinstate sanctions against Iran. The announcement included two wind-down periods to allow those doing business that involved Iran time to comply. On August 6, 2018, […]

  • The Oilfield Marketplace

    Posted On October 29, 2018 - 11:14 AM | by Oil and gas press -

    Hexacom, a division of Schlumberger Technology Corporation, today launched The Oilfield Marketplace, an e-commerce platform that connects oil and gas industry professionals with the products, services and information they need to optimize their assets. The Oilfield Marketplace provides a seamless online experience that makes ordering oilfield products as easy as ordering a book. The initial […]

  • Eni announces a new oil discovery offshore Norway

    Posted On October 29, 2018 - 10:54 AM | by Oil and gas press -

    Eni announces a new oil discovery in the western Barents Sea within licence PL 532, the new discovery has been made through the exploration well 7220/5-3, drilled in a water depth of 409 m in the Skruis Prospect in License PL 532 (Equinor 50% Op., Eni 30% and Petoro 20%). The exploration well is located […]

  • Zhonghua Gas Announces Profit Alert to 30 September 2018

    Posted On October 29, 2018 - 9:56 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 that positive profit alert for the nine months ended 30 September 2018. Based on the preliminary review of the relevant unaudited consolidated management accounts, the Group expects to record a substantial increase in the total revenue […]

  • Shale gas in field of Fuling in S.W China

    Posted On October 26, 2018 - 3:46 PM | by Oil and gas press -

    The total output of shale gas in field of Fuling in Southwest China’s Chongqing exceeded 20 billion cubic meters as of October 6. Its current daily output could coverage natural gas demand of 32 million residential households, relieving pressure on natural gas supply from central and eastern China. Information source / More : Sinopec Oil […]

  • When Will Self-Driving Cars Go Mainstream?

    Posted On October 26, 2018 - 2:11 PM | by Oil and gas press -

    Tech giants like Apple and Waymo, along with carmakers such as General Motors and Tesla, are counting on autonomous vehicles becoming the norm in auto manufacturing and mobility services. But how long will it really take to reach public acceptance and mass adoption? These four companies, along with Daimler, Didi Chuxing, Ford, Uber and others, […]

  • NPDC Achieves 100% Local Content Input

    Posted On October 26, 2018 - 12:21 PM | by Oil and gas press -

    The Nigerian Petroleum Development Company (NPDC), an Upstream Subsidiary of the Nigerian National Petroleum Corporation (NNPC), has achieved a 100 per cent local content input in the development of Oredo Integrated Gas Handling Facility. NNPC Group Managing Director, Dr. Maikanti Baru, declared this Wednesday during a tour of the NPDC’s Oredo Flow Station, Oredo Gas-to-Pan-Ocean […]

  • Total announces third 2018 interim dividend

    Posted On October 26, 2018 - 9:18 AM | by Oil and gas press -

    In accordance with the Board of Directors decision of February 7, 2018 regarding the 2018-20 shareholder return policy, the third 2018 interim dividend is set at 0.64 euro per share, an increase of 3.2% compared to the three interim dividends and the final dividend paid for the 2017 fiscal year. This interim dividend is stable […]

  • Saudi Aramco backs women empowerment

    Posted On October 25, 2018 - 5:33 PM | by Oil and gas press -

    Saudi Aramco, chaired the “Leadership Excellence for Women Awards and Symposium” (LEWAS), a leading industry event held at the Bahrain International Convention & Exhibition Center from October 23-25, promoting efforts to increase professional opportunities for women engagement and leadership in the Downstream sector of the energy industry. The Leadership Excellence for Women Awards and Symposium […]

  • Moody’s reduces Eni’s long-term credit rating

    Posted On October 25, 2018 - 5:07 PM | by Oil and gas press -

    Rating agency Moody’s Investors Service has downgraded Eni’s long-term credit rating to ‘Baa1’ from ‘A3’, with Stable outlook. Moody’s also confirmed Eni’s ‘P-2’ short term credit rating. The rating action on Eni follows the downgrade on the Italian sovereign rating to ‘Baa3’ from ‘Baa2’, with Stable outlook, and reflects Moody’s view that despite the favorable […]

  • Equinor ASA: Information relating to dividend for third quarter 2018

    Posted On October 25, 2018 - 4:23 PM | by Oil and gas press -

    Key information relating to the cash dividend to be paid by Equinor (OSE: EQNR, NYSE: EQNR) for third quarter 2018. • Dividend amount: 0.23 • Declared currency: USD • Last day including rights: 18 February 2019 • Ex-date: 19 February 2019 • Record date: 20 February 2019 • Payment date: On or around 28 February […]

  • TechnipFMC Declares Quarterly Dividend

    Posted On October 25, 2018 - 4:00 PM | by Oil and gas press -

    TechnipFMC (NYSE:FTI) announced that the Company’s Board of Directors has authorized and declared a quarterly cash dividend of $0.13 per ordinary share payable on or shortly after December 5, 2018 to shareholders of record as of the close of business on the New York Stock Exchange on November 20, 2018. The ex-dividend date will be […]

  • Wood wins UK nuclear new build contract

    Posted On October 25, 2018 - 3:37 PM | by Oil and gas press -

    Hitachi Nuclear Energy Europe (HNE) has appointed Wood as architect engineering support partner to the Wylfa Newydd nuclear power plant project in the UK. Effective immediately, the appointment is expected to transition into a 10-year framework, extending up to the start of commercial operations, once the project passes further key milestones in 2019. Wood is […]

  • Norco Group opens UAE office with new appointment

    Posted On October 25, 2018 - 3:18 PM | by Roy Kemp -

    Norco Group’s operations in the United Arab Emirates have officially commenced with the opening of its Abu Dhabi office. This permanent presence in the UAE has been made possible with the recruitment of Jun Chrysler L. Perote. Providers of services and products to the Secure Power industry, Norco Group has already established a local partnership […]

  • McDermott Awarded EPC Contract in South Texas

    Posted On October 15, 2018 - 1:42 PM | by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced today a sizeable* contract award for CB&I Storage Tanks for the engineering, procurement, fabrication and construction of three external floating-roof tanks in Taft, Texas. “McDermott is the industry leader for superior storage tank solutions in the energy industry,” said Richard Heo, McDermott’s Senior Vice President for North, Central and […]

  • Oil Pipeline Fire Outbreak at Osisioma, Near Aba, Nigeria

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

    The Nigerian National Petroleum Corporation (NNPC) Friday in Abuja reported an oil pipeline fire outbreak along the Osisioma axis near Aba Depot in its System 2E pipeline network. The corporation said the incident might have been caused by suspected oil thieves who had hacked into the line to intercept flow of petrol from Port Harcourt […]

  • Eni Collaborates with the University of Naples Federico II

    Posted On October 15, 2018 - 11:59 AM | by Oil and gas press -

    Eni and the University of Naples Federico II today signed a research and development cooperation agreement that will focus on the sectors for which the concepts of building a circular economy and Industry 4.0 rely. The three-year collaboration will involve taking advantage of research sectors in which the University excels. These include several R&D topics […]

  • Roxtec boosts team with four new hires

    Posted On October 15, 2018 - 10:06 AM | by Oil and gas press -

    UK cable seal manufacturer Roxtec has made a series of new appointments to drive growth across rail, infrastructure, heavy machinery and nuclear markets. The £6million turnover cable and pipe sealing specialist has expanded its UK team of 20 full-time staff with four new starters. Roxtec’s products protect people and assets from multiple hazards including fire, […]

  • Exxon and Rosneft sign oil exploration agreements with Mozambique

    Posted On October 10, 2018 - 2:16 PM | by Oil and gas press -

    The Mozambique Government has signed oil exploration agreements with US-based energy firm Exxon Mobil and Russian oil company Rosneft. These deals are expected to draw investments of between $700m and $900m. Mozambique Mineral Resources Minister Max Tonela was reported by Bloomberg as saying that the country expects to become a major exporter of oil and […]

  • Court sentences Shell Nigeria MD, two others to jail for contempt

    Posted On October 10, 2018 - 9:56 AM | by Oil and gas press -

    A Port Harcourt High Court has sentenced the Managing Director of Shell Petroleum Development Company (SPDC), Osagie Okunbor, and two others to three months in prison with hard labour. Those sentenced to prison alongside the Managing Director in contempt proceedings are, Company Secretary and Head of Legal, Nike Oyinlola, as well as Deputy Country Head […]

  • Neste and Aalto University Announce strategic research cooperation

    Posted On October 10, 2018 - 9:02 AM | by Oil and gas press -

    Neste and Aalto University have today signed a letter of intent on strategic cooperation and the creation of a new research portfolio. The aim of the cooperation is to increase Finnish chemical industry expertise in chemical engineering, bioeconomy, circular economy, and digitalization. It is also intended to support important growth areas for Neste, such as […]

  • Precision Drilling to Pay $1B for Trinidad Drilling

    Posted On October 9, 2018 - 2:45 PM | by Oil and gas press -

    Two of Canada’s largest oil and gas drillers have agreed to combine in a deal worth about $1.03 billion, positioning them to have the third-largest contract drilling fleet in the United States. Under the friendly deal reached by the two Calgary-based companies, Precision Drilling Corp. will buy Trinidad Drilling Ltd. in exchange for shares worth […]

  • Energy minister says no need for country to join OPEC

    Posted On October 9, 2018 - 12:08 PM | by Oil and gas press -

    Russia’s Energy Minister Alexander Novak considers it unreasonable for the country to join OPEC. “I do not think it is necessary and reasonable,” he said in an interview aired by the Rossiya-24 TV news channel on Tuesday when asked about Russia’s possible joining the oil cartel. “Fundamentally, the instruments being used today when we reach […]

  • Ships collision near Corsica causes major oil spill

    Posted On October 8, 2018 - 7:03 PM | by Oil and gas press -

    The collision between the Tunisia-registered Ulysse and Cyprus’ CLS Virginia occurred at around 7.30am on Sunday, some 28 kilometres off the northern tip of the island. No one was injured in the crash, but it smashed a hole several metres long in the hull of one of the vessels, causing the spill, according to a […]

  • US Sanctions Strengthen Iran-Russia Gas Relations

    Posted On October 8, 2018 - 12:18 PM | by Oil and gas press -

    Iran’s deputy petroleum minister for gas affairs said the United States’ stance towards Tehran would bolster the alliance between Iran and Russia, saying Iran had several methods to deal with the sanctions at its disposal, and Russia had firmly stated it would continue investing in Iran. Speaking to the Sputnik News in Moscow, Hamid Reza […]

  • Kitimat celebrates LNG Canada’s approval

    Posted On October 8, 2018 - 12:13 PM | by Oil and gas press -

    The northern British Columbian town of Kitimat has been in celebration mode all week long following last Monday’s official announcement that LNG Canada is moving forward. Last week, the private international consortium made a final decision to approve the project in Kitimat. Oil giant Shell is leading the project, and its shareholders include Petronas, PetroChina, […]

  • More incentives needed for Russian oil sector to attract major annual investment

    Posted On October 8, 2018 - 12:11 PM | by Oil and gas press -

    The incentives offered by the Russian Ministry of Energy to stimulate oil production will lead to additional hundreds of billions of investment per year to the oil industry, and extend the marginal level of production in Russia for at least 5-7 years, Deputy Energy Minister Pavel Sorokin told TASS. “If we adopt a complex of […]

  • Toyota and SoftBank To Establish Joint Venture for New Mobility Services

    Posted On October 8, 2018 - 11:21 AM | by Oil and gas press -

    Toyota Motor Corporation (“Toyota”) and SoftBank Corp. (“SoftBank”) have agreed to form a strategic partnership to facilitate the creation of new mobility services, and plan to establish a joint venture company, MONET Technologies Corporation (“MONET”), before the end of the 2018 fiscal year (April 2019). The objective of MONET is to help realize a safer […]

  • OPEC congratulates President Vladimir Putin on his birthday

    Posted On October 8, 2018 - 9:13 AM | by Oil and gas press -

    OPEC Secretary General, HE Mohammad Sanusi Barkindo, extended birthday congratulations to the Russian President, HE Vladimir Putin. He thanked the President for his pivotal contribution to the ‘Declaration of Cooperation’ process and looked forward to further cooperation in the future. HE Barkindo wished the President long life, good health and many more years of service […]

  • Equinor reduces estimated investments on the Norwegian continental shelf

    Posted On October 8, 2018 - 9:06 AM | by Oil and gas press -

    Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion since the development plans were submitted to Norwegian authorities. This appears from the status for Norwegian projects under development published the Government’s national budget proposal for 2019. “We have successfully reduced the […]

  • Repsol advocates natural gas as a key energy source for the decarbonization of Europe

    Posted On October 5, 2018 - 11:31 AM | by Oil and gas press -

    Repsol Chairman Antonio Brufau opened the fourth edition of the company’s Energy for Europe Conferences in Brussels, attended by European Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, Elżbieta Bieńkowska and other members of the European Parliament. During his address, Brufau emphasized the need for regulation that facilitates the energy transition while maintaining the competitiveness […]

  • Lamborghini’s new app in collaboration with Salesforce

    Posted On October 5, 2018 - 11:15 AM | by Oil and gas press -

    Automobili Lamborghini presented its new customer app, ‘Lamborghini Unica’, during Dreamforce 2018, the leading event for Customer Experience Innovation and Transformation in San Francisco last month. The new Lamborghini Unica app is a digital evolution of customer experience, realized in collaboration with Salesforce, the global leader in Customer Relationship Management. It delivers a more personalized […]

  • OMV and Gazprom sign a “Basic Sale Agreement”

    Posted On October 4, 2018 - 2:11 PM | by Oil and gas press -

    OMV and Gazprom have signed a “Basic Sale Agreement” which foresees a potential acquisition of a 24.98% interest in the Achimov IV and V phase development in the Urengoy gas and condensate field by OMV for a purchase price to be negotiated in good faith. The “Basic Sale Agreement” replaces the “Basic Agreement” concluded between […]

  • Oil discovery in the Norwegian Sea more than double the remaining Norne oil reserves

    Posted On October 4, 2018 - 8:43 AM | by Oil and gas press -

    Equinor has, together with partners ENI and Petoro, completed the appraisal well on the Cape Vulture discovery from 2017. The well confirms a volume potential of 50-70 million recoverable barrels of oil. The discovery more than doubles the remaining oil reserves to be produced through the Norne field. Originally planned to be shut down in […]

  • ENERGY NEWSTRACK TO 02/10/18:

    Posted On October 3, 2018 - 3:49 PM | by Oil and gas press -

    The price of OPEC basket of fifteen crudes stood at $83.28 a barrel on Tuesday, 2 October 2018, compared with $81.58 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 […]

  • Talos Announce Approval of Zama Appraisal Plan

    Posted On October 3, 2018 - 11:57 AM | by Oil and gas press -

    Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced the Mexican oil & gas regulator, the National Hydrocarbons Commission (“CNH”) has approved the appraisal plan for the Zama discovery. The approval of the appraisal plan by the CNH is a key approval required to commence the appraisal of the Zama discovery. CNH is […]

  • Elon Musk Settles With SEC

    Posted On October 3, 2018 - 10:27 AM | by Oil and gas press -

    Elon Musk has agreed to settle the securities fraud charge by the U.S. Securities and Exchange Commission (SEC) in a settlement that includes removing Musk as chairman at Tesla, and Musk and Tesla paying fines, the SEC said on Saturday in what analysts see as one of the fastest such settlements. Last Thursday, the SEC […]

  • Transocean Contract Extension for Petrobras 10000

    Posted On October 3, 2018 - 9:59 AM | by Oil and gas press -

    Transocean Ltd. (NYSE:RIG) announced that the ultra-deepwater drillship Petrobras 10000 was awarded a 790-day contract extension offshore Brazil with Petrobras. The contract is extended through October 2021 and includes a blend and extend modification to the previous contract dayrate, effective September 2018. The additional net contract backlog is approximately $185 million, including cost escalations. Additionally, […]

  • Modernized North American trade deal welcome news

    Posted On October 3, 2018 - 8:05 AM | by Oil and gas press -

    An agreement for the newly unveiled North American trade deal (United States-Mexico-Canada Agreement, or USMCA) is good news for Canadian beef, pork and grain producers who rely on the U.S. market, and for both domestic and foreign investors seeking certainty in Canada. Every negotiation involves give and take and there remains much to digest and […]

  • Saudi Aramco promotes small and medium enterprise investment in Saudi Arabia

    Posted On October 3, 2018 - 7:49 AM | by Oil and gas press -

    Saudi Aramco participated in the U.S.-Saudi Arabian Business Council’s (USSABC) premier U.S.-Saudi SME Forum in Los Angeles, adding momentum to ongoing efforts by the integrated energy and chemicals giant to develop a locally accessible, reliable and innovative supply chain. Senior Vice President of Technical Services Ahmad A. Al-Saadi was a keynote speaker at the forum […]

  • IMF Staff Completes Mission to Sierra Leone

    Posted On October 2, 2018 - 3:47 PM | by Oil and gas press -

    An International Monetary Fund (IMF) team led by Brian Aitken visited Freetown from September 18-October 2, 2018, to initiate discussions on a possible Extended Credit Facility arrangement that could be supported by the IMF.[1] At the end of the visit, Mr. Aitken issued the following statement: “The economic environment remains challenging, with output growth still […]

  • CME Group Averaged 17.5 Million Contracts Per Day in September 2018

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

    CME Group, reached average daily volume (ADV) of 17.5 million contracts per day during September 2018, up 3 percent from September 2017. Open interest at the end of September was 120 million contracts, up 6 percent from September 2017 and up 11 percent from year-end 2017. Third-quarter 2018 ADV reached 15.6 million contracts, down 1 […]

  • NNPC Records N18.12bn Monthly Trading Surplus in May

    Posted On October 2, 2018 - 9:19 AM | by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N18.12bn for the month of May, 2018, a performance which is relatively higher than the trading surplus of N17.16bn recorded in the preceding month. Details of the transactions contained in the recently released May 2018 edition of the Monthly NNPC Financial and Operations […]

  • Gita Gopinath appointed as IMF Chief Economist

    Posted On October 1, 2018 - 3:25 PM | by Oil and gas press -

    International Monetary Fund (IMF) Managing Director Christine Lagarde appointed Gita Gopinath on Monday as Economic Counsellor and Director of the IMF’s Research Department. Ms. Gopinath will succeed Maurice (Maury) Obstfeld, who announced in July that he would retire at the end of 2018. Ms. Gopinath currently serves as the John Zwaanstra Professor of International Studies […]

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