Read the most popular news of the week.
U.S. energy company Noble Energy and its Israeli partner Delek, have reportedly reached an agreement with the Israeli government, which should pave the way towards the development of the giant Leviathan gas field, offshore Israel. One point in the previously agreed framework for the 22 TCF gas devel
Saudi Arabian national oil company Saudi Aramco has reportedly awarded a contract to Singapore-based Emas AMC and India’s Larsen & Toubro (L&T) for the expansion of the Hasbah gas field located in the Arabian Gulf. Reuters reported on Monday, quoting industry sources, that the work would include bui
By Henning Gloystein and Dmitry Zhdannikov SINGAPORE/LONDON (Reuters) – Oil prices jumped over 2 percent on Monday to their highest since October 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flippe
(Reuters) – Goldman Sachs <GS.N>, one of the most bearish forecasters on oil for about a year, on Monday raised its short-term price outlook for U.S. crude projecting steeper near-term cuts in global output. “Pulling forward” its forecast, the bank now sees West Texas Intermediate (WTI) prices avera
Singapore’s offshore vessel owner Atlantic Navigation has secured work for ten of its offshore supply vessels in the Middle East. The company on Friday said the combined value of the vessel charters was $236 million. The vessels will work for an undisclosed national oil company. According to Atlanti
Vallianz Holdings, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has won contracts worth up to $210 million in total. According to the Vallianz’s press release on Monday, following these contract wins, the company has set a new record of $1.2 bil
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Iran’s energy sector is attracting investments from around the world following the recent lifting of sanctions on crude oil exports. The Singapore-based firm Kim Heng Offshore & Marine on Friday said it signed a memorandum of understanding with the Iran Marine Fund to provide its technical expertise
By Sarah McFarlane LONDON (Reuters) – Oil prices rose towards six-month highs on Thursday, supported by data from the International Energy Agency (IEA) showing tightening supply in addition to a surprise drop in U.S. crude inventories. Brent crude futures <LCOc1> were trading at $47.87 per barrel at
Global oil supplies rose 250 000 barrels per day (250 kb/d) in April from the preceding month to 96.2 mb/d as higher OPEC output more than offset deepening declines in non-OPEC countries, IEA said in its Oil Market Report for May. But year-on-year, world output grew by just 50 kb/d in April versus t
Germany’s Siemens has shipped its first Industrial Trent 60 gas turbine generator package from its manufacturing facility in Mount Vernon, USA, to Abu Dhabi Marine Operating Company’s (ADMA-OPCO) Satah Al-Razboot (SARB) offshore oil field project on Zirku Island. According to a statement made on Wed
Average full-cycle costs at major European oil companies fell by 13% last year, according to Fitch Ratings’ analysis. All-in upstream costs remain well above current oil and gas prices, but the integrated business model of these firms make them more resilient to low crude prices. According to the cr
DHAHRAN, Saudi Arabia (Reuters) – State oil company Saudi Aramco wants to expand globally and is looking at potential joint ventures in several countries, including Indonesia, India, the United States, Vietnam and China, chief executive Amin Nasser said on Tuesday. “We are looking at the current mar
