Iran’s position in the international O&G market was expectedly one of the highlight topics of IP Week, Douglas-Westwood, an energy intelligence group, said in its DW Monday report. Approximately one month after the lifting of EU and US nuclear sanctions on Iran, DW said, the country’s Energy Ministe
Popular news, February 8 – 14, 2016
Oil slid on Thursday, dented by record U.S. crude inventories at the Cushing delivery point, worries about the demand outlook, and as Goldman Sachs said prices would remain low and volatile until the second half of the year.
British oil giant BP has issued its Energy Outlook 2016, forecasting how the energy landscape will look between now and 2035. According to the report fossil fuels are expected to remain the dominant form of energy powering the global expansion: providing around 60% of the additional energy and accou
Having peaked, at a five-year high of 1.6 million barrels per day (mb/d) in 2015, global oil demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down by notable slowdowns in Europe, China and the United States, the newly released IEA Oil Market Report (OMR) for February
Qatar Petroleum has reached an agreement with the U.S. oil juggernaut Chevron to buy a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in Morocco. Under the agreement Qatar Petroleum will acquire an interest in the deep-water leases, while Chevron will retain
Brent oil price reached lows of $27/bbl in mid-January, but has recovered over the past two weeks to above the $30/bbl mark. Nevertheless, volatility is expected to remain as the market is yet to find a new equilibrium. So far, only modest cuts in US shale production have been realised, and global o
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Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros
The international offshore rig count for January 2016 was down both sequentially and year over year, according to a report by Baker Hughes, an oilfield services provider. The international offshore rig count for January 2016 was 242, down 8 from the 250 counted in December 2015, and down 72 from the
Offshore drillers, companies providing drilling rigs for the oil and gas industry’s marine exploration efforts, continue to face murky market conditions, and according to Fitch ratings agency, the situation is nowhere nearly close to improvement. According to Fitch, a 70% drop in oil price, and the
By Amanda Cooper LONDON (Reuters) – Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world’s largest producers could act to boost prices. Russian Foreign Minister Sergei Lavrov
Transport & Offshore Services (TOS), a service provider for the maritime and energy sector, has been awarded a contract to deliver nine platform supply vessels (PSVs) for one client. “Signing a contract for nine state-of-the-art hybrid Platform Supply Vessels is even for TOS a major milestone,” says
The partners in the Leviathan gas field in the Mediterranean Sea, offshore Israel, have signed an agreement worth approx. $1.3 billion for the supply of natural gas from the field to Edeltech Ltd. The partners in the Leviathan project and their holding rates are Noble Energy with 39.66% interest, De
