News
Eni expands exploration acreage offshore Ivory Coast
Italy’s Eni grabbed the majority stakes in two new exploration block approximately 50 kilometers off the shore of the Ivory Coast.
Scottish duo to fund oil & gas innovations
Industry Technology Facilitator (ITF), an oil industry trade organization, and the Oil & Gas Innovation Centre (OGIC) have teamed up to fund and support the development of innovations in the industry. Namely, OGIC has made £1 million ($1.25 million) available to support companies with projects that
RockRose closing in on multiple North Sea assets buy
Oil and gas production company RockRose Energy has made progress with its plan to buy a pair of North Sea assets from Maersk Oil. In addition, the oil company is buying two Southern North Sea gas fields. The companny announced on December 22, 2016, that it had signed sale and purchase agreements wit
Australia Set to Reform Its Coastal Shipping
The Australian Government is proposing a reform of the country’s coastal shipping sector stating as its aim the reduction of regulatory burden imposed on the sector. The proposals were released in a discussion paper titled Coastal Shipping Reforms Discussion Paper and the government is seeking comme
ICE to start trading first U.S. LNG futures contract
Intercontinental Exchange (ICE) will begin trading a first-ever U.S. LNG futures contract in a response to the growing U.S. LNG export volumes.
Wood Mackenzie: North America Should Take Larger Share of Global Bunker Market
North America could take a larger share of the global bunker market in the future due to its capabilities to supply ultra low sulfur fuel oil (ULSFO) components and gas oil, according to Wood Mackenzie. The global total demand for fuel oil and gas oil bunkers has changed little since 2010. However,
Owners Sending Fewer Ships to Scrapyards
Shipowners’ interest is being diverted away from the recycling market with secondhand vessel values rising, according to Clarksons. This causes new tonnage in the market to generate firm competition between cash buyers. The number of Capesize bulk carriers sold for demolition in the year to date is
Report: Poland plans to restrict natural gas supplies from single source
Poland could limit the volumes of liquefied natural gas (LNG) imports from a single supplier to 70 percent of the total import volumes into the country.
Petrobras debt, operational metrics improve despite profit miss
By Guillermo Parra-Bernal and Marta Nogueira SAO PAULO/RIO DE JANEIRO (Reuters) – Petróleo Brasileiro SA cut debt by 20 percent and had positive free cash flow for the seventh straight quarter during the fourth quarter, in a further sign of recovery at Brazil’s state-controlled oil company in spite
NZ oil minister expects activity to pick up. Offers large offshore area for exploration
New Zealand has offered 481.737 square kilometers of offshore and onshore acreage for oil and gas exploration. The oil companies interested to obtain the exploration permits have until September 6, 2017 to submit their bids. The offered area includes five offshore release areas (in Northland – Reing
Watch live: Central Gulf of Mexico lease sale
The U.S. Department of Interior and the Bureau of Ocean Energy Management (BOEM) will on Wednesday hold a lease sale offering 48 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development. BOEM said that Lease Sale 247, which includes all unleased and non-
GIIGNL updates its LNG custody transfer handbook
Responding to the changing LNG market conditions, the international group of liquefied natural gas importers (GIIGNL) issued its new LNG custody transfer handbook.
DOE: U.S. LNG exports hit 235 Bcf in Feb-Jan
Liquefied natural gas (LNG) exports from Cheniere’s Sabine Pass liquefaction facility in Louisiana reached 235 billion cubic feet (Bcf) during the February-January period, the latest data from the U.S. Department of Energy shows.
To sell or not to sell: Bowleven weighs options after boardroom row
Following a recent boardroom row, the UK-based oil and gas company Bowleven has launched a strategic review, which might include the sale of its assets or the sale of the entire company. Just last week, most of the company’s board was ousted in a vote called for by the Monaco-based activist sharehol