News
ExxonMobil to spend more in 2017
U.S. oil giant ExxonMobil will increase its spending this year by 16 percent compared to the previous year and start up five major upstream projects in the next two years. ExxonMobil Corporation is positioned to succeed in any price environment by maximizing the competitive advantages of its integra
Cooper Energy leaves international ops to focus on Australia
Cooper Energy Limited, an Australian oil and gas E&P company, has ceased all international operations with the closure of operations in Tunisia and the completion of the sale of Indonesian operations. Cooper said on Thursday that the company received the initial consideration of $500,000 and 180,000
BP, Clean Energy in U.S. renewable natural gas deal
UK-based energy giant and LNG player BP agreed on Wednesday to buy Clean Energy Fuels Corp’s biomethane production facilities in the U.S. for $155 million. BP will take over Clean Energy’s existing and two new biomethane production sites as well existing third party supply contracts for renewable na
Gazprom: Russian gas exports to Greece rising
Gazprom’s gas exports to the Greek market in 2016 reached 2.68 billion cubic meters, 35 percent increase from the volumes recorded in 2015.
Eni plans to boost LNG portfolio
Italy’s Eni intends to turn its gas and power business into the company’s global gas and LNG marketing arm.
Höegh LNG Partners Q4 profit jumps
Höegh LNG Partners, the Bermuda-based limited partnership formed by Norway’s Höegh LNG, reported a rise in its net income for the fourth quarter of 2016.
ILA Calls Off Strike, Seeks Meeting with Congress
The International Longshoremen’s Association (ILA) urged its members not to stage any strikes as the union intends to seek emergency meeting with members of the US Congress. Last week, the association called for a one-day shutdown of US East Coast and Gulf Coast ports to protest over job losses. The
Clarksons: Product Tanker Fleet Enters Moderate Growth Era
Product tanker orderbook has dropped to its lowest level in nearly 17 years as it was equivalent to 10.2% of fleet capacity at the start of February 2017, a low not seen since August 2000, according to Clarksons Research. At the start of February, the product tanker orderbook of 10,000+ dwt vessels
Eni posts Q4 profit
Italian oil and gas company Eni on Wednesday reported a fourth-quarter profit as oil and gas prices rose. Eni reported an adjusted net profit of 459 million euros ($484 million) for the fourth quarter as compared to an adjusted net loss of 301 million euros in the same period a year ago. This is the
Dubai firm buys WorleyParsons stake after takeover offer rejected
Dubai-based Dar Group has bought a 13.35 percent stake in the oilfield services provider WorleyParsons, after its takeover bid in 2016 was rejected. “Dar Group views WorleyParsons as the preeminent energy and design consultancy globally and respects the role the Chairman, Board and management team h
IOG presses ahead with Southern North Sea pipeline buy
Independent Oil and Gas (IOG) expects to sign a sale and purchase agreement for the UK Southern North Sea pipeline by the end of March. The company said on Tuesday that “substantial progress” was made on the agreement and it’s now expected that all the pipeline owners should be in a position to sign
OPL 245 block deal: Eni adamant it did nothing wrong
Italian oil giant Eni is adamant it did nothing wrong when it, together with Shell, bought a stake in the OPL 245 field in Nigeria back in 2011. To remind, according to reports from February, Italian prosecutors have charged Eni and its CEO Claudio Descalzi with international corruption over the con
GeoSea to Build Large Offshore Wind Farms with New Next-Gen Vessel
As of 2019, GeoSea will use a next generation vessel – named Orion – for the construction of the large offshore wind farms, after its mother company DEME placed an order for the 216.5m DP3 installation vessel with COSCO shipyard in China.
Neptune LNG seeking permit to decommission deepwater LNG port
U.S. Army Corps of Engineers said that Neptune LNG filed for a permit to decommission the Neptune Deepwater LNG port in U.S. waters off the coast of Marblehead, Massachusetts.