News
Trump picks ex-Navy Seal to lead Department of Interior
U.S. president-elect Donald Trump has nominated Ryan Zinke, an ex-Navy Seal and current Congressman from Montana to lead the Department of Interior. If approved by the Senate, Zinke will be responsible for the management of public lands, water, wildlife, energy resources, conservation, restoration,
Top Chinese Ports within ECAs Enforcing Sulfur Cap
Starting from January 1, 2017, eleven key ports in China within the three designated emission control areas (ECAs) will require ships at berth to use fuel with less than 0.5 percent sulfur content, The Standard Club informed. The ports in question are Tianjin, Qinhuangdao, Tangshan, Huanghua, Shenzh
18 Injured After Tanker Explodes in Manila Bay
Eighteen crew members suffered injuries after a product tanker caught fire and exploded in Manila Bay, the Philippines, on Wednesday, December 14, according to local media. The product tanker, identified as the 2012-built M/TKR Reia Faye, was docked near the shore of Bataan and waiting for loading i
Welsh company gets EU funds to develop oil & gas tech
TWI Technology Centre Wales has received a £1 million ($1.24M) EU funding boost to develop new technology to improve the performance of offshore oil and gas production. TWI, an independent research and technology organization, said on Friday it will work with European partners to develop new technol
World Bank allocates $500M for Ghana’s Sankofa project
World Bank members IFC and MIGA will commit more than half a billion dollars in debt and guarantees to support Vitol and Eni’s Sankofa offshore oil and natural gas project in Ghana. The $7.7 billion Sankofa project will be developed by Vitol Ghana and Eni Ghana, in partnership with Ghana’s National
Gas Natural Fenosa opens second LNG station in France
Gas Natural Fenosa’s unit, Gas Natural Europe opened an LNG station in Poitiers, France making it the GNF’s second such facility in the country.
Woodside names non-executive director
Australian LNG player Woodside named Larry Archibald as a non-executive director effective February 1,2017.
Petrobras oil and gas production up in November
Brazil’s state-owned energy giant Petrobras said its November oil and gas production rose 1.8 percent compared to the volumes produced in October.
EMGS in New Multi-Client Data Sale
Electromagnetic Geoservices ASA (EMGS) has entered into new data licensing agreements providing it with a net revenue of approximately USD 2 million. USD 1.8 million of these revenues will be recognised in the fourth quarter of 2016, while the remaining USD 0.2 million is prefunding of planned multi
IOG boosts resource estimates for two North Sea licenses
Independent Oil and Gas (IOG) has increased its internal resource estimates for Elgood and Harvey licenses and secured extensions for Harvey and Skipper, all located in the North Sea. The development and production focused company said on Friday the resource increase was based on work undertaken by
National Oilwell Varco absorbs Fjords Processing
Akastor ASA, an oil service investment company, has completed the sale of Fjords Processing to National Oilwell Varco (NOV). The definitive sales agreement between the parties signed on October 27, 2016, was for a debt- and cash-free consideration of NOK 1.2 billion ($145.2 million). The transaction
Sweden says No! to Nord Stream 2 pipeline
Nord Stream 2 pipeline project that will carry Russian gas to the EU through the Baltic Sea, has hit a stumbling block. Namely, the authorities of the Swedish Region Gotland and the municipality Karlshamn have decided not to sign an agreement for the utilization of their respective harbours – Slite
Petrobras produces over 1 billion barrels of oil in pre-salt
Brazil’s state-owned oil company Petrobras and its partners have now produced 1 billion barrels of oil in the pre-salt layer. This total output was achieved just six years after the first production system came on stream in Santos Basin, in Lula field, and 10 years after the first discovery, in 2006
ConocoPhillips gains $1.3B after beating assets sales target in 2016
U.S. oil major ConocoPhillips has surpassed its target for the 2016 planned asset sale gaining $1.3 billion in proceeds that is being used for debt reduction. The proceeds from these dispositions are also being used for share repurchases and general corporate purposes. The company said on Wednesday