The shareholders of Royal Dutch Shell will vote in favour of the proposed Shell-BG combination, a poll conducted last week by LNG World News reveals.
Schlumberger, world’s largest oilfield services provider slashed 10.000 jobs in the fourth quarter of 2015. The company said that the reason was an expected extended activity weakness in the first half of 2016. This led the company to recognize in the fourth quarter $530 million in pretax restructur
Fitch Ratings has lowered its corporate forecast assumptions for oil and gas as follows due to recent weakening in supply and demand fundamentals: –2016 oil price base case: $45/bbl; –Long-term base case oil price: $65/bbl; –2016 oil price stress case: $35/bbl; –2016 natural gas base case: $2.50/mcf
Britain’s BP Plc aims to double natural gas production in Egypt in the next four years despite weak oil prices as Egypt’s burgeoning energy market offers hope for its battered economy.
Shipping companies are being strongly encouraged to use new ‘Transitional Measures for Shipowners Selling Ships for Recycling’ launched by an inter-industry working group led by the International Chamber of Shipping (ICS). According to ICS, the purpose of the new Transitional Measures is to help shi
As we all know by now, in the past 18 months oil prices fell significantly, due to increased production in the U.S., and OPEC’s decision not to act as the swing producer, from $114 a barrel in June 2014, to below $30 on Monday, a knee-jerk reaction to the lifting of the sanctions against Iran. [&hel
Exceptionally mild temperatures in the early part of the winter in Japan, Europe and the United States – alongside weak economic sentiment in China, Brazil, Russia and other commodity-dependent economies – saw global oil demand growth flip from a near five-year high in the third quarter of last year
Oil and gas workers saw their salaries fall 1.4 percent over the past year after a sharp decline in oil prices forced their employers to trim costs, but their average global salaries remain high at more than $80,000 (£56,057) a year.
The long awaited day when the economic sanctions against Iran will be lifted has come as the country has met all the necessary steps to start the implementation of the Joint Comprehensive Plan of Action, the Vienna-based International Atomic Energy Agency said on Saturday. Now that sanctions are bei
Saudi Arabia’s reluctance to cut production to maintain its share of the global crude market has paid off, Douglas-Westwood, an energy intelligence group, said in its DW Monday report. By not “blinking first”, the Kingdom has succeeded in driving rigs out of the US shale market with current rotary r
Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country over the weekend.
Popular news, January 11 – 17, 2016
Brent crude futures plunged more than 4 percent to fresh 12-year lows on Friday as the market braced for increased Iranian oil exports, with the lifting of international sanctions possible within days.
Iran reportedly kicked off talks with foreign companies to sell shares in a liquefied natural gas project it is looking to bring back on track once the sanctions are lifted.
