Energy

Chevron Wins Dismissal of Claims of Poor Savings Plan Oversight

A U.S. judge has dismissed a lawsuit by Chevron Corp workers who said the oil company breached its fiduciary duties by putting costly and poorly performing investment

Shell's US Deal to Unlock Global Oil Asset Disposals

The $425 million deal in the Gulf of Mexico is welcome news for the Anglo-Dutch oil and gas giant which has struggled to kick off its plan to dispose of $30 billion

Statoil Plans Barents Sea Exploration

Statoil aims to conduct a major exploration campaign in several parts of the Barents Sea in 2017. The company is also strengthening its position in the area through

Libya Oil Guards to Close Two Oilfields

A Libyan armed force controlling some of the country's southern oilfields will close two of them down because the government has not paid the funds needed to maintain security operations,

NPD’s IOR Prize Awarded to Åsgard Licence

Director General of the Norwegian Petroleum Directorate (NPD), Bente Nylund, announced at the ONS 2016 Tuesday that the Åsgard licence was awarded the NPD’s prize

DNB: Oil Industry Suppliers Face Tough Road Ahead

Rig and service vessel owners face high debt, shrinking market. Restructuring the debt of struggling offshore oil service vessel (OSV) and drilling rig companies

Statoil: Cost Cutting Revives Previously Unprofitable Norway Projects

Norwegian oil major Statoil said on Tuesday it will take a fresh look at projects previously deemed too expensive after successfully launching the Gullfaks Rimfaksdalen

Asian Refining Margin Rebound may be Short-Lived

High margins may prompt refiners to increase run rates; Singapore refining margins to Dubai crude double year ago level. A rapid rebound in Asian refining margins

Statoil's Exploration Chief Sees Supply Crunch Coming

Oil companies are not exploring enough and heading for a supply crunch in the coming decades, Statoil's exploration chief said on Tuesday. The industry has been slashing jobs,

BP Plans Azeri Platform Maintenance in Q4

British oil company BP will shut down one of its oil Azeri platforms in Azerbaijan for planned maintenance in the fourth quarter of 2016, Bakhtiyar Aslanbayli, BP Azerbaijan vice president,

Iraq Blacklists Tankers Lifting Kurdish Crude

Iraqi state oil firm SOMO has blacklisted three tankers involved in shipping crude from Kurdistan, stepping up pressure on the semi-autonomous region amid tense talks on sharing oil revenue.

Iran Inks Oil Deals with Foreign Firms

Iran has signed seven new initial agreements with foreign oil companies, Ali Kardor, managing director of the National Iranian Oil Company (NIOC), was quoted as

Fugro Acquires 'Fit for Nuclear' Status

A Fugro manufacturing centre that specialises in marine geotechnics has met Nuclear AMRC’s (Advanced Manufacturing Research Centre) exacting marque of supplier competence for nuclear contracts.

Chevron and ENN Sign LNG Sales and Purchase Agreement

Chevron Corporation announced today that its wholly-owned subsidiary, Chevron U.S.A. Inc., has signed a binding LNG Sales and Purchase Agreement (SPA) with ENN

Jt Study by MOL, Yokohama University for Improving Ocean Shipping Market Forecast

 Mitsui O.S.K. Lines, Ltd. today announced that the company and its subsidiary MOL Information Systems, Ltd. have signed a contract with Yokohama National University

Shell Marine to Showcase New LubeMonitor service at SMM

Shell Marine will preview its revitalised Shell LubeMonitor service, a cylinder monitoring service at SMM, held in Hamburg, Germany from Sept 6-10, 2016. The revamped service will be simpler,

DNV GL Launches New Approach to Manage Uncertainty in Risk Assessment

There is increasing emphasis from regulators on addressing uncertainty in risk assessments to improve safety. DNV GL’s new paper, ‘Enabling confidence – addressing uncertainty in risk assessments’,

Gazprom Says Q2 Net Profit Down 17%

Second-quarter net income of Russian gas giant Gazprom declined by 17 percent year-on-year to 244.9 billion roubles ($3.8 billion), the company said on Monday, as spendings grew.

Norway Asks ENI to Prevent Future Disruptions at Arctic Field

Norwegian Petroleum Safety Authority (PSA) asked Italy's oil firm ENI on Monday to present plans on how to avoid power disruptions at its Goliat oil platform in the Barents Sea.

Colorado Anti-fracking Measures Fail to Qualify for Ballot

Environmental groups have failed to gather enough signatures to put two measures on Colorado's ballot in November that aimed to curb fracking and oil and gas work, the state said on Monday.

 
 
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