Austria's OMV Looks to Sell Turkish Unit Petrol Ofisi

Austrian oil group OMV said on Friday that it is putting its Turkish subsidiary Petrol Ofisi up for sale as part of its strategy to dispose of non-core assets.   OMV

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

Cenovus Energy to Sell $5 bln in Securities

Canadian oil producer Cenovus Energy Inc said it would sell up to $5 billion of stock, debt and other securities in one or more tranches, a day after it cuts its dividend,

UK North Sea Oil & Gas Starts at 45-year Low

The number of new exploration wells to be drilled in the British part of the North Sea this year is set to fall to the lowest since the hunt for oil and natural gas began there in the early 1970s,

Infighting Cancels Iran Contract Presentation

Internal clashes over the oil contracts, hardliners oppose contracts, push to have a bigger say. Iran's cancellation of a conference when it had been due to

Aker Solutions Halts Dividend Amid Market Turmoil

Drops dividend to handle difficult market outlook, but backlog above forecast. OSLO, Feb 12 (Reuters) - Norwegian oil engineering firm Aker Solutions said on

Saipem Faces Solo Slog in Low Oil Price World

Shares plunge to near 20-year lows after issue results. A plunge in oil prices and little sign of recovery anytime soon have left Italian oil contractor Saipem

Philippines Mulls Bilateral Sea Talks with China

The Philippines may consider two-way talks with China to resolve a territorial dispute in the South China Sea but only if it wins its case with Beijing at an arbitration tribunal in The Hague,

U.S. Refiners Eye Gasoline Demand After Storms

The prospect that U.S. oil refiners might respond to rising stockpiles of refined fuels and weakening margins by cutting the amount of crude they process has roiled oil markets in recent days.

U.S. Refinery Cuts Quicken, Impact Crude Markets

For the past six years, U.S. refiners from Texas to Philadelphia have bought every barrel of crude they can lay their hands on to cash in on a golden era of healthy margins.

Oil Prices Up, Weekly Loss Looms

U.S. crude surges after hitting 12-year low; more talk of coordinated production cut lifts Brent. Oil prices jumped on Friday on prospects of a coordinated production

Maersk Tankers Project Best Performance

Maersk Tankers emerges from 2015 with its best result in many years. Increasing rates and results from the Taking Lead Strategy mean that Maersk Tankers has achieved an underlying result of USD 156 m,

Adani Ports Income Up by 15%

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter

Shipping Corporation Q3 Profit Surges

The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 31st December 2015 posting a net profit of Rs. 59.66 crores as against a net profit of Rs.

BNP Paribas Exits US Energy Loan Market on Oil Price Rout

France's largest bank BNP Paribas (BNPP.PA> is pulling out of a niche U.S. energy lending business for the second time in four years after plunging oil prices dragged

Total Sees Cash Dividend with Oil at $60/barrel from 2017

Total's Chief Executive Officer Patrick Pouyanne said on Thursday that he expected the company to return paying dividends with 100 percent cash with oil at $60 per barrel from 2017.

Saudi Developer ACWA Power Plans $8 bln Debt Raising

Saudi Arabia's ACWA Power [IPO-ACWA.SE] plans to raise $8 billion of debt in the first half of this year to finance projects that will help to boost its generating

Sundevil Power Files for Bankruptcy

Sundevil Holdings Holdings LLC, which operates two gas-fired power plants in Gila Bend, Arizona filed for U.S. Chapter 11 bankruptcy on Thursday, according to court documents.

Venezuela Proposes OPEC, Non-OPEC Producers "freeze" Oil Supply

Some OPEC countries are trying to achieve a consensus among the group and key non-members for an oil production "freeze", sources familiar with the discussions say,

Total CEO: Refining Capacity Cuts Necessary

Total spurs European shutdowns; urges others to follow suit despite strong profits. Refiners buoyed by cheap oil and fat margins face a return of tougher times due to stubborn overcapacity,

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