Russian Billionaire Nears Deal for E.ON's North Sea Assets

Russian billionaire Mikhail Fridman's LetterOne fund has emerged as the front runner for the acquisition of German utility E.ON's Norwegian North Sea assets, three

Search for Ship Lost in Hurricane a Big Challenge

Deep seas may complicate efforts to find the sunken U.S. cargo ship lost off the Bahamas during Hurricane Joaquin, a federal safety investigator said, as a search

California's Monterey Oil Deposits Seen at 21 mln bbls

Unconventional oil and gas deposits in deeper portions of California's Monterey formation may not be as prolific as once estimated, the U.S. Geological Survey said on Tuesday.

Nigeria Arrests Oil Tycoon

Nigeria has arrested the chairman of a local oil firm, a security official said on Tuesday, as part of a widening graft investigation in Africa's biggest petroleum

Pluspetrol, Partners Offer 3 Natural Gasoline Cargoes

Argentina's oil firm Pluspetrol and partners in Peru have launched a tender to sell three 300,000 barrel cargoes of natural gasoline for delivery from Oct. 14 to Nov.

Weak Capesize Rates Depress Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on weak demand for capesize vessels. The overall index,

Oil Hits Month-High; Saudi-Russia Talks

Crude prices hit one-month highs on Tuesday after a new U.S. forecast showed tighter oil supplies next year, while and Russia, Saudi Arabia and other big producers

Areva, EDF to Keep 66 pct of Nuclear Reactor Firm

The French government wants utility EDF and nuclear group Areva, both state-owned, to keep a combined 66 percent stake in Areva's former reactor building arm Areva NP,

U.S. EIA Sees Tighter 2016 Oil Market as Demand Accelerates

Global oil demand will grow by the most in six years in 2016 while non-OPEC supply stalls, according to a monthly U.S. energy report that suggests a surplus of

Morocco to Shortlist 3 Companies for LNG Imports Deal

Morocco expects to shortlist three companies for its new long-term contracts to import liquefied natural gas (LNG) within the next two weeks, its energy minister said on Tuesday.

Oil Edges Above $50 on Speculation

Reuters - Oil prices rose on Tuesday, heading for the first three-day gain in five weeks, on signals that the world's biggest producers of crude may act jointly to support prices,

U.S. Investigators Head to Florida to Probe Ship Lost in Hurricane

Federal safety investigators traveled to Florida on Tuesday to investigate the U.S. container ship lost at sea after being hit by powerful Hurricane Joaquin, leaving

OMV CEO: Job Cut Not Currently on Agenda

Austrian oil and gas group OMV is not currently planning a 20 percent workforce cut, Chief Executive Rainer Seele told Reuters on Tuesday. "We are not discussing

Poland's Lotos Launches Test Production at Baltic Oil Field

Poland's second-biggest oil refiner Lotos has launched test production at its oil field at the Baltic Sea, the group's key upstream project, the company said on Tuesday.

Egypt Plans New Mediterranean Gas Exploration

Egypt is preparing to launch a new bidding round for gas exploration off the Mediterranean coast in the first half of 2016, Khaled Abdel Badie, the head of the

No Retrofit Bonanza for Tank Car Makers

When U.S. regulators adopted new rules last May to make hauling crude by rail safer, shippers anticipated relatively moderate costs and adjustments while rail tank

Croatia's LNG Hrvatska Extends Bid Deadline for LNG Terminal

Croatian liquefied natural gas (LNG) terminal developer LNG Hrvatska has extended a deadline for investors to express interest in building a terminal in the northern Adriatic to Dec.

U.S. Shale Oil Needs $80 to Grow

U.S. oil production growth will stop this month and begin to decline early next year due to low oil prices, the former head of oil firm EOG Resources, Mark Papa, said on Tuesday.

Russia's Gazprom to Halve TurkStream Pipeline Capacity

Gazprom has almost halved the planned capacity of its TurkStream gas pipeline project to 32 billion cubic metres (bcm) per year from an original capacity of 63 bcm,

Total's CEO: Opportunities in Low Oil Price Environment

The current low oil price environment is an opportunity for oil and gas major Total to realign its costs, drive efficiency in upstream operations and rediscuss tax issues with host producing nations,

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