Energy News

 

Federal Judge Orders Keystone XL Pipeline Review

Aug 16, 2018

A federal judge in Montana on Wednesday ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL oil pipeline, possibly delaying the project's construction and dealing the latest setback for Canada's TransCanada Corp…

Mexico's Obrador Pledges More Than $11 Bln for Refineries

Aug 14, 2018

Mexican President-elect Andres Manuel Lopez Obrador said on Monday his administration will invest more than $11 billion to boost refining capacity in order to curb growing fuel imports.Lopez Obrador, who will take office on Dec. 1, told reporters his government plans to invest $2…

Tellurian to Start Building Louisiana LNG Export Terminal in 2019

Aug 08, 2018

U.S. liquefied natural gas company Tellurian Inc said on Wednesday it remains on track to begin construction of its Driftwood LNG export terminal in Louisiana in the first half of 2019 and begin operations in 2023.Tellurian President and CEO…

Petronas Delivers First LNG Cargo to Hokkaido Electric

Aug 05, 2018

Malaysian state-owned oilcompany Petroliam Nasional Bhd (Petronas) through its subsidiary, Malaysia LNG (MLNG) delivered its first liquefied natural gas (LNG) cargo to Japan's Hokkaido Electric Power on August 1st, 2018.This delivery marks the…

Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040

Jul 31, 2018

Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday.The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator…

How BP Found Shale Profits With 'Crystal Ball' Oilfield Technology

Jul 30, 2018

In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP's shale business turn a profit for the first time.Thousands of automated wells feed data on their performance into the firm's supercomputers each evening…

Novatek Spuds First Well at North-Obskiy

Jul 29, 2018

PAO Novatek announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area located in the shallow waters of the Ob Bay.The initial well is drilled using a jack-up floating drilling rig “Amazon” leased from “Gazprom flot”…

Oil Majors Win Dismissal of New York City Climate Lawsuit

Jul 20, 2018

A U.S. judge on Thursday dismissed a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels.In dismissing the city's claims against Chevron Corp , BP Plc, ConocoPhillips…

Big Crude Oil Margins Should Boost US Refiner Earnings

Jul 19, 2018

U.S. refiners ran full-tilt in the second quarter, fueled by cheap domestic crude and fat margins that should boost earnings, though their heavy activity could eventually saturate the market with gasoline, sapping profits down the road.U.S. independent refiners…

Hundreds of Oil Workers Strike in Norway

Jul 10, 2018

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher.One union said hundreds…

Equinor Acquires Energy Trader Danske Commodities

Jul 08, 2018

Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). 'Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million…

Oil Nears 3-1/2-year High on Middle East Sabre Rattling

Jul 05, 2018

OPEC supply cuts since 2017 have tightened market; oil has also risen on U.S. sanctions threat against Iran. Oil traded near its highest in 3-1/2 years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from U…

BP to Boost Stake in UK's 'Giant' Clair Field

Jul 04, 2018

BP announced that it has entered into agreements with ConocoPhillips that will significantly increase its holding in the Clair field, a core asset of BP’s North Sea business in the UK, while also selling its non-operating interest in the Kuparuk and satellite oilfields in Alaska…

ConocoPhillips sells 16.5 pct of North Sea Asset to BP

Jul 03, 2018

U.S. oil producer ConocoPhillips said on Tuesday it would sell a 16.5 percent stake in the Clair field to oil major BP for an undisclosed price. Houston, Texas-based ConocoPhillips will retain a 7.5 percent interest in the North Sea offshore oil field through a unit while BP will hold a 45…

Seadrill Exits Chapter 11

Jul 02, 2018

Offshore drilling rig contractor Seadrill said on Monday it had successfully completed its reorganisation, emerging from a U.S. Chapter 11 bankruptcy process launched last September. The company, once the world's largest offshore driller by the market capitalisation…

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