News

  • Saudi Crude Gets Pricier for Some Buyers

    Saudi Arabia has kept oil pricing unchanged for its main market of Asia, defying expectations of a cut after a key OPEC+ committee expressed confidence that crude supply and demand are re-balancing.   State oil producer Saudi Aramco left its Asia pricing for March at…

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  • Neptune picks up permit for North Sea appraisal well

    The Norwegian Petroleum Directorate (NPD) has granted Neptune Energy a drilling permit for an appraisal well offshore Norway.   The well 34/4-16 S will be drilled from the Deepsea Yantai drilling rig after drilling development wells on the Gjøa field.   The drilling programme for…

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  • Iraq Barters Heavy Fuel Oil with Lebanon

    Iraq’s Cabinet has agreed to supply 500,000 tons of heavy fuel oil annually to Lebanon.   According to a statement from Prime Minister Mustafa Al-Kadhimi, the oil will be paid for in a barter deal, in return for services, medical goods, medicines and consulting services….

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  • Offshore wind market set for record growth

    Despite the COVID-19 pandemic, the world’s installed offshore wind capacity rose by 15% in 2020, reaching 31.9 GW at year-end, from 27.7 GW at the end of 2019, according to Rystad Energy.   China was the main contributor in 2020, accounting for 39% of last…

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  • Gazprom and Hungary Expanding Cooperation in Gas Sector

    A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, has taken place via a video call.   The parties discussed the state and prospects of their cooperation in the gas sector….

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  • Limetree Bay restarts long-idled St Croix refinery

    EIG Global Energy Partners-controlled Limetree Bay Ventures LLC has completed its long-planned restart of an idled refinery previously owned and operated by Hovensa LLC at Limetree Bay on St Croix, US Virgin Islands.   Now operated by Limetree Bay Refining LLC and equipped with a…

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