News

  • Oil Rises as ‘Alarm Bells’ Sound Over Unraveling Iran Nuke Deal

    Crude rose after Israeli intelligence about Iranian nuclear ambitions heightened concern an international accord may unravel.   Futures in New York rose 0.7 percent on the 30th April to settle just pennies shy of a three-year high. Israeli Prime Minister Benjamin Netanyahu said Iran had…

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  • World’s First Autodocking Installation Successfully Tested by Wärtsilä

    The innovative Wärtsilä autodocking technology tests were carried out with the ‘Folgefonn’ ferry owned by Norled.   The technology group Wärtsilä has successfully carried out testing of its innovative autodocking technology. The tests were carried out with the ‘Folgefonn’, an 83-metre long ferry owned by…

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  • ExxonMobil Says PNG LNG Plant Back To Normal Production Rates

    ExxonMobil has said that it expected the facility to reach full capacity in May and confirmed that exports of LNG have resumed.   “Production has been gradually increasing since the Hides gas conditioning plant and one train at the PNG LNG plant restarted earlier this…

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  • Maritime border issues may halt CRD offshore Vietnam

    Dril-Quip has warned that due to territorial discussions between China and Vietnam, Repsol’s Ca Rong Dong (CRD) project offshore Vietnam may experience delays or even be cancelled.   Earlier this year the company won a contract to supply top-tensioned riser systems and related services for…

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  • USA: Mixed reactions for proposal to change drilling rules

    The decision by the US regulator BSEE to update oil and gas drilling regulations has been met with opposing comments from the American Petroleum Institute (API) and Earthjustice.   Following the US Bureau of Safety and Environmental Enforcement’s announcement on the 27th April related to…

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  • Premier Oil selling Babbage Area stake to cut debt

    UK’s Premier Oil is selling its stake in the Babbage Area in the Southern North Sea off the UK to pay down debt. Verus Petroleum has been revealed as the buyer.   Verus will acquire a 47 percent interest in the Babbage gas field, a…

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  • India Aims To Split GAIL Within A Year To Open Up Gas Sector

    India plans to split state-run gas utility GAIL by March next year to create two companies: one marketing gas, and another operating pipelines which can be used by consumers who buy direct from producers, the head of the sector’s regulator said.   GAIL (India) Ltd…

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