News

  • Enbridge to sell US midstream business

    Enbridge (US) Inc, an indirect subsidiary of Enbridge Inc, has agreed to sell Midcoast Operating LP and its subsidiaries to AL Midcoast Holdings LLC, an affiliate of ArcLight Capital Partners LLC, for US$1.12 billion in cash.   The Midcoast businesses conduct the company’s US natural…

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  • Russia’s Oil Exports To Europe Decline As Quality Worsens

    Russia has exported less crude oil to Europe this year as the quality of the fuel on offer deteriorated and tense diplomatic relations prompted it to redirect more volumes to China.   Russia increased oil pipeline exports to China by almost 50 percent in January-April…

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  • WTI Crude Price ‘Will Struggle’ to Stay Above US$75

    West Texas Intermediate (WTI) crude oil prices will struggle to move sustainably above US$75 per barrel this year due to strong supply growth.   That is the view of oil and gas analysts at BMI Research, who expressed the sentiment when answering questions following a…

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  • Kosmos provides offshore Suriname, West Africa exploration update

    Kosmos Energy has spudded the Anapai-1 exploration well in block 45 offshore Suriname, targeting an early Cretaceous structural-stratigraphic trap. Results should follow later this month.   Under the company’s alliance with BP, Kosmos has entered into petroleum contracts covering blocks 10 and 13 offshore São…

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  • Rolls-Royce to maintain Siem Offshore AHTS deck machinery

    Rolls-Royce has signed a long-term service agreement with offshore vessel owner Siem Offshore for the maintenance of its deck machinery installations aboard 12 anchor handling vessels.   Rolls-Royce said on the 9th May that the five-year maintenance inspection programme (MIP) was the formalisation of a…

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  • BP signs Contract to Develop Oil

    The Ministry of Oil has announced that BP has signed a contract to develop the Kirkuk oil fields.   The deal with the North Oil Company (NOC) will see BP will boost output capacity from the six fields in the Kirkuk region to more than…

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  • Oil soars, shares rattled as Trump dumps Iran nuclear deal

    Crude oil prices jumped back to near 3-1/2-year highs on the 9th May after President Donald Trump pulled the United States out of an international nuclear deal with Iran, sparking worries about fresh tension in the Middle East and global oil supplies.   Asian shares…

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