Crude pared gains after hitting a three-year high in New York as prospects for accelerating supply damped enthusiasm for the rally and traders curbed bullish bets before the US holiday. Futures closed just 0.3 percent higher after surging past US$75 a barrel earlier in…
Following Equinor’s sanction of the giant Troll project in the Norwegian part of the North Sea, offshore vessel owner DeepOcean has confirmed securing a ‘significant’ contract to support the project. DeepOcean will be performing marine operations on Equinor’s Troll Phase 3 project in the…
Malaysia’s state energy company Petronas has bought its first ever US oil cargo of one million barrels of Mars crude, expected to arrive at its Malacca refinery in September, two sources with knowledge of the matter said on the 3rd July. One of the…
South Sudan’s plan to boost oil production should help it fund a forthcoming transitional government who seeks to end more than four years of civil war, the US ambassador has said. President Salva Kiir and rebel leader Riek Machar, still in talks in neighbouring…
SunPower one of the world’s most innovative and sustainable energy companies headquartered in California’s Silicon Valley, has joined the Mission SolarStratos expedition as the exclusive solar cell provider for its aircraft. Within the next two years, SolarStratos is expected to be the first solar-powered…
Esso Exploration & Production Guyana Ltd. (EEPGL) has let contracts to SBM Offshore of Amsterdam for the front-end engineering and design of a second floating production, storage, and offloading vessel for the Liza development on the Stabroek block offshore Guyana. EEPGL operates Stabroek block…
Norway’s Equinor and the partners in the Troll licence have submitted the plan for further development of the gigantic Troll field on the Norwegian continental shelf (NCS) to the Ministry of Petroleum and Energy on the 3rd July. Located in the North Sea, Troll…
Owners of an idled oil refinery in St Croix, US Virgin Islands, which was once one of the world’s largest refineries, plan to invest US$1.4 billion to refurbish and restart a portion of the plant, they said on the 2nd July. ArcLight Capital Partners,…
BP Plc and its partners have announced that they started natural gas production from Shah Deniz Phase 2 offshore Azerbaijan. The US$28-billion project is the first Caspian Sea subsea development. Shah Deniz 2, expected to produce 16 billion cubic metres of gas/year, is the…
French renewable energy developer Eurowatt has placed an engineering, procurement and construction (EPC) order for the 26 MW La Crémière wind park to be located in the Pas de Calais department, within the Hauts de France region, in Northern France. The EPC contract includes…
