Poland is confident of meeting a 2022 deadline for completing a new Baltic Sea gas pipeline to Norway, a government official said, despite a report that the project could be delayed. The Polish tabloid Fakt reported last week that the Baltic Pipe project, which…
Italian contractor Saipem has been awarded a pipeline project in the Engineering & Construction (E&C) offshore sector in the Middle East worth approximately US$1.3 billion. The Italian company said on the 4th June that the contract involves engineering, procurement, construction and installation (EPCI) activities…
The state-owned Qatar Petroleum has signed an agreement to acquire a 30 percent stake in two Exxon Mobil affiliates in Argentina. The agreement gives the Qatari oil and gas company shares in ExxonMobil Exploration Argentina SRL and Mobil Argentina SA for exploration, drilling and…
Iran started swapping oil with Iraq’s Kirkuk on the 3rd June, after the two neighbours sorted out the logistic issues which were preventing the swap’s start-up. According to the CIF-based swap deal, Iran receives 30,000 to 60,000 bpd of oil from the Kirkuk oil…
AIM-listed Union Jack Oil has acquired a further 12.5% in the licences PEDL180 and PEDL182 containing the Wressle discovery and the Broughton North Prospect, for a Deferred Consideration of £1.04 million from Celtique Energie Petroleum. Highlights Union Jack acquires a further 12.5% in the…
Officials from the American Petroleum Institute, Natural Gas Supply Association and eight other national energy business groups have strongly criticised ongoing Trump administration plans to keep otherwise failing coal-fired and nuclear power plants open ostensibly to assure electricity service will remain reliable nationwide. They…
Increased geopolitical risk has substantially increased oil prices since last fall. WTI averaged US$55/bbl in the fourth quarter of 2017 and US$51/bbl for all of 2017. Political risk will remain elevated for several months at least, primarily as it relates to Iran and Venezuela….
French oil major Total is continuing talks with farmers opposed to its planned La Mede biodiesel refinery and plans to use 50,000 tonnes of French rapeseed to supply the facility, Chief Executive Patrick Pouyanne said on the 1st June. Mr Pouyanne said the launch…
Equinor Energy has secured approval from Norway’s Petroleum Safety Authority for exploration drilling in block 6608/10 in the Norwegian Sea. Starting this month, the semi-submersible Songa Encourage will drill appraisal well 6608/10-18 in 373 metres (1,224 feet) water depth in production licence 128 D,…
Schlumberger has decided to withdraw from its OneLNG upstream joint venture with Golar due to a lack of progress at Ophir Energy’s Fortuna FLNG project offshore Equatorial Guinea. Golar pointed out that the recent LNG price increases had strengthened the solid financial returns already…
