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…
Shell Offshore, Inc has started production – around one-year ahead of schedule – at the first phase of Kaikias, a subsea development in the US Gulf of Mexico. According to Shell, the project’s estimated peak production is 40,000 barrels of oil equivalent per day (boe/d). Shell…
Scotland’s First Minister Nicola Sturgeon has announced £4.9 million in funding as part of a £31 million investment being made by Baker Hughes GE (BHGE) in a subsea equipment building facility in the north-east of Scotland. According to BGHE, the funding package will support…
The second line of the TurkStream gas pipeline, intended to ship Russian gas to southern European countries, will be directed to Bulgaria, Bulgarian Prime Minister Boyko Borissov announced on the 30th May after talks with Russian President Vladimir Putin. The gas pipeline is part…
Japan’s Mitsubishi Corporation has been awarded a contract for port construction in the Republic of Iraq. Extended by the General Company for Ports of Iraq (GCPI), the contract covers a port rehabilitation project in the country’s southern region of Basra and is valued at…
The number of electric and plug-in hybrid cars on the world’s roads exceeded three million in 2017, a 54% increase compared with 2016, according to the latest edition of the International Energy Agency’s Global Electric Vehicles Outlook. China remained by far the largest electric…
