Industry News

Iran Opens Naval Base Along Oil Chokepoint

24 September 2020, 2:35pm
Iran's Islamic Revolutionary Guard Corps opened a new naval base along one of the world's busiest oil transit routes.
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Total to Stop Refining Crude at French Facility

24 September 2020, 1:47pm
The French energy giant will replace the facility with plants making renewable fuels and plastics.
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Former PDVSA Trader Charged in US Graft Crackdown

24 September 2020, 1:09pm
A former PDVSA trader was charged with receiving bribes as part of an expansive investigation into traders paying for access to South American oil markets.
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Apache Contract Extension Could Be Worth $100MM

24 September 2020, 12:16pm
Apache Corp. has awarded Archer a four-year contract extension for platform drilling and maintenance services.
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California Is Banning Gasoline Cars

24 September 2020, 12:04pm
California just started the clock on a future that a few years ago would've been unthinkable - dealerships full of nothing but zero-emissions cars.
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More coal was consumed in Indiana than in all but two U.S. states in 2019

24 September 2020, 12:00pm
According to the U.S. Energy Information Administration's (EIA) latest coal data, the 36.7 million short tons of coal consumed in Indiana during 2019 was more than any state in the nation besides Texas and North Dakota. Indiana accounted for 6.5% of the total coal consumed in the United States in 2019.
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Sapura Energy Founder to Retire

24 September 2020, 10:30am
Sapura Energy Berhad has announced that its president and group chief executive officer is planning to retire after leading the group for a quarter of a century.
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Siemens Wins Nigeria LNG Order

24 September 2020, 10:11am
Nigeria LNG has selected Siemens Energy to provide a cryogenic boil-off gas compressor train for its Bonny Island liquefaction plant.
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OGA Appoints Ex-Chevron and BP Rep

24 September 2020, 10:07am
The UK Oil and Gas Authority has announced that it has appointed Andy Brooks as its new Central North Sea area manager.
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Executives Predict 2020-End Oil Price

24 September 2020, 9:13am
The price of West Texas Intermediate oil at the end of 2020 is expected to be between $40 per barrel and $44.99 per barrel.
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NYSE suspends Hermitage stock from trading

24 September 2020, 8:45am

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Oil Drops After Warnings

24 September 2020, 7:51am
Oil dropped following warnings over global energy demand and the state of the U.S. economy.
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KrisEnergy gets funding to bring Cambodia offshore project online

24 September 2020, 7:42am

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Seadrill and Sapura targeted in Brazilian bribery probe

24 September 2020, 6:44am

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Archer wins four-year extension with Apache in North Sea

24 September 2020, 6:14am

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Eidesvik scores one-year extension for Viking Lady PSV

24 September 2020, 6:14am

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World’s 1st shallow-draught icebreaking walk-to-work vessel to get Schottel thrusters

24 September 2020, 5:49am

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Oil Prices Inch Upward on Inventory Report

23 September 2020, 8:10pm
Oil rose after a government report showed US distillate stockpiles declined the most since March but gains were limited.
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Trading Exec Conveys Ominous Forecast for OPEC+

23 September 2020, 3:43pm
"We do not need the extra oil," said the head of commodities trader Mercuria Energy Group.
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Gas Bulls Eye Winter Rally

23 September 2020, 2:41pm
After benchmark US natural gas prices tumbled 22% in the past week, you could be forgiven for thinking that traders would be gloomy.
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Petrobras hits hydrocarbons in Campos Basin well

23 September 2020, 1:39pm

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Libya NOC to Reopen Third Oil Port

23 September 2020, 1:33pm
Libya's state oil company reopened another port, the third to resume operation in less than a week, as a political truce takes hold.
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Feds Indict Former Oil Trader in Ecuador Bribery Probe

23 September 2020, 1:09pm
A former manager at the world's largest independent oil-trading firm, was indicted for allegedly bribing Ecuadorian government officials to get business for his firm with state-owned Petroecuador.
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Shell and Microsoft Embark on New Alliance

23 September 2020, 12:22pm
Shell and Microsoft are embarking on a new strategic alliance to support progress towards a world with net-zero emissions.
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Morrison to Decommission Six GOM Structures

23 September 2020, 12:06pm
Morrison has won a decommissioning project in the shallow waters of the Gulf of Mexico (GOM).
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Chevron Asks Employees to Delete WeChat

23 September 2020, 12:02pm
Chevron Corp. has asked its global employees to remove WeChat from their work phones.
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OPEC+ agreement to reduce production contributes to global oil market rebalancing

23 September 2020, 12:00pm
On April 15, members of the Organization of the Petroleum Exporting Countries (OPEC) and 10 non-OPEC partner countries, collectively known as OPEC+, agreed to reduce crude oil production in response to rapidly increasing global oil inventories in the first quarter of 2020. At the time, efforts to contain the spread of coronavirus resulted in a steep decline in demand for petroleum liquids and lower crude oil prices. Starting in May 2020, the OPEC+ agreement called for a decrease in crude oil output by an initial 9.7 million barrels per day (b/d) that gradually tapers through April 2022, the end of the current agreement period.
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Odfjell Drilling Wins Aker BP Contract

23 September 2020, 11:50am
Aker BP has awarded additional work for Odfjell Drilling's Deepsea Stavanger semi-submersible rig.
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Interventek scoops up Baker Hughes contract

23 September 2020, 11:21am

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OGUK Hails North Sea Grit

23 September 2020, 10:47am
Industry body Oil & Gas UK has hailed the 'grit' and 'resilience' of the thousands of people working in the UK oil and gas sector.
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Shell teams up with Microsoft in push to lower carbon emissions

23 September 2020, 9:17am

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OGA names Central North Sea area manager

23 September 2020, 8:57am

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U.S. crude oil exports have fallen in each month since their record high in February

22 September 2020, 12:00pm
U.S. crude oil exports reached a record high in February 2020 and have since fallen in each month, based on data through June, according to the U.S. Energy Information Administration's (EIA) Petroleum Supply Monthly. However, U.S. crude oil exports in the first half of the year are still higher than they were in the first half of 2019. Monthly crude oil imports declined sharply in April before increasing in May and June, but they were still lower in the first half of 2020 compared with the first half of 2019.
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Industrial sector consumption of natural gas falls amid slowing economy

21 September 2020, 12:00pm
The consumption of natural gas in the U.S. industrial sector declined from 25.4 billion cubic feet per day (Bcf/d) in January 2020 to 20.1 Bcf/d in June 2020, according to the U.S. Energy Information Administration's Natural Gas Monthly. Industrial natural gas consumption in June 2020 was nearly 1.0 Bcf/d lower than its year-ago level. The decline in industrial sector natural gas consumption compared with the previous year began in March 2020, amid responses to the coronavirus disease (COVID-19) that resulted in a global economic slowdown. Consumption by the industrial sector reached its lowest point in May 2020, falling by 8% compared with 2019. May 2020 consumption of natural gas by U.S. industry marked the largest year-over-year decline since July 2009, during the 2007–2009 recession. Before this year, average U.S. industrial natural gas consumption grew 5.4% in 2018 and was relatively flat (growing 0.1%) in 2019.
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U.S. nuclear capacity outages were 35% higher in summer 2020 than 2019

18 September 2020, 12:00pm
U.S. nuclear capacity outages averaged 4.2 gigawatts (GW) during the summer of 2020 (June through August), nearly 35% higher than the 2.7 GW average in summer 2019. Summer nuclear outages were at their lowest level from late June to mid-July, averaging 2.3 GW. Outages significantly increased in the latter half of July, peaking in late July at 6.5 GW and peaking again in August at 6.2 GW.
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