Danish oil company Maersk Oil has reached an agreement with the Government of Denmark which it says will facilitate future oil and gas investments in the Danish North Sea and protect industry jobs in Denmark. To encourage investment in oil extraction in the North Sea the Government has lowered taxes
UK’s Oil and Gas Authority (OGA) has offered for award 25 licences for 111 blocks or part blocks to 17 companies in the 29th Offshore Licensing Award to enable further exploration and production across frontier areas of the UK Continental Shelf (UKCS). The 29th Licensing Round, launched on July 27,
Italian oil company Eni has obtained majority stakes in two new exploration blocks off the shore of the Ivory Coast. The two blocks are located approximately 50 km from the country’s coastline, the company said in a statement on Wednesday. The two deep offshore blocks, denominated CI-101 and CI-205,
Norway’s safety watchdog, the Petroleum Safety Authority (PSA), has found two improvement points during an audit of load-bearing structures and maritime systems on Statoil’s Åsgard B platform. The Statoil-operated Åsgard oil and gas field in the Norwegian Sea is located around 200 kilometers from th
BigRoll Shipping, a heavy marine transportation provider, has taken delivery of its fourth and final MC Class vessel, the BigRoll Beaufort. The newbuild vessel was handed over to BigRoll by Cosco Dalian Shipyard in Leiden, the Netherlands, the owner of the vessel said in a statement on Monday. The v
Italy’s Eni grabbed the majority stakes in two new exploration block approximately 50 kilometers off the shore of the Ivory Coast.
Industry Technology Facilitator (ITF), an oil industry trade organization, and the Oil & Gas Innovation Centre (OGIC) have teamed up to fund and support the development of innovations in the industry. Namely, OGIC has made £1 million ($1.25 million) available to support companies with projects that
Oil and gas production company RockRose Energy has made progress with its plan to buy a pair of North Sea assets from Maersk Oil. In addition, the oil company is buying two Southern North Sea gas fields. The companny announced on December 22, 2016, that it had signed sale and purchase agreements wit
The Australian Government is proposing a reform of the country’s coastal shipping sector stating as its aim the reduction of regulatory burden imposed on the sector. The proposals were released in a discussion paper titled Coastal Shipping Reforms Discussion Paper and the government is seeking comme
Intercontinental Exchange (ICE) will begin trading a first-ever U.S. LNG futures contract in a response to the growing U.S. LNG export volumes.
North America could take a larger share of the global bunker market in the future due to its capabilities to supply ultra low sulfur fuel oil (ULSFO) components and gas oil, according to Wood Mackenzie. The global total demand for fuel oil and gas oil bunkers has changed little since 2010. However,
Shipowners’ interest is being diverted away from the recycling market with secondhand vessel values rising, according to Clarksons. This causes new tonnage in the market to generate firm competition between cash buyers. The number of Capesize bulk carriers sold for demolition in the year to date is
Poland could limit the volumes of liquefied natural gas (LNG) imports from a single supplier to 70 percent of the total import volumes into the country.
By Guillermo Parra-Bernal and Marta Nogueira SAO PAULO/RIO DE JANEIRO (Reuters) – Petróleo Brasileiro SA cut debt by 20 percent and had positive free cash flow for the seventh straight quarter during the fourth quarter, in a further sign of recovery at Brazil’s state-controlled oil company in spite
