Euro Oil Giants Rethink Renewable Balance
Almost five years ago, BP embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals…
Clash of the Russian Energy Titans
Russian energy major Rosneft is increasingly challenging domestic rival Gazprom in international gas markets, from West Africa to Turkey and even Europe, according to five industry sources with knowledge of the matter.Last week, Rosneft…
Europe to be Natural Gas Kingmaker
It's probably not quite here yet, but the trend is unmistakeable; the world is moving to a globally-linked natural gas market and the rise of liquefied natural gas (LNG) is the key driver. Much of the increase in LNG capacity is because…
Coal Exporters Watch as China, India Mull Policy Change
Coal exporters may be feeling more comfortable about their future as they see both reasonable demand from Asia's top importers and prices which appear to be stabilising at levels that allow for decent profits. This renewed optimism was…
Statoil Profit Jumps on International Ops Growth
First-quarter operating profit $3.3 bln is firm's first international profit since third-quarter of 2014. Statoil reported a far bigger jump in first-quarter operating profit than expected on Thursday, helped by the first profit from…
New EU Rules Aim to Make Power Cheaper
Utilities in the European Union may have to offer more flexible prices from 2020 to encourage consumers to use more electricity when supplies are abundant and cheap, according to proposed new rules, a top EU official said. Most European utilities sell at fixed prices…
Statoil’s 50 years to be Recorded
Statoil has decided to launch a large project to write the story about the company for its 50th anniversary in 2022. The University of Oslo has been chosen the main supplier in a project that will also involve other Norwegian research institutions.
Poland's PGNiG in Legal Battle Against Gazprom
Poland's largest gas distributor PGNiG has filed a claim against Russia's Gazprom as part of an arbitration process in which PGNiG is seeking a cut in the price of gas from its main supplier. Polskie Gornictwo Naftowe i Gazownictwo (PGNiG)…
Aker Solutions Awarded Two MMO Contracts
Aker Solutions' maintenance, modifications and operations (MMO) business in Norway secured two contracts for work at North Sea fields operated by ConocoPhillips. The company received a framework agreement for a fixed period of five years…
Aker Solutions Sees Less in Revenues Next Year
Oil services firm Aker Solutions expects up to 600 million crowns ($69.36 million) less in revenues next year as it failed to win a renewed key contract with Statoil, the firm said on Tuesday, sending its shares sharply lower. Aker Solutions…
Georgia, Russia in Talks on Additional Gas Supplies
Georgia has held talks with Gazprom on receiving additional natural gas from Russia, Georgia's energy ministry said on Tuesday, a move that has been criticised for potentially making the country more dependent on its former Soviet master.
EU Lacks Clear Gas Strategy, Says Supplier Norway
Norway, the European Union's second largest gas supplier after Russia, has told the bloc it lacked a clear strategy on gas and was therefore cooling willingness to invest in new fields and pipelines, documents published on Tuesday showed.
Mammoet Bags LNG Project in Louisiana
Mammoet announces it has been awarded the heavy lift and heavy haul contract for the Cameron LNG project in Hackberry, Louisiana. The multi-billion dollar project will be comprised of three natural gas liquefaction trains with approved…
Poland Raises German Gas Link Capacity
Poland has more than doubled the capacity of a link able to carry gas from the West in its drive to diversify supplies and reduce dependence on its main supplier Russia, Polish gas operator Gaz-System said on Wednesday. Eastern Europe's…
Norway's Statoil sells gas to Ukraine's Naftogaz
Norwegian energy firm Statoil has signed a deal to sell gas to Ukraine state gas firm Naftogaz, the Nordic firm said on Friday, providing another source of gas for Ukraine after Russia cut off supplies. On Thursday a source in the Ukrainian…
Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG
Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material.
EU Freezes Assets of Two Firms Accused of Supplying Oil to Syria
The European Union on Wednesday froze the assets of two oil- trading firms accused of organizing covert shipments of oil to Syria. They were among nine organizations and three people added to the EU's Syria sanctions list, published in the bloc's Official Journal.
Ukraine parliament strikes down PM's energy proposals
Ukraine's parliament struck down plans by Prime Minister Arseny Yatseniuk on Thursday to guarantee the government tighter control over the energy sector in the face of dwindling natural gas supplies after Russia cut off exports last month.
Ukraine May Seek State of Emergency on Energy Market
The Ukrainian government will seek parliamentary approval on Thursday for a possible state of emergency in the energy sector which would empower it to dictate to gas companies, including private ones, to whom they should supply gas and for how much.
Statoil: Troll Under Pressure
On June 4, two new compressors were lifted aboard the Troll A platform in the North Sea, Statoil reported. Once the compressors are up and running next year, they will boost recovery from Troll by more than 83 billion standard cubic meters of gas.
