Energy

Seadrill Says to Resume Dividend When Rig Market Turns Around

Offshore oil driller Seadrill plans to resume dividend payments when the market begins to improve, Chief Financial Officer Rune Magnus Lundetrae said.   Known

Chile Mining Sector to Double Energy Demand by 2025

Chile's sprawling mining industry, responsible for around a third of global copper output, is set to nearly double its electricity use by 2025 as multibillion-dollar investments come to fruition,

OPEC's Other Problem: Weak Demand

By now, everyone is aware of the serious threat rising shale output from the United States poses to OPEC. But sluggish demand growth in response to the quadrupling

Russia, Turkey Discuss Price for Raising Gas Supplies

Russia has yet to agree a price with Turkey over its planned increase in gas supplies to the country, officials said on Wednesday, as Moscow tries to diversify

U.S. Crude Inventories Rise More Than Expected

U.S. crude stocks rose more than expected last week, while gasoline stocks increased and distillate inventories fell, data from the Energy Information Administration showed on Wednesday.

Lukoil to Raise 3 yr Loan From Sberbank

Lukoil, Russia's second largest oil producer, said on Wednesday it had signed an agreement with Sberbank to raise a loan worth 63 billion roubles ($1.34 billion).

Cold Weather Boosts Spot, Near Curve Prices

Colder weather in the region pushed central European day ahead prices higher on Wednesday, offsetting a rise in renewables, traders said. Czech electricity for

Fourth Rig Delivered to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Coatzacoalcos, to Mexico’s Central Panuco S.

Massive LNG Absorber Shipped to Malaysia

Successful transport of 1,480t absorber for biggest LNG plant worldwide in Malaysia.   1,480 tons and a high center of gravity made the transport of an absorber

Crude Futures Plunge after OPEC Stakeholders Meet

U.S. and Brent crude futures declined sharply after Iranian Oil Minister Bijan Zangeneh said on Wednesday he had an "excellent" meeting with Saudi Oil Minister

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Hoegh Sees Tough Market until 2016-2017

Oslo-listed liquefied natural gas (LNG) shipper Hoegh LNG reported third-quarter earnings below expectations on Wednesday and said its market could remain challenging

China Ups Crude Purchases, Bolstering Reserves

Strategic reserves seen at 30 days, double official plan; China secretive on reserves, but target may be 90 days. China is estimated to be holding double the

Seadrill Shares Dive After Dividend Suspended

No longer world's biggest by market cap. Stock loses premium to peers. Seadrill suspended dividend payments on Wednesday to help it weather a slump in offshore drilling rig market rates,

Oil Dips Below $79 as Market Doubts OPEC

Oil market "will stabilize itself" - Saudi oil minister. Brent crude oil steadied below $79 a barrel on Wednesday after Saudi Arabia signalled it was unlikely

EPA Pressured to Tighten Ozone Standards

The U.S. Environmental Protection Agency is proposing more stringent air quality standards for ground-level ozone, the main culprit in smog, the agency's chief said on Wednesday.

Woodside to Pick up Moroccan Acreage

  Woodside advises that it has entered into a contract for an exclusive Reconnaissance Licence (RL) with the Office National des Hydrocarbures et des Mines, the

Gazprom & Eni Close Rank

  Sochi hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Claudio Descalzi, Chief Operating Officer of Eni.

PGS Moves Asia Pacific HQ to Malaysia

  Petroleum Geo-Services ASA : Kuala Lumpur Becomes the New Asia Pacific Regional Headquarters As a part of the plan to restructure PGS business activities

Zargon Oil & Gas Sells Hamilton Lake Assets

  Zargon Oil & Gas Ltd. announces that it has entered into a definitive purchase and sale agreement to sell its Hamilton Lake property for $25 million. Property

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