People in the News

Rocksource Soars on Arctic Securities Bid

Norwegian brokerage Arctic Securities has been mandated by a financial investor to buy at least 20 percent of oil and gas explorer Rocksource at an 80 percent premium,

India Closer to Selling ONGC Stake

Top Indian official meets bankers to discuss stake sale; India looks to raise $3 bln from sale of 5 pct stake in ONGC. Time right for divestment, says finance ministry official.

Songa Offshore Rig Suffers Engine Failure

Norwegian offshore driller Songa Offshore suffered an engine failures on its Songa Dee rig during a yard stay and the vessel will not leave the yard until Nov. 7,

Genel, Partners Find Oil off Morocco

Genel Energy and two partner firms said on Monday they had discovered oil off Morocco, giving a boost to the region whose oil and gas drilling results have so far been mixed.

Saudi August Oil Exports at 3-Year Low

Crude volumes used by local refineries at record high in August; Saudi crude exports seen around 7 mln bpd until December. Saudi fights for market share, exports to US decline.

Peabody Posts Loss as Coal Falls

Coal miner Peabody Energy Corp reported a quarterly loss, compared with a profit a year earlier, hurt by lower prices. The company's reported net loss from continuing

China Utility Aims to Triple Gas Power 2020

State utility China Huadian Corp wants to nearly triple its gas-fired power capacity by 2020, state-run China Energy News reported on Monday, part of China's campaign

Union workers Strike at Glencore Coal Mine

South Africa's National Union of Mineworkers (NUM) said on Monday its members had downed tools at the Koornfontein coal mine operated by Glencore in a dispute over pay.

Ukraine, Russia Gas Deal in the Works

Russia agrees to supply Ukraine with 5 bcm gas to March 31; winter gas price to be $385 per 1000 cubic meters. Agreement expected to be finalized on Tuesday in

Frontline appoints Macleod as new CEO

Crude oil tanker firm Frontline, part of shipping tycoon John Fredriksen's business empire, appointed Robert Hvide Macleod as chief executive to replace Jens Martin Jensen, the firm said on Monday.

Halliburton Profit Beats Street, N.America Drilling Strong

Halliburton Co, the world's No.2 oilfield services provider, reported a better-than-expected quarterly profit, helped by buoyant shale drilling activity in North America.

Saudi Oil Pipeline Set Alight

  A "limited fire" broke out on a subsidiary oil pipeline in eastern Saudi Arabia on Saturday after assailants fired shots at a security patrol, the state news agency SPA said.

India Frees up Diesel Prices

 India announced on Saturday that it would life controls on diesel pricing with immediate effect, leading to an immediate fall in pump prices of nearly 6 percent

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

   Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Can Oil & Gas Superpower Lead on Climate Change?

  A day before President Barack Obama addressed the United Nations to declare the nation is "stepping up to the plate" to tackle climate change, nearly 400,000

USS Constitution Not to Set Sail Until 2018

  The crew of USS Constitution embarked on their final Boston Harbor underway demonstration aboard Old Ironsides this year, Oct. 17. Constitution set out into

USCG Rescue Two from Their Diabled Sailboats

  The Coast Guard rescued two people Friday after both of their sailboats became disabled approximately five miles west of the Chesapeake Bridge Tunnel near Hampton.

Open Ship a Success

  Amaliekajen was buzzing with life during Culture Night, when the Danish Maritime Authority’s vessel Poul Løwenørn lowered the gangway and invited everyone interested on board.

Putin: Current Oil Price No Tragedy for Russia's Budget

Russian President Vladimir Putin said on Friday that the current low price of oil was not a tragedy for Russia's budget, which is highly dependent on energy revenues,

Obama Appoints Ebola 'Czar'; Texas Health Worker Isolated on Ship

President Barack Obama appointed a former White House adviser as U.S. Ebola "czar" on Friday as the global death toll from the disease that has hit mostly three

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