Industry News

Aker Solutions wins FEED contract for subsea compression system

Aker Solutions has been awarded a master contract to support the delivery of a subsea compression system for the Chevron Australia-operated Jansz-Io field, offshore Australia.

CERAWeek 2019 seeks to unravel the "new world of rivalries"

CERAWeek by IHS Markit kicked-off in downtown Houston, on Monday, March 11. The week-long event focuses on providing meaningful dialogue, aimed at solving the various challenges facing the energy industry―from geopolitics and trade to costs, price volatility, environmental policy, disruptive technologies, inter-fuel competition, and the battle to attract younger workers before they commit to other industries.

Conrad Petroleum gets approval for Mako development plan, offshore Indonesia

Conrad Petroleum Limited (Conrad or the Company), the operator of Duyung PSC, announced that its development plan for the Mako gas field (the POD), originally submitted in August 2018 and re-submitted under the gross split regime in January 2019, has been approved by Indonesia’s Ministry of Energy and Mineral Resources (MEMR).

LNG Canada CEO sees no scenario that would stop its project

The head of LNG Canada said he does “not see a single scenario” that would stop the nation’s largest infrastructure project from getting built, dispelling concerns that the $30 billion gas export facility is at risk of mounting opposition from pipeline foes.

BP, Exxon to help advance Alaska LNG export project

Alaska Gasline Development Corp (AGDC) said it signed an agreement with BP PLC and Exxon Mobil Corp to help advance the state-owned company's proposed $43.4 billion Alaska liquefied natural gas (LNG) project.

Poland's PGNiG speeds pace of LNG purchases as it diversifies imports

Poland's dominant gas company PGNiG has stepped up the pace of its spot purchase of liquefied natural gas (LNG) as it works to diversify its gas imports, a senior company official said.

Energy group launches new climate compliant marine fuel for shipping

BP Marine has announced that it will begin to retail low sulfur fuel that meets new MARPOL regulations limiting the sulfur content of marine fuels.

Major Governance Issue: Concerns over Saudi control of Aramco

Mark Mobius has "governance" concerns over investing in shares or bonds that could be issued by Saudi Aramco in the future because of Riyadh's control over the oil giant, the emerging markets investor said.

China's CNOOC explores opening up LNG terminals under reform pressure

CNOOC, China's biggest operator of liquefied natural gas (LNG) import terminals, is talking to independent companies about access to its facilities after short trial leases last year, three sources said.

High-sulfur fuel oil demand to decline on IMO rules

High-sulfur fuel oil demand will fall 60 percent next year while marine gasoil demand will more than double due to new international regulations on shipping fuel, the International Energy Agency said.

Oil's big reset: Energy majors learn to thrive after price crash

When OPEC started an oil-price war in late 2014, most people believed U.S. shale was doomed. In reality, the giant oil majors suffered most -- burdened by expensive mega-projects, Chevron Corp., BP Plc and the rest struggled to adapt to the fall in energy prices.

Petrobras seeks to trim budget by cutting jobs, marketing

Petroleo Brasileiro SA plans to implement a voluntary redundancy program and cost-cutting measures aimed at shaving $8.1 billion off its budget for the next five years.

Maryland Stormwater Partnership Ahead of Schedule, Under Budget

The Clean Water Partnership (CWP), a 30-year community-based public-private partnership between Prince George’s County, Maryland and Corvias, said it has completed its initial pilot phase.

Russia May Ship Gas via Ukraine After 2019: Report

Russian Prime Minister Dmitry Medvedev said that Moscow was ready to keep gas transit through Ukraine after 2019, despite the construction of Nord Stream 2 pipeline.

Feds Fund Houston-Area Stormwater Tunnel Feasibility Study

The Harris County Flood Control District, whose systems were overwhelmed by Hurricane Harvey in 2017, is set to begin a $400,000 study into the feasibility of constructing large-diameter, deep underground stormwater conveyance tunnels.

China Plans State Pipeline Company in Massive Energy Reshuffle

China will announce a plan this year to form a national oil and gas pipeline group combining the long-distance pipeline assets of the country’s state-owned energy companies, in the sector’s largest reshuffle in two decades, said three persons with knowledge of the plan.