Industry News

Oil strike in Norway shuts Shell field as escalation looms

A strike curtailed oil production off Norway for the first time in six years as Royal Dutch Shell Plc shut a North Sea field and workers threatened to escalate labor action.

Worthless just two years ago, West Texas sand now brings in billions

Standing high on top of a windswept dune in the West Texas plains, Greg Edwards stares out into a vast ocean of sand. It stretches in every direction, interrupted only by an occasional strip of asphalt or clusters of silos that rise high into the sky.

BP is front-runner to buy BHP's U.S. shale unit

BP Plc has emerged as the front-runner to buy BHP Billiton Ltd.’s onshore oil and gas operations in the U.S., according to a person familiar with the matter.

Eni announces second oil discovery in Egypt's Faghur basin

Eni announces a second light oil discovery on the B1-X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 130 km North of the oasis of Siwa.

Asia's oil refiners rush to deal with U.S.-China trade war, looming Iran sanctions

SINGAPORE (Reuters) - Asian oil refiners are racing to secure crude supplies in anticipation of an escalating trade war between the United States and China, and as Washington plans tough sanctions against Iran aimed at shutting the country out of oil markets.

Nigeria's Dangote expects new oil refinery to account for half of group assets

LAGOS, (Reuters) - An oil refinery being built by Aliko Dangote will account for half of his conglomerate's assets when it is finished next year, a senior executive told Reuters, underscoring the scale of the bet being made by Africa's richest man on Nigerian oil and gas.

Taiwan agrees preliminary LNG purchase deal with U.S. producer

LONDON (Reuters) - Taiwan’s CPC Corp announced a preliminary deal to buy liquefied natural gas (LNG) from U.S. producer Cheniere Energy for 25-years, according to a statement.

Japan's Inpex delays production from giant Australia gas project

TOKYO (Reuters) - Japan’s Inpex Corp has delayed gas production from its giant Ichthys field off the coast of Australia just weeks after giving assurances that output would start imminently.

AkzoNobel Specialty Chemicals to upgrade Rotterdam chlor-alkali plant

AkzoNobel Specialty Chemicals will upgrade its Rotterdam chlor-alkali plant to strengthen development of the local industrial cluster.

Enbridge to sell its Canadian natural gas gathering & processing businesses for $4.31B

CALGARY, /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) announced that it has entered into definitive agreements to sell its Canadian natural gas gathering and processing business

Iran threatens to stop exports from the Strait of Hormuz

Iran will stop oil exports from the Strait of Hormuz, the world’s most important oil chokepoint, if the U.S. succeeds in halting crude sales from the Persian Gulf nation, a Revolutionary Guards official said.

Lundin identifies additional resource potential at Edvard Grieg field

Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has successfully completed the PDO development drilling program at its operated Edvard Grieg field on the Utsira High, in the Norwegian North Sea.

Eni hopes for second Egypt gas bonanza

With production from the vast Zohr offshore gasfield rising fast, Eni is to start exploring another potential play

Oil falls from three-year high as Trump pushes Saudis to pump more

Oil fell from the highest level in more than three years after U.S. President Donald Trump piled pressure on Saudi Arabia to increase output and tame prices.

Hess Corp. announces $400-million sale of Utica shale acreage

Hess Corporation announced that it has entered into an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources.

Alaska LNG preparing equity offering, open to joint ventures

Alaska Gasline Development Corp (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of its $43 billion Alaska LNG export terminal and pipeline project.