"Deep Sea No.1" energy station settles in South China Sea

 

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 A 100,000-metric-tonne deep-water semi-submersible oil production and storage facility has been settled in the South China Sea

Israel's EAPC pipeline company says it will bring UAE oil to Europe in new deal | Al Arabiya

Israeli pipeline company EAPC said on Tuesday it signed a preliminary deal to help transport oil from the United Arab Emirates to Europe via a pipeline that connects the Red Sea city of Eilat and the Mediterranean port of Ashkelon.

New discovery highlights Egypt's potential as emerging oil producer

A new oil discovery in the Western Desert of Egypt could unlock a new area for production gains in the country, Italian energy company Eni said Monday.

OPEC approves output rise of about 1 Mn barrels

OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil minister of the cartel's kingpin Saudi Arabia said Friday.

Oil prices spike sharply after OPEC fails to deliver

Crude oil prices were soaring in early Friday trading after OPEC apparently disappointed with the terms of a consensus agreement on production.

New Shipping Regulations to Push Oil Prices to $90 by 2020 : Morgan Stanley

International efforts to reduce air pollution has lifted the hopes of oil traders, as new shipping regulations are expected to boost demand for lower sulfur fuels, raising demand for crude, as the bank’s analysts report. The current growth in oil prices already exceeds earlier predictions amid OPEC supply cuts and US sanctions against Iran.

Russia's Rosneft reaps rewards from higher oil prices

Russian oil company Rosneft said Monday its revenue increased more than 20 percent from last year, even as its production levels declined.

Indonésie: au moins 10 morts dans l'incendie d'un puits de pétrole illégal

Au moins dix personnes ont péri et des dizaines ont été blessées dans l'incendie mercredi d'un puits de pétrole illégal dans l'ouest de l'Indonésie, ont indiqué les autorités de ce pays d'Asie du Sud-Est.

Oil Prices Rise Amid Lower US Stockpiles, Rising Global Tensions

International oil prices are posting steady increases due to higher energy consumption in the US, Saudi Arabia's continued commitment to production cuts and rising global political uncertainty.

Europe Buyer of 40% of Iran’s Oil Exports in February

About 40 percent of Iranian oil exports in February was sold to European companies, including the global oil giant Royal Dutch Shell and Italy’s Eni.

Norway to review oil and gas pension investments

Following advice from its central bank, the Norwegian Ministry of Finance said it would consider whether oil and gas stocks should be in a pension fund.

Oil tanker with 22 Indian sailors goes missing off West African coast

An oil tanker with 22 Indian crew members on board went missing off the coast of Benin in West Africa, according to a statement issued by India's Ministry of External Affairs.

Oil from Sunken Iranian Tanker May Have Reached Japan Shore: Coast Guard

Clumps of oil have washed up on the shores of southern Japan and there are fears they may be leaking from an Iranian crude tanker that sank in the world's worst such disaster in decades, the Japanese Coast Guard said Friday.

EU sees Cuba as 'strategic ally' in combating climate change: commissioner

The European Union (EU) views Cuba as a "strategic ally" in fighting climate change and a key partner in the Caribbean, an EU commissioner said here Wednesday.

Total, Chevron declare major oil find in the Gulf of Mexico

French energy company Total said Wednesday it made what it considers the largest discovery it's ever made in the U.S. waters of the Gulf of Mexico.

No efforts spared in rescue for tanker Sanchi: China

China has set up an efficient interministry coordination team to handle the aftermath of the sunken oil tanker Sanchi, which includes monitoring and cleaning up the marine oil slick that was left and conducting regular search and recovery operations, senior officials said on Friday.

Worse than Exxon Valdez? Fears rise ‘all fuel escaped’ from ill-fated Iranian oil tanker

Chinese authorities are struggling to contain what may be the worst oil tanker spill and environmental disaster of its kind in history, after the stricken Iranian ship. The Sanchi, finally sank over the weekend.

Keystone XL may be headed for another hurdle

Claims by Nebraska landowners for compensation from pipeline company TransCanada on Keystone XL-related costs rests with the state's highest court, advocates say.

Libya out at least 70,000 barrels of oil per day

A Libyan company said it expects to be out at least 70,000 barrels of oil per day because of an explosion at a pipeline feeding the nation's largest oil depot.

Eni says Kazakh agreement moves it closer to exploration

Italian energy company Eni said Friday it grabbed a stronger hold over a reservoir in Kazakhstan it said has a "significant" potential for oil resources.