Europe & Russia News


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Arctic Oil Promise Keeps Norway's Disappointed Wildcatters Going
Monday, October 16, 2017 It's been a bad year for oil explorers in Norway's Arctic, but companies aren't about to give up.

Ineos Appoints New Shale Boss to Build a UK Natural Gas Boom
Monday, October 16, 2017 Ineos AG has taken another step toward creating a shale boom on its side of the Atlantic.

Slowing Demand Growth to Push Big Oil From Cars to Chemicals
Monday, October 16, 2017 Global oil demand growth will slow to a crawl and gasoline use will peak within the next decade, prompting companies to accelerate the shift to natural gas and chemicals, according to WoodMac.

Kemp: Investors Hit Peak Bullishness On Oil
Monday, October 16, 2017 The wave of investor bullishness towards oil that started back in July and August may have peaked at the end of September.

BP Midstream Partners Seeks To Raise Up To $893MM In IPO
Monday, October 16, 2017 BP Midstream Partners says it expects to raise up to $893 million from its initial public offering.

OMV Flags Higher 3Q Margins, Kurdistan Windfall
Friday, October 13, 2017 OMV says its refining margin rose to $7.04 per barrel in the third quarter.

Court Rejects PGniG's Attempt To Limit Gazprom's Use Of Opal Pipeline
Friday, October 13, 2017 A German court confirmed it had rejected a request by Polish energy company PGniG and its German subsidiary.

Norway Puts on the Brakes But Oil-Cash Splurge Is Hard to Kick
Thursday, October 12, 2017 The Norwegian government proposed spending $29B of its oil income and wealth to plug a deficit equal to 7.7% of gross domestic product, roughly unchanged from this year.

Greek Firm Gastrade Signs LNG Deal With State-Owned DEPA
Thursday, October 12, 2017 DEPA signs a cooperation agreement with natural gas company Gastrade to participate in the development of a liquified natural gas terminal.

WoodMackenzie: Norway Remains Among World's Top 10 Places To Discover Oil
Thursday, October 12, 2017 Norway remains among the top 10 places to find oil worldwide, consultancy firm Wood Mackenzie says.

BNP to Halt Shale Oil Financing, Expand Funds for Renewables
Wednesday, October 11, 2017 BNP Paribas pledges to stop financing shale and oil sands projects, expanding earlier commitments in support of global efforts to tackle climate change.

Shrinking Europe Oil Glut Gets Even Smaller After US Hurricane
Wednesday, October 11, 2017 If you want to see how the oil market's re-balancing, just take a look at Europe's storage tanks.

Europe's Natural Gas Traders Have a Bone to Pick With Italy
Wednesday, October 11, 2017 Italy is looking to shed its status as one of Europe's most expensive gas markets, but the way it plans to do so has riled traders.

UK's Shale Gas Sector Insiders Refute University Study
Wednesday, October 11, 2017 Industry insiders claim that the fledgling industry will evolve successfully despite hurdles.

Jacobs Signs Sulfur Recovery Tech Deal with Shell-Pique's JV
Wednesday, October 11, 2017 Paquell gains access to biological process that converts mercaptans, H2S into sulfur, says Jacobs.

Wood Group Wins Total Refinery Maintenance Contract
Wednesday, October 11, 2017 John Wood Group says it won a multi-million dollar contract from Total.

Kemp: Feast Or Famine? Oil Market In 2018
Tuesday, October 10, 2017 The oil market is rarely balanced, and never for very long.

Customs: Russia's Yamal LNG To Ship First Two LNG Cargoes In November
Tuesday, October 10, 2017 The Russian Yamal LNG project will ship the first two cargoes of liquefied natural gas in November.

Total, Eni, Statoil Seek Buyers for N. Sea Teesside Terminal -Sources
Monday, October 09, 2017 The sale is run jointly by investment bank Rothschild and may fetch as much as $400 million, according to the sources.

Shell, Varo End Talks on Germany Refinery Stake Sale
Friday, October 06, 2017 The two companies said last December that they had entered advanced talks on the stake sale, but the negotiations have been "discontinued", a spokeswoman for Varo told Reuters.

Russia Plays Down US Sanctions Impact on Nord Stream-2 Gas Pipeline
Friday, October 06, 2017 A project official also said that Russia has an alternative route for the pipeline under the Baltic Sea bed if Denmark blocks the construction in its territorial waters.

Saudis Say Cooperation With Russia Breathed Life Back Into OPEC
Thursday, October 05, 2017 Cooperation between Saudi Arabia and Russia has "breathed life back into OPEC" and made the country more optimistic about the outlook for oil than it has been for several years, said the kingdom's energy minister.

Transneft: Oil Supplies to Lukoil's Norsi Refinery Suspended Due to Fire
Thursday, October 05, 2017 Crude oil deliveries to Lukoil's Norsi refinery in the Nizhny Novgorod region have been resumed after a fire at the facility, Russian pipeline monopoly Transneft.

Refinery Blazes to Dent Shell 3Q Earnings
Thursday, October 05, 2017 A recent string of fires at Royal Dutch Shell's refineries, including at Europe's largest, is expected to hit the oil and gas company's third-quarter profit and deal a setback to its efforts to improve the segment's performance.

Putin Says Oil Pact With OPEC May Be Extended to End of 2018
Wednesday, October 04, 2017 President Vladimir Putin said Russia is open to extending a deal with OPEC to curb oil supplies to the end of 2018.

IEA Lifts Five-Year Renewables Forecast After Record 2016
Wednesday, October 04, 2017 The IEA raises its forecasts for renewable energy over the next five years.

Statoil Takes First Bite Of Solar Market With Brazilian Joint Venture
Wednesday, October 04, 2017 Statoil is taking its first step into the solar sector, partnering up with Oslo-listed renewable energy firm Scatec Solar.

Offshore Rig Firms See End To Worst Downturn In History
Wednesday, October 04, 2017 Demand for offshore rig rental globally is starting to recover from its worst ever downturn.

Scotland Rejects Fracking, Citing Overwhelming Public Opposition
Tuesday, October 03, 2017 Scotland will block fracking indefinitely after a public consultation found overwhelming opposition to the practice, the British region's energy minister says.

Shell Said to Seek Sale of Stake in $1.4 Billion Wind Farm
Tuesday, October 03, 2017 Shell and its partners Eneco Holdings NV and Mitsubishi are seeking to sell a stake in two Dutch offshore wind-farm projects.

Kemp: Hedge Funds Amass Record Bullish Position In Distillates
Tuesday, October 03, 2017 Hedge funds have accumulated a record bullish position in middle distillates such as diesel, heating oil and gasoil, anticipating stocks will be relatively tight this winter.

Kemp: Oil Drillers, Not Forecasters, Are Responsible For WTI Weakness
Monday, October 02, 2017 Is Hamm right to blame EIA for the decline in WTI prices and the big discount to Brent which emerged in the third quarter of 2017?

Novak: Saudi Arabia, Russia To Set Up $1B Energy Fund
Monday, October 02, 2017 Saudi Arabia and Russia plan to set up a $1 billion fund to invest in energy projects, Russian Energy Minister Alexander Novak said.

Seadrill's Debt Overhaul Faces Creditor Scrutiny
Monday, October 02, 2017 Seadrill's $12.7 billion debt restructuring faces a critical phase as hold-out creditors prepare to challenge the plan put forward by John Fredriksen.

Russia's Rosneft Elects German Ex-chancellor Schroeder as Chairman
Friday, September 29, 2017 Schroeder calls Russian President Vladimir Putin his friend and has criticized moves to impose sanctions on Russia.

European Sales of Gasoline-powered Cars Overtake Diesel - ACEA
Friday, September 29, 2017 The shift saw gasoline car sales rise by nearly 10 percent from the first half of 2016.

Shell Explores Electric Vehicle Charging, Energy Management Businesses
Thursday, September 28, 2017 Shell intends to invest up to $1 billion a year through its New Energies division by the end of the decade.

Gas Pipeline Through Central Europe to Go Ahead As Planned -Romania
Thursday, September 28, 2017 The pipeline, BRUA, will ultimately be able to carry 4.4 billion cubic meters of gas from Bulgaria and Romania to Austria by 2022.

Large Dutch Gas Find Could Be Even Bigger After Positive Drilling Results
Wednesday, September 27, 2017 A large gas discovery in the Dutch North Sea could be even bigger after an exploration drill beat expectations.

Kemp: Global Trade Upturn Aids Oil Market Rebalancing
Wednesday, September 27, 2017 Global trade is growing at the fastest rate for six years - which is both a symptom and a cause of the recovery in commodity markets.

Maersk Oil CEO To Step Down After Total Takeover
Wednesday, September 27, 2017 The chief executive of Maersk Oil will leave the company when Total's acquisition of the company has been completed.

Statoil And Partners Plan Output Capacity Expansion At Troll Gas Field
Tuesday, September 26, 2017 Statoil and partners are working to increase the output capacity of Troll, the country's largest gas field.

How Refiners See the 0.5 Percent Sulphur Fuel Production World
Monday, September 25, 2017 Many refiners are not properly equipped for the low-sulphur transition and will need to revisit their business models.

Top BP Executive Warns OPEC Needs to Prolong Oil Output Curbs
Monday, September 25, 2017 OPEC and its allies need to extend their crude production cuts beyond March 2018 to rebalance the global oil market, a top executive at BP's trading arm said.

Total Extends 5% Annual Oil Output Growth Target
Monday, September 25, 2017 Total extended its 5% annual average oil production growth target until 2022.

OPEC Says Winning Battle To Curb Oil Glut
Friday, September 22, 2017 Output cuts by OPEC and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a Friday meeting.

Europe Diesel Exports Hit Record as Harvey Redraws Trade
Friday, September 22, 2017 Traders expect the European exports to continue for several more weeks.

Kemp: Mission Accomplished? OPEC Banishes Contango
Thursday, September 21, 2017 The shift away from contango to backwardation has accelerated notably since July.

Drilling and Completion Tick Up in the UK
Thursday, September 21, 2017 A handful of wells mark the return of upstream development in the UK.

Russia Set To Pipe More Oil To China, Stepping Up Race With Saudis
Thursday, September 21, 2017 Chinese oil refineries are gearing up to receive more Russian oil transported through an expanded Siberian pipeline network from January.

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