Regional News: Europe & Russia

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Russia's Novatek Expects 50% CAPEX Growth In 2018, 2019
Thursday, July 27, 2017 Novatek expects capital expenditure to rise by around 50% in 2018 and 2019.

Shell Braces For 'Lower Forever' Oil As Profits Soar
Thursday, July 27, 2017 Shell is gearing up for a world of "lower forever" oil prices, its Chief Executive Ben van Beurden says.

Europe's Oil Giants Recover From Three-Year Slump
Thursday, July 27, 2017 Shell, Total and Statoil report sharp increases in cash flow from operations in the second quarter as profits beat analyst expectations.

Statoil Scales Down Exploration Plans For 2017
Thursday, July 27, 2017 Statoil has reduced its exploration ambitions for 2017 and will drill around 30 wells.

Total Beats 2Q Expectations Helped By Strong Cash Flow, Costs Cuts
Thursday, July 27, 2017 Total reported 2Q earnings above expectations lifted by strong cash flow and cost cuts that enabled the company to maintain its targets for 2017.


Shell CEO Van Beurden Says His Next Car Will Be Electric
Thursday, July 27, 2017 When the boss of Europe's biggest listed oil company says his next car will be electric, it says a lot about the future of fossil fuels.

Russia, EU Bristle At Proposed New US Sanctions On Moscow, Warn Of Action
Wednesday, July 26, 2017 Russia warns it was edging closer to retaliation against Washington after the House of Representatives backed new US sanctions on Moscow.

The Market Will Kill Oil Before the Government Does
Wednesday, July 26, 2017 Consumers, automakers, and even some oil companies are already preparing for a battery-powered future.

Seadrill Warns Again Of Chapter 11 As Extends $14B Debt Talks
Wednesday, July 26, 2017 Seadrill again delayed restructuring its $14 billion in debt and liabilities and reiterated that Chapter 11 bankruptcy was likely.

Extended Norway Gas Plant Outage Lifts British Prices
Wednesday, July 26, 2017 The extension of an outage at Norway's Kollsnes gas processing plant lifted British gas prices.

Kemp: Limits Of Analysis On Commitments Of Traders
Wednesday, July 26, 2017 The precise interactions between different types of commodity traders and their impact on price formation remain largely unknown.

UK Joins France, Says Goodbye to Fossil-Fuel Cars by 2040
Wednesday, July 26, 2017 The UK becomes the latest European country to mark the end of the line for diesel and gasoline fueled cars

Saipem Warns On Profits After Falling To 2Q Loss
Tuesday, July 25, 2017 Saipem lowers its annual earnings forecasts citing tough market conditions.

EU Divided On How To Answer New US Sanctions Against Russia
Monday, July 24, 2017 Northern EU states in particular have sought to shield the supplies of Russian gas that they rely on.

Greece Extends Deadline For Expressions Of Interest In Gas Grid
Monday, July 24, 2017 HRADF says it extended the deadline for submission of expressions of interest in natural gas grid operator DESFA.

Kemp: Hedge Funds Close Bearish Positions In Crude And Gasoline
Monday, July 24, 2017 Hedge fund managers have continued to cover short positions in crude oil and gasoline.

What Will Brexit Mean for Downstream IP?
Monday, July 24, 2017 Brexit could affect design and trademark protections, enforcement for downstream patent holders.

Saipem Seen Getting Work In Novatek's Arctic LNG 2 Project
Monday, July 24, 2017 Saipem is likely to get a sub-contractor role in a new project to produce LNG in the Arctic by Russia's Novatek.

OPEC, Russia to Stand Pat on Oil Deal Even as Glut Persists
Friday, July 21, 2017 OPEC and Russia's plan to clear the global oil glut hasn't worked as they hoped, but there's little expectation the world's largest producers will act more aggressively when they meet this weekend.

EU Court Rejects Polish Bid To Halt Opal Pipeline Deal, Verdict In 2019
Friday, July 21, 2017 A European Commission deal giving Gazprom a bigger share of the Opal gas pipeline can go ahead for now until a ruling is issued in 2019.

Greenpeace Activists Protest Near Oil Rig In Norway's Arctic Sea Area
Friday, July 21, 2017 Environmental activists protest near an offshore rig contracted by Statoil in the remote Norwegian Arctic.

Schlumberger Buys Eurasia Drilling Stake In Test Of Russia-US Ties
Friday, July 21, 2017 Schlumberger NV has agreed to buy a 51% stake in Russian peer Eurasia Drilling Co (EDC) in a deal likely to test Russia-US ties.

CEO: France's GTT Sees Opportunities In Increased Gas Production
Thursday, July 20, 2017 GTT can benefit in the coming years from increased LNG supply as it will boost the need for transportation, Chief Executive Philippe Berterottiere says.

Exxon Fined for Russia Sanctions Violations Under Tillerson
Thursday, July 20, 2017 The Treasury Department fined ExxonMobil $2 million for "egregious" violations of sanctions against Russia when now-Secretary of State Rex Tillerson was chief executive.

French Court Repeals Law On Regulated Gas Prices
Wednesday, July 19, 2017 France's highest administrative court repeals a law on regulated gas prices.

Irish Gas Grid Could Receive LNG from South Texas
Wednesday, July 19, 2017 Texas-based NextDecade and Ireland's Port of Cork Co. will hold exclusive talks.

German Diesel Makers Get Reprieve as Home States Reject Bans
Tuesday, July 18, 2017 Germany is wrestling over the future of diesel autos.

Big Oil Sees Salvation in Gas, But What If It's a Wrong Bet?
Tuesday, July 18, 2017 The trends that are undercutting optimism about the global gas outlook are already playing out in Europe.

New UK Listing Rules Set to Attract State Companies Beyond Aramco
Monday, July 17, 2017 Saudi Arabia, Oman and Abu Dhabi have all announced plans in the past year to float some of their oil assets.

US Said to Stymie Japan's Plan to Explore for Russian Oil
Friday, July 14, 2017 A Japanese group's plans to explore for Russian oil with Rosneft PJSC have been stymied by US intervention over sanctions, according to people.

Big Oil Just Woke Up to Threat of Rising Electric Car Demand
Friday, July 14, 2017 The world's biggest oil producers are starting to take electric vehicles seriously as a long-term threat.

Poland Sees North-South Gas Corridor Ready By 2022
Thursday, July 13, 2017 Gaz-System expects the North-South Gas Corridor linking LNG terminals in Poland and Croatia to be ready by 2022.

Britain Seeks Looser IPO Rules To Lure Saudi Aramco, Worries Investors
Thursday, July 13, 2017 Britain wants to loosen rules on listing state companies in a move that could help London win the lucrative IPO of oil giant Saudi Aramco but has raised fears for minority investors.

Oil Bosses See More Pain as Price Recovery Slips to 2020
Thursday, July 13, 2017 Three years into the biggest oil downturn in a generation, industry bosses see the recovery slipping further from view.

Ophir Energy Cuts Cost; Eliminates Staff
Wednesday, July 12, 2017 British oil and gas explorer cuts 15% of its global workforce as it "right sizes" for new FLNG Project.

Shell To Sell Stake In Corrib Gas Field In Ireland For $1.23B
Wednesday, July 12, 2017 Shell to sell its 45% stake in the Corrib gas venture to a unit of Canada Pension Plan Investment Board (CPPIB) for up to $1.23 billion

British Oil Probe Shows Value of Reading the Small Print: Gadfly
Wednesday, July 12, 2017 The risk of a probe has loomed over the transaction, unveiled in March, for months.

Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands
Tuesday, July 11, 2017 Royal Dutch Shell Plc, the oil company that spent more than $50 billion to buy natural-gas producer BG Group Plc, is looking to expand demand for the fuel in transport to ensure its output is consumed.

IEA: Electricity Investment Overtakes Oil, Gas for First Time Ever in 2016
Tuesday, July 11, 2017 Investments in electricity surpassed those in oil and gas for the first time ever in 2016 on a spending splurge on renewable energy and power grids as the fall in crude prices led to deep cuts, the International Energy Agency (IEA) said.

France's Arkema Looks to Specialty Chemicals to Drive Growth
Tuesday, July 11, 2017 Arkema plans to invest around 300 million euros ($341.76 million) to achieve a 50 percent production capacity increase for polyamide 11.

UK SFO Opens Bribery Investigation Into Amec Foster Wheeler
Tuesday, July 11, 2017 UK prosecutors opened an investigation into Amec Foster Wheeler over possible bribery and corruption linked to its use of third parties, though the company reassured shareholders it was "not expected" to affect its $2.2B takeover by Wood Group Plc.

Oil Could Hit $60 Before Year-End
Monday, July 10, 2017 Accelerating world oil demand and reduced supply from the Organization of the Petroleum Exporting Countries (OPEC) could push crude prices up to $60 a barrel before the end of the year.

UK Firm Launches, Aims to Address Skills Needs of Marine Energy Sector
Monday, July 10, 2017 A new UK-based company 'which aims to address the immediate and long-term skills needs of the global marine energy sector', launches July 10.

Gazprom Says Possible U.S. Sanctions May Delay Nord Stream 2, Turkish Strm
Monday, July 10, 2017 Potential new U.S. sanctions against Moscow may delay some of Gazprom's projects.

Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020
Monday, July 10, 2017 Shell plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates.

Repsol, Gazprom Neft in Collaboration Deal
Monday, July 10, 2017 The Chief Executive Officers of Repsol and Gazprom Neft, Josu Jon Imaz and Alexander Dyukov, sign a memorandum of understanding to increase collaboration between both companies in West Siberia.

Urals Differentials Dip, But Still Close To 2-Year Highs
Monday, July 10, 2017 Urals crude differentials in northwest Europe inched lower, but remain close to 2-year highs.

New Wood Group Services Deal to Create Jobs
Monday, July 10, 2017 Wood Group secures a new contract by Maersk to deliver mechanical and management services for the hook-up and commissioning of the Culzean gas condensate field in the UK central North Sea.

Top 10 Highest Paying Oil Jobs for Graduates
Friday, July 07, 2017 Rigzone outlines the top paying oil jobs for grads.

Russia To Keep Cooperating With Others To Harmonize Energy Markets
Friday, July 07, 2017 President Vladimir Putin says that Russia plans to keep cooperating with other countries to harmonize global energy markets and reduce price volatility.

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