Europe & Russia News

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BP Expects to Take $1.7B Deepwater Horizon Charge
Tuesday, January 16, 2018 BP expects to take a post-tax non-operating charge of around $1.7 billion in its fourth quarter 2017 results.

NPD Grants Spirit Energy Drilling Permit for Well Offshore Norway
Tuesday, January 16, 2018 The Norwegian Petroleum Directorate grants Spirit Energy Norge AS a drilling permit for well 6506/9-4 S.

Statoil May Build Onshore Terminal for Castberg Oil -Minister
Tuesday, January 16, 2018 A report on the proposal is expected in 2019, Minister of Petroleum and Energy Terje Soeviknes told Reuters on the sidelines of a conference.

Norway's Aker BP Raises 2018 Dividend Forecast, More To Come
Monday, January 15, 2018 Aker BP will pay out $450 million in dividends for 2018, $100 million more than previously indicated.

EIC Takes On New Chairman
Monday, January 15, 2018 The Energy Industries Council (EIC) announces the appointment of Hugh Saville as the new chairman of its board of directors.

Noble Group Nets Less Than Expected From Oil Unit Sale To Vitol
Monday, January 15, 2018 Noble Group completes the sale of its U.S.-focused oil business to the world's largest oil trader Vitol.

Russia's Gazprom Plans To Invest 182.4B Roubles In Turkstream In 2018
Monday, January 15, 2018 Gazprom plans to invest $3.2 billion this year in the TurkStream pipeline project.

Oil, Gas Majors to Boost Renewable Spend
Friday, January 12, 2018 Oil and gas majors will continue to strengthen investment into renewable energy and low carbon technology through 2018.

Aker Completes Senior Unsecured Bond Issue
Friday, January 12, 2018 Oil and gas services company Aker Solutions successfully completes a $188 million (NOK 1.5 billion) senior unsecured bond issue.

Russia's Transneft Says Dispute With Sberbank Resolved
Friday, January 12, 2018 Russian oil pipeline monopoly Transneft resolves its dispute over financial derivatives with the country's largest lender, Sberbank.

Hope Wanes for 'Elephant' Oil Discoveries in Norway's Arctic
Friday, January 12, 2018 After a disappointing year for drillers, Norwegian authorities are reviewing their hopes.

Shell Braces for Change by Expanding Its Foothold in Electricity
Friday, January 12, 2018 Shell is taking small steps toward a future dominated by electric cars, renewable energy and carbon constraints.

NPD: Norwegian Production to Increase to 2023
Thursday, January 11, 2018 Norwegian production will continue to increase to 2023, according to the Norwegian Petroleum Directorate (NPD).

Poland's Pgnig Plans To Spend Half Of 2017 Profit On Dividend-CEO
Thursday, January 11, 2018 Poland's dominant gas firm PGNiG plans to spend half of 2017 profit on dividend, CEO Piotr Wozniak told Reuters on Thursday.

Groningen Gas Output Cut To Be Examined-Dutch Regulator
Thursday, January 11, 2018 The Dutch gas regulator will respond on Thursday to proposals to reduce output from the Groningen gas field following a tremor there this week.

Shell to Build Solar Power Plant at Moerdijk
Thursday, January 11, 2018 Shell's chemical plant in Moerdijk, the Netherlands.

Baltic Exchange To Develop LNG Freight Index With Ship Brokers
Thursday, January 11, 2018 The Baltic Exchange is looking into launching a freight index for LNG.

Oil Crosses $70 Threshold in London as Worldwide Glut Dwindles
Thursday, January 11, 2018 Oil briefly topped $70 a barrel in London for the first time in three years.

Troubled Noble Group Says Goodbye To Global Oil Trading
Wednesday, January 10, 2018 Noble Group is closing down its London oil desk and winding down its Asia oil operations, sources familiar with the matter say.

Ineos Shale Challenges Scottish Fracking Ban
Wednesday, January 10, 2018 Ineos Shale, along with its co-venture partner Reach, is challenging the Scottish government's effective ban on onshore unconventional oil and gas development.

Aberdeen to Lose 5,500 More Energy Jobs, Council Document Highlights
Wednesday, January 10, 2018 An Aberdeen City Council document highlights that 5,500 further jobs are expected to be lost in the city's energy sector by 2027.

KCA Deutag Appoints New Senior Vice President of RDS
Wednesday, January 10, 2018 KCA Deutag appoints Albert Allan as the new senior vice president of RDS, the company's rig design and engineering subsidiary.

Med Crude-Urals Diffs Remain High Despite Weak Refinery Margins
Wednesday, January 10, 2018 Urals crude differentials remained high despite weak refinery margins, while Azeri BTC was offered lower, trade sources say.

NPD Confirms Successful Acquisition of New Seismic Data
Tuesday, January 09, 2018 The Norwegian Petroleum Directorate confirms the successful acquisition of around 4,500 kilometres of new 2D seismic data offshore Norway.

IOS Proceeding with Expansion Following Contract Wins
Tuesday, January 09, 2018 Independent Oilfield Services is proceeding with a $4 million expansion after securing 2 new contracts worth more than $16 million.

Norway's Oil Industry To Boost Staffing In Coming Years-Energy Minister
Tuesday, January 09, 2018 Norwegian oil companies and their suppliers will hire more people in the coming years, Norway's Minister of Petroleum and Energy says.

OPEC's Cheer Over 2018 Oil Rally Tinged By Shale Worries
Tuesday, January 09, 2018 Oil's price rally this year to its highest since May 2015 may seem a source of glee for OPEC.

OPEC's Oil Cuts Claim a Victim as Supertanker Earnings Crash
Tuesday, January 09, 2018 OPEC's strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry's supply chain.

Europe to Resume Role as Global Gas Sink
Monday, January 08, 2018 Europe will resume its role as a global gas sink from 2018-2020, absorbing surplus volumes of global LNG as supply growth outstrips demand.

Aqualis Offshore Expands Service Offering
Monday, January 08, 2018 Aqualis Offshore, a marine and offshore engineering consultancy, expands its service offering to include drilling rig inspections.

NPD Grants First Drilling Permit of 2018
Monday, January 08, 2018 The Norwegian Petroleum Directorate (NPD) grants its first drilling permit of 2018 to Lundin Norway AS for well 16/4-11.

Kuwait Energy In Merger Talks With London-Listed SOCO International
Monday, January 08, 2018 SOCO International evaluating a merger with Middle East oil and gas firm Kuwait Energy.

Investors Sense Opportunities In Big Oil - But Mind The Gap
Friday, January 05, 2018 Investors are gaining confidence - up to a point - that 2018 will be the year of oil stocks.

San Leon Energy Discussions with Potential Offerors CGUP, Geron Terminated
Friday, January 05, 2018 Discussions with potential offerors China Great United Petroleum (Holding) Limited (CGUP) and Geron Energy Investment (Geron) have been terminated, San Leon confirms.

Oil Shipments From Georgia's Batumi Port Fall By More Than A Third In 2017
Friday, January 05, 2018 Oil and related shipments from Georgia's Black Sea port of Batumi fell 37.6 percent in 2017.

Russia Stakes Stronger Claim to Growing Chinese Oil Market Through SR-II
Thursday, January 04, 2018 The second Sino-Russia oil pipeline (SR-II) will enable Russia to stake a stronger claim to the growing Chinese crude oil market.

Global Exploration Sector May Soon Return to Profit
Thursday, January 04, 2018 There are early signs that the global exploration sector may soon return to profit.

DEA Says Talks Over Final Merger Agreement With Wintershall Ongoing
Thursday, January 04, 2018 Talks over a final agreement to merge BASF's oil and gas unit Wintershall with DEA, a vehicle of Russian billionaire Mikhail Fridman, are still ongoing.

Finland Gives Up Control Of Neste As Stake Drops Below 50%
Thursday, January 04, 2018 The Finnish government donates shares in oil refiner and renewable diesel producer Neste.

Unipec Expands London Oil Trading With Three Ex-Noble Hires -Sources
Thursday, January 04, 2018 China's Unipec is said to have hired 2 former traders from commodity trader Noble Group to join its middle distillates desk in London.

Statoil Comes Up Dry in Central North Sea Well
Thursday, January 04, 2018 The Norwegian Petroleum Directorate confirms that Statoil Petroleum AS has come up dry in well 15/6-14 S.

Why I Returned to the Oilfield...
Thursday, January 04, 2018 Oil and gas workers detail their journeys exiting - and coming back - to the industry.

Rig Trends: Offshore Rig Fleet Poised for Comeback, but More Time is Needed
Thursday, January 04, 2018 Most of the 2018 indicators are positive, and should they shake out as predicted, the second-half of next year could finally be the start of a true recovery.

Rising Oil Industry Investment Drives Spectrum's Revenue Jump
Wednesday, January 03, 2018 Seismic surveyor Spectrum's 4Q revenue surge reflects a shift among oil firms towards more exploration, its chief executive told Reuters.

Oil, Gas Outlook: M&A, Asset Development Key to Future Growth
Wednesday, January 03, 2018 Argo Consulting's Alan Free discusses where the silver lining may be for oil and gas in 2018.

Russia-China Oil Friendship Makes Crude Costlier for Europe
Wednesday, January 03, 2018 Europe's set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market.

Borealis Taps Jacobs for Belgium PDH Plant Study
Wednesday, January 03, 2018 Proposed 740-kiloton facility would be one of world's largest PDH plants.

Norway's Pipeline Gas Exports To Europe At Record High In 2017
Tuesday, January 02, 2018 Norway's pipeline gas exports to Europe hit a record high in 2017, exceeding the previous year by almost 7%.

Shell To Retain Ownership of A/S Dansk Shell After Agreement Termination
Tuesday, January 02, 2018 Shell will retain ownership of A/S Dansk Shell after a sales agreement it signed with Dansk Olieselskab AS (DO) last year was terminated.

Moody's Sees Oil Prices At $40-$60 Per Barrel This Year
Tuesday, January 02, 2018 Moody's Investors Service expects oil prices in the range of $40 to $60 per barrel in 2018.

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