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Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slump that could dramatically rewrite market supply predictions. A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico and off of South America significantly boosting...
By Pat Davis Szymczak Ukraine has enacted a new law that trades future-energy tariffs for auctions to set a fair market price for green electricity. A new law just signed requires solar plants that generate over 1 MW to participate next year in energy auctions. The same will apply to...
ExxonMobil announced it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well. The well, located in Block 10, encountered a gas-bearing reservoir of approximately 436 feet (133 meters). The well was safely drilled to 13,780 feet (4,200 meters) depth in 6,769 feet (2,063...
ENI and Total will explore Caspian oil and gas blocks in offshore Kazakhstan, targeting Abay and Kashagan, plus onshore Karachaganak and Dunga. ENI is focused on exploration offshore in Kazakhstan while Total works onshore. Kazakhstan’s state-owned KazMunayGas and Eni Isatay, a subsidiary of the Italian energy company Eni, plan to...
Bloomberg says it has obtained documents confirming that Exxon Mobil Corp. is the latest company to raise concerns that a stockpile of U.S. government crude is tainted with poisonous gas. Exxon Mobil said some of the oil it purchased last year from the Energy Department’s Strategic Petroleum Reserve, or SPR,...
Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said. Since 2017, Russia and OPEC have cut...
Spanish wind power solutions provider Siemens Gamesa Renewable Energy (SGRE) is building what it claims is the world's largest wind blade testing rig. The Siemens wind blade testing rig is to be located at its facilities in northern Denmark. The new facility will be capable of performing full-scale tests...
Cyprus and Lebanon agreed to start negotiations on the exploitation of hydrocarbon reserves straddling the median line between their respective exclusive economic zones (EEZ), the Cyprus Mail reported. Foreign Minister Nicos Christodoulides, and Energy Minister Yiorgos Lakkotrypis, held talks in Beirut on Thursday with Lebanon’s Foreign and Energy Ministers, Gebran...
Cortec Corporation’s VpCI®-391 water-based coating is transforming transit and storage protection options for equipment manufacturers, suppliers, and owners. This removable coating delivers exceptional corrosion protection for indoor and outdoor applications and dries to a thin, clear film which is virtually unnoticeable. VpCI®-391 can be used to protect both unpainted...
Turkey will begin drilling for oil and gas around Cyprus, Turkish Foreign Minister Mevlut Cavusoglu said last week, a move that is obviously intended to position Turkey ahead of the fight to determine legal rights to offshore oil and gas resources in the island's territorial waters. In November, Exxonmobil together...