By Pat Davis Szymczak The U.S. and the EU are upset. Turkey has plans to drill offshore in an area that Cyprus claims as its exclusive economic zone. “This step is highly provocative and risks raising tensions in the region,” a U.S. State Department spokesperson told Reuters. “We urge Turkish...
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal. At current oil price levels, spending on land rigs, fracking and other...
The CEO of French oil and gas company Total S.A, Patrick Pouyanne said that the company would buy 10 percent share of LNG terminals of Novatek in Murmansk and in the Kamchatka region of Russia, arctictoday.com reported. The statement came during a Thursday meeting in the Kremlin between Pouyanne and...
Almost two-thirds of Norway’s undiscovered gas resources are expected to lie in the Barents Sea, which underlines the importance of this area for long-term gas exports from the Norwegian Continental Shelf. These were the words Bente Nyland, Director General  of the Norwegian Petroleum Directorate used in expressing her vision in...
Well-Centric, a FrontRow Energy Technology Group company, has announced the acquisition of Simmons Edeco Europe from its Canadian owner. The deal will create the UK's largest independent supplier of well integrity services, with operations in Aberdeen and Great Yarmouth in the UK, and in Esbjerg in Denmark. Simmons Edeco Europe is...
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...
Companies proposing new U.S. liquefied natural gas export projects, including one in Alaska’s Arctic, are optimistic that the agreement between the United States and China temporarily halting the imposition of higher tariffs could help advance their projects. U.S. President Donald Trump and Chinese President Xi Jinping have agreed to a...
Russian major Gazprom Neft is studying the possibility of launching its own liquefied natural gas production in the Arctic as it tries to monetize its vast natural gas reserves. Gazprom Neft announced a tender late last year for a study on how best to use its gas reserves in the...
China announced it would raise tariffs on liquefied natural gas (LNG) imports from the United States amid a series of additional levies, a move that could further reduce U.S. LNG shipments to the world’s fastest growing importer of the fuel. So far this year, only two LNG vessels have gone...
Greece's Energean Oil and Gas plc (LSE: ENOG, TASE: אנאג), has announced a signficant natural gas discovery in the Karish North exploration in the Israel sector of the East Mediterranean. Preliminary results as reported 15 April in a company new release showed: Initial gas in place estimates of between 1...