India buys most of its oil from Saudi Arabia. But it buys Iranian crude as well. So now that waivers of U.S. imposed sanctions on Iranian oil sales are ending, India is in trouble. India is among eight countries that recieved a six-month waiver when the U.S. re-imposed sanctions on...
Oil prices continue to climb in response to a Russian - Saudi deal to cut production in the face of a likely global supply glut. New York Futures closed Wednesday at $52/bbl, shrugging off bearish U.S. demand data. Russia will meet its target for curbing output in April as part...
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...
Total E&P got the go ahead for its Tilenga development in Uganda. The project received a green light by the National Environment Management Authority (NEMA) after a 10-month evaluation by the regulatory body. The French firm said the approval from NEMA was a major step in Uganda becoming an oil...
Global Data is forecasting that by 2023, China will account for 44% of Asian crude oil refining capacity; followed by India at 15% and Japan at 8%. China will drive the majority of growth in the crude oil refining industry in Asia between 2018 and 2023, according to GlobalData, a...
Uganda has put five new blocks on offer for its second licensing round in the Albertine Graben, according to an announcement by the Minister of Energy and Mineral Development Eng. Irene Muloni at the East African Petroleum Conference and Exhibition, Kenya. Muloni said Uganda was expecting many potential exploration companies...
Helena Oil & Gas is looking to attract fresh investment to its oil projects in Texas by creating the Helena Security Token (HEST). The creation of HEST lets investors support an existing, active project in the oil and gas sector without having to pay many of the extensive administrative and...
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...
Four modular combinations of Cometto self-propelled trailers MSPE 40t in side-by-side configuration have been involved recently in heavy duty movements by customer Marine Maroc. The project consisted of the transport of six diesel engines each weighing 215t and six generators each weighing 72t for the power plant of Kayes in Mali....
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...