Government Update News

 

Oil Nears 3-1/2-year High on Middle East Sabre Rattling

Jul 05, 2018

OPEC supply cuts since 2017 have tightened market; oil has also risen on U.S. sanctions threat against Iran. Oil traded near its highest in 3-1/2 years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from U…

Venezuela's Creditors Call for Unity

Jun 25, 2018

A group of institutional investors holding roughly 13 percent of Venezuela's foreign debt said on Monday it will not back any restructuring plan that does not imply equal treatment for all creditors. The government of President Nicolas Maduro has halted almost all foreign debt payments…

PDVSA Raises Prospect of Force Majeure on Oil Exports

Jun 06, 2018

OPEC member Venezuela has raised the prospect of declaring force majeure on contracts with major crude buyers amid plummeting output from its oil fields and tanker bottlenecks at ports, according to three sources familiar with the matter.Falling…

New Rules on Ship Emissions Herald Sea Change for Oil Market

May 17, 2018

New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies.The regulations will slash emissions of sulfur, which is blamed…

US Military Seeks Rules for Drilling in Gulf of Mexico

May 11, 2018

An expansion of oil drilling in the eastern Gulf of Mexico would interfere with U.S. military testing unless the Pentagon and another agency develop rules to govern the work, the U.S. Department of Defense said in a report this week.The Defense…

Firms Complain of Contaminated Crude Lifted From U.S. SPR

Mar 29, 2018

Three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes, according to internal Energy Department emails and shipping documents reviewed by Reuters…

Saudi Aramco: IPO Work to be Completed in H2

Mar 08, 2018

Saudi Aramco Chief Executive Officer Amin Nasser said on Thursday that all work required from the oil giant for its initial public offering (IPO), which could be the biggest in history, will be completed in the second half of 2018. Speaking at a conference in London…

Wyoming, Utah Mull Funding Legal Challenges to West Coast Coal Policies

Feb 13, 2018

Lawmakers in coal-producing Utah and Wyoming, faced by a shrinking market for the fuel, this week introduced laws to fund legal challenges in California and Washington of policies that they believe hurt coal sales. A Utah lawmaker on Monday…

BP to Invest $1 Bln in Egypt This Year

Feb 12, 2018

BP is looking to invest over $1 billion in Egypt this year, making the country once again a top destination for investment, its CEO said on Monday.Speaking at an industry event in Egypt, Bob Dudley said the company was no longer owed any money by the Egyptian government…

Oil Faces Weekly Loss as Supply Worries Weigh

Feb 09, 2018

Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly losses in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. The drop came amid a rout in global equity markets sparked by inflation fears…

Oil Rises as OPEC Compliance Eclipses US Output

Feb 01, 2018

U.S. production tops 10 mln bpd for first time since 1970 as U.S. inventories rise by 6.8 mln bbls. Oil prices rose on Thursday after a survey showed OPEC's commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970…

IEA Sees Oil Markets Tightening as PDVSA Output Sags

Jan 19, 2018

As U.S. oil output is poised to overtake Saudi Arabia, Venezuelan oil output is at 30-year low - and could fall further. Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017's biggest unplanned output fall and could see a further decline in 2018…

Current News

ROVOP Opens Rotterdam Office

ROVOP Opens Rotterdam Office

Newpark Eyes Deepwater Opportunities

Newpark Eyes Deepwater Opportunities

BMT Unveils New Vessel Designs

BMT Unveils New Vessel Designs

Engie, EDP to Form 50-50 Offshore Wind JV

Engie, EDP to Form 50-50 Offshore Wind JV

Equinor Dishes $80 Mln Johan Sverdrup Contract

Equinor Dishes $80 Mln Johan Sverdrup Contract

Petrobras Eyes $9 Bln Transfer-of-rights Addendum

Petrobras Eyes $9 Bln Transfer-of-rights Addendum

Sonardyne Acquires EIVA

Sonardyne Acquires EIVA

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week