International

Courtesy of Woodside

Australian LNG major Woodside takes $4.3 bln impairment hit

Offshore Energy


Australian LNG major Woodside is bracing for a $4.37 billion impairments hit following an asset value review.

The company is expected to take a $2.76 billion hit in its financial statements for the half-year ended June 30, 2020, …

Weatherford signs 18-month contract with Iraqi Drilling Company

Weatherford signs 18-month contract with Iraqi Drilling Company

360 Feedwire


Agreement cover services and project management for drilling and completion of 20 wells

Weatherford International plc has signed an 18-month contract with the Iraqi Drilling Company (IDC) to provide services and project management for the drilling and completion …

July 14, 2020 - 7:00 am Crude Oil News, International, Oilfield Services
Source: CNBC

IMF slashes growth forecasts in the Middle East again amid an ‘unusually high level of uncertainty’

CNBC


The International Monetary Fund revised its growth forecasts for the Middle East and North Africa downward again amid an “unusually high level of uncertainty,” according to its latest regional economic report.

It now expects MENA economies to contract 5.7%

OPEC, allies set to ease oil cuts, seeing pandemic recovery – Fox Business Video

OPEC, allies set to ease oil cuts, seeing pandemic recovery – Fox Business Video

Fox Business


Oil & Gas Publishers Note: Key Point: “If OPEC clings to restraining production to keep up prices, I think it’s suicidal,” said a person familiar with the Saudis’s thinking. “There’s going to be a scramble for market share,

After the Bushfires and Amid the Pandemic, Australia’s Fossil Fuel Industry Is Gaining Steam

After the Bushfires and Amid the Pandemic, Australia’s Fossil Fuel Industry Is Gaining Steam

Jacobin


Oil & Gas Publishers Note: There are some key takeaways from this article from Zacharlas Szumer in Australia. The country was devastated by wildfires, then Covid, and now on to recovery. They are undergoing a typical “push-me-pullu” (Spelling from

Tellurian’s $2.5 billion Petronet deal expires, company fails to qualify for LNG supply

Tellurian’s $2.5 billion Petronet deal expires, company fails to qualify for LNG supply

DH


US energy upstart Tellurian has failed to qualify in a tender for supply of competitively priced gas to India just as its $2.5 billion tentative stake sale deal with Petronet LNG Ltd expired, officials said.

Petronet, India’s biggest gas

July 12, 2020 - 8:09 pm International, LNG
Source: Reuters

Libya lifts exports force majeure but says output recovery to be slow

Reuters


TUNIS/LONDON  – Libya’s National Oil Corporation (NOC) lifted force majeure on all oil exports on Friday as a Vitol tanker loaded at Es Sider after a half-year blockade by eastern forces, but said technical problems caused by the shutdown …

First Cobalt Announces Filing of Refinery Study

First Cobalt Announces Filing of Refinery Study

First Cobalt Announces Filing of Refinery Study Canada NewsWire TORONTO, July 10…

BP to invest $70 million in India’s Green Growth Equity Fund

BP to invest $70 million in India’s Green Growth Equity Fund

EnergyWorld


With this BP would become a limited partner in the equity fund, have representation on its advisory committee, and also the rights to co-invest in projects alongside GGEF

New Delhi: BP, UK-based oil and gas firm, on Tuesday …

July 9, 2020 - 2:30 pm International, Power Generation, Solar, Sustainability, Wind
Hudong to deliver third Yamal LNG carrier

Hudong to deliver third Yamal LNG carrier

Offshore Energy


Oil & Gas Publishers Note: There are some hidden takeaways in this article. The Chinese shipbuilding yard has 17 Large LNG carriers on order under a leasing business model. A brilliant business model to keep control of large

Source: Reuters

Exclusive: Russia’s Rosneft to buy a drilling business from IDS: letter

Reuters


MOSCOW – Rosneft is set to buy a drilling business from IDS Group, a letter to IDS staff seen by Reuters showed, as the Russian oil giant continues its push into oilfield services to help reduce costs.

The letter …

Source: Reuters

Iran’s oil storage almost full as sanctions and pandemic weigh

Reuters


LONDON – Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic, …

Source: Reuters

Write-downs put spotlight on energy majors’ scattered oil price outlooks

Reuters


LONDON – A series of huge write-downs among energy majors triggered by lower assumptions for future oil prices has put a spotlight on the sector’s scattered price outlooks.

On Monday, Eni announced a 3.5 billion euro ($3.95 billion) impairment …

Exclusive 360 Energy Expert Network Video Interview: Gareth Foulks-Jones – The international view of energy and renewables

Exclusive 360 Energy Expert Network Video Interview: Gareth Foulks-Jones – The international view of energy and renewables

When I read Gareth's articles, they were very interesting and had some great insight on renewables that I had not previously thought about. The discussions we had in the interview cover energy from all aspects around the globe. We even

Golar Power partners with Galileo and introduces Bio-LNG in Brazil

Golar Power partners with Galileo and introduces Bio-LNG in Brazil

Golar Power Limited (“Golar Power”) announces today that it has signed an agr…

July 6, 2020 - 12:58 pm International, LNG, Press Releases, Renewable Energy
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America;

Line 5 shutdown and what that means for Canadians

BOE


Oil & Gas 360 Publisher’s Note – This is an excellent example of the courts taking one side of the energy market and hurting many people. This is a bad short term decision, and is bad for Canada and

Record debts come due for Canadian oil patch after five years of crisis

Record debts come due for Canadian oil patch after five years of crisis

BOE Report


Six years ago, Canadian oilfield services firm Calfrac Well Services commanded a C$2.1 billion ($1.55 billion)market value and was poised for U.S. expansion.

But by last month, Calfrac’s market value had collapsed to just C$23 million and it …

U.S. natural gas exports to Mexico set to rise with completion of the Wahalajara system

U.S. natural gas exports to Mexico set to rise with completion of the Wahalajara system

EIA


Oil & Gas 360 Publishers Note: This is fantastic. Exporting and trading with Mexico and Canada is better for our neighbors and the United States. 

Exports of natural gas by pipeline are the largest component of U.S. natural gas …

BGBS & SK E&S will enter into Joint Ventures to scale up natural gas business in the PRC

BGBS & SK E&S will enter into Joint Ventures to scale up natural gas business in the PRC

HONG KONG , July 6, 2020 /PRNewswire/ —  Beijing Gas Blue Sky Holdings Limited …

Former reality TV contestants promise ‘instant and long lasting hot water’ in campaign by gas company Jemena

‘Steamy showers’: Australian Instagram influencers post on behalf of natural gas

The Guardian


Oil & Gas 360 Publishers Note: I found this as another interesting example of how strong the loyalties movement for the renewable markets can be. As an opinion piece from The Guardian, we like to post both sides

Oil Riggersn/a

No near end for Canada’s oil and gas reliance: report

Toronto Sun


Canada will be reliant on oil and gas for “years to come”, according to the Department of Employment.

A report published by Blacklock’s Reporter says the oil industry remains “fundamental” even as cabinet subsidizes electric cars and taxes …

Japan Inc. to invest $14bn in LNG development in Africa

Japan Inc. to invest $14bn in LNG development in Africa

Asian Review


TOKYO — The Japanese government and business sector will join hands on a joint financing deal totaling 1.5 trillion yen ($14.4 billion) for the development of liquefied natural gas in the African country of Mozambique, Nikkei has learned.…

July 3, 2020 - 8:21 pm International, LNG
Minesto to Complete Vestmannasund Installation During Upcoming Tidal Windows

Minesto to Complete Vestmannasund Installation During Upcoming Tidal Windows

STOCKHOLM , July 3, 2020 /PRNewswire/ —  Onshore and offshore installation work has…

2019 Sustainability Report And Commitments To Sustainable Development

2019 Sustainability Report And Commitments To Sustainable Development

NEW YORK , July 2, 2020 /PRNewswire/ —  COSAN LIMITED (NYSE: CZZ) , Cosan S/A (B3…

July 2, 2020 - 9:09 pm International, Press Releases, Sustainability
Half-year discoveries total 4.9 billion boe, lowest of the century

Half-year discoveries total 4.9 billion boe, lowest of the century

Oil&Gas


The resource volumes were 42% lower and the number of discoveries was down by 31% compared to the same period in 2019

Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the …

Saudi Aramco CEO Amin Nasser said that "the worst is behind us" for oil markets, in a recorded interview at CERAWeek.

Saudi Aramco CEO says the ‘worst is behind us’ for oil markets

Oil & Gas


Amin Nasser is optimistic about the second half of the year, and credited IKTVA and previous attacks on Aramco helped it build resilience before the pandemic

Saudi Aramco CEO Amin Nasser said that “the worst is behind …

ADNOC to shut down Bab oil field for maintenance

ADNOC to shut down Bab oil field for maintenance

Oil & Gas


The onshore oil field produces more than 370,000 barrels per day

ADNOC plans to shut down the onshore Bab oil field for regular maintenance until the end of July, a company spokesperson said.

“The company’s Bab onshore …

June 30, 2020 - 1:32 pm Crude Oil News, International
Samsung Heavy Industries and Bloom Energy Advance Plans for Clean Power Ships with Joint Development Agreement

Samsung Heavy Industries and Bloom Energy Advance Plans for Clean Power Ships with Joint Development Agreement

Bloom Energy (NYSE: BE) and Samsung Heavy Industries (SHI), a part of Samsung Group, have signed a joint development agreement (JDA) to design and develop fuel cell-powered ships.

June 29, 2020 - 8:00 pm International, LNG, Marine Shipping, Press Releases
Source: Reuters

Iraq lowers June oil exports, still pumps above OPEC+ target

Reuters


LONDON – Iraq’s oil exports have fallen by almost 9% or 310,000 barrels per day (bpd) in June, loading data and industry sources showed, suggesting OPEC’s second-largest producer has delivered about three-fifths of its pledge in an OPEC-led supply …

Sonatrach, Total sign LNG deal extension

Sonatrach, Total sign LNG deal extension

EnergyMix


Algerian national energy company Sonatrach has extended its liquefied natural gas (LNG) partnership with the French major Total.

The Algerian company noted in its statement the deal has been extended by a further three years.

Under the agreement, 2 …

June 28, 2020 - 11:06 am International, LNG