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Statoil Awards Long-Term Subsea Contracts on the Norwegian Continental Shelf
Norway >> 12/14/2017 - Statoil has awarded new subsea maintenance framework agreements to Aker Solutions, TechnipFMC og OneSubsea. The contracts have a total estimated value of more than NOK 8 billion and a duration extendi...
North Sea Pipeline Closure 'Could Have Significant Impact on Consumers'
United Kingdom >> 12/13/2017 - Weeks-long closure after discovery of hairline crack has lead to concerns over how higher prices could affect consumers during cold snap. The closure of a major North Sea Forties pipeline after a crac...
Hurricane Provides Operational Update on Lancaster Early Production System ('EPS')
United Kingdom >> 12/12/2017 - Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has provided an operations update on activities related to the Early...
Subsea 7 Awarded EPCI Contract Offshore Norway
Subsea 7 Awarded EPCI Contract Offshore Norway Norway >> 12/11/2017 - Subsea 7 S.A. announced the award of a substantial(1) contract from Aker BP on behalf of the Skarv Unit for the Aerfugl(2) gas field development, located approximately 210 km west of Sandnessjoen in t...
Premier Oil Announces Sale of Interest in ETS Pipeline
United Kingdom >> 12/11/2017 - Premier has entered into a sale and purchase agreement (SPA) to sell its entire equity interest in the Esmond Transportation System (ETS) pipeline to CATS Management Limited (an Antin Infrastructure P...
Petrofac Hires Bain & Co to Explore Options for North Sea Business
United Kingdom >> 12/11/2017 - British oilfield services company Petrofac Ltd (PFC.L) has hired consultancy Bain & Co to explore options for the its North Sea operations, including a sale, the Times reported. ...
Sparrows Group Acquires Wind Energy Specialist Alpha Offshore Service
United Kingdom >> 12/11/2017 - Sparrows Group has cemented its position in the renewables sector with the acquisition of Danish wind energy specialist Alpha Offshore Service A/S. ...
OPEC Reference Basket - November 2017
OPEC Reference Basket - November 2017 Austria >> 12/10/2017 - Amid continuing bullish oil market fundamentals, the ORB monthly value firmed above $55.50/b in October to its highest in almost two-and-a-half years. Throughout the month, prices have been bolstered ...
Update on the Incident at Tambar Field
Norway >> 12/8/2017 - Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, notes the further press release ...
CHC Announces New Contract with Centrica to Support Norwegian Sea Drilling Program
Norway >> 12/8/2017 - CHC Group announced it has been awarded the contract from Centrica to provide helicopter services in support of their forthcoming drilling program at the Fogelberg field in the Norwegian Sea. ...
EDF Energy Awards Contract to SIMMONS EDECO
United Kingdom >> 12/8/2017 - SIMMONS EDECO, a leading supplier of wellhead and valve maintenance, asset integrity solutions and onshore drilling services to the global oil and gas industry, announced that it has been awarded a co...
Cambridge Consultants is Accepted for NVIDIA Deep Learning Service Delivery Programme
United Kingdom >> 12/8/2017 - Product design and development firm Cambridge Consultants has been accepted into the NVIDIA Partner Network (NPN) Service Delivery Program. This reflects Cambridge Consultants’ commitment to deliverin...
LetterOne and BASF Sign Letter of Intent
Denmark >> 12/7/2017 - DEA Finance SA announces that LetterOne, the shareholder of the DEA Group, has confirmed it has signed a Letter of Intent with BASF to combine the parties’ oil and gas businesses in a joint venture to...
Aker Solutions to Design Johan Castberg FPSO Accommodation Unit
Norway >> 12/7/2017 - Aker Solutions has been awarded a contract by Sembcorp Marine to design the living quarters for the Johan Castberg development's floating production, storage and offloading vessel (FPSO). ...
Incident at Tambar Field
Norway >> 12/7/2017 - Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, notes the press release provided...
Sparrows Group Awarded 5-Year Contract with Premier Oil
United Kingdom >> 12/7/2017 - Sparrows Group has secured a new five-year contract with Premier Oil for the provision of crane operations and maintenance across two of its North Sea assets. The scope of work, awarded to Sparrows fo...
Proven MAN Compression Technology for Offshore Gas Production
Norway >> 12/6/2017 - Aker BP’s offshore platform Ivar Aasen has started production in the Norwegian North Sea. The facility features MAN’s hermetically-sealed motor-compressor HOFIM™, which was successfully commissioned i...
Aker Solutions Wins Johan Castberg Orders Totaling Approx. NOK 4 billion
Norway >> 12/5/2017 - Aker Solutions has been awarded key work to help Statoil develop the Johan Castberg field, the largest oil discovery in the Norwegian Barents Sea. The company will supply the subsea production system ...
Statoil Submits Plan for Development, Production & Awards Johan Castberg Contracts
Norway >> 12/5/2017 - Statoil has submitted the PDO (plan for development and operation) for the Johan Castberg project on behalf of the partnership with Eni and Petoro. Several major contracts will also be awarded to Norw...
San Leon Energy Announces Relinquishment of Certain Polish Assets
Poland >> 12/5/2017 - San Leon Energy, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, announces that it has informed the Ministry of Environment in Poland of its intention to ...
Strategic Agreement Between Total & CMA CGM on LNG Fuel Supply for CMA CGM Ships
France >> 12/4/2017 - Total and CMA CGM have signed an agreement covering the supply of around 300,000 tons of liquefied natural gas (LNG) a year for 10 years starting in 2020. This unprecedented volume in the history of L...
Lundin Petroleum Spuds Exploration Well on the Hurri Prospect
Norway >> 12/4/2017 - Lundin Petroleum has announced that its wholly owned subsidiary Lundin Norway has commenced drilling of exploration well 7219/12-3 on the Hurri Prospect in PL533 in the southern Barents Sea. The well ...
Pandion Energy to Partner with Aker BP on Valhall
Norway >> 12/4/2017 - Pandion Energy AS has entered into an agreement with Aker BP ASA to acquire a 10 percent interest in the Valhall area, including licences PL006B, PL033 and PL033B. ...
ADX Secures US$2 Million Investment to Commence Romanian Appraisal Program
Romania >> 12/4/2017 - ADX Energy has signed an agreement with Reabold Resources to invest US$2 million in the recently incorporated Danube Petroleum, currently a wholly-owned ADX subsidiary, which (upon completion of trans...
Egdon Resources Acquired 100% Interest in Promote Licence P2304
United Kingdom >> 12/4/2017 - Egdon Resources plc has announced the acquisition of 100% interest in Promote Licence P2304 (UKCS Block 41/24) from Arenite Petroleum Limited and Europa Oil & Gas Limited. P2304 is located to the imme...
Robert Gordon University Launches World-First Decommissioning Simulator
United Kingdom >> 12/4/2017 - Aberdeen’s Robert Gordon University (RGU) has launched a state-of-the-art decommissioning simulator to service the growing sector. The simulator and the associated software is a world-first and will b...
Rotork’s RHS Solves Valve Access Issue at Water Treatment Plant
United Kingdom >> 12/4/2017 - Recent rehabilitation at the drinking Water Treatment Plant #2 in Olathe, Kansas, USA, has included the installation of Rotork IQ3 intelligent electric valve actuators to replace electric actuators fr...
DUC Partners Approve Largest ever Danish North Sea Investment
Denmark >> 12/1/2017 - Maersk Oil announces that the Danish Underground Consortium (DUC) has approved an investment of approximately 21bn DKK in the full redevelopment of the Tyra gas field. The announcement follows the Dan...
EnQuest Completes Acquisition of Stake in Magnus Field from BP
United Kingdom >> 12/1/2017 - EnQuest PLC has completed the acquisition of an initial 25% interest in the Magnus oil field ('Magnus'), a 3.0% interest in the Sullom Voe Oil terminal and supply facility ('SVT') and additional inter...
Lukoil Takes Final Investment Decision on Delayed Coker at Nizhny Novgorod Refinery
United Kingdom >> 11/30/2017 - PJSC LUKOIL announces that the final investment decision on the delayed coker complex at Nizhny Novgorod refinery was taken. The complex includes the construction of the delayed coker unit itself, the...
Yokogawa Wins Control System Order for First Flue Gas Desulfurization System in the West Balkans
United Kingdom >> 11/29/2017 - Yokogawa Electric Corporation (TOKYO: 6841) announces that it will deliver a control system for a flue gas desulfurization system that is to be installed at the Ugljevik coal-fired power plant in nort...
Swindon Plans to Build UK’s Largest Battery Storage Facilities
United Kingdom >> 11/29/2017 - Public Power Solutions, the wholly-owned company of Swindon Borough Council, has submitted a planning application to build one of the UK’s largest battery-based electricity storage facilities at the f...
Airbus, Rolls-Royce, and Siemens Team Up for Electric Future
Denmark >> 11/28/2017 - Airbus, Rolls-Royce, and Siemens have formed a partnership which aims at developing a near-term flight demonstrator which will be a significant step forward in hybrid-electric propulsion for commercia...
First LNG Shipment Delivered to Tornio Manga Terminal
Finland >> 11/28/2017 - The Tornio Manga liquefied natural gas (LNG) receiving terminal in Northern Finland, built under a turnkey contract by the technology group Wartsila, achieved another significant milestone on 27 Novem...
MAN Gas Engine Wins German Cogeneration Order
Germany >> 11/28/2017 - MAN Diesel & Turbo has won the contract to supply a 12V35/44 gas engine with dual turbocharger for a heat/power cogeneration unit in southern Germany. The new MAN unit has an output of 7.5 megawatts (...
KBR Awarded Concept & FEED Contract for Statoil's Ground-Breaking Northern Lights Project
Norway >> 11/28/2017 - KBR, Inc. (KBR) announced it has been awarded the Concept and FEED (front-end engineering design) contract by Statoil for their ground-breaking Northern Lights Project, to develop an onshore carbon di...
Statoil to Establish a New Onshore Integrated Operations Centre
Norway >> 11/28/2017 - Statoil will in 2018 establish a new onshore integrated operations centre (IOC) that will help increase safety, add value and reduce emissions from its installations on the Norwegian continental shelf...
Wood Secures New Framework Agreement for Dounreay Nuclear Decommissioning Site
Scotland >> 11/28/2017 - Wood has been awarded a new framework agreement by Dounreay Site Restoration Ltd (DSRL) to provide industrial services for its nuclear decommissioning site in Thurso, Scotland. Effective immediately, ...
Well-Safe Solutions Selects Dundee for Onshore Marine Support Base
Scotland >> 11/28/2017 - Well-Safe Solutions, the Aberdeen-based well abandonment specialist, has chosen to locate its onshore marine base in the Port of Dundee. The rapidly growing well abandonment specialist made the announ...
Statoil Awards Battery Contract in Batwind Project
Scotland >> 11/28/2017 - Hywind Scotland, the world’s first floating wind farm, will next year be equipped with a battery to store power from the wind farm. The purpose is to “teach” the battery when to hold back and store el...
Alstom will Install its Latest Generation ERTMS Technology in Adif’s Laboratory Trains
Spain >> 11/28/2017 - Alstom has been awarded a project by the Spanish railway infrastructure manager Adif to equip three auscultation trains with its latest ERTMS technology solution Atlas. This upgrade of the on-board s...
ABB & HPE Bring Intelligence to Industrial Plants
Switzerland >> 11/28/2017 - ABB and Hewlett Packard Enterprise (HPE) today announced a strategic global partnership that combines ABB’s industry-leading digital offerings, ABB AbilityTM, with HPE’s innovative hybrid information ...
Cluff Natural Resources Announces Extension of Southern North Sea Licences
United Kingdom >> 11/28/2017 - Cluff Natural Resources, the AIM quoted natural resources investing company, has announced that the UK’s Oil & Gas Authority ('OGA') has confirmed that the Company’s two 100% owned Southern North Sea ...
C-Kore’s 100th Subsea Testing Unit Deployed
United Kingdom >> 11/28/2017 - C-Kore Systems, has recently celebrated the deployment of its 100th C-Kore unit. This milestone was reached on a fault-finding campaign with a major oil company in the North Sea. The units have simpli...
Statoil Takes Over Operatorships & Equity in the Martin Linge Field
Norway >> 11/27/2017 - Statoil and Total have agreed on a transaction whereby Statoil will acquire Total’s equity stakes in the Martin Linge field (51%) and the Garantiana discovery (40%) on the Norwegian continental shelf ...
Prospex Oil and Gas Announces Commercial Gas Discovery, Onshore Romania
Romania >> 11/27/2017 - AIM-listed Prospex Oil and Gas has been advised by the operator, Raffles Energy, that a new gas discovery has been made at the Bainet-1 well in the Exploration Area of the EIV-1 Suceava Concession, on...
ABB & Kawasaki Announce Collaborative Robot Automation Cooperation
Switzerland >> 11/27/2017 - ABB and Kawasaki Heavy Industries, two global industrial automation and robot suppliers, announced that the companies will join forces to share knowledge and promote the benefits of collaborative robo...
OGA Releases the Results of the £20 million UK Government-Funded Seismic Programme
United Kingdom >> 11/27/2017 - The Oil and Gas Authority has released the results of the £20 million UK Government-funded seismic programme to promote exploration activity in under-explored areas of UK Continental Shelf. This data ...
MAN Technology Secures Natural Gas Transport in Bavaria
Germany >> 11/23/2017 - MAN Diesel & Turbo has concluded a contract for the delivery of three MOPICO® (MOtor PIpeline COmpressor) to German remote line network operator bayernets GmbH. The contract also comprises comprehensi...
Snadd Changes Name to Aerfugl
Norway >> 11/23/2017 - Aker BP has chosen “Aerfugl as the new name for the 60 kilometer long gas field just west of the Skarv field. The decision came after a name contest organized in collaboration with the local newspape...
Eight Energy Companies Commit to Reduce Methane Emissions within Natural Gas Industry
United Kingdom >> 11/23/2017 - BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall have committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies al...
Angus Energy Raises £3,000,000 via Private Placement
United Kingdom >> 11/23/2017 - Angus Energy Plc, a conventional oil and gas production and development company, has successfully raised £3,000,000 (gross) by means of a private placement with institutional and private investors.
Contract Extension for FPSO Umuroa
Norway >> 11/22/2017 - BW Offshore has received a one-year contract extension for the lease and operation of the FPSO Umuroa. The FPSO is operating on the Umuroa field offshore New Zealand for Tamarind. The firm period has ...
DEA Awards $68M Dvalin Drilling Contract to Transocean
Norway >> 11/22/2017 - Transocean Norway Operations AS with the drilling rig Transocean Arctic is awarded the contract to drill production wells at the Dvalin field in the Norwegian Sea. ...
E.ON Wind Service Strengthens its Customer Basis in Sweden
Sweden >> 11/22/2017 - E.ON Wind Service is growing in the Swedish market for wind services. The company won a five year contract for operation and maintenance service for a Nordex wind farm with an installed capacity of 10...
EP UK Investments Acquires Decommissioning Consultancy RVA Group
United Kingdom >> 11/22/2017 - Specialist decommissioning, decontamination, dismantling and demolition consultancy RVA Group has announced that the company has been acquired by Prague based Energetick? a pr?myslov? holding (EPH) vi...
Dudgeon Offshore Wind Farm Officially Opened
United Kingdom >> 11/22/2017 - Today, operator Statoil and partners Masdar and Statkraft officially opened the Dudgeon offshore wind farm in Great Yarmouth, UK. Since the investment decision was made in 2014, construction costs hav...
Magseis Awarded Contract in the North Sea
United Kingdom >> 11/22/2017 - Magseis is in the process of finalizing a contract with an undisclosed client for the provision of a 4D seabed seismic acquisition survey in the North Sea using the company’s proprietary MASS system. ...
First Oil Production from Western Isles Development Project
United Kingdom >> 11/22/2017 - Japan Oil, Gas and Metals National Corporation (JOGMEC) announced today that CIECO Exploration and Production (UK) Limited (hereinafter "CIECO UK"), a wholly owned subsidiary of ITOCHU Corporation (IT...
Non-OPEC Oil Supply Highlights in 2018 - November 2017
Non-OPEC Oil Supply Highlights in 2018 - November 2017 Austria >> 11/21/2017 - Non-OPEC supply in 2018 was revised down by 94 tb/d compared to last month’s analysis to average 58.54 mb/d, and now is expected to grow at a slower pace, which was also revised down by 71 tb/d to 0.8...
CGG Announces Availability of Broadband High-Resolution Images Across Northern Viking Graben
Norway >> 11/21/2017 - CGG has announced delivery of the final time-processed data from its Northern Viking Graben multi-client 3D BroadSeis™-BroadSource™ survey. This new product offers exploration companies over 35,000km2...
Expro Secures $5million/£3million Well Testing Contract in UK North Sea
United Kingdom >> 11/21/2017 - Leading international oilfield services company, Expro, has been awarded a five year contract extension for surface well testing services across several assets for an operator in the UK North Sea. The...
Siccar Point Energy Farms out West of Shetlands Lyon Prospect to Ineos
United Kingdom >> 11/21/2017 - Siccar Point Energy E&P has entered into a farmout agreement with Ineos UK SNS covering two exploration licences (P.1854 and P.1935) in the West of Shetlands area, containing the significantLyon Prosp...
BP to Sell Bruce Assets to Serica
United Kingdom >> 11/21/2017 - BP has agreed to sell a package of its interests in the Bruce assets in the North Sea to Serica Energy. BP currently operates the assets, which comprise the Bruce, Keith and Rhum fields, three bridge-...
Europa Oil & Gas Provides Update on Holmwood Well, PEDL 143, Weald Basin
United Kingdom >> 11/21/2017 - AIM-listed Europa Oil & Gas has provided a planning update regarding the Holmwood oil exploration prospect on licence PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. Europa Oil & Gas Limited is...
PSA Conducts Audit of Statoil and Songa Offshore – Troll Field
Norway >> 11/20/2017 - PSA has carried out an audit of Statoil Petroleum (Statoil), Songa Offshore (Songa) and relevant drilling and well service contractors as concerns their planning and execution of drilling and well act...
Wintershall Deploys Downhole Wireless Integrity Monitoring System on Maria Field
Norway >> 11/20/2017 - Emerson’s latest Roxar Downhole Sensor System has been deployed on the Maria field offshore Norway, providing the field’s operator Wintershall with improved well integrity monitoring and offshore safe...
Well-Centric Awarded North Sea Well Integrity Contract
United Kingdom >> 11/20/2017 - Well-Centric, a leading independent specialist operating in the well integrity and production technology sectors of the oil and gas industry, has secured a contract worth up to £300,000 per year with ...
Wood Commences New Partner Contract for SAGE System and Beryl Pipeline
United Kingdom >> 11/20/2017 - Wood has commenced a multi-million dollar, evergreen contract to act as operating partner of the Scottish Area Gas Evacuation (SAGE) system and Beryl pipeline, on behalf of Ancala Midstream Acquisitio...
Union Jack Oil's Bid to Buy 20% Interest in Fiskerton Project Approved
United Kingdom >> 11/20/2017 - Further to the announcement of 6 November 2017, Union Jack Oil, a UK-focused, onshore oil and gas production and exploration company, has announced that the Oil and Gas Authority has approved the acqu...
i3 Energy Secures $25 million Credit Facility for 2018 Liberator Field Development Programme
United Kingdom >> 11/20/2017 - i3 Energy has received an indicative proposal and confirmed support from two UK-based lenders for a $25 million senior secured credit facility. ...
OMV Norge AS Receives Consent for Exploration Drilling in the Norwegian Sea
Norway >> 11/17/2017 - OMV Norge AS (OMV) is the operator for production licence 644 in the Norwegian Sea. We have given the company consent to drill exploration well 6506/11-10 in a prospect named Hades & Iris. Drilling is...
Aker Solutions to Provide Umbilicals for 3 Offshore Norway Field Developments
Norway >> 11/17/2017 - Aker Solutions has won a contract to provide umbilicals for the Statoil-operated Johan Sverdrup, Utgard and Bauge developments offshore Norway. The order entails delivery of more than 40 kms in total ...
Angus Energy Commences Production from Lidsey-X2
United Kingdom >> 11/17/2017 - Angus Energy Plc, a conventional oil and gas production and development company, has commenced production at Lidsey Oil Field from the well, Lidsey-X2. Following the drilling and completion of the Lid...
Norwegian Cruise Line Orders PrimeServ Upgrades for Multiple Vessels
Norway >> 11/16/2017 - MAN PrimeServ, MAN Diesel & Turbo’s after-sales division, has confirmed an order from Norwegian Cruise Line for SOLAS (Safety of Life at Sea) insulation upgrades for nine ships, totalling 44 engines, ...
EU Plus Norway Stock Movements - November 2017
EU Plus Norway Stock Movements - November 2017 Norway >> 11/16/2017 - Preliminary data for September showed that total European stocks fell by 11.8 mb reversing the build of last two months. At 1,133 mb, European stocks were 16.2 mb, or 1.4%, lower than the same time a ...
Kvaerner Awarded Construction Contract for Yme Support Structure
Norway >> 11/16/2017 - Kvaerner has been awarded a contract with Repsol Norge AS for the construction of a permanent caisson support structure for the Yme New Development project. ...
NPD Grants Consent for Start-up of Production from Wintershall's Maria Field
Norway >> 11/16/2017 - The Norwegian Petroleum Directorate has granted consent for start-up of production from the Maria field in the Norwegian Sea. The development will come on stream almost one year ahead of the original ...
Well-Safe Solutions Secures Its First Contract
United Kingdom >> 11/16/2017 - The specialist well abandonment company has secured a three-year framework agreement with TAQA for the provision of intervention management services for all their North Sea assets. ...
Refinery Margins - November 2017
Refinery Margins - November 2017 Austria >> 11/15/2017 - US product markets received very strong support in the previous months on the back of significantly higher US gasoline demand. However, with the end of the driving season in the US, the typical season...
Simple-Cycle Efficiency Raised to Entirely New Level with the Wartsila 31SG Engine
Finland >> 11/15/2017 - The technology group Wartsila has introduced a gas fuelled version of the successful Wartsila 31 engine, the Wartsila 31SG. This follows very positive acceptance of the diesel version in marine sector...
Shearwater GeoServices Awarded ONGC Survey
Norway >> 11/15/2017 - Shearwater GeoServices (Shearwater) has been awarded a 3D broadband marine seismic acquisition contract by ONGC for the planned 2017/2018 field season. The surveys are expected to take approximately f...
Testing Digital Technology to Improve Energy Trading Efficiency
Norway >> 11/15/2017 - ‘Blockchain’ may sound cryptic, but the mystique is limited when it comes to what it could offer a company doing thousands of physical energy trades every year. ...
Balance of Supply and Demand in 2018 - November 2017
Balance of Supply and Demand in 2018 - November 2017 Austria >> 11/14/2017 - OPEC crude for 2018 was also revised up by 0.4 mb/d from the previous report to stand at 33.4 mb/d, around 0.5 mb/d higher than the 2017 level.

All the quarters were revised up by nearly 0...
Oil Market Highlights - November 2017
Austria >> 11/13/2017 - Crude Oil Price Movements
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the highest value in more than two-and-a-half years, w...
Recent Developments in Global Oil Inventories - November 2017
Austria >> 11/13/2017 - Over the years 2014 through 2016, global oil inventories grew rapidly, as global oil supply outpaced world oil demand. During the same period, the crude futures’ forward curve flipped into a prolonged...
Crude Oil Price Movements - November 2017
Austria >> 11/13/2017 - The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the highest value in more than two-and-a-half years, with a year-to-date average of $50.68/b....
Commodity Markets - November 2017
Austria >> 11/13/2017 - Energy commodity prices generally increased in October, led by higher crude oil prices. Natural gas prices showed mixed trends, decreasing in the US, but advancing in Europe while coal prices remained...
World Economy - November 2017
Austria >> 11/13/2017 - The global economic growth dynamic has continued its broad-based and relatively strong momentum. Particularly the OECD economic growth trend was better than expected so far this year. Moreover, the po...
World Oil Demand - November 2017
Austria >> 11/13/2017 - World oil demand growth in 2017 was adjusted higher from the previous month by 74 tb/d, mainly to reflect better-than-expected data from China in 3Q17. As such, world oil demand growth for 2017 now s...
World Oil Supply - November 2017
Austria >> 11/13/2017 - World oil supply in October increased by 0.53 mb/d m-o-m from the previous MOMR to average 96.71 mb/d, representing an increase of 0.17 mb/d y-o-y. ...
Product Markets and Refinery Operations - November 2017
Austria >> 11/13/2017 - Product markets in the Atlantic Basin weakened during October due to a decline in gasoline demand following the end of the US driving season. Nevertheless, the US saw solid product demand for this ti...
Tanker Market - November 2017
Austria >> 11/13/2017 - In October, tanker spot freight rates for dirty vessels edged up across all classes trading on most major routes ahead of winter season requirements. VLCC spot freight rates achieved the strongest gr...
Oil Trade - November 2017
Austria >> 11/13/2017 - In October, preliminary data shows that US crude oil imports increased to average 7.7 mb/d, up by 564 tb/d from last month and an increase of 132 tb/d from the same month a year earlier. Year-to-date...
Stock Movements - November 2017
Austria >> 11/13/2017 - OECD commercial oil stocks fell by 23.6 mb in September to stand at 2,985 mb, which was around 154 mb above the latest five-year average. Crude and products indicated surpluses of 129 mb and 25 mb ab...
Balance of Supply and Demand - November 2017
Austria >> 11/13/2017 - OPEC crude in 2017 is estimated at 33.0 mb/d, which is 0.7 mb/d higher than the 2016 level. In 2018, demand for OPEC crude is projected at 33.4 mb/d, about 0.5 mb/d higher than the 2017 level. The se...
New Wartsila-Supplied Power Plants will Accommodate Broad Range of Operating Profiles
Finland >> 11/13/2017 - The technology group Wartsila has received full notice to proceed with the delivery of the engines for two new power plants being built by an investor owned utility in the USA. The order was originall...
Hydrogen Could Contribute to 20% of CO2 Emissions Reduction Targets by 2050
France >> 11/13/2017 - As global leaders gathered at COP 23 in Bonn, 18 key leaders in their industry verticals, united in the Hydrogen Council coalition, came together to launch first ever globally quantified vision of the...
Aker BP Receives Consent to Drill Exploration Well 24/9-12 S in PL 340
Norway >> 11/13/2017 - Norway's Petroleum Safety Authority has given Aker BP consent to drill exploration well 24/9-12 S in production licence PL 340. Drilling is scheduled to start during November 2017. The well's geograp...
UK & Norway Join Forces to Optimise Late Life Field Assets and Field Abandonment
Norway >> 11/13/2017 - The Industry Technology Facilitator (ITF) and Norwegian Energy Partners (NORWEP) are hosting joint technology hackathon events later this month to collectively tackle operator late life and decommissi...

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