Brazil refocuses its energy efforts into solar schemes
Brazil has launched a bid to boost its domestic solar manufacturing industry.
Electricity from renewables on record high, DECC report finds
Almost a fifth of the UK’s electricity was generated by renewables in the first three months of this year, official figures show.
Political games delay Mexican oil reform
The planned energy law reform in Mexico is facing delays due to political wrangling between the parties' lawmakers.
Militant flags planted on Iraqi refinery
Confusion surrounds the status of Iraq’s largest oil refinery, with witnesses reporting militants have hung their black banners at the site, while senior security officials claim the government still holds it.
Big Six hit by record complaints
Customer complaints to the Big Six energy companies have reached the highest number in a single quarter since records began - up 15% on the same time last year.
Training for new Emergency Breathing System to begin next month
Training for the new Emergency Breathing System (EBS) will be rolled out next month ahead of fast-tracked rules for implementation of the safety measures which come into force in January.
US sanctions fail to dilute ExxonMobil, Rosneft relationship
US sanctions have failed to dilute the relationship between the leaders of ExxonMobil and Rosneft.
BP’s annual report echoes broader global themes
A rejuvenated US market countered stifled production in conflict-ridden Libya, according to BP’s latest Statistical Review of World Energy. The review, first launched in in 1951, examined how energy has echoed broader global themes. The US recorded a massive increase of 1.1 million barrels a day, according to the research.
11th hour talks held to avoid massive oil worker walkout
Mediation talks aimed at avoiding a massive walkout which would impact Norway’s oil production will start tomorrow.
GE won’t seek bidding partner for Alstom deal
GE confirmed it won’t seek out a bidding partner to counter a possible rival proposal from Siemens and Mitsubishi Heavy for Alstom SA’s energy business.
China says it will help Iraq
China has extended its help to Iraq.
Convicted BP engineer granted new trial after compromised juror uncovered
A former BP engineer convicted of obstructing justice during the fallout of the 2010 Gulf of Mexico spill has been granted a new trial.
EnQuest takes over ExxonMobil’s Malaysian shares
EnQuest has agreed a deal to takeover ExxonMobil's share in the Malaysian Seligi oil field and the associated production sharing contract.
Statoil’s CLOV deepwater development comes on stream
Statoil’s CLOV deepwater development has come on stream offshore Angola.
Norway hit by 20% drop in investments
Norway looks to suffer its first drop in investment since 2010 due to ballooning costs and stagnating energy prices.
Shelf Drilling plans to float
Shelf Drilling confirmed plans to float on the London Stock Exchange. The firm, which amassed the largest fleet of 37ILC jackup rigs, recorded an adjusted revenue of $1.2billion last year. It’s current contract backlog for this year stands at $3.4billion.
Enegi Oil agrees MOU with Wood Group PSN
Enegi Oil has agreed a Memorandum of Understanding with ABT Oil and Gas (ABTOG) and Wood Group PSN (WGPSN) for the investment into marginal field initiatives.
Militants extend military gains in Iraq
Al-Qaida-inspired militants have pushed deeper into Iraq’s Sunni heartland, conquering Saddam Hussein’s hometown of Tikrit as soldiers and security forces yielded ground once controlled by US forces.
Siemens and Mitsubishi Heavy could launch rival Alstom bid
Siemens AG and Mitsubishi Heavy Industries could submit a joint bid to rival General Electric’s $17billion offer to buy Alstom SA’s energy business. “We firmly believe that we can substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France,” Mitsubishi Heavy Industries chief executive officer Shunishi Miyanaga said in a statement.
Goldman Sachs says US should keep oil export ban
A 40 year ban on US crude exports should remain intact until the market reaches “saturation” point, according a Goldman Sachs Group report. The booming shale production in the US has allowed the country to import less crude, leading to rumours about the ban being lifted. However, the bank’s report highlights that continuing to restrict exports oversees will result in the “highest value” to the US economy. Instead it said the world’s biggest oil consumer should wait until it hit a “saturation point” when domestic refining capacity can no longer sufficiently absorb increased oil production. The 1975 federal law curbs most exports overseas, except for very few refined exports including gasoline and diesel. “Keeping the ban in place would be the optimal decision until saturation is reached to maximize the contribution of the refining sector,” said Damien Courvalin, a Goldman analyst in New York. “Once saturation is reached, it would then be optimal to lift the ban as value added from higher production outperforms value added from the refining sectors.” Despite the ban being firmly in place, companies are still finding subtle ways to elude its restrictions. BP took over 80% of the capacity of a new $360 million mini-refinery in Houston that will process just enough to escape the restrictions. IHS Inc. previously said the ban should be lifted because it would fuel higher oil production and reduce gasoline prices. The nation may save an average of $67billion a year from its import bill in 2016 and add 964,000 jobs by 2018, according to the Colorado-based consultant.
Oystein Loseth appointed to Statoil board
Oystein Loseth has been appointed to Statoil’s board.
Russia delays Ukraine gas demand
Russia’s gas giant has given Ukraine another week before it will start demanding prepayment for gas, without which Moscow has threatened to cut off supplies.
Diver looked strangled, FAI hears
A court has heard a diver who died while carrying out a routine job hundreds of feet below the surface of the sea looked as if he had been strangled.
Video: The pathway from the North Sea to Mars is a two way street
In the Hollywood blockbuster Armageddon, silver screen heavyweight Bruce Willis leads a group of misfit drillers into space. Their mission is simple - use the techniques they’ve mastered on earth to save the planet from an asteroid the size of Texas.
Russian authorities release Greenpeace ship involved in oil protest
Russian authorities have released the Greenpeace ship involved in a high-profile protest against drilling for oil in the Arctic, the campaign group said.