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China Becomes World’s Second Largest LNG Importer, Behind Japan

Source: GIIGNL LNG reports (2010-16), Global Trade Tracker export-import trade statistics (2017), and IHS Markit China surpassed South Korea to become the world's second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS Markit and official Chinese government s ...

OilVoice Press - OilVoice


Posted 2 days agoOpinion > EIAEnergy Information Administration EIAChina +5

Investment of $97bn on Top Ten Offshore Oil Projects to Add Over 1.6 Million Barrels Per Day by 2025, Says GlobalData

Over $151.5bn in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData , a leading data and analytics company. These ten projects, selected from 236 upcoming offshore projects globally, will contr ...

OilVoice Press - OilVoice


Posted 2 days agoPress > GlobalDataOffshoreOil +2

Norway Leading the Oilfield Service Comeback

In 2015 and 2016 we saw record low levels of offshore volumes sanctioned, which effectively is hurting oilfield service companies' backlog. With the cost cuts E&P players made during the downturn, coupled with the recent increase in oil prices, we now see a lot of offshore projects on a global lev ...

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Posted 2 days agoOpinion > NorwayRystad EnergyOffshore +3

S&P Global Platts Deploys Blockchain for Collation of Fujairah Oil Inventory Data

S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, has announced that it is deploying a proprietary, secure Blockchain network to allow market participants to submit weekly inventory oil storage data to Fujairah Oil Indust ...

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Posted 2 days agoOpinion > S&P Global PlattsBlockchainFujairah +2

Westwood Highlights Exploration Hits & Misses of 2017

  A new report from Westwood Global Energy Group shows better oil and gas exploration performance in 2017 than 2016 with discovered volumes, success rates and finding costs all improving. High impact oil & gas exploration remains challenged, however, with activity levels ...

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Posted 2 days agoPress > westwood global energy groupexplorationMexico +1

Tight Oil Remains the Leading Source of Future U.S. Crude Oil Production

Source: U.S. Energy Information Administration, Annual Energy Outlook 2018 EIA's recently released Annual Energy Outlook 2018 (AEO2018) Reference case projects that U.S. tight oil production will generally increase through the early 2040s, when it will surpass 8.2 million barrels per d ...

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Posted 3 days agoOpinion > United StatesUSCrude oil +3

Electric Vehicles: S&P Global Ratings Highlights the Potential Oil Market Ramifications

Over the next decade, we see downside to oil demand as a limited risk because each 1 million EVs (roughly equal to 2017 EV sales) only replace about 20,000 barrels/d and oil demand growth should continue on the back of growth from commercial transport and chemicals, with demand growth over the ...

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Posted 3 days agoOpinion > S&P Global PlattsOil MarketElectric Vehicles +1

Gazprom to Continue Effective Cost Optimization Efforts in 2018

The Gazprom  Board of Directors  took note of the information about the Gazprom Group's cost optimization (reduction) efforts in 2018. It was stressed that over the years the Company had sustained a comprehensive approach to cost reduction. The work in this area involves a number of main activitie ...

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Posted 3 days agoPress > Gazprom

Lonestar Announces 82% Increase in Proved Reserves

Lonestar Resources US Inc. (NASDAQ: LONE) announced that its proved reserves at December 31, 2017 increased 82% to 73.6 million barrels of oil equivalent (“MMBOE”) calculated using SEC guidelines. All of the Company's proved reserves are located in the Eagle Ford Shale. Lonestar's proved reserv ...

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Posted 3 days agoPress > Lonestar ResourcesReservesNasdaq +2

Parker Hannifin Signs EFA With Shell for Instrumentation Products

Shell's Enterprise Framework Agreement covers the supply of instrument tubing fittings, manifolds, valves, process-to-instrument valves and related products BARNSTAPLE, Devon, 22 February 2018 Parker Hannifin Corporation, the global leader in motion and control technologies, has signed a new En ...

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Posted 3 days agoPress > ShellEFAParker Hannifin

S&P Global Platts Survey of Analysts Suggests U.S. EIA Data to Show 119-Bcf Draw to Natural Gas Stocks

The U.S. Energy Information Administration (EIA) on Thursday is expected to report a 119-billion cubic feet (Bcf) withdrawal for the week that ended February 16, according to a survey of analysts by S&P Global Platts, the leading independent provider of information and benchmark prices for the comm ...

OilVoice Press - OilVoice


Posted 3 days agoOpinion > EIAEnergy Information Administration EIAUnited States +3

S&P Global Platts Preview of U.S. EIA Data: Likely to Show Crude Stocks Rose 2.5 Million Barrels

Smaller-than-usual builds in total US crude inventories combined with continued draws this winter at Cushing, Oklahoma (delivery point for NYMEX crude oil futures contracts), helped NYMEX crude futures find a bottom last week before turning higher, according to an S&P Global Platts preview of this ...

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Posted 3 days agoOpinion > S&PS&P Global PlattsUnited States +3

Matra Petroleum AB: Fourth Quarter and Twelve Months Ended 31 December 2017

Fourth quarter ended 31 December 2017 (Fourth quarter ended 31 December 2016) Revenue of TUSD 2,295 (TUSD 1,974), up 16% EBITDA of TUSD 433 (TUSD 232), up 87% Result for the period of TUSD -2,110 (TUSD -1,238) Earnings per share amounted to USD -0.05 per share (USD -0.04 per ...

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Posted 3 days agoPress > Matra PetroleumResultsEarnings +1

Noble Energy Awards Schlumberger Contract for Process Solution

Two-thousand-ton process module to be installed on Leviathan Field to recover MEG used for hydrate inhibition HOUSTON, February 21, 2018—Schlumberger today announced the award by Noble Energy of an engineering and supply contract for a two-thousand-ton single-lift process module to be installed ...

OilVoice Press - OilVoice


Posted 3 days agoPress > Noble EnergySchlumbergerMEG +2

Fugro Returns to China for Gas Hydrate Research Project in Further GMGS Contract

Fugro has been awarded a contract by Guangzhou Marine Geological Survey (GMGS) for gas hydrate investigation on the Northern Continental Slope of the South China Sea. The contract is valued at approximately US$ 40 million and the project is expected to commence in the second quarter of 2018. This ...

OilVoice Press - OilVoice


Posted 3 days agoPress > ChinaFugroGMGS +3