Oil & Gas
BASF and LetterOne to merge oil & gas operations
BASF and LetterOne have reached an agreement to merge their oil and gas businesses, Wintershall and DEA, to form a joint venture operating under the name Wintershall DEA. more
Castrol launches next-generation gear oils for industry
Castrol, one of the world’s leading lubricants companies, has launched an innovative gear oil to help industry reduce energy consumption and prevent unexpected downtime caused by gear failures. more
Stena Bulk strengthens position in crude oil
In recent months, Stena Bulk has expanded its fleet in the Sonangol Suezmax pool with the addition of six Suezmax tankers. more
Rotork ELB chosen for Chinese pipeline
EEF, the manufacturers’ organisation warns that nearly half of the UK’s manufacturers remain concerned about their ability to access skills post-Brexit, according to a new report. more
European oil & gas prices continue to rise
Just a few years ago, warmer winters and a low demand for power generation led to an oversupply of fuel and diminishing prices. Fast forward to today, and the picture is very different. more
Oil prices soar as US exits Iran nuclear deal
US President Donald Trump’s withdrawal from the Iran nuclear deal has many implications, both economic and political. more
Synthetic fuel made from recycled plastic
Vitol and Quantafuel, a producer of synthetic low-carbon fuel, have formed a strategic partnership to market a low-carbon fuel produced at Quantafuel's recycling plants. more
Proserv wins multi-million Repsol subsea contract
Proserv has won a contract worth over $5.5million from Repsol to upgrade and build new subsea production control equipment for the Yme field redevelopment in the Norwegian North Sea. more
Plan for development of Fenja oil field approved
Faroe Petroleum has announced that the Norwegian Minister of Petroleum and Energy has approved the plan for the development and operation (‘PDO’) of the Fenja oil field. more
Europe shunning Russian oil due to worsening quality
European refiners are threatening to cut Russian oil purchases due to worsening quality after Moscow has re-routed large volumes of crude to China as part of its fight with OPEC and the United States for market share in fast growing Asian markets. more
Hedge funds bet big on oil
Hedge funds reported record wagers on continued price increases for both U.S. and global oil benchmarks, along with gasoline and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best January since 2006. more
Norway defends new Arctic oil drilling
Several ministers from Norway's new government on Monday (22 January) defended the country's push for more oil in the high north. more
BASF plans major oil and gas merger with DEA
Germany’s chemical giant BASF plans to merge its oil and gas unit with DEA, paving the way for a departure from the energy business. more
Norway's $1 Trillion Wealth Fund To Drop Oil and Gas Stocks
Norway’s trillion-dollar sovereign wealth fund is proposing to drop oil and gas companies from its benchmark index, which would mean cutting its investments in those companies. more
