Acquisition contributes to Transocean loss
A net loss for the first quarter was attributed in part to the acquisition of rival Songa Offshore, which Transocean said supported its rig fleet. The rig company, which has Continue Reading
Shell Wants Deepwater Breakevens Below $40
Even though Brent Crude prices hit $75 a barrel on Monday, Shell continues to stick to disciplined spending and wants deepwater projects to break even at $40 a barrel or Continue Reading
Putin looks at mending fences with west to revive Russia’s economy
President Vladimir Putin is contemplating an effort to repair relations with the west as sanctions and growing international conflict obstruct attempts to reinvigorate Russia’s stagnant economy. Ahead of his inauguration Continue Reading
Russia says its sea-based nuclear power plant is safe. Critics call it a ‘Floating Chernobyl.’
If a Russian state-owned company has its way, remote regions of the world will soon see giant, floating nuclear reactors pumping power to port cities and drilling platforms in a Continue Reading
Russian Oil Turns Its Back On Its Biggest Customer
At the beginning of this year, Russia doubled the capacity of pipeline exports to China, where it has been the top oil supplier for more than a year after overtaking Continue Reading
Nord Stream 2, other disputes fail to dent Russian natural gas flows to EU
Russia’s Gazprom continues to supply high volumes of natural gas to the EU despite long-running disputes over pipelines, competition and Ukraine, the latest S&P Global Platts guide to EU-Russian natural Continue Reading
Oil pares gains, market supported by Iran worries
Oil prices held steady on Tuesday as the dollar remained near a four-month high, with crude supported by worries that U.S. President Donald Trump may pull out of the Iran Continue Reading
Oil Surges After Netanyahu Says Iran Had Secret Nuclear Weapon Plan
Israeli prime minister says Iran is lying ‘big time’ France, Iran pledge joint effort to preserve the accord Crude rose after Israeli intelligence about Iranian nuclear ambitions heightened concern an Continue Reading
OPEC April oil output hits year low on Venezuela slide: Reuters survey
OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers, a Reuters survey found, sending compliance with a Continue Reading
Soaring Oil Prices See Saudi Economy Bounce Back
Saudi Arabia’s success in leading both OPEC and non-OPEC production partners in reigning in record high OECD oil inventories amid the group’s ongoing oil output cut is starting to pay Continue Reading