Russia pushes ahead with Nord Stream 2 before US sanctions
Russia is stepping up work on the Nord Stream 2 pipeline before the US tightens sanctions against the controversial project designed to feed more natural gas into Germany.
Europe
Severstal balances domestic demand with international option
Russia will remain the heart of Severstal’s focus for the near term, but uncertainty around the timing of a contract with Gazprom has encouraged international growth.
Bank-owned Bourbon emerges
Bourbon Maritime has emerged from bankruptcy and reorganisation, under which 1.5 billion euros ($1.83bn) of debt was cut.
Total in talks over 500 voluntary job cuts in France, CEO says
Total SE is discussing a plan for 500 voluntary job cuts in France, where the oil company has 35,000 employees, Chief Executive Officer Patrick Pouyanne said in an interview with France Inter radio.
A stack more floaters are headed for the chop
The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.
Glencore closes acquisition of Ørsted’s LNG
Glencore has completed its purchase of Ørsted’s LNG business, just under a year after announcing the deal.
Novatek talks up carbon-neutral LNG in Germany
Russia’s gas independent Novatek is extending its move into the downstream, launching an LNG fuelling station in Germany and delivering ISO tanks to China.
Court considers emissions cuts for Shell
A public hearing begins today in The Hague, with Shell facing demands to reduce its CO2 emissions.
KCA Deutag changing hands in financial restructuring to slash debt
Scottish oil and gas drilling giant KCA Deutag is changing hands as part of a financial restructuring to slash debt.
Neptune falls to third-quarter loss but North Sea projects brighten outlook
Neptune Energy fell to a loss in the third-quarter as its figures came under pressure from lower oil and gas prices and “operational issues” in Norway and Algeria.
Independent E&P firms that fail to adjust to energy transition will be gone by 2050, analyst says
Independent exploration and production (E&P) firms that fail to adjust to the energy transition face extinction before 2050, an analyst said today.
Total takes LNG bunkering record
Total has carried out the largest LNG bunkering operation ever, at the Port of Rotterdam on November 13.
Seismic acquisition has been lagging for too long
If the rising cost and environmental pressures experienced by the oil and gas exploration sector this year have shown us anything, it is this: it is time to make the impossible affordable.
Switzerland ends tax deductions for bribes
Swiss companies will no longer be able to deduct bribes paid from taxes – as of January 2022.
Prevention of corrosion, scaling and fouling
Novel injection, dispersion & mixing technology combats refinery corrosion
Nigeria protests target Shell in UK, Netherlands
Activists have mounted demonstrations at Shell’s headquarters in London and The Hague, in protest over the killings of the Ogoni 9 in Nigeria, 25 years ago.
Wilhelmshaven considers hydrogen, as LNG interest falls short
Germany’s planned Wilhelmshaven regasification terminal is reconsidering import plans and may opt to shift to hydrogen.
Engie drops US LNG amid energy transition shift
France’s Engie has pulled out of a proposed agreement to secure LNG from NextDecade’s Rio Grande LNG project, over concerns about shale gas development.
Total trims spending on price volatility
Total has no clear view on prices in 2021 and is taking a cautious stance on spending plans, the company’s CFO Jean-Pierre Sbraire said after the company published its third quarter results.
Total holds the dividend, cuts debt
Total has reported adjusted net income of $848 million, with an organic cash breakeven below $25 per barrel.
Drillers must scrap one quarter of floaters, Rystad says
Restructuring for offshore drillers will accelerate, Rystad Energy has predicted, and as much as one quarter of the global floater fleet could be scrapped.
SBS retake tanker off Isle of Wight
Following a day during which the Nave Andromeda product tanker was held by stowaways, UK special forces have retaken the ship offshore the Isle of Wight.
France says ‘non’ to Engie’s US LNG plans
The French government is delaying plans for Engie to secure a deal to import US LNG, citing concerns over emissions.
Turkey boosts Tuna gas find
Turkey has increased the amount of gas it believes to lie in the Tuna discovery by 85 billion cubic metres.
$20 per barrel for project approvals, Pouyanné states
Total remains committed to developing hydrocarbon resources, but the cost must be sufficiently low to survive in a world of lower prices, the company’s chairman and CEO Patrick Pouyanné has said.