Germany’s EON SE will officially part with its fossil fuel past tomorrow, when a new company called Uniper is created. Here’s what you should know about the spinoff.
Oil & Gas
Empyrean Energy has reported a fall in interim revenue and pretax profit but said its flagship Sugarloaf asset in Texas is rising in value despite the low oil price.
ConocoPhillips will supply the first cargo of U.S. shale oil to be exported since a 40-year ban on such shipments was lifted less than two weeks ago.
Lundin has made a small gas discovery about 85km north eas of Berlevag in the Barents Sea.
Genel Energy said the Aigle-1X exploration well on the CI-508 licence offshore Côte d’Ivoire (Genel 24% working interest) is in the process of being plugged and abandoned after failing to encounter hydrocarbons. The completion of this well concludes Genel’s committed Côte d’Ivoire drilling programme.
BP's Valhall platform in the North Sea is being evacuated by helicopter after a barge broke its anchor and was drifting towards the installation following a storm.
The boss of the drilling company that owns the rig on which an offshore worker died ,after it was struck by a freak wave, said the incident was his "worst nightmare".
One worker has died and two others have been injured after huge waves hit a North sea rig.
A North Sea platform has entered its fifth day shut down as investigations continue into the cause of a gas leak on board the installation. Production was shut down on Marathon’s Brae Alpha platform after an alarm was raised on Boxing Day. Around 73 workers remain on board the platform which is about 155miles north east of Aberdeen.
Three offshore workers have been injured after a heavy wave hit a North Sea platform. Norwegian operator Statoil said an emergency response had been mobilised for the semi-submersible drilling rig, the COSL Innovator.
NOV (National Oilwell Varco) said it has terminated its contract with Estaleiro Atlantic Sul in Brazil to deliver seven deepwater drilling equipment packages.
Atlantic Petroleum said the company will not be paying a debt instalment to Eik Bank in the Faroe Islands this month. The company said the the amount of DKK19.55mm on its DKK58.5MM debt will not be met.
Statoil has welcomed first gas from the Corrib field after the Irish Government gave oil major Shell and its partners the final go-ahead. The Norwegian operator said the output from the Corrib field would be an important addition to Statoil’s international production portfolio. It comes after the Minister for Communication, Energy and Natural Resources gave consent for the pipeline, subject to 20 conditions related to environmental management, operation, control and monitoring.
Natural gas has started to flow from Ireland's Corrib field - a day after final approval for the project was confirmed by the Irish Government. Oil major Shell said six wells have been drilled with gas transported to the Bellanboy Bridge Gas Terminal in north-west Mayo through a 20 inch pipeline. The gas is processed at Bellanaboy before it is transferred into the Gas Networks Ireland (GNI) network, which delivers it to Irish gas consumers.
North Sea Forties crude oil will load at a rate of 455,171 barrels a day in February,down from January's revised rate of 523,000bpd, according to reports.
DOF Subsea has won two new contracts set to commence this month.
Russian oil company Lukoil has hit a new production milestone after topping 100 million tonnes of oil annually for the first time.
Triyards Holdings Limited has secured contracts to build two oil barges worth $21million for CPC Corporation. The new contracts are for the construction of a pair of oil barges intended for coastal service and the supply of bunker fuel to vessels in Taiwan’s harbour and coastal areas.
Subsea 7 has won a contract Burullus Gas Company for the platform extension and tie-in on the the first phase of the West Nile Delta development. The work is on BP’s Taurus and Libra fields’ offshore Egypt.
Lundin Petroleum said it has come up dry on the Ornen exploration well in the southern Barents Sea. The company said it had completed drilling and evaluation of well 7130/4-1 on the eastern parts of the Finnmark Platform.
Oil major Shell has been given final approval by the Irish Government to operate the Corrib gas pipeline and terminal, according to reports.
Oil fell, giving up some of a rally Tuesday that helped push U.S. stocks toward a gain for 2015. Chinese shares in Hong Kong fell as the offshore yuan touched an almost five-year low, while the US dollar extended its advance. West Texas Intermediate crude dropped 1.9 percent, holding above $37 a barrel. Standard & Poor’s 500 Index futures fluctuated after the US benchmark halted a two-day slide. The Hang Seng China Enterprises Index fell for a third day, widening a divergence with mainland equities.
Asia’s top commodity trader exits 2015 in very different shape to how it began the year. Noble Group Ltd. has lost almost two-thirds of its value, with its stock trading near the lowest since 2008, after a year of attacks on its finances by critics including the anonymous Iceberg Research and short-seller Muddy Waters LLC. The latest blow, amid a rout in raw materials, is the cut in its credit rating to junk by Moody’s Investors Service on concerns over its liquidity.
A north Sea platform remained shut down last night after a gas line ruptured on board the Brae Alpha. US oil and gas giant Marathon said it was conducting a “comprehensive investigation” into the incident which happened on Boxing Day. The firm said 73 workers remain on board the platform which is which is about 155 miles north east of Aberdeen after initial plans to evacuate were called off.
Rosneft has signed an MOU (Memorandum of Understanding) with Oil India and Indian Oil Corp.