North Dakota Governor Jack Dalrymple proposed a two-year state budget on Wednesday that forecasts rebounding oil prices and a 23 percent jump in oil taxes, a tacit bet the state's energy boom will continue unabated.Oil prices have dropped…
Oil prices are set for wild swings after OPEC's decision to let the market find its level, says the hedge fund manager famous for calling the 2008 oil price spike and crash, adding that U.S. producers are set to feel pain.Pierre Andurand…
Alexey Miller, Chairman of the Gazprom Management Committee and Mehmet Konuk, Chairman of the Board of Directors of Botas Petroleum Pipeline Corporation yesterday, signed in Ankara a Memorandum of Understanding on constructing an offshore gas pipeline across the Black Sea towards Turkey…
ABB has designed, manufactured, installed and commissioned a 1,200-kilovolt (kV) circuit breaker the highest AC voltage level in the world.Once the 1200 kV ultrahigh-voltage switchgear is fully operational, it will have a switching capacity of 10…
Europort 2015, the exhibition for maritime technology, has announced a special exhibitor package to benefit companies new to the marketplace and support them in showcasing their talents to the industry worldwide. The Europort ‘New-2-Market’…
The first ban on new hydraulic fracturing in Texas went into effect in the city of Denton, a month after voters deemed the oil and gas extraction method behind the U.S. energy boom a community nuisance.The Texas Oil & Gas Association, an industry group…
State-run Brazilian oil company Petrobras said on Tuesday it had started oil and natural gas production at its ultra-deep field in the U.S. Gulf, 280 miles (450 km) off the coast of Louisiana.Petroleo Brasileiro SA as the company is officially called said the Jack/St…
Rio Tinto expects to remain the lowest-cost iron ore supplier to China and therefore to be least affected by a slump in prices of the material, a senior executive said, dismissing rival BHP Billiton's threat to displace it in the ranking.Iron ore has lost about half of its value this year…
The Sidney-based ROPOS Remotely Operated Vehicle (ROV) was recognized for its contributions to British Columbia’s marine sector by the prestigious award of the SS Beaver Medal on November 26th. The medal, forged from the salvaged remains of the 19th century Hudson’s Bay Company’s SS Beaver…
Swiss trading house Mercuria has moved to become a significant player in the marine fuel market by hiring a team of close to 40 former employees from the once-largest supplier, traders and sources close to the matter said on Tuesday.The bankruptcy of Denmark's OW Bunker…
Oil workers in Gabon began an open-ended, industry-wide strike on Monday night after talks with the government collapsed, union ONEP said, and long queues formed at gas stations on Tuesday on fear of shortages.The trade union had been in…
Ensco plc announced that Carey Lowe has been promoted to Executive Vice President. Lowe will be responsible for overseeing investor relations, public relations, employee communications and branding, led by Vice President Sean O’Neill, as well as strategy…
Rolls-Royce confirmed today that it has completed the deal to sell its Energy gas turbine and compressor business to Siemens for a £785 million cash consideration. The deal was originally announced on 6 May this year.Rolls-Royce has also…
In November 2014 Angarsk Petrochemical Company produced about 100 thousand tons of winter diesel fuel of environmental class V of the Technical regulations (Euro-5).This is almost twice the amount produced in previous November, when 50…
Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an international oil company worth USD 8 million for the provision of 3D EM data from EMGS's multi-client data library in the Barents Sea. 'This sale…
