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Company News

Oil prices have continued to languish below $50 per barrel as a glut of crude oil and gasoline persist even as global demand continues to rise. The IEA still predicts that oil consumption will expand by another 1.4 million barrels per day in 2016, while production stagnates. That dynamic suggests

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Company News

The new LNG contract will start in January 2019, following expiry of Centrica’s existing contract with Qatargas at the end of December 2018. With the decline in North Sea production and the recent growth in global LNG supply, the UK is increasingly becoming an attractive destination for LNG. Centrica Group

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Company News

BP today announced that it has signed a second production sharing contract (PSC) for shale gas exploration, development and production with China National Petroleum Corporation (CNPC). The PSC, signed on 27th July, covers an area of approximately 1,000 square kilometres at Rong Chang Bei in the Sichuan Basin. In March

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Company News

The South Australian Government’s decision to incentivise natural gas development is a positive initiative that should help bring more gas to market and benefit local consumers. APPEA Director South Australia / Northern Territory Matthew Doman said the $24 million incentive scheme announced today was another example of the state government’s

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Company News

Adding another shock to the already volatile market in contradiction of analyst expectations, the American Petroleum Institute (API) is reporting a significant increase today in its weekly U.S. crude inventory report of 2.09 million barrels, following a volatile day of trading. Markets will also be responding to the API’s report of

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LNG Value Chain
Company News

Wärtsilä and Finland based Gasum have signed a joint cooperation agreement aimed at developing the use, distribution, and service solutions for natural gas in marine and onshore applications. The agreement was signed in Helsinki today, 29 August 2016. Wärtsilä provides the gas value chain technology know-how, while Gasum has the

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Company News

The massive 3,500 ton offshore platform is a milestone for Saudi Aramco’s strategy to develop its offshore oil resources and for the IKTVA program. Saudi Aramco’s In-Kingdom Total Value Add Program (IKTVA) continues to go from strength to strength with the announcement of the completion of the largest offshore tie-in

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Oil, Gas & Energy News

Sinopec Fuel Oil Sales Co., Ltd. (“Sinopec Fuel Oil”) and BP announced the establishment of a 50:50 marine fuels joint venture in Singapore on May 19. The JV, BP Sinopec Marine Fuels Pte Ltd. represents an important continuity of the long­standing partnership between Sinopec and BP, which have cooperated in

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