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ADNOC to launch trading unit for crude, refined products

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25/04/18 – Abu Dhabi National Oil Company (ADNOC) on Monday said it establishing a new trading unit within its marketing, sales and trading directorate to maximise profits from every barrel of crude and refined products. The unit will introduce and manage non-speculative trading to further maximise value from every barrel of crude oil and refined product that is produced and marketed by the company, ADNOC said in a statement. As ADNOC accelerates delivery of its 2030 strategy, the trading unit will capitalize on the size and scale of the company’s crude oil and refined products portfolio, the flexibility within ADNOC’s…

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Libya ‘examining’ $450m Total-Marathon purchase

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24/04/28 – Libya is considering whether to intervene in a $450 million deal that French major Total announced last month to buy Marathon Oil’s stake in the country’s Waha concessions, several sources familiar with the matter told Reuters. Officials were considering a range of options ranging from pushing for better terms – after some in the oil industry and the media said the price was too low – to a counter-offer from the state National Oil Corporation (NOC), the sources said. “The NOC wants to buy the Total part,” one source from the leadership of Libya’s internationally recognised government, the…

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New UK biofuel targets take effect April 15

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24/04/18 – In the U.K., the new Renewable Transport Fuel Obligation came into force on April 15, requiring fuel companies to nearly triple the amount of renewable fuel they supply by 2032, introducing a new incentive for the production of fuels from waste, and bringing in new transportations sectors, such as aviation. The U.K. Renewable Energy Association noted the RTFO supports ethanol and biodiesel, as well as biomethane and renewable hydrogen. According to the U.K. Department for Transport, changes to the RTFO will require owners of transport fuel who supply at least 450,000 liters (118,877 gallons) per year to ensure…

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Air Liquide doubles its biomethane production capacity

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24/04/18 – Since the beginning of 2018, Air Liquide has commissioned three new biomethane production units, in the U.S, France, and the U.K. With these units, Air Liquide has doubled its biomethane production capacity, which now stands at 60 MW, the equivalent of 500 GWh for a full year of production. Over the course of the last four years, the group has decided around EUR 100 million in investments in biomethane production. Today, the Group operates 10 production units around the world, designed to purify biogas in order to transform it into biomethane and inject it into the natural gas…

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U.S., Britain blame Russia for global cyber attack

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17/04/18 – The United States and Britain on Monday accused Russia of launching cyber attacks on computer routers, firewalls and other networking equipment used by government agencies, businesses and critical infrastructure operators around the globe. The United States and Britain on Monday accused Russia of launching cyber attacks on computer routers, firewalls and other networking equipment used by government agencies, businesses and critical infrastructure operators around the globe. Moscow has denied previous accusations that it carried out cyber attacks on the United States and other countries. U.S. intelligence agencies last year accused Russia of interfering in the 2016 election with…

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EBA Statistical Report 2017 just published!

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12/04/18 Biogas Plants The number of biogas plants in Europe has greatly increased. Between 2009 (earliest EBA data) and 2016, the total number of biogas plants rose from 6,227 to 17,662 installations (+11,435 units, see figure below). Growth was particularly strong from 2010 to 2012, reaching double figures every year. Most of that growth derives from the increase in plants running on agricultural substrates: these went from 4,797 units in 2009 to 12,496 installations in 2016 (+7,699 units, 67% of the total increase). Agricultural plants are then followed by biogas plants running on sewage sludge (2,838 plants), landfill waste (1,604…

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Green Apple: Tech giant confirms it is now 100 per cent powered by renewables

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10/04/18 – Apple announces renewables milestone, as company sets out opposition to EPA attempts to scrap Clean Power Plan Apple is now 100 per cent powered by renewables having today confirmed all of its global retail stores, offices, data centres, and co-located facilities across 43 countries are now run entirely on clean electricity. In addition, another nine of the company’s manufacturing partners have committed to ensuring all of their Apple production work is powered by 100 per cent renewable electricity, the tech giant announced. In total, 23 Apple suppliers have now made a renewables commitment. Tim Cook, Apple’s CEO, said…

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Energy demand grows 2.1 pct in 2017 – IEA report

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Global energy demand grew by 2.1 per cent in 2017, according to IEA preliminary estimates, more than twice the growth rate in 2016, with oil and natural gas both seeing growth. Global energy demand in 2017 reached an estimated 14 050 million tonnes of oil equivalent (Mtoe), compared with 10 035 Mtoe in 2000, International Energy Agency said in its new report Global Energy and CO2 Status Report, 2017. Fossil-fuels met over 70 per cent of the growth in energy demand around the world. Natural gas demand increased the most, reaching a record share of 22 per cent in total…

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Kingsnorth Power Station levelled in controlled explosion

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27/03/18 – A power station chimney which was more than twice the height of Big Ben’s tower has been demolished in a controlled explosion. The 656ft chimney at Uniper’s decommissioned Kingsnorth Power Station in Kent, came down today after the demolition was delayed from earlier in the month due to snow. The oil-fired power station was built in 1963. The site was commissioned in the early 1970s and was the only dual-fired power station in the country able to burn oil and coal. It was capable of producing 2000MW of electricity – enough to power more than 1.5 million homes….

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Green gas industry responds to NAO renewable heat report

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27/03/18 Green gas is home-grown and reduces need for expensive natural-gas imports Industry echoes NAO call for govt. to address policy gap by providing long-term support for renewable heat and introducing effective carbon price Report says successor policy to RHI to be announced this year   Responding to a new report from the National Audit Office (NAO) on the cost-effectiveness of the Renewable Heat Incentive (RHI), Charlotte Morton, Chief Executive of the Anaerobic Digestion & Bioresources Association, said: As one of the technologies supported by the RHI, biomethane (or green gas) is currently heating over 300,000 homes and displacing almost 800,000 tonnes of…

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Oil giant to cut 250 Scottish jobs after £5.3bn buyout

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20/03/18 – The decision will affect hundreds of staff and contractors working in Aberdeen. French oil giant Total intends to cut around 250 Scottish jobs after buying a rival for £5.3bn. The decision will affect both staff and contractors working in Aberdeen, where thousands of North Sea jobs have been lost since 2014. Staff were told during a series of meetings last week and Total has said it aims to “minimise redundancies”. A spokesman said: “Following the acquisition of Maersk Oil we have reviewed our operations in Aberdeen and are now consulting with staff on the future size of our…

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Wood awarded big project for Saudi Aramco and SABIC

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12/03/18 – Wood has announced that it had won a contract to develop the world’s largest crude oil to chemicals project for Saudi Aramco and SABIC. Wood has been selected to develop the world’s largest fully integrated crude oil to chemicals (COTC) complex in the Kingdom of Saudi Arabia, on behalf of Saudi Aramco and SABIC as the first PMC contractor. Wood will provide front end engineering design (pre-FEED and FEED) and project management services during the engineering, procurement and construction (EPC) phase, supporting the development of the complex that is expected to process 400,000 barrels per day and approximately…

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Oil and gas production predicted to increase

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05/03/18 – The oil and gas industry regulator has raised its forecast of what can be recovered from the waters around the UK over the next three decades. Changes in the way the sector operates are thought to have unlocked the potential for a further 2.8 billion barrels of oil or the gas equivalent. It is now estimated that 11.7 billion barrels could be recovered between 2016 to 2050. More than 43 billion barrels have been extracted from UK waters so far. Peak production was achieved at the turn of the century. The Oil and Gas Authority’s increased estimate for…

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Global LNG demand surges, says Shell

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01/03/17 – The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. Based on current demand projections, Shell sees potential for a supply shortage developing in mid-2020’s, unless new LNG production project commitments are made soon. Japan remained the world’s largest LNG importer in 2017, while China moved into second place as Chinese imports surged past South Korea’s. Total demand for LNG in China reached 38 million tonnes, a result of continued economic growth and…

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ADNOC awards offshore concession stake to Cepsa for $1.5 bln

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21/02/18 – Abu Dhabi National Oil Company (ADNOC) said Sunday it signed a 40-year concession deal with Spain’s Cepsa worth AED 5.5 billion ($1.5 billion) for a 20 per cent stake in its offshore SARB and Umm Lulu concessions. Capsa’s participation payment also takes into account previous ADNOC investments in the concession area made up of two main fields, in which ADNOC retains a majority 60 per cent stake. The remaining 20 per cent stake in the concession is yet to be announced. Umm Lulu and SARB is one part of the ADMA offshore concession expiring in March, which was…

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Russia’s Novatek and Saudi Aramco to work on gas projects

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21/02/18 – Russian independent natural gas producer Pao Novatek (Novatek) said it signed a preliminary deal with Saudi Aramco for LNG supplies and gas projects. Under the agreement, Novatek will collaborate with Saudi Aramco on natural gas projects, development of LNG markets, gas exploration and production projects as well as research and technology development, the Moscow and London-listed company said. “We see a wide array of exciting and mutually beneficial energy opportunities to cooperate with Saudi Arabia,” said Leonid Mikhelson, NOVATEK’s chairman of management board. “Our company owns one of the world’s largest high-quality, low-cost conventional gas reserve base and…

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Oil market is re-balancing says OPEC at EGYPS

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13/02/18 – OPEC’s secretary general, Mohammed Barkindo said that the oil market was on course to re-balance during his keynote speech at the opening ceremony of the 2nd Egypt Petroleum Show (EGYPS) in Cairo. The OPEC secretary general was one of many top industry players talking during the first day of Egyps’s strategic conference. He said that Egypt is becoming a key regional energy hub, especially in terms of natural gas. “The big gas finds at Zohr and Northern Alexandria will help position Egypt as a global player in the gas sector.” He stated that the market is responding to the…

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Iran plans gas projects worth $3 bln

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06/02/18 – Iran plans to launch gas projects with a total investment worth US$3 billion as the country looks to ease a gas shortage, head of National Iranian Gas Company (NIGGC) said. The projects, valued at 120 billion Iranian rials in total, will focus mainly on construction of pipelines and pressure boosting facilities and the some will be for gas delivery to subscribers across the country, Iran’s Shana news agency reported. Hamid Reza Araghi, managing direction of NIGC said Iran’s current production is 800 million cubic metres of natural gas per day, supply 92 per cent of the domestic population….

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It matters where solar panels are made

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31/01/18 – The oil industry was born in Pennsylvania in 1859, and Americans have played a leading role in it ever since. Even after the U.S. lost its status as the world’s top oil producer in the 1970s, it remained the industry’s main source of equipment and expertise. The lists of the world’s biggest non-state oil and gas producers and top oilfield equipment and services providers are heavy on U.S. companies, and Houston is the closest thing to a global headquarters that the oil and gas industry has. In recent years, U.S. technology and entrepreneurship have even brought a production resurgence that has made this country again the world’s biggest source of petroleum and natural gas hydrocarbons and may soon even catapult it back…

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Nvidia and GE’s Baker Hughes team on AI for oil and gas

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31/01/18 – Nvidia and GE subsidiary Baker Hughes want to bring the power of artificial intelligence to bear on the oil and gas industry – and do so throughout the space, covering everything from locating new oil sources, bringing it up to the surface, refining it for use and even delivering it to the end customer. Baker Hughes is working with Nvidia on making this happen using its range of AI-enabling GPU tech, including both its Nvidia DGX-1 supercomputers, which are large, data center powerhouses, to its DGX Stations for desktop supercomputer capabilities, and even the Nvidia Jetson AI, its…

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Oil and Gas drilling puts Oklahoma’s survival at risk by causing massive earthquakes

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18/01/18 – Injecting saltwater back underground in Oklahoma, a disposal method used after fracking, has been linked to a surge in earthquakes since the oil and gas boom reached the state in 2009. But a study published earlier in January in Geologyreveals that efforts to reduce these dangerous injections have not reduced the most damaging earthquakes. The persistence of high-magnitude earthquakes raises further concerns about fracking and the saltwater injections that have increased because of the surge in oil production. Toxic Ancient Saltwater Nearly all oil wells release saltwater from underground as another product of the recovery process. This water is the…

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Chernobyl Is Being Transformed Into an Immense Renewable Energy Farm

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17/01/18 – When the words “energy” and “Chernobyl” appear together in a sentence, the topic is typically the 1986 nuclear energy disaster that left the Ukrainian city in shambles. Today, the abandoned site of the world’s worst nuclear disaster is no longer just a radioactive pile of rubble. It’s the future home of Ukraine’s first solar plant. Roughly 100 meters (328 feet) away from the immense metal dome Ukraine placed over the Chernobyl nuclear power plant’s failed reactor in 2016, workers have installed about 3,800 solar panels to support a one-megawatt solar power plant. Because the soil is still heavily contaminated in the…

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Nostra Terra Oil and Gas secures US$5mln funding deal

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09/01/18 – “We’re excited to be working with such a strong energy lender as Washington Federal that endorses our plans to grow production, cash flow, and the size of the facility.” Nostra Terra Oil and Gas Company plc (LON:NTOG) shares edged higher on Monday after the company announced that it received approval for a new US$5mln senior lending facility with Washington Federal Bank. It is expected that US$1.2mln will be immediately available once legal paperwork is complete. The facility is supported by the group’s production operations, referred to as its ‘borrowing base’, and the company highlighted that it will be reassessed…

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$8bn North Sea deals lift oil and gas industry

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19/12/17 – THE value of North Sea deals has increased four-fold to $8 billion (£6bn) this year in a sign confidence is returning to the area, industry leaders have said. However, with total spending in the North set to fall next year and exploration activity at record lows the industry will face huge challenges leaving billions of barrels potential production at risk. The surge in mergers and acquisitions activity is highlighted in figures compiled by Oil & Gas UK, which reckons the deals could help fuel recovery from the deep downturn triggered by the crude price plunge. The industry body…

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Oil Price to Rise in 2H18 with OPEC, NOPEC Cut Extension

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04/12/17 – The OPEC and NOPEC agreement to keep current production restraints in place through 2018 will contribute to an oil price increase in the second half of next year, according to Wood Mackenzie. “The stakes were high for OPEC,” Ann-Louise Hittle, Wood Mackenzie vice president of oils research, said in a statement sent to Rigzone. “Despite the success in cutting output and follow-on price recovery, if the agreement had ended in March 2018, our forecast shows there would have been a very large 2.4 million barrels per day year-on-year increase in total world oil supply for 2018,” she added. “That would…

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Ineos expands into North Sea oil and gas exploration

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22/11/17 – Chemicals giant Ineos is making a move into deep water oil and gas exploration in the North Sea. Ineos has bought a majority stake in two exploration licences in areas far to the north of Shetland, thought to have strong prospects for gas reserves. It is the latest deal for the privately-owned group which recently branched out into fashion by acquiring the motorcycle wear brand Belstaff. It also bought Swiss football club Lausanne-Sport earlier this month. The chemicals firm, which was founded by billionaire Jim Ratcliffe, has agreed with Aberdeen-based Siccar Point Energy, to take on two-thirds of…

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Pressure to deliver on North Sea promises

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22/11/17 – Calls have been made for the UK Government to clarify what has happened to the as yet unfilled oil and gas ambassador role, which was pledged almost two years ago. SNP energy spokesman at Westminster Drew Hendry MP has now written to Chancellor Philip Hammond urging him to “come clean” on the scheme ahead of this week’s Budget announcements. He said: “In my letter to the chancellor, I urge him to commit to this in his Budget. Failing that, he should come clean and admit the UK Government are planning to ditch the proposal altogether, in which case…

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The U.S. Is on the Threshold of the Biggest Oil and Gas Boom Ever

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15/11/17 – The U.S. is set to enjoy the biggest increase in oil and gas production the world has ever seen over the next few years, according to a new report out Tuesday. The report from the International Energy Agency (IEA), a Paris-based think tank, is a thumping endorsement for the shale sector’s resilience in the face of a two-year attempt by Saudi Arabia and others to squeeze it. That’s already visible in U.S. government forecasts, which say U.S. crude oil production will rise from an average of 9.2 million barrels a day this year to 9.9 million barrels a day…

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Continuous disruption is ‘new normal’ for oil and gas industry, Baker Hughes CEO says

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14/11/17 – Continuous disruption in the oil and gas industry should be viewed positively, Baker Hughes CEO Lorenzo Simonelli said Tuesday. Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC), Simonelli said, “We have to look at disruption as being our friend.” “The new normal is continuous disruption, we need to take out all the inefficiency and instead our industry needs transparency and visibility,” he said.   The oil industry has been forced to cut costs and search for ways to boost efficiency since the price of oil collapsed from nearly $120 a barrel in June 2014. The sharp drop in…

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Oil And Gas Industry Future Looks ‘Attractive’

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13/11/17 – After two years of declining prices and reduced employment, the oil and gas industry in Texas and across the nation appears to be making a comeback. A recent report by Morgan Stanley stated: “The exploration and production (E&P) outlook is attractive.” “Energy sentiment has improved from two months ago, as the oil supply and demand balance has tightened and revisions turn positive,” the report continued “Expectations for U.S. oil production growth have also been tempered, as the U.S. E&P industry faces execution challenges from tighter services markets and also feels investor pressure for improved capital discipline. “OPEC remains…

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