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Wärtsilä LNG reliquefaction retrofit contract reduces costs & emissions

*Vessel Energos Grand © Energos Infrastructure Lagos — Technology group Wärtsilä will supply the reliquefaction system for a retrofit project on an LNG carrier vessel converted to operate as a floating storage unit (FSU). The […]

Oil prices fall on stronger dollar, demand fears

*An aerial view shows tugboats helping a crude oil tanker to berth at an oil terminal, off Waidiao Island in Zhoushan, Zhejiang province, China July 18, 2022. cnsphoto via REUTERS Tokyo — Oil prices settled […]

Enel appoints Cattaneo as CEO, sets chairman powers

*Enel office Milan — The board of Italy’s biggest listed company Enel on Friday appointed Flavio Cattaneo as CEO and General Manager, handing him all powers for the management of the power utility. On Wednesday […]

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Ghana’s official creditors pave way for IMF sign-off on $3 bn loan

*The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas Accra — Ghana’s official sector creditors have formed a committee co-chaired by China and France […]

Oil prices head for fourth weekly drop as demand fears weigh

*An aerial view shows tugboats helping a crude oil tanker to berth at an oil terminal, off Waidiao Island in Zhoushan, Zhejiang province, China July 18, 2022. cnsphoto via REUTERS Tokyo — Oil prices slipped […]

OPEC holds global oil demand view steady

*OPEC oil demand – Cites US debt ceiling risks– Chinese oil demand growth increased to 800,000 bpd– OPEC output falls by 191,000 bpd in April– Says non-OPEC supply investment still below 2014 high– OPEC+ meets […]

‘Suspend petrol subsidy removal until refineries are fixed’

*Petrol dispenser nozzle. Mkpoikana Udoma Port Harcourt — The Independent Petroleum Marketers Association of Nigeria has urged the federal government to suspend the planned removal of subsidy on premium motor spirit by the end of […]

UAE’s Jaber urges methane emissions phase-out by 2030

*Sultan al-Jaber Abu Dhabi — The United Arab Emirates’ COP28 president designate Sultan al-Jaber said on Wednesday the oil and gas industry should phase out its methane emissions by 2030 and that investment in technology […]

Shell wins UK Supreme Court case on 2011 oil spill off Nigerian coast

*Crude oil spill offshore Nigeria London — The UK Supreme Court ruled on Wednesday that it was too late for Nigerian claimants to sue two Shell (SHEL.L) subsidiaries over a 2011 offshore oil spill they […]

Lower oil prices send Saudi oil giant Aramco’s first quarter profit down 19%

Dubai — Saudi oil giant Aramco’s first quarter net profit dropped 19% from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices. Profit still beat analysts’ median […]