World

coronavirus

The coronavirus epidemic in China has triggered restrictions in the country’s public transport and air travel, both at a domestic and an international level, reducing demand for oil, which has lost about a fifth of its value since the start of the year, according to a latest report by Norwegian energy intelligence firm Rystad Energy. …

Wärtsilä

Wärtsilä and DNV GL have signed a Memorandum of Understanding (MoU) in which they agree to work together to contribute to the marine industry’s ongoing digital transformation. In particular, the two companies wish to further explore the potential use of digital technologies, collaborative data sharing, and standardization to enhance existing products and services, and to …

LNG

Two of Europe’s biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that’s gripping global commodities markets. Shell and Total didn’t accept the legal grounds for the move by CNOOC that would have freed it from its contractual obligations to take delivery of the …

China

A grim situation for U.S. natural gas exporters has gotten even worse as the coronavirus outbreak sends global prices plunging on concern that China’s demand for the fuel will collapse. Suppliers of American liquefied natural gas were already under pressure from depressed prices arising from a global glut and an unusually mild domestic winter. Now, …

Dubai

Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates aim to push the country to energy self sufficiency. The Jebel Ali reservoir located between the two emirates has 80 Tcf of gas resources, according to tweets by Sheikh …

Zenith Norway

Canadian oil and gas company Zenith Energy has established a fully owned Norwegian subsidiary, Zenith Norway.  Zenith said on Thursday it intends to use Zenith Norway as a vehicle for intended participation in future licensing bids to be organized by the Norwegian Ministry of Petroleum and Energy, as well as to actively pursue the potential …