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Wärtsilä supplies 161 MW Flexicycle power plant to Saudi Arabia

June 28, 2016

Wärtsilä has signed a major contract to supply a 161 MW Flexicycle (combined cycle) power plant to Yamama Cement Company in Saudi Arabia. Wärtsilä will deliver a full EPC (Engineering, Procurement & Construction) project. In addition to the EPC contract, a 5-year operation and maintenance management agreement and a 10-year spare parts supply agreement have… Continue Reading »

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Platts China Oil Analytics: China oil demand contracted 1.6% year over year in March

May 12, 2016

China’s apparent oil demand* contracted by 1.6% in March 2016 from a year earlier to 11.11 million barrels per day (b/d), according to a just-released analysis of Chinese government data by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Refinery throughput in March averaged 10.62… Continue Reading »

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China Crude Oil Imports Hit Record 8 MMbopd In February

March 9, 2016

China’s February crude oil imports jumped 20 percent on year to their highest ever on a daily basis, as prices at their lowest in more than a decade drove buying from a group of new importers and state and commercial stockpiling. The world’s second-largest oil consumer imported 31.80 million tonnes of crude last month, or… Continue Reading »

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API Calls Ozone Rule Review Rushed, Potentially Costly

September 1, 2015

The American Petroleum Institute (API) on Monday criticized the Obama administration for its early start of its final review of the U.S. Environmental Protection Agency’s (EPA) proposed rule to reduce the allowable concentration of ozone air pollution. The administration is just now starting the review only one month before a court ordered due date of… Continue Reading »

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Egypt Signs Six New Oil And Gas Exploration Deals

January 12, 2015

Egypt has signed six new oil and gas exploration contracts worth hundreds of millions of dollars with foreign and Egyptian companies, the oil ministry said on Friday. The agreements provide for the drilling of some 41 discovery wells in the western desert and Gulf of Suez, the ministry said in a statement via the official… Continue Reading »

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Gerard: Right Energy Policy Needed to Sustain Growth in Energy

January 8, 2015

Energy is inseparable from America’s economic growth and job creation, but the United States will need to create the right energy policy to encourage production of oil, natural gas, coal and other energy resources, said American Petroleum Institute (API) President and CEO Jack Gerard during a speech discussing details of API’s 2015 State of American… Continue Reading »

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Kemp: OPEC’s Other Problem: Weak Demand

November 28, 2014

By now, everyone is aware of the serious threat rising shale output from the United States poses to OPEC. But sluggish demand growth in response to the quadrupling of prices between 2002 and 2012 is at least as a big a challenge for the cartel. Consumption in the developed economies peaked at 50 million barrels… Continue Reading »

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Gazprom, Petrovietnam Discuss Oil and Gas Cooperation

November 23, 2014

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Nguyen Xuan Son, Chairman of the PetroVietnam Oil and Gas Group (PVN) Board of Directors. The parties addressed the future cooperation in the oil and gas sector. In particular, they touched upon the joint actions offshore Vietnam as well as within gas… Continue Reading »

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Gunmen Storm Libya’s El Sharara Oilfield, Shut Down Production

November 8, 2014

Gunmen seized Libya’s major El Sharara oilfield, looting equipment and shooting as frightened workers sought shelter, oil sources said on Wednesday, in another blow to the country’s oil industry which has been subjected to protests and militia blockades. It was unclear exactly what happened at the field, which at maximum capacity produces about 340,000 barrels… Continue Reading »

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