Europe
OPEC extends oil output cut by nine months to fight glut
VIENNA (Reuters) — OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years.
Shell shareholders reject emissions target proposal
THE HAGUE (Reuters) — Royal Dutch Shell shareholders on Tuesday widely rejected a proposal by an environmental group calling for the oil company to set and publish annual targets to reduce carbon emissions.
DONG Energy to sell oil, gas business to Ineos for $1.3 B
COPENHAGEN (Reuters) — Danish utility and offshore wind farm developer DONG Energy has agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 B, it said on Wednesday, the latest in a string of North Sea deals.
OPEC set to prolong oil cuts as delegates predict smooth meeting
VIENNA (Reuters) — OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude.
WorleyParsons signs framework agreement with Shell for EPCM services
WorleyParsons announces today that it has been awarded a 5-yr Framework Agreement by Shell Global Solutions International, B.V., for the provision of engineering, procurement and construction management (EPCM) services for Shell downstream projects worldwide.
Rosneft cuts oil output with an eye to ramping up again
MOSCOW (Reuters) — Russia's Rosneft is ready to resume full oil output quickly once OPEC-led cuts end as the country's top producer has focused its own cuts on newer fields, its chief executive has said.
Mexico says supports OPEC cuts as way to stabilize oil market
VIENNA (Reuters) — Mexico supports an extension of OPEC's supply cuts as a way to stabilize oil markets and bring fresh investment into the country's growing energy sector, the Mexican deputy secretary for hydrocarbons said on Tuesday.
Iraq says achieved OPEC oil cut share, ready to meet new demand
LONDON (Reuters) — Iraq has achieved its share of the production cut agreement reached by OPEC and non-OPEC producers at the end of last year but remains ready to meet future oil demand growth, according to a speech by Iraqi oil minister Jabar al-Luaibi on Monday.
Carlyle battles insurers in New York over Moroccan oil losses
LONDON (Reuters) — US private equity firm Carlyle Group is suing a group of its insurers over $400 MM worth of oil it claims it lost when Morocco's sole refinery went bankrupt two years ago, court documents show.
Clariant, Huntsman to merge, creating $20-B enterprise
MUTTENZ, Switzerland — Clariant and Huntsman Corporation announced that their Boards of Directors unanimously approved a definitive agreement to combine in a merger of equals through an all-stock transaction.
- Methanex to indefinitely idle 860,000-tpy Trinidad and Tobago methanol plant 6/30
- Several injured in fire at Haldia Petrochemicals' plant in eastern India 6/30
- Shell forecast: Global LNG demand expected to grow by 65% by 2050 6/30
- INEOS Enterprises completes sale of its ultra-pure sulfur dioxide and derivatives business to Ecovyst 6/30
- Neste to invest over €400 MM in Porvoo refinery maintenance turnaround 6/30
- Middle East producers push on with oil and LNG loadings despite ship attacks 6/30
