Oil

Indonesia Plans New Policies, Build FPSO

The Indonesian government plans to implement a number of policies to maintain and attract the interest of upstream investors in the country, as a result of weaker response from its 2015 oil and gas bidding round.

Last year’s auction indicated that Indonesia became less attractive for investors, with many showing interest in exploring in other countries such as Vietnam, according to […]

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Oil Market Deja Vu Triggers Predictions of a Return to $30

Oil’s climb above $45 a barrel is reassuring influential figures from BP Plc to the International Energy Agency that the industry is finally recovering from the worst slump in a generation. Others say the market is about to fall into the same trap as last year.

There’s a sense of deja vu at Commerzbank AG, BNP Paribas SA and UBS Group […]

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Oil Crash Not a Repeat of 1985: University of Calgary Report

Thirty years ago, shoulder pads were all the rage, Molly Ringwald was a rising teen movie star and low oil prices were wreaking economic havoc.

At least one of those will feel familiar to those working in the oil and gas industry these days.

There’s been talk of the current oil rout being a repeat of the price crash that began in […]

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Norfolk-Based Offshore Oil and Gas Expands into Aberdeen

IVB (Inspection Verification Bureau), which provides inspection and verification services to the oil, gas and renewable energy sectors, has invested in staffed offices in Europe’s oil and gas capital to meet existing and new clients’ needs.

The move is already paying off with new relationships being forged for contracts to start in the New Year.

Director Derek Lockwood said the company’s profitability […]

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Saudi Minister Says Asia Will Drive Oil Demand

Oil demand will soon reflect the “attractiveness” of the current level of crude prices, and Asia will be a vital engine of economic expansion for decades, Saudi Oil Minister Ali al-Naimi said. OPEC’s chief joined him in seeing Asia as the main hub for growth.

Oil demand in Asia will rise by about 16 million barrels a day to almost 46 million […]

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OPEC Infighting Reaching Critical Levels

Shell provided an update on its pending merger with BG Group (LON: BG). Following its dreadful quarterly earnings report, Shell provided another defense of its BG purchase, which it says will provide greater savings than previously expected. The tie up will be profitable even if oil prices range in the mid $60s per barrel, Shell argues. It will also create […]

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