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...

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...

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...

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...