“These transactions will contribute to the necessary rationalization of the global drilling rig fleet and they are further in line with Maersk Drilling’s strategic priority of maintaining a fleet of modern, high-quality assets,” said CEO Jørn Madsen of Maersk Drilling. SourceContinue Reading

The deal rounds out an accelerated asset-sale program that has helped Sasol reduce borrowings that ballooned amid cost overruns at a giant U.S. chemicals project and call off a proposed $2 billion share sale. SourceContinue Reading

The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for...Continue Reading

State-controlled National Iranian Oil Co. has been priming oil fields — and customer relationships — so it can increase exports if an accord with the U.S. is clinched. But even if a deal is struck, the flow of additional crude into the market may be gradual. SourceContinue Reading

The Environmental Protection Agency ordered the shutdown of a U.S. Virgin Island refinery that historically was positioned as a key fuel source for the East Coast due to public health concerns. SourceContinue Reading

Iran’s Petropars Ltd. will be awarded a $1.78 billion contract by the National Iranian Oil Co. to develop the giant Farzad-B gas field that was previously intended to be tapped by a group of Indian companies. SourceContinue Reading

Russia Is Making A Mad Dash To Outrun Peak Oil Demand | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Premium Content By Irina Slav – May 16, 2021, 6:00 PM CDT Several of the world’s largest oil-producing nations...Continue Reading