Trump Administration Plans to End Methane Curbs That Oil Companies Want to Keep

By Jennifer A. Dlouhy - (Bloomberg) --The Trump administration is readying a plan to end direct federal regulation of methane leaks from oil and gas facilities, even as some energy companies insist they don’t want the relief. A draft proposal from the Environmental Protection Agency would prevent the federal government from directly targeting that potent greenhouse gas as it … [Read more...]

Exxon Eyes Exit Eyes Exit from UK North Sea After 50 Years -Reuters

By Ron Bousso LONDON, Aug 13 (Reuters) - Exxon Mobil is considering a sale of its assets in the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects. The world's largest publicly traded energy company has held talks with a number of North Sea operators in recent weeks to gauge interest in some or all of … [Read more...]

Oil Falls on Rising Trade War Tensions

By Kiran Dhillon (Bloomberg) --The international oil benchmark closed below $60 dollars a barrel for the first time in almost two months as worsening U.S.-China trade relations intensified fears about the health of the global economy, prompting investors across financial markets to flee risky assets. Futures fell 3.4% to settle at $59.81 in London on Monday. China, hitting … [Read more...]

Singapore Rig Builder Sembcorp Marine Posts Q2 Loss, Flags Worsening Market in Second Half

SINGAPORE (Reuters) - Singaporean rig builder Sembcorp Marine on Tuesday posted a narrower second-quarter loss, but said it expected losses for the second half of the year to be higher than the first half, citing insufficient new orders. The company reported a net loss of S$8.5 million ($6.2 million) for the second quarter, compared with a loss of S$55.6 million a year ago. … [Read more...]

Insolvent Bourbon Requests Reorganization Proceedings

French offshore services company Bourbon has requested for reorganization proceedings of approximately 900 million euros in liabilities after a Chinese leasing company activated payment guarantes from the company. The request for reorganization follows demands from Chinese company ICBC Leasing that Bourbon pay all outstanding rental payment guarantees up to 2026, as per its … [Read more...]