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1 month ago | 
worldenergynews.com | Erwin Seba |Joseph Keefe
Talks to end the largest U.S. refinery strike in 35 years are not expected to resume this week, sources familiar with the negotiations said on Monday after the number of plants hit by walkouts increased over the weekend. Face-to-face meetings between the United Steelworkers union (USW) and lead refinery owner representative Shell Oil Co, the U.S. arm of Royal Dutch Shell Plc (RYDAF), might remain on hold until the second week of March, the sources said.
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1 month ago | 
worldenergynews.com | Nerijus Adomaitis |Joseph Keefe
Lithuania's Litgas has signed a natural gas transit deal with Latvian grid operator Latvijas Gaze to ensure shipments to Estonia, the company said on Friday. Litgas has a contract with Norway's Statoil (STO) to buy 500 million cubic metres (mcm) of gas per year via an LNG import terminal which opened in Lithuania last year. "Our transit agreement is an important step towards a common and liberalised natural gas market in the Baltic countries," said Dominykas Tuckus, general manager of Litgas.
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1 month ago | 
worldenergynews.com | Tanvi Mehta |Joseph Keefe
Specialty chemical manufacturer W.R. Grace & Co said it would split into two companies to improve strategic focus, simplify operating structures and make better use of capital. The company, which emerged from one of the longest U.S. bankruptcies in 2013, said on Thursday that the split would take place as a tax-free transaction to shareholders. W. R.
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1 month ago | 
worldenergynews.com | Pavel Polityuk |Joseph Keefe
Ukraine has suspended supplies of gas to its eastern regions because the gas network was damaged by fighting between pro-Russian separatists and government forces, Ukrainian state gas firm Naftogaz said on Thursday. "Due to the extensive damage of the gas transport networks, the supply of gas ... was suspended on Feb. 18. The resumption of gas supplies is not yet possible because of the ongoing hostilities in the region," the company said in a statement.
Reporting by Pavel Polityuk
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1 month ago | 
worldenergynews.com | Jeb Blount |Marta Nogueira |Joseph Keefe
Brazil's state-run oil company Petrobras is likely to take a corruption-related charge against earnings in its 2014 fourth-quarter audited financial statement expected by the end of April, a source with direct knowledge of the company's plans told Reuters on Wednesday. On Tuesday, the board of Petroleo Brasileiro SA, as Petrobras is formally known, declined to take a corruption-related writedown investors had expected as part of its delayed unaudited third-quarter financial statements.
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1 month ago | 
worldenergynews.com | Katya Golubkova |Pavel Polityuk |Denis Pinchuk |Joseph Keefe
Ukraine has cut Russian gas imports and Gazprom cannot afford to lose Ukraine. Ukraine has a stronger hand to play at talks with Russia on gas supplies thanks to the fall in oil prices, which has dragged down gas prices, and after showing it can live on less. Neither side wants to give way at talks on a new supply deal that are expected to start soon -- but both need each other. Russia, in financial crisis, needs the Ukraine market and the revenue it sends to the budget.
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1 month ago | 
worldenergynews.com | Yantoultra Ngui |Joseph Keefe
Yinson Holdings Bhd , Malaysia's oil and gas services firm, said on Wednesday it secured a $2.54 billion floating production, storage and offloading (FPSO) vessel charter contract for oil and gas support operations in Ghana. Yinson said it won the contract, for a firm charter period of 15 years with 5-yearly extension options exercisable by the clients, from Italy-based oil and gas group Eni SpA (E)'s unit in Ghana, according to a local stock exchange filing.
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1 month ago | 
worldenergynews.com | Anupam Chatterjee |Kevin Jose |Joseph Keefe
Tesoro Corp said it resumed work at its 166,000-barrel-per-day refinery in Martinez, California. The facility is currently idle and operating as a terminal for customer supplies. Tesoro had previously announced a plan to shut the plant while workers represented by the United Steelworkers were on strike. "They have resumed the Turnaround (TAR) work and are making plans for the safe restart of the facility," Tesoro said on its labor information website.
Reporting by Anupam Chatterjee and Kevin Jose
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1 month ago | 
worldenergynews.com | Oleg Vukmanovic |Joseph Keefe
Yemen on Friday lifted force majeure on liquefied natural gas (LNGLF) (LNG) deliveries from its Balhaf plant, trading sources with knowledge of the matter said. Reuters reported last week that the 6.7-million-tonne-per-year gas export terminal, operated by France's Total, had declared force majeure due to deteriorating security following the collapse of the government. Force majeure is a clause in contracts that allows buyers or sellers to renege on commitments due to events beyond their control.
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1 month ago | 
worldenergynews.com | Wilda Asmarini |Joseph Keefe
UK-listed energy giant BP has decided to relinquish two exploration blocks to Indonesia, after a survey of the blocks found them to be high risk, the company said on Friday. "Following the result of the 3D seismic evaluation, earlier this quarter we have made the decision to relinquish both West Aru I and West Aru II blocks," BP Indonesia head of country Dharmawan Samsu told Reuters via email.
