Subsea 7 awarded contract offshore Egypt

Subsea 7 has announced the award of a sizeable contract by Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of Taurus and Libra fields by BP, offshore Egypt. More »

Statoil reports fatality on COSL rig

Statoil and COSL have received confirmation from the police that one person has died as a result of a breaking wave that hit the COSL Innovator on Wednesday. More »

Cheniere starts producing at shale gas export terminal, ING says

Cheniere Energy Inc. began production at what will become the first terminal to export natural gas from America’s shale formations, according to ING Capital LLC, which helped finance the project. More »

RasGas, Petronet revise LNG contract to lower Indian gas prices

Qatar’s RasGas Co. has reached a new pricing agreement for an existing 25-year contract with Petronet LNG Ltd., India’s biggest gas importer that lowers the price of the fuel by almost half starting Jan. 1. More »

Oil poised for record two-year loss as U.S. stockpiles gain

Oil headed for its biggest two-year loss on record in New York as an expansion in U.S. crude stockpiles exacerbates a global glut. More »

Floods shutting Midwest oil pipeline seen worsening record glut

The worst flooding across the U.S. Midwest in four years has shut some oil pipelines and terminals near St. Louis, potentially swelling a glut of crude and extending this year’s price slide. More »