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Statoil awards contract to Palfinger Dreggen

Statoil has awarded PALFINGER DREGGEN the contract for complete rebuilding and upgrading of six BOP cranes for the Gullfaks field.

Amec Foster to support development of Sonatrach’s refineries in Algeria

Amec Foster Wheeler has received a contract from Algerian energy company Sonatrach to support the development three new refineries located in Biskra, Tiaret and Hassi Messaoud in Algeria.

KBR-SOCAR joint venture to support $1bn Baku oil refinery upgrade project

KBR and State Oil Company of Azerbaijan (SOCAR) joint venture has received a project management consultancy (PMC) contract for modernization of the Heydar Aliyev Baku oil refinery in Azerbaijan.

U.S. lawmakers seek independent review of coal cleanup subsidy

WASHINGTON, March 8 (Reuters) - Federal auditors should examine a program that has allowed leading coal companies to lower cleanup insurance costs and could leave taxpayers on the hook if the miners declare bankruptcy, Democratic lawmakers said on Tuesday.

UPDATE 2-Noble Group seeks $2.5 bln in borrowing base facility - sources

March 8 (Reuters) - Global energy firm Noble Group is in the market with a $2.5 billion, one-year borrowing base revolving credit facility that will refinance existing debt due later this year, banking sources told Thomson Reuters LPC.

CANADA STOCKS-TSX down, ends 8 days of gains; lower commods drag resource stocks

TORONTO, March 8 (Reuters) - Canada's main stock index broke an eight session winning streak on Tuesday as lower commodity prices and weak Chinese data weighed on resource stocks, but financials and defensive stocks rose and the index still held near three-month highs.

Eyeing oil price rise, Chevron to boost Permian rig count

NEW YORK, March 8 (Reuters) - Chevron Corp will add two drilling rigs to the oil-rich Permian shale of West Texas in 2016, part of a bet that crude prices will rise this year from near 10-year lows.

Venezuela and China consider 'adjustments' to financing accord: oil min

CARACAS, March 8 (Reuters) - Venezuela and China are considering "adjustments" to a multibillion-dollar financing agreement under which the South American nation borrows money and repays in shipments of oil and fuel, Venezuela's Oil Minister said on Tuesday.<

RPT-UPDATE 11-Oil down 3 pct; rally snaps on supply worry, Goldman caution

NEW YORK, March 8 (Reuters) - Oil prices fell 3 percent on Tuesday, ending six days of gains for benchmark Brent crude, as Goldman Sachs suggested the rally was unsustainable and industry data showed U.S. stockpiles reached record highs again last week.

UPDATE 2-Bankruptcy court ruling stings operators of energy pipelines

March 8 (Reuters) - Sabine Oil & Gas Corp won an important court ruling on Tuesday that will allow the bankrupt energy producer to shed certain pipeline contracts, potentially exposing companies that transport and process gas to the crisis in the energy industry.

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