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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
29-04-2025

Drillers in Canada Shift to Natural Gas as Trade War Drives Down Oil Prices
In Alberta, Canada’s primary energy region, drilling companies are increasingly focusing on natural gas due to declining oil prices driven by global market dynamics and an OPEC+ decision to boost production. According to the Alberta Energy Regul
Crude Oil
29-04-2025

Sinopec’s Quarterly Net Income Falls 28% on Slower Fuel Sales
On Monday, China Petroleum & Chemical Corp, known as Sinopec, reported a 27.6% decline in first-quarter net income compared to the previous year. The company, listed on the Shanghai Stock Exchange, attributed the drop to lower oil prices and challenge
Oil Refinery
29-04-2025

Spanish Oil Refineries Shut Down After Power Blackout
On Monday, a widespread power outage across Spain and Portugal forced several oil refineries to suspend operations, including both plants managed by Moeve, Spain’s second-largest refinery operator. The disruption significantly impacted the energ
LNG
29-04-2025

Woodside Greenlights $17.5 Billion US LNG Project, Targets 2029 Start
Woodside Energy, an Australian energy company listed as WDS.AX, announced its final investment decision for a Liquefied Natural Gas (LNG) project in Louisiana, USA, with a total capital expenditure of approximately $17.5 billion.The logo for Woodside Petr
Oil & Gas Trade
28-04-2025

Vitol Steps up Venezuela Oil Buying Before U.S. License Lapses
Vitol Group, the world’s largest independent oil trader, has increased its oil purchases from Venezuela in April, utilizing a U.S. license set to expire on May 27. The company is loading at least 2.5 million barrels of Venezuelan crude this mont
FLNG
28-04-2025

Wison New Energies Nets Work on Petronas FLNG Set for Suriname
China’s Wison New Energies has finalized the detailed feasibility study for a new floating liquefied natural gas (FLNG) facility to be located offshore Suriname. This project is set to be deployed at the Petronas-operated Block 52, which has bee
Natural Gas
28-04-2025

Ecopetrol Working to Ensure Continuation of Offshore Gas Projects in Carribean
Ecopetrol S.A. has launched a collaborative strategy to secure the future of gas projects in Colombia’s Southern Caribbean after Shell announced its withdrawal from offshore assets in the region. The decision, tied to Shell’s global po
Oil&Gas Drilling
28-04-2025

Russia Oil Drilling at Fastest Pace in 5 Years as Curbs Ease
Russia’s oil producers have intensified drilling activities, reaching levels unseen in at least five years, preparing for potential increases in OPEC+ output limits. The surge, based on January and February data, shows production drilling averag
Crude Oil
28-04-2025

USA Crude Oil Inventories Rise Week on Week
The U.S. Energy Information Administration (EIA) reported on April 23 that U.S. commercial crude oil inventories, excluding the Strategic Petroleum Reserve (SPR), rose by 0.2 million barrels from the week ending April 11 to the week ending April 18. Crude
Oil and Gas Equipment
28-04-2025

CHC, Court Helicopters Partner to Enhance Offshore Safety, Transportation in Namibia
CHC Helicopter (CHC) has signed a Memorandum of Understanding (MoU) with Namibian aviation operator Court Helicopters to explore a strategic partnership focused on search and rescue (SAR) and crew change services in Namibia.The MoU outlines that CHC will
LNG
27-04-2025

PIL’s First 8,200 TEU LNG Dual-Fuel Boxship Named in China
Pacific International Lines (PIL), a Singapore-based shipping company, celebrated the naming of its first 8,200 TEU LNG dual-fuel containership, Kota Oasis, at a ceremony held at the Yangzijiang Shipbuilding yard in China. This vessel marks the first of f
Crude Oil
27-04-2025

US Eases Downhole Commingling Policy to Boost Oil Production
The United States Department of the Interior (DOI) has revised its policy to increase the allowable pressure differential for single-wellbore oil production from multiple reservoirs in the deep waters of the Gulf of Mexico. The change, announced on Thursd
LNG
27-04-2025

Axpo Bolsters LNG Bunkering Business With Operations at Second Spanish Port
Axpo, a Switzerland-based renewable energy producer, recently completed its first ship-to-ship LNG delivery in Spain. The operation took place at the Port of Algeciras, transferring approximately 5,000 cbm of LNG from the 2021-built 7,500 cbm Avenir Aspir
Natural Gas
27-04-2025

Ukraine Needs $2.9 Billion to Buy Gas in 2025, National Bank Says
On April 25, 2025, Ukraine’s National Bank announced that the country requires $2.9 billion to fund gas imports in 2025, following damage to domestic gas production facilities from missile and drone attacks earlier this year. The attacks, which
FLNG
25-04-2025

Logistics Provider Picked for Black & Veatch’s FLNG Newbuild Pair
Black & Veatch, a U.S.-based engineering and construction firm specializing in energy infrastructure, has selected Marinetrans, a Norwegian logistics provider, to manage project logistics for two floating liquefied natural gas (FLNG) vessel constructi
Oil Pipeline
25-04-2025

Morgan Stanley Infra Partners Eyes $2 Billion Permian Pipelines Sale, Sources Say
Morgan Stanley Infrastructure Partners (MSIP) is considering selling its majority stake in Brazos Midstream II, a deal that could value the holding at over $2 billion, including debt, according to three sources familiar with the matter. Brazos Midstream I
Crude Oil
25-04-2025

Guyana’s Q1 Oil Output Rises 3% Yr/Yr to 631,000 Bpd
Guyana’s oil production in March 2025 dropped by about 3% to 627,000 barrels per day (bpd) from the previous month, according to data from the country’s energy ministry. Despite this decline, the first quarter of 2025 achieved an avera
LNG
25-04-2025

Argentina’s YPF Rules Out Building Land-Based LNG Plant, Local Media Reports
Argentina’s state-owned oil company, YPF, has decided against constructing an onshore natural gas liquefaction plant, opting instead to use floating vessels for liquefied natural gas (LNG) production, Marin outlined the company’s strat
Crude Oil
24-04-2025

SINOPEC Launches Training Program for Over 800 Ugandans
SINOPEC, a Chinese company tasked with constructing Uganda’s Central Processing Facility (CPF), launched a training program on Wednesday to enhance the skills of over 800 Ugandans for the nation’s oil industry. The initiative aims to b
LNG
02-05-2025

US Firm Taps Compatriot Tech Player for Louisiana’s New LNG Plant
U.S.-based technology firm Honeywell and Argent LNG have signed an agreement to evaluate the use of Honeywell’s pretreatment solutions at a planned liquefied natural gas (LNG) export terminal in Port Fourchon, Louisiana. The partnership focuses
Crude Oil
24-04-2025

Venezuela Launches Blend 22 Crude Exports Ahead of Us Licenses Expiry
Venezuela will launch exports of a new medium crude blend, Blend 22, this month from its Western fields, aiming to maintain oil revenue as U.S. licenses for its state-owned company, PDVSA, are set to expire on May 27. The strategy involves redirecting shi
Oil Refinery
24-04-2025

California Governor Seeks Help for Struggling Oil Refiners
On April 21, California Governor Gavin Newsom directed state officials to intensify efforts to ensure a stable fuel supply for the state, which has the largest auto market in the U.S. The directive, outlined in a letter to California Energy Commission (CE
Crude Oil
23-04-2025

Contract With Allseas Takes Vallourec to One of World’s Largest Deepwater Fields
French company Vallourec, a provider of tubular solutions, has secured a significant contract with Allseas to supply line pipes for the Búzios 10 offshore project. This initiative is part of the Búzios field, one of the world&rsq
LNG
23-04-2025

JERA, Saibu Gas Collaborate on Use of Expanded Japanese LNG Terminal
On Tuesday, JERA, Japan’s largest liquefied natural gas (LNG) buyer, and Saibu Gas Holdings, a Kyushu-based city gas provider, announced a collaboration to utilize the Hibiki LNG Terminal in Japan. The partnership aims to enhance domestic fuel p
Crude Oil
22-04-2025

MODEC Secures Exxonmobil Contract for Hammerhead FPSO in Guyana
MODEC, a global leader in offshore floating solutions, has secured a contract from ExxonMobil Guyana Limited to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project offshore Guyana. The agreement, issued as a Lim

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