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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

FLNG
08-05-2025

Dutch-UAE Duo Teams up on Perenco’s FLNG Project in Gabon
Technomak, a UAE-based engineering and construction firm, has signed an engineering, procurement, construction, commissioning, and integration (EPCCI) agreement with Dixstone, a Netherlands-based solutions provider and affiliate of Perenco, for a floating
Natural Gas
11-05-2025

Singapore Centralises Power Sector’s Natural Gas Procurement and Supply
Singapore has established Singapore GasCo, a new government-owned entity tasked with centralizing the procurement and supply of natural gas for the city-state’s power sector. The announcement was made by the Energy Market Authority, highlighting
FLNG
08-05-2025

Samsung Heavy’s Deepwater FLNG Design Wins Triple Blessing
Samsung Heavy Industries (SHI), based in South Korea, has secured approvals in principle (AiP) for its multi-purpose LNG floater-offshore (MLF-O) standard model from three classification societies: DNV (Norway), Lloyd’s Register (UK), and the Am
Natural Gas
08-05-2025

Occidental Reports Quarterly Profit Beat on Strong Output, Natural Gas Prices
Occidental Petroleum announced on Wednesday that its first-quarter profit for 2025 exceeded Wall Street expectations, driven by robust production and favorable commodity prices. The company reported an adjusted profit of 87 cents per share for the quarter
Oil Price
08-05-2025

Colombia’s Ecopetrol Plans Cost Cuts as Lower Oil Prices Bite
On Wednesday, Ecopetrol, Colombia’s state-owned oil company, announced plans to reduce costs and expenses by approximately 1 trillion pesos ($232 million) in 2025, according to Chief Executive Ricardo Roa. During a call with analysts, Roa outlin
Crude Oil
07-05-2025

Exxon Plans $1.5 Billion Investment in Nigerian Oilfield
ExxonMobil, a global energy company, plans to invest $1.5 billion in its deepwater operations in Nigeria, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as announced on Wednesday. The investment, scheduled from the second quar
Natural Gas
07-05-2025

Permitting Starts for Netherlands’ Third LNG Terminal
Dutch energy infrastructure company VTTI and Norwegian LNG carrier and floating storage and regasification unit operator Höegh Evi have initiated the permitting process for a new liquefied natural gas (LNG) terminal in the Netherlands. The Zeelan
Crude Oil
07-05-2025

Mexico’s Pemex Increased Crude Shipments to Cuba in 2024, Filing Shows
Mexican state oil company Pemex significantly increased its crude oil exports to Cuba in 2024, boosting shipments by nearly 20%, according to a company filing released this week. The annual report, submitted to the U.S. Securities and Exchange Commission
Crude Oil
07-05-2025

Norway Parliament Orders Restart to Frontier Oil and Gas Exploration Licensing
On Tuesday, the Norwegian parliament directed the Labour minority government to initiate a new licensing round for oil and gas exploration in frontier areas, paving the way for expanded drilling activities. The decision, supported by a majority, aims to b
Oil Field
06-05-2025

BW Energy Greenlights Maromba Field Development, Offshore Brazil
BW Energy has finalized its investment decision for the Maromba field development offshore Brazil, located 100 km off the coast in the Campos Basin. The project, targeting 500 million barrels of oil in the Maastrichtian sands, employs a cost-effective app
Natural Gas
06-05-2025

Totalenergies Breaks Ground on Middle East’s First LNG Bunkering Hub
TotalEnergies, a French energy company, and Oman’s OQ Exploration and Production have begun construction of the Marsa LNG plant at the port of Sohar, Oman. The project, aimed at establishing the Middle East’s first LNG bunkering hub, m
Crude Oil
06-05-2025

With Brazilian Oil Project Approved, BW Energy Sets Sights on Doubling Output by 2028
BW Energy, an Oslo-listed oil and gas exploration and production company, has approved the final investment decision for the Maromba field development in the Campos Basin, located 100 kilometers off Brazil’s coast. The project includes an integr
Coal Production
06-05-2025

House Committee Proposes Changes to Boost US Oil, Coal on Federal Lands
On Tuesday, the House Natural Resources Committee will review proposed changes to U.S. oil and gas drilling programs as part of a budget reconciliation bill. The plan includes scheduling numerous lease sales in the Gulf of Mexico and Alaska to enhance dom
Natural Gas
30-04-2025

Austria’s OMV Expects Gas Production in Neptun Deep Project to Start in 2027
Austrian energy company OMV announced on April 30, 2025, that gas production from the Neptun Deep project in the Black Sea is scheduled to begin in 2027. The project, located offshore Romania, is a joint venture between OMV’s Romanian subsidiary
Natural Gas
30-04-2025

French Firm Wins Work On Qatarenergy’s Giant Gas Field Expansion Project
Larsen & Toubro Limited (L&T), an Indian company, has awarded a detailed engineering design contract to Technip Energies, a French engineering firm, for an offshore compression project commissioned by QatarEnergy LNG, a subsidiary of Qatar&rsq
LNG
30-04-2025

Germany’s Third LNG Terminal Drawing Closer to Startup
A floating storage and regasification unit (FSRU), named Excelsior, has arrived in Wilhelmshaven, Germany, to become part of a liquefied natural gas (LNG) terminal operated by Deutsche Energy Terminal (DET). The FSRU reached its designated island pier in
RNG
30-04-2025

Viridi Energy Brings First Company-Operated RNG Facility Online in Baldwin County, Alabama
Viridi Energy, a prominent renewable natural gas (RNG) platform, has launched operations at its new RNG facility in Summerdale, Alabama, in collaboration with the Solid Waste Disposal Authority of Baldwin County. The facility, located at the Magnolia Land
Oil Refinery
30-04-2025

Mexico’s Olmeca Refinery Will Restart and Halt Was ‘Nothing Serious,’ President Says
Mexico’s Olmeca refinery, located at the port of Dos Bocas, is prepared to resume production following a temporary outage, President Claudia Sheinbaum announced during a press conference. She clarified that the interruption was not due to sabota
Crude Oil
30-04-2025

Petrobras Posts Slight Drop In First-Quarter Oil and Gas Output
Petrobras, Brazil’s state-run oil company, reported its first-quarter production results, achieving a daily output of 2.77 million barrels of oil equivalent (boed) for oil, gas, and gas liquids. This reflects a slight 0.2% decrease compared to t
Crude Oil
29-04-2025

Russia’s Oil Producers Speed up Drilling as OPEC+ Curbs Ease
Russia’s oil industry has significantly increased drilling activities in early 2025, reaching levels not seen in at least five years. This surge aligns with preparations for potential changes in OPEC+ production limits and evolving global market
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

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