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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Supply
07-08-2023

Ukraine Will Not Renew the Contract for the Transit of Russian Gas to the EU After 2024.
Ukraine has warned Austria that it does not plan to extend the gas transit contract, DW economic expert Andriy Gurkov said. He notes that the Ukrainian route mainly serves Austria, with some small gas volumes that ship to Hungary and Italy. Therefore, the
LNG
06-08-2023

McDermott Officially Starts Construction of Woodfibre LNG Project
Construction of the Woodfibre LNG, a project being developed by Pacific Energy and Enbridge, has officially begun as Qingdao McDermott Wuchuan (QMW) fabrication yard, a joint venture of McDermott and China State Shipbuilding Corporation (CSSC), started bu
Renewable Energy
06-08-2023

Clean Energy Vessels Propel Yangzijiang Shipbuilding’s Soaring Orderbook to $14.70 Bln
In the midst of a thriving shipbuilding upcycle fueled by the global decarbonization drive, Singapore-listed shipbuilder Yangzijiang Shipbuilding has secured a staggering $5.76 billion worth of orders for 72 vessels in the first half of 2023.The strong de
LNG
06-08-2023

TGEMarine Wraps up Gas Trial on Vlgc Gas Neptune
German provider of engineering services for the design and supply of gas carriers TGE Marine Gas Engineering has completed gas trial onboard very large gas carrier (VLGC) Gas Neptune.As explained, the milestone marks the completion and delivery of Wideshi
Oil and Gas Equipment
05-08-2023

Project to Repurpose Natural Gas Pipelines to Hydrogen Gets Green Light From Ofgem
Hydrogen project progresses to next stage following successful tests on pipeline between Grangemouth and Granton in ScotlandApproval by regulator Ofgem represents key milestone for this first-of-its-kind hydrogen projectMore testing including the first ev
Oil Price
05-08-2023

Azerbaijani Oil Price Exceeds $90
Baku, August 5, AZERTACThe Azerbaijani oil price has increased in the world markets.The price of a barrel of Azeri Light crude oil rose $1.21 to trade at $90.11.
Coal Production
05-08-2023

Turkey Approves New Coal Mining to Feed Power Plants
Police used water cannon and teargas against local people and environmental activists who protested against the destruction of the Akbelen forest in Turkey’s western province of Muğla, July 29, 2023. © 2023 Mert Can Bük&uum
Oil&Gas Drilling
05-08-2023

Canada-Based Trillion Energy to Explore Oil in Southeastern Türkiye
Canada-based energy company Trillion Energy has announced that it has entered into a farm-in agreement with Derkim Poliüretan Sanayi to earn a 50 percent working and revenue interest in three oil exploration blocks within the Cudi-Gabar petroleum
Oil&Gas Drilling
05-08-2023

UK Businesses Punished by £3.5bn Energy Surcharge, Labour Says
Starmer North SeaBritish industry has paid a £3.5bn premium on its energy costs under the Conservatives, Labour has claimed, weeks after Sir Keir Starmer said he would ban new oil and gas exploration in the North Sea.UK companies are paying 62pc
Oil and Gas Equipment
05-08-2023

Totalenergies Reports Pump Leak, Unit Shutdown at Texas Oil Refinery
TotalEnergies Petrochemicals & Refining USA reported a leaky pump at its oil refinery in Port Arthur, Texas, which it said forced it to shut down a unit."A pump located in unit 825 developed a leak that reached the reportable quantity of un-speci
Oil and Gas Equipment
05-08-2023

Nigeria's Tinubu Hails Significant New Gas-Fired Power Plant
Nigeria's President Bola Tinubu looks on after his swearing-in ceremony in Abuja, Nigeria May 29, 2023. REUTERS/Temilade Adelaja/File PhotoNigeria began construction of a 1,350 megawatt gas-fired power plant near its capital Abuja on Friday, the f
LNG
04-08-2023

Construction of LNG Canada Pipeline, Coastal Gaslink, in Full Swing
Coastal GasLink, the 670-kilometre pipeline that will transport natural gas to the approved LNG Canada facility near Kitimat, is nearly 92% complete, according to the latest construction update.Courtesy of Coastal GasLinkSummer construction season is in f
LNG
04-08-2023

Air Products Secures Work on Nextdecade's Rio Grande LNG Project
Industrial gases company Air Products has signed agreements to supply its proprietary LNG process technology and equipment to Rio Grande LNG Phase 1 Project being developed by NextDecade in Brownsville, Texas.Illustration; Archive; Courtesy of NextDecadeA
LNG
04-08-2023

HD KSOE to Build LNG Carrier Pair Under $530 Million Deal
South Korean shipbuilding major HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has clinched an order to construct two liquified natural gas (LNG) carriers.Image courtesy of Hyundai Heavy IndustriesAccording to the company’s stock exc
LNG
04-08-2023

Mexico Pacific and Conocophillips Conclude Long-Term LNG Deal
Mexico Pacific, a developer of the LNG export project in Puerto Libertad, Sonora, has signed long-term LNG sales and purchase agreements with the U.S. energy giant ConocoPhillips.Archive; Illustration only; Courtesy of Mexico PacificUnder the agreement, C
Oil Price
04-08-2023

Brazil's Petrobras Beats Profit Forecast, $3 Bln Payout Announced
Brazil's state-run oil company Petrobras logo is pictured at its building in Rio de Janeiro, Brazil July 17, 2023. REUTERS/Ricardo MoraesSAO PAULO, Aug 3 (Reuters) - Brazilian national oil company Petrobras (PETR4.SA) posted a nearly 36% drop in i
LNG
03-08-2023

Modules Construction Starts for $5.1 Billion Canadian LNG Project
Qingdao McDermott Wuchuan Offshore Engineering (QMW), the joint venture between US contractor McDermott and China State Shipbuilding Corporation, has started construction of the modules for Pacific Energy’s US$5.1 billion Woodfibre liquefied nat
Oil Exploration
03-08-2023

Totalenergies' $27BN Bet on Iraq Boosts Ailing Oil Industry
Pouyanne at the signing ceremony for the dealTotalEnergies’ signing of a long-stalled $27 billion deal to develop several energy-related projects in Iraq is a significant vote of confidence in the country’s fraught oil and gas industry
LNG
03-08-2023

Hydrogen Oman Will Be Size of Slovakia
Oman's hydrogen sector can benefit from existing LNG infrastructureIf Oman was to fully utilise its land for renewable hydrogen production, it would have 50,000 sq km, or a little bigger than the size of Slovakia, to make use of.This amount of lan
Oil & Gas Trade
03-08-2023

Nakilat Achieves $212.8m Net Profit in H1
Nakilat, one of the world’s largest liquefied natural gas (LNG) fleet operators, achieved a net profit of QAR775 million ($212.85 million) for the first half of the year ending June 30, 2023. This represents an increase of 6.1% compared to the s
LNG
02-08-2023

Himalaya Shipping Sees First LNG Bunkering of Its Newbuild Ships
Bermuda-based bulk carrier company Himalaya Shipping has commenced LNG bunkering of two of its newbuild ships, Mount Norefjell and Mount Matterhorn.Mount Norefjell. Courtesy of Himalaya ShippingThe company announced on 2 August that the two ships were bun
Oil & Gas Supply
02-08-2023

President Ilham Aliyev: Azerbaijan Became Important Gas Supplier to Europe
It's already for more than two years Azerbaijan became an important gas supplier to Europe, said President Ilham Aliyev as he was interviewed by Euronews TV channel.Noting that the situation with sanctions on Russia created a new dimension, the Az
LNG
02-08-2023

Japan's Mitsui Signs Spas for Russian Arctic LNG 2 Equity Liftings
Japan's Mitsui has signed sales and purchase agreements with customers for its equity lifting volumes from the Arctic LNG 2 project in northern Russia ahead of the first train starting up later this year, a company spokesperson told S&P Global
Oil&Gas Drilling
02-08-2023

Major Boost for Muzarabani Gas Project
Zimbabwe and Algeria yesterday signed a Memorandum Of Understanding (MoU) in hydrocarbons which is a shot in the arm for the country's natural gas and oil exploration activities following the confirmation of large reserves in the north-eastern par
Oil and Gas Equipment
01-08-2023

Signing Contracts for US $49.3m, Pis (Pertamina) Now Sails Across 26 International Routes
DUBAI, July 31, 2023 - (ACN Newswire) - PT Pertamina International Shipping (PIS), through its branch office in Dubai, PIS Middle East (PIS ME), has achieved another success by simultaneously signing four business cooperation agreements with global player

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