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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

United Kingdom
01-08-2023

Irish Utility Orders 264MW Emergency Gas Plant From GE Vernova
Image credit: GE VernovaIrish utility Electricity Supply Board of Ireland (ESB) has ordered a simple cycle power plant from GE Vernova’s Gas Power business for their facility in Shannonbridge, County Offaly, Ireland.The Shannonbridge Power Plant
Oil Price
01-08-2023

Oil Major BP Posts 70% Drop In Second-Quarter Profit, Raises Dividend by 10%
Oil major BP on Tuesday reported a nearly 70% year-on-year drop in second-quarter profits on the back of weaker fossil fuel prices, echoing a trend observed across the energy industry.The British energy major posted second-quarter underlying replacement c
Oil & Gas Trade
01-08-2023

Shell to Sell More Oil Assets in Nigeria
Shell Plc is reportedly set to resume talks to sell some of its Nigerian oil fields. The oil giant is said to be in negotiations with Eroton Exploration and Production Company Ltd. to offload some of its assets in Nigeria. Shell has been operating in Nige
Oil&Gas Drilling
01-08-2023

Additional Time Secured for BW Offshore FPSO off Nigeria
Italian-headquartered oil and gas giant Eni has handed out yet another short-term contract extension to BW Offshore for one of its floating, production, storage, and offloading (FPSO) vessels, which is working on a field located offshore Nigeria.FPSO Abo;
Oil & Gas Technology
01-08-2023

Top US Utility Group Opposes Emissions Plan For Existing Gas Plants-Source
The top U.S. utility lobby group intends to push back on the Biden administration's proposals requiring upgrades to existing natural gas-fired power plants to curb climate-warming emissions, two sources familiar with the matter said on Monday.Resi
LNG
01-08-2023

India's Petronet Eyes Lower Prices Under Renewed Long-Term Deal With Qatar
India's Petronet LNG NS> hopes to extend its long-term gas import deal with Qatar at lower prices than those offered by the world's top liquefied natural gas (LNG) exporter in recent deals with China and Bangladesh.Indications are that
LNG
31-07-2023

BP Signs Long Term LNG Supply Agreement With Austria's OMV
bp’s LNG will be received and re-gasified through the Gate LNG terminal in Rotterdam. Credit: BP p.l.c.Bp has signed an agreement with Austria’s OMV to supply the latter with LNG for a period of ten years, effective from 2026.Under the
Oil&Gas Drilling
31-07-2023

US Offshore Rig Count Moves up a Step
Baker Hughes’ weekly rig count report shows that the number of offshore rigs in the United States climbed a notch last week while the total number of rigs operating in the U.S. slid down to 664 from 669 units recorded during the week before.Seva
Oil&Gas Drilling
31-07-2023

UK to Grant New North Sea Oil and Gas Licences
© Reuters. FILE PHOTO: Vessels that are used for towing oil rigs in the North Sea are moored up at William Wright docks in Hull, Britain November 2, 2017. REUTERS/Russell Boyce/FBritain will grant hundreds of new oil and gas licences in the North
Oil & Gas Trade
31-07-2023

Egypt Green Lights Oil and Gas Deals Worth $319 Million: Report
Egypt has reportedly green lighted a trio of binding oil and gas agreements in the country, aimed at the drilling of multiple exploration wells, the country’s cabinet said in a statement.The multiple deals include two projects to search for gas
LNG
31-07-2023

CP2 LNG Terminal, US
CP2 LNG export terminal project is being developed in Louisiana, the US, by Venture Global LNG’s subsidiaries, Venture Global CP2 LNG and Venture Global CP Express.The CP2 LNG terminal will have an export capacity of 20 million tonnes per annum
Oil and Gas Equipment
31-07-2023

S. Korea's 1st Indigenous Gas Turbine-Equipped Power Plant Begins Commercial Operations
South Korea has begun commercial operations of a power plant installed with the country's first homegrown gas turbine, its operator said Monday.Korea Western Power (KOWEPO) said it began operating the Gimpo Combined Heat and Power Plant in the cit
Oil&Gas Drilling
31-07-2023

NIDC Digs 36 Oil, Gas Wells in 4 Months
TEHRAN - National Iranian Drilling Company (NIDC) dug and completed the digging operations of 36 oil and gas wells during the first four months of the current Iranian calendar year (March 21-July 22), an official with the company said.According to Masoud
Oil Price
31-07-2023

Kuwait Petroleum Corporation Posts Net Profit of $8.5 Billion in Last Fiscal Year
Kuwait Petroleum Corporation and its subsidiaries posted a net profit of more than 2.6 billion Kuwaiti dinars ($8.48 billion) in the last fiscal year, the highest in 10 years, the KPC's CEO said on Sunday.Chief Executive Nawaf Saud al-Sabah said i
Natural Gas
30-07-2023

Eni’s Profit Cut Nearly in Half but Progress Made on Enlarging Natural Gas Portion of Global Portfolio
Italy’s energy giant Eni has revealed solid performance in the second quarter and the first half of 2023, despite its results being affected by a steep drop in oil and gas prices compared to bumper profits from last year. The oil major made good
LNG
30-07-2023

BP and OMV Ink Long-Term LNG Supply Agreement
UK-headquartered energy major BP and Austria’s integrated oil and gas company OMV have signed a long-term sale and purchase agreement (SPA) for the supply of up to 1 million tonnes of LNG per year.Under the agreement, BP will provide OMV with LN
Oil & Gas Trade
30-07-2023

Sunak Backs New UK Oil and Gas Exploration
LONDON, July 29, 2023 (BSS/AFP) - Prime Minister Rishi Sunak has backed plans to permit new fossil fuel exploration off Britain's coast, as he pledged to be "pragmatic and proportionate" about achieving net zero in an interview published
Oil & Gas Trade
29-07-2023

NPCC Lands $219M Adnoc Offshore Epc Project Contract
National Petroleum Construction Company (NPCC) has announced that it has received a letter of award from Abu Dhabi National Oil Company (Adnoc) Offshore for a contract worth AED805 million ($219 million) to provide engineering, procurement and constructio
Thermal Coal
29-07-2023

Nevada Utility to Convert Last Coal-Fired Plant to Natural Gas
Image by Peter H from PixabayIn the US, Nevada’s largest utility plans to retire its last coal-fired plant by the end of 2025 and convert it to run on natural gas.NV Energy released the details through an amendment to the company’s 202
Oil&Gas Drilling
29-07-2023

National Energy Master Plan For 2021-2030 Approved, Targeting 15-20% Renewables by 2030
It sets a target for total primary energy supply to reach 155 million tonnes of oil equivalent by 2030 and between 294 and 311 million tonnes by 2050. The total national oil and petroleum reserves (including crude oil and products), meanwhile, is expected
Oil & Gas Supply
29-07-2023

Australian State Bans Gas to New Homes From 2024
SYDNEY: The Australian state of Victoria will ban natural gas connections to new homes from next year as part of a plan to cut emissions and lower energy bills, the state climate action minister said on Friday.Australia’s second-most populous st
Oil&Gas Drilling
29-07-2023

US Drillers Cut Oil Rigs for Eighth Month in a Row, Baker Hughes Says
A drilling rig is seen in the Austin Chalk about two hours outside of Houston, Texas, U.S., May 10, 2018. REUTERS/Ernest ScheyderU.S. energy firms in July cut the number of oil rigs for an eighth straight month while adding natural gas rigs for the first
Oil Pipeline
29-07-2023

Venture Global LNG's Calcasieu Pass 2 Project Gets Final U.S. Environmental Nod
Venture Global LNG's proposed Calcasieu Pass 2 (CP2) project in Louisiana on Friday received the U.S. Federal Energy Regulatory Commission's (FERC) environmental approval, clearing the way for a final vote by the commission on expanding th
Hydrogen Production
29-07-2023

RWE Creates Preconditions for Constructing a Hydrogen-Ready Gas-Fired Power Plant in Weisweiler
RWE plans to build hydrogen-ready gas-fired power plants at its own former power plant sites in Germany by 2030 to help achieve the goal of phasing out coal 2030. By awarding the contract to an international consortium, RWE has now laid the foundations fo
LNG
28-07-2023

Nearly 70 Ports Offer Bio-Lng Bunkers
Ships can now bunker bio-LNG at almost seventy ports worldwide, including Singapore, Rotterdam and the US east coast, according to SEA-LNG.A total of 355 LNG-fuelled ships, not counting LNG carriers, are able to use bio-LNG as drop-in fuel without any mod

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