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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
16-06-2023

BW Energy Starts Production From Second Hibiscus / Ruche Well
BW Energy announced that production has safely started from second well of the Hibiscus / Ruche Phase 1 development in the Dussafu license offshore Gabon. Production performance from the well has been in line with expectations and is currently stabilized
LNG
16-06-2023

Totalenergies Buys $219M Stake in US LNG Developer
TotalEnergies will buy a 17.5% stake in US liquefied natural gas developer NextDecade for $219 million, the French group said on Wednesday, part of a broader deal to enable the Texas company's Rio Grande LNG export project to proceed.NextDecade sa
Crude Oil
16-06-2023

Oil Futures up 3PC on Strong China Refinery Data
HOUSTON: Oil prices gained about 3 % to a one-week high on Thursday as the US dollar weakened and data showed a jump in refinery runs in top crude importer China.Brent futures rose $2.07, or 2.8%, to $75.27 a barrel by 1:00 p.m. EDT (1700 GMT), while US W
LNG
15-06-2023

Pakistan, Azerbaijan to Ink Lng Import Agreement
Pakistan and Azerbaijan will sign an agreement today on supplies of liquified natural gas (LNG), a source familiar with the matter told Trend.Pakistani Cabinet's Economic Coordination Committee (ECC) granted approval to a framework agreement betwe
Crude Oil
15-06-2023

Russia’s Revenue From Oil Export Increases by USD 1.7 Billion
A view of a petrol station of the Russian oil producer Gazprom Neft and high-rise residential buildings under construction in Moscow on January 12, 2023. (Photo | AFP)Sanctions on Russian oil by Western countries have failed to make any dent in its oil ex
LNG
15-06-2023

World’s Largest Fsru Receives First Lng Ahead of Hong Kong Lng Terminal Launch
MOL FSRU Challenger, also known as the world’s largest floating storage and regasification unit (FSRU), has received the first LNG as part of a commissioning process for Hong Kong’s first offshore LNG terminal.Courtesy of MOLThe FSRU&a
LNG
15-06-2023

First LNG Project in Western Pacific Goes Offline as Black Smoke Billows Out
An investigation has been launched after black smoke and flaring were seen coming from the liquefied natural gas (LNG) plant in Brunei Darussalam, which is considered to be the first in the Western Pacific.Brunei LNG; Source: Mitsubishi CorporationAccordi
LNG Carrier
15-06-2023

WinGD Powering Lng-Hybrid Vessels
The new car carriers for NYK will feature emissions reduction technology, energy management and digital optimization solutions from WinGD. (Image: WinGD)NYK Line said the configuration will be 40% more energy efficientSwiss marine power company WinGD is s
Oil & Gas Supply
15-06-2023

Growth in Global Oil Demand Is Set to Slow Significantly by 2028
New IEA medium-term report sees oil use for transport going into decline after 2026, but overall consumption is expected to be supported by strong petrochemicals demand.Growth in the world’s demand for oil is set to slow almost to a halt in the
Oil&Gas Drilling
14-06-2023

Totalenergies Announces Oil, Gas Discovery Offshore Nigeria
TotalEnergies announced Tuesday the discovery of Ntokon oil and gas on OML102 offshore Nigeria.The company, in a statement published on its website, said the well is located in shallow waters, 60 km off the southeast coast of Nigeria.It said the Ntokon-1A
Gas Turbine
14-06-2023

Russia Says Construction of Gas Hub in Türkiye Can Help Solve Global Energy Crisis
Russian Foreign Minister Sergey Lavrov says food crisis can be resolved through grain exports to poorest countries under Black Sea Grain InitiativeRussian Foreign Minister Sergey Lavrov said on Tuesday that the construction of a gas hub in Türkiy
Oil Price
14-06-2023

China Cut the Retail Prices of Gasoline and Diesel From Wednesday, the 6th Cut This Year
China cut the retail prices of gasoline and diesel, effective today, Wednesday, 14 June 2023.This is the sixth cut (so far) this yearGasoline and diesel prices will be reduced by 55 yuan (about 7.69 U.S. dollars) per tonne and 50 yuan per tonneChina&#
Oil & Gas Supply
14-06-2023

UK Enriches Its Gas Arsenal as Another North Sea Well Comes Online
UK-headquartered IOG plc has brought on stream another well, as part of the Saturn Banks Project – Phase 1 in the Southern North Sea, boosting the UK energy market’s domestic gas supply.Blythe platform; Source: IOGThe Blythe H2 well, w
Crude Oil
13-06-2023

As Profit From Renewables Dwindle, Shell Returns to Crude Oil
Shell will keep oil output steady or slightly higher into 2030 as part of the Chief Executive Officer, Wael Sawan’s, efforts to regain investor confidence as the energy giant wrestles with poor returns from renewables while oil and gas profits c
Crude Oil
13-06-2023

UNSC: Russia Resumed Refined Oil Exports to N. Korea in December
Photo : YONHAP NewsRussia officially resumed oil product exports to North Korea in December of last year after a hiatus of over two years.According to the UN Security Council(UNSC) website on Tuesday, Russia provided a cumulative total of 67-thousand-300
Oil Price
12-06-2023

US to Add More Than Six Million Barrels of Oil to Reserves to Address Supply Disruptions
The Bryan Mound Strategic Petroleum Reserve facility at Freeport, Texas. The US Department of Energy says the reserve system has a 'long history of protecting the economy and American livelihoods in times of emergency oil shortages'. Reute
LNG Carrier
12-06-2023

Spanish Government Greenlights El Musel Lng Terminal Start-up
El Musel LNG terminal in Gijón has received administrative authorization for its start-up from the Spanish Ministry for the Ecological Transition and the Demographic Challenge.Courtesy of EnagásAccording to the Spanish energy company
Oil&Gas Drilling
12-06-2023

Oil Posts Second Weekly Decline as Demand Concerns Overshadow Saudi Cut
BENGALURU: Oil prices fell more than a dollar a barrel on Friday to record a second straight weekly decline, as disappointing Chinese data added to doubts about demand growth after Saudi Arabia’s weekend decision to cut output.Brent crude future
Oil Exploration
12-06-2023

Pennsylvania Expects $400 Million in Infrastructure Funds to Begin Plugging Thousands of Abandoned Oil Wells
One scientist studying toxic emissions from the wells called the amount “woefully inadequate” in a state where officials say there are probably 250,000 such abandoned drill sites that need remediation.
LNG
09-06-2023

LX International Enters LNG Terminal Business
South Korean commodity trading and mining company LX International has announced it will partner with POSCO International to build LNG storage tanks and facilities in Dangjin, Chungcheongnam-do, and enter the LNG terminal business to lease and operate the
LNG Carrier
09-06-2023

Fratelli Cosulich Forms Lng Bunkering Partnership With Titan
Italian maritime transportation group Fratelli Cosulich has started a collaboration with low and zero-emission fuels supplier Titan as it seeks to strengthen its position in the European LNG bunkering market.LNG bunkering vessel Alice Cosulich. Courtesy o
Crude Oil
08-06-2023

Crude Oil Prices Impacted by Weak Data From China
China’s trade balance came down to $65.81 billion in May against $90.21 billion in June. May’s trade balance numbers were below the market expectations.Crude oil prices traded lower on Wednesday morning following weak data from China,
Oil Field
08-06-2023

Canada’s Irving Oil Starts Strategic Review That Includes Possible Sale
Irving Oil, owner of Canada's largest refinery, is launching a strategic review that includes the option of a full or partial sale, the privately-held company said on Wednesday.The New Brunswick-based company owns the 320,000 barrel per day (bpd)
Natural Gas
07-06-2023

Future Developments in Midstream Natural Gas Investment: Focus on Asia Pacific
Gas Exporting Countries Forum (GECF)Galia FazeliyanovaEnergy Economics AnalystAt a Glance§ Continuing underinvestment or investment 'gap' in natural gas supply is one of the key drivers of the ongoing global energy crisis. It is t
United Kingdom
06-06-2023

Harbour Energy’s Viking CCS Project Aims to Transform the Humber into UK’s Leading CCS Hub
Carbon Capture and Storage (CCS) can play a major role in achieving net zero across the UK and the world. CCS is necessary to capture and store the carbon dioxide that would otherwise be released into the atmosphere through power generation, or industrial

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