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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
30-05-2023

Gas Price Average in San Diego County Rises for 11th Time in 12 Days
Photo by: David Duprey/ASSOCIATED PRESSFILE - Bob Krueger holds up a gasoline pump nozzle for a photo after filling up a tank at his gasoline station in Clarence, N.Y., Monday, March 7, 2011. (AP Photo/David Duprey)By: City News ServicePosted at 7:57 AM,
Oil & Gas Supply
29-05-2023

Aker BP Makes a 40-90 Mboe Oil Discovery in the North Sea off Norway
The Norwegian oil exploration company Aker BP has made a significant oil discovery in the North Sea off Norway, with preliminary estimates indicating a gross recoverable volume of 40 to 90 Mboe. The discovery was made while drilling the Øst Fri
Crude Oil
29-05-2023

Asia’s Crude Imports Jump in May as China, India Suck up Russian Oil: Russell
LAUNCESTON, Australia, May 29 (Reuters) - Asia's imports of crude oil are on track for a strong rebound in May as the region's two biggest buyers, China and India, suck up Russian cargoes.A total of 27.73 million barrels per day (bpd) of c
Oil & Gas Trade
29-05-2023

Saudi Arabia Imports Russian Oil, Sends Its Own Supplies to EU
A report by Bloomberg shows that Saudi Arabia has become Europe's largest oil supplier as Riyadh buys record amounts of Russian crude oil for domestic use.Saudi Arabia has become Europe's largest supplier of crude oil as the country sells
Oil Field
29-05-2023

Aramco to Develop 400 MCF per Day Iraqi Gas Field
Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel-Ghani said.Aramco will invest and develop Akkas gas field in the western Iraqi Anbar province, the I
Oil & Gas Trade
29-05-2023

GECF’s Secretary General Commends UAE for COP28 Leadership, Anticipates Resounding Success
Doha, QATAR – 28 May 2023: The Secretary General of the Gas Exporting Countries Forum (GECF), HE Eng. Mohamed Hamel, held a virtual meeting today with HE Ahmed Mohamed Alkaabi, Assistant Undersecretary for Electricity, Water, and Future Energy a
Natural Gas
29-05-2023

The Increasing Number of Offshore Projects Along With the Rising Production of Shale Gas Globally Will Garner the Requirement for Offshore Drilling Risers
The global offshore drilling riser market was estimated to reach a valuation of USD 3.8 Billion in the year 2022. With a steady CAGR of 2.2% from 2023 to 2033, this market is expected to reach USD 4.1 Billion by 2023 and USD 4.9 Billion by 2033.Two main d
Natural Gas
29-05-2023

Falling Gas Prices Calm Europe After Energy Crisis
Benchmark Dutch futures drop for eight straight weeks to the lowest since May 2021European gas prices could fall even further, below €20 a megawatt hour, if Chinese LNG imports prove weak, according to analysts. BloombergEuropean gas prices have
Oil & Gas Supply
26-05-2023

Energy Minister: ‘We Will Never License Oil and Gas Development in the UK That Isn’t Compatible With Net Zero'
Graham Stuart insists new oil and gas licenses are compatible with UK climate goals, as he argues UK can continue to attract green investment without engaging in 'subsidy race'Energy Security and Net Zero Minister Graham Stuart has today d
Crude Oil
25-05-2023

Russia Ready to Support Gasoline Export Restrictions
Russia's Federal Antimonopoly Service (FAS) is ready to support restrictions on the export of gasoline if such a mechanism is proposed, the Interfax news agency reported citing FAS head Maxim Shaskolsky.Sources told Reuters on Tuesday that the Rus
Oil Field
25-05-2023

ADNOC and TAQA Secure $2.4 Billion Investment for Massive Water Project
The project entails the development of a state-of-the-art seawater treatment facility and a transportation network that will serve the Bab and Bu Hasa fields in Abu Dhabi.ADNOC and TAQA have awarded a strategic investment project worth up to $2.4billion (
LNG
25-05-2023

LNG Demand in South Korea to Remain High Despite Nuclear Power Expansion
The market will continue relying on LNG for primary backup fuel amidst its energy transition.The demand for liquefied natural gas (LNG) in South Korea will continue to be strong despite the government’s stronger push to expand nuclear power, Fit
Crude Oil
24-05-2023

Saudi Oil Minister Warns Market Speculators to ‘Watch Out’ Ahead of OPEC+ Meeting
Saudi Oil Minister Prince Abdulaziz bin Salman on Tuesday told market speculators to watch out, reiterating his warning that they could face pain ahead.Speculators, like in any market, they are there to stay. I keep advising that they will be ouching. The
Natural Gas
23-05-2023

China’s Natural Gas Output up 7% In April
An employee of CNPC checks a gas facility in Tianjin. [Photo/Xinhua]BEIJING -- China's natural gas output registered faster growth in April, data from the National Bureau of Statistics showed.The country produced 18.9 billion cubic meters of natur
Oil & Gas Trade
23-05-2023

Iraq, Russia Commit to OPEC+ Oil Production Cuts
A worker at Iraq’s Majnoon oilfield near the southern Iraqi city of Basra. Photo: ReutersBaghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, and the Russian Minister of Energy, Alexander Novak, confirmed, during a p
Crude Oil
23-05-2023

Shell Buys More Australian Gas
Denison Gas supplying volumes from Queensland operationsShell Energy Asia has signed a gas sales agreement (GSA) to buy additional volumes of conventional and non-conventional gas from Denison Gas for customers in the energy-hungry east coast market.Denis
Oil Field
23-05-2023

NIOC Commences Farzad B Gas Field Development Operations
Sour gas from the Farzad B Gas Field will be transferred to Kangan Petro Refining Company in Bushehr Province to be processed and piped to refineries in the South Pars complex in AsalouyehNIOC Commences Farzad B Gas Field Development Operations.....Operat
LNG
23-05-2023

Oman Enters the World’s Largest LNG Exporter Club
Energy exporter OmanThe Sultanate of Oman, the largest energy exporter outside OPEC, has become one of the leading global exporters of liquefied natural gas (LNG) due to a rising demand for clean energy sources, according to a report by Oman Observers, a
LNG
23-05-2023

Shell, Equinor Inch Towards HGA on Tanzania LNG
Equinor has reported its block holds more than 20 trillion cubic feet, while Shell’s blocks have 15 tcf.Shell and Equinor have taken another step forward in their plans for Tanzania LNG and closing in on a host government agreement (HGA).Shell&a
Oil Exploration
22-05-2023

$1M Seismic Technology Deal for Nigeria O&G Onshore Exploration
Stryde has been awarded a contract worth over $1 million for the supply of 10,000 seismic receiver nodes and its Nimble node receiver system in Nigeria.The seismic sensor technology will be utilised on an upcoming 3D seismic survey conducted by Nigerian g
LNG
22-05-2023

Equinor, Shell and Exxon Agree LNG Project With Tanzania
Equinor, Shell and Exxon Mobil have agreed a deal with the government of Tanzania for the development of a liquefied natural gas (LNG) export terminal in the East African country, the two sides said.The agreement is a milestone for the long-delayed projec
LNG
22-05-2023

Qatarenergy Awards A US$10BN EPC Contract for North Field South LNG Project (Qatar)
Qatar state-owned oil and gas company QatarEnergy has awarded a US$10bn engineering, procurement, and construction (EPC) contract for the North Field South (NFS) project to a consortium of Technip and Consolidated Contractors Company (CCC). The EPC contra
Crude Oil
22-05-2023

Expert Commentary the Role of Natural Gas in Powering Africa’s Future
Abubakar AbbasSenior Energy Forecast AnalystGas Exporting Countries Forum (GECF)Alexander ErmakovEnergy EconometricianGas Exporting Countries Forum (GECF)1 - IntroductionAfrica is projected to experience significant population growth, rising from around 1
Oil & Gas Trade
19-05-2023

SINOPEC, Kazakh Firm Kazmunaygas to Co-develop Polyethylene Project
China Petrochemical Corp, or Sinopec, together with KazMunayGas, a state-owned oil and gas company in Kazakhstan, will develop the biggest polyethylene project in Kazakhstan, the Chinese company said on Thursday.Polyethylene is the most commonly produced
Crude Oil
19-05-2023

Iran, Russia Sign 10 Oil Cooperation Deals
Iran and Russia on Wednesday signed 10 documents for cooperation in the oil industry in the Iranian capital Tehran, according to Shana News Agency affiliated to the Iranian Oil Ministry.The deals were signed following a meeting between Iranian Oil Ministe

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