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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
29-01-2023

Italy’s Eni Signs $8 Billion Libya Gas Deal as PM Meloni Visits Tripoli
Eni Chief Executive Claudio Descalzi and National Oil Corporation (NOC) head Farhat Bengdara attend the signing of an agreement between the two companies as Italian Prime Minister Giorgia Meloni and head of Libya's Government of National Unity Abd
LNG
28-01-2023

GTT Receives New Tank Design Orders for Two LNG Carriers
Chinese shipyard Dalian Shipbuilding Industry & Co (DSIC) has ordered the tank design of two liquefied natural gas carriers (LNGC) from French LNG containment specialist GTT.The order, received at the beginning of 2023, came on behalf of the company C
Oil Field
28-01-2023

Tullow Updates Performance of TEN and Jubilee Fields Over 2022
In its recent operational update, Tullow Oil reports that production from both the Jubilee and TEN fields realized over 97% operational efficiency and provided plans for the 2023 program.JubileeThe Jubilee field averaged 83.6 kbopd (31.9 kbopd net) in 202
Natural Gas
28-01-2023

US Issues Licence to Trinidad to Develop a Venezuelan Offshore Gas Field
The US Treasury Department has granted a licence to Trinidad and Tobago to develop the 350 mcf/d (3.6 bcm/year) Dragon natural gas field, located in Venezuelan territorial waters. Trinidad and Tobago, which applied for the licence in mid-2022, will now be
Natural Gas
24-01-2023

Snam Will Invest €10BN by 2026 to Boost Italy’s Gas Infrastructure
The Italian gas grid operator Snam has unveiled its 2022-2026 strategic plan, in which it plans to boost Italy's role in Europe’s gas system with new investments amounting to €10bn in the next four years, a 23% increase compared
Africa Energy
24-01-2023

Cameroon Plans to Halve Fuel Subsidies
The Cameroonian government plans to halve fuel subsidies in 2023. Indeed, the authorities are expected to allocate for the subsidies in 2023 only half of the XAF700bn (US$1.2bn) budgeted for 2022. Consequently, pump prices are expected to rise. However, t
Oil & Gas Trade
24-01-2023

Colombia Will Not Issue New Oil and Gas Exploration Contracts
The Colombian Ministry of Mines has announced that Colombia would not issue new oil and gas exploration contracts, and will now rely on tourism and green energy to fill the gap. The announcement, presented as a signal of Colombia’s commitment to
Natural Gas
24-01-2023

Sonatrach Eni: Sign Two Strategic Agreements on Increasing Natural Gas Supply and Reducing Emissions
Toufic Hokkar, president and CEO of Sonatrach Group, and Claudio Descalzi, general manager of Eni, signed two strategic memorandums of intent in Algiers on Monday, which will define future joint projects and carbon neutrality related to energy supply and
Natural Gas
23-01-2023

Turkmenistan Resumes Gas Supplies to Uzbekistan
TASHKENT, Jan 23 (Reuters) - Turkmenistan resumed gas supplies to Uzbekistan on Jan. 21 and their volume is gradually rising, Uzbek pipeline operator Uztransgaz said on Monday.The Central Asian nation reported supply disruptions on Jan. 17, saying Turkmen
Oil Price
23-01-2023

Oil Prices Retreat in Thin Trade, but China Outlook Offers Support
Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. Picture taken August 22, 2019. REUTERS/Stringer/File PhotoJan 23 (Reuters) - Oil prices drifted lower in early trade on Monday, thinned by the Lunar
Crude Oil
23-01-2023

Russian Seaborne Crude Exports Rebound to Two-Month High in January, Report Says
A ship in the Baltic Sea on the natural gas pipeline Nord Stream 2 from Russia to Germany. An EU and G7 price cap on Russian oil has aimed to reduce Moscow’s energy revenue over the Ukraine war. APRussian seaborne crude exports rebounded in Janu
Oil&Gas Drilling
23-01-2023

Oman’s State Energy Company OQ Plans to List Drilling Unit Abraj in Muscat
Oman’s state energy company OQ plans to sell up to 49 per cent stake in its drilling unit, Abraj Energy Services, through an initial public offering, becoming the latest oil and gas drilling company in the GCC to seek a listing amid higher energ
Natural Gas
21-01-2023

Arktika Nuclear Icebreaker Escorted Vladimir Voronin Gas Carrier Through Difficult Parts of Northern Sea Route.
The lead universal nuclear icebreaker, the Arktika, took the Vladimir Voronin gas carrier under escort in the eastern part of the Laptev Sea, north of the New Siberian Islands, on January 6. The lead universal nuclear-powered icebreaker, the Arktika compl
Oil Exploration
19-01-2023

All-Systems-Go for Equinor to Deploy Shelf Drilling Rig at North Sea Oil & Gas Field
Norwegian state-owned energy giant Equinor has received consent from the country’s offshore safety regulator to use one of Shelf Drilling’s jack-up rigs for drilling activities at a field in the North Sea off Norway.The Petroleum Safet
Carbon capture
19-01-2023

Adnoc Starts Work on New Carbon Capture Storage Project
Adnoc said the project marks another step in its plan to reduce its carbon intensity by 25 per cent by 2030. Photo: AdnocAdnoc has begun work on a project to inject captured carbon dioxide into a saline aquifer, a formation of porous rocks which contain b
Oil & Gas Trade
19-01-2023

Global Oil Demand Will Surge to Record This Year as China Reopens, Iea Says
A drilling platform at Norway's giant offshore Johan Sverdrup field.Global oil demand will surge to a record this year following the end of coronavirus restrictions in China, the world’s second-largest economy and leading crude importer,
Oil & Gas Trade
19-01-2023

Oil Giant Aramco Says Windfall Taxes ‘Not Helpful’ and Could Stifle Decarbonization
KEY POINTSPolicymakers in a number of countries are calling for windfall taxes on major oil and gas companies, many of which saw record profits in the last year.The debate surrounding the oil industry has been dominated by tensions between the need for en
Oil&Gas Drilling
18-01-2023

UK Firm Chosen to Drill Well Offshore Isle of Man
Isle of Man-based Crogga Limited has awarded Aberdeen-based energy services company THREE60 Energy with a contract to drill an appraisal well this year in the Crogga gas field in the Irish Sea.The 112/25a-2 appraisal well, called Independence, will be use
Oil & Gas Trade
18-01-2023

OPEC Stands by 2023 Oil Demand Forecast Amid Improving Outlook in China
Opec says it is holding to its forecast demand for crude this year despite forces arraying against it. ReutersOpec stuck to its global oil demand forecast for this year, despite an improving economic outlook in top crude importer China.The group still exp
Oil Exploration
17-01-2023

Totalenergies to Invest $1 Billion in Oil Development Offshore Brazil
(WO) — TotalEnergies has approved the final investment decision of the Lapa South-West oil development in the Santos Basin, 300 km off the coast of Brazil.offshore oil development equipmentThis development represents an investment of approximately $1 bill
Natural Gas
17-01-2023

Enagás Buys Stake in UK-Netherlands Subsea Gas Pipeline Operator
Spanish energy company Enagás has reached an agreement with Germany’s Uniper to acquire a 20% stake in the Dutch BBL Company, an owner of a 235-kilometre subsea gas interconnection between the Netherlands and the UK.Enagás
Qatar
17-01-2023

Russian Gas Will Eventually Return to Europe as Nations ‘Forgive and Forget,’ Qatari Energy Minister Says
On Friday, Russian energy supplier Gazprom said it would not resume its supply of natural gas to Germany through the key Nord Stream 1 pipeline, blaming a malfunctioning turbine.The European Union’s rejection of Russian energy commodities follow
Energy Security
16-01-2023

Quick Fix Completed at Gas Pipeline Incident Site in Lithuania
Lithuania’s gas pipeline operator Amber Grid has completed remedial work on the gas trunk line that caught fire on Friday afternoon, with images of flames reaching about 50 metres in height, posted online by local residents, initially sparking s
Crude Oil
16-01-2023

Keppel Offshore & Marine Former Senior Managers Escape Prosecution for Bribery Scandal
Six former senior officials of Singapore’s Keppel Offshore & Marine have escaped prosecution on corruption charges relating to Brazil’s Operation Car Wash bribery scandal and instead been given stern warnings by Singapore&rsquo
Oil&Gas Drilling
16-01-2023

New Year Sees Rousing Start to Offshore Drilling Market
NEW YORK CITY – Offshore drilling contractors have had a great start to 2023, as they have kicked off the new year with 26 rig contracts (17 jackups, 9 floaters) for 38 rig years of work (30 jackups, 8 floaters).According to Evercore ISI&rsq

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