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Oil & Gas

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

Oil&Gas Drilling
13-02-2023

BP Conducts New Drilling Operation in Azerbaijan for First Time
In 2022, bp spent about $470m in operating expenditure and $1.6bn in capital expenditure on ACG activities, Azernews reports, citing a bp press release.During the year, the Azeri Central East (ACE) platform topsides and drilling facilities fabrication act
Oil Price
13-02-2023

Producers See Oil Rebound to $100 a Barrel
A view shows the Yan Dun Jiao 1 bulk carrier in the Vostochny container port in the shore of Nakhodka Bay near the port city of Nakhodka, Russia. — ReutersLONDON: Oil may resume its rally in 2023 as Chinese demand recovers after Covid curbs were scrapped
Oil Price
13-02-2023

Russia proposes caps on oil export discounts -draft law
Image used for illustrative purpose only. A view shows a local oil refinery in Omsk, Russia June 6, 2022. Picture taken June 6, 2022. REUTERS/Alexey Malgavko Image for illustrative purposeUnder the draft proposal, the discount on dated Brent oil will be l
Oil Exploration
13-02-2023

Egypt Plans 3 Tenders for Oil and Gas Exploration, Production in 2023 -Minister
Flames rise from an oil refinery in Cairo, May 6, 2008. Image used for illustrative purpose.Reuters Images/Nasser NuriEgypt plans to offer three international tenders for oil and gas exploration and productionCAIRO - Egypt plans to offer three internation
Oil Price
13-02-2023

Oil Prices Rise Over 2% On Russian Plan to Cut Output
Doha: Oil prices rose more than 2 percent on Friday as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s crude and fuel. Brent crude futures rose $1.89 to $86.39 a barrel. U.S. WTI crud
LNG
13-02-2023

Seaside LNG Becomes Largest Owner of LNG Barges in US
Seaside LNG has acquired the liquefied natural gas fueling barge Clean Jacksonville from TOTE Maritime Puerto Rico, LLC, a subsidiary of TOTE Group.Seaside now has the largest fleet of LNG barges operating in the United States, the company claims.Seaside
Oil Pipeline
10-02-2023

USA EIA Reveals Latest Gasoline and Diesel Price Forecasts
The U.S. Energy Information Administration (EIA) has revealed its latest gasoline and diesel price forecasts for 2023 and 2024 in its February short term energy outlook (STEO).The EIA now expects the retail gasoline price to average $3.39 per gallon in 20
Market Analysis
10-02-2023

North America Dominates the Global Shale Oil Market by Producing 50% Of the Total Market for Shale Oil; Learn About Market Drivers & Restraints.
The current market is growing at a moderate pace by registering a healthy CAGR during the foreseen time. The rising consumption of shale oil and growing end-use industries, including the petrochemical sector, are accelerating the demand for shale oil duri
Oil and Gas Equipment
10-02-2023

Petrogas Picks Umbilicals Provider for North Sea Gas Fields
JDR, part of TFKable Group, has secured a contract from Petrogas E&P Netherlands for the supply of two umbilicals for offshore conventional gas fields in the Netherlands.The A15 and B10 fields are located in quads A and B, in a shallow water depth of
Oil Price
10-02-2023

Oil Prices Steady as Build-up in Us Crude Stocks Eases Supply Fears
Workers on an oil drilling rig in Stanton, Texas. US crude stocks increased by 2.4 million barrels last week, the US Energy Information Administration said. AFPOil prices were steady in morning trade on Thursday, as a large increase in US crude stocks off
Oil & Gas Trade
09-02-2023

Dana Gas Reports 53% Rise in 2022 Adjusted Net Profit on Higher Oil Prices
The Khor Mor gas complex, operated by Crescent and Dana Gas, in the Kurdistan Region of Iraq. Photo: Crescent PetroleumDana Gas, one of the largest private natural gas companies in the Middle East, reported a 53 per cent annual rise in adjusted net profit
Oil & Gas Trade
08-02-2023

What Would War-End Mean for Global Oil and Gas?
The end of the war in Ukraine would reduce pressure on Western governments to continue expanding sanctions on Russia’s oil and gas sector.That’s according to Matthew Bey, a Senior Global Analyst at risk intelligence company RANE, who o
Oil & Gas Trade
08-02-2023

India Will Buy Oil From ‘Wherever We Have to’ if Terms Are Beneficial, Energy Minister Says
India will secure oil from anywhere as long as the terms are beneficial, India’s energy minister told CNBC.India is the third largest oil consumer in the world, and according to Hardeep Singh Puri, accounts for 30% of global consumption.Today we
Oil & Gas Trade
08-02-2023

BP Posts Record Profit and Raises Dividend on Oil Price Boost
Fuel prices at a BP filling station in Liverpool. BP will invest up to $1 billion a year in 'high quality' oil and gas projects. PAOil company BP has posted a record profit of $28 billion for 2022 on higher energy prices and raised its div
Oil & Gas Trade
08-02-2023

Turkey’s Ceyhan Oil Port Disrupted by Weather as Earthquake Damage Assessed
Adverse weather conditions are obstructing loading operations at Turkey’s Ceyhan port, where the impact of Monday’s immense twin earthquakes is still being assessed, according to oil traders and shipping sources.Operations were interru
Oil Price
08-02-2023

Oil Prices Steady Amid Prospects of Fuel Demand Rebound in China
Global oil demand is set to surge to record levels this year as China's economy recovers. GettyOil prices were steady in morning trade on Monday as the prospects of a rebound in fuel demand in China offset concerns about a recession.Brent, the ben
Oil Price
08-02-2023

Oil Prices Rise Amid Signs of Tightening Demand
Traders at the New York Stock Exchange. Analysts expect the price cap on Russian refined product exports to have a bigger impact on global crude flows than the price cap on its crude. GettyOil prices rose in morning trade on Tuesday amid signs that China&
Oil Pipeline
07-02-2023

Ajaokuta-Kaduna-Kano (AKK) gas pipeline in Nigeria
Developed by the Nigerian National Petroleum Corporation (NNPC), the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project entails the construction of a 614km-long natural gas pipeline from the Ajaokuta terminal gas station (TGS) in the Kogi state in the southe
Oil & Gas Supply
06-02-2023

Gas Supply Secured for Peak Power Demand: Rk Singh
Fuel supply for gas-based power plants has been secured for the anticipated peak demand, Power Minister RK Singh said on Sunday. If needed, section 11 of the Electricity Act, may be invoked in 15-20 days, Singh told ET in an interview on the sidelines of
Oil & Gas Trade
06-02-2023

Energy Workforce & Technology Council: Oilfield Services Employment Highest Since March 2020
(WO) — Employment in the U.S. oilfield services and equipment sector rose by an estimated 3,069 jobs to 652,090 in January, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to December numbers and analysis by the E
Natural Gas
04-02-2023

Russia’s Natural Gas Production Fell by More Than 13% In 2022
Russia’s natural gas production fell by more than 13% in 2022, according to preliminary data published by the Russian state statistics service Rosstat. Associated petroleum gas production in 2022 also decreased (-2%). However, LNG production gre
Oil & Gas Trade
04-02-2023

Shell and Conocophillips More Than Doubled Their Earnings in 2022
The British oil and gas company Shell has released its 2022 results, posting a US$40bn profit for the year, a more than twofold increase compared to its 2021 earnings (US$19bn). Shell’s previous profit record was in 2008 (US$31bn). Shell&rsq
United States
03-02-2023

FMI's Analyst Views on the rising oil recovery market and its Technological Trends | Future Market Insights Inc.
Enhanced oil recovery market share is anticipated to rise due to the growing adoption of enhanced oil recovery by the oil & gas sector during the forecast period. The key manufacturers are adding new technologies to improve the efficiency of enhanced
Nord Stream
03-02-2023

United States Involved in Nord Stream Explosions: Russian FM
TEHRAN, Feb. 02 (MNA) – Russian Foreign Minister Sergei Lavrov on Thursday said the United States was directly involved in explosions that severely damaged the Nord Stream gas pipelines under the Baltic Sea last year.Russian President Vladimir P
Crude Oil
02-02-2023

OPEC+ Agrees to Stick to Oil Output Targets Amid Improving China Outlook
Opec's headquarters in Vienna. APThe Opec+ alliance of 23 oil-producing countries has agreed to roll over its existing oil output cuts as the fuel demand outlook in China — the world’s second-largest economy and top crude importer — impr

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