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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
05-01-2023

Gazprom JV Sues Linde Over Stalled LNG Project
A court in St. Petersburg has frozen the Russian assets of industrial gases and engineering giant Linde, which is being sued by a Gazprom joint venture over a stalled gas-processing and LNG project at Ust-Luga on Russia's Baltic Sea Coast.In recen
Oil Exploration
05-01-2023

First Oil Flows Into Jack-up Rig After It Gets New Lease on Life as Mopu
India’s government-owned company Oil & Natural Gas Corporation (ONGC) has welcomed the first oil flowing into a jack-up rig, which was recently converted into a mobile offshore production unit (MOPU).ONGC disclosed on Tuesday that the 1973-b
LNG
04-01-2023

Buhari Promises Fuel Delivery Assistance to Burundi Amid Fuel Scarcity in Nigeria
President Muhammadu Buhari promised fuel delivery assistance to Burundi on Tuesday, January 3rd, 2023.According to a statement made available by the Special Adviser to the President on media, Femi Adesina, President Buhari made the promise when he receive
Oil & Gas Trade
04-01-2023

FPSO Gets More Time With Eni Off Nigeria
While firming up a deal for a further extension, BW Offshore has secured a short-term contract extension with Eni for one of its floating, production, storage and offloading (FPSO) vessels, which will continue carrying out operations on a field located of
Crude Oil
04-01-2023

Energy outlook: Oil making a comeback in 2023, says WoodMac
With the global energy crisis still running the show, Wood Mackenzie, an energy intelligence group, has outlined ten predictions for the energy industry in 2023, which point to a rebounding oil demand and surging EV sales, along with some other forecasts
Oil Price
04-01-2023

Oil Swings on First Trading Day of 2023 Amid Demand Concerns and IMF Recession Warning
Fund's managing director says the global economy faces 'a tough year, tougher than the year we leave behind'IMF chief Kristalina Georgieva repeated an earlier warning that a third of the global economy will be in recession this yea
Natural Gas
04-01-2023

U.S. Oil & Gas President Says Group Production Boost Will Keep Gas Prices Steady, Defying Biden
Rather than work to boost domestic production, President Joe Biden opted to repeatedly release millions of barrels of oil from the Strategic Petroleum Reserve to keep prices down.US Oil & Gas Association President Tim Stewart said that the industry&am
Oil & Gas Trade
03-01-2023

Bintai Kinden Expands Further into O&G
Company's 51%-owned sub-subsidiary, Bintai Energy, awarded RM4.0 million subcontracts by Petro Flanges & Fittings and received licenses from Petronas to supply products and services to O&G businessesPETALING JAYA, Malaysia, Jan 3, 2023 - (
Natural Gas
03-01-2023

Eastern Kazakh Natural-Gas Supply To China Halted
Workers walk near oil pumps at the Uzen oil and gas field in the Mangistau region of Kazakhstan. (file photo)Officials in an eastern Kazakh region say gas exports to China from the area's only natural-gas producing facility were halted on January
Crude Oil
03-01-2023

Venezuela Loads Crude Under Eased Sanctions
Venezuela started loading 250,000 bl of Boscan heavy crude in Bajo Grande, Zulia state, this weekend for export to the US under eased sanctions that allow Chevron to expand its trade.This would be the first such US-bound crude export in four years since s
Oil&Gas Drilling
03-01-2023

Breathing New Life Into Oil Rigs
While it is expected that a day will come for the offshore oil and gas infrastructure to be retired at the end of active service life, does this have to be the end for these giant beasts of the sea? This year, many eyes have been opened to the idea that t
Oil & Gas Trade
03-01-2023

What Will the New Year Bring to the Oil & Gas Industry?
The year, which is now behind us, was marked by a global energy crisis and price volatility, putting the energy trilemma into stark relief. However, 2023 is still uncharted territory, which can be used to shape new developments in the oil and gas industry
Oil & Gas Supply
02-01-2023

Fuel Station Demolished, Barge Set Ablaze Over Link With Oil Theft
A petrol Filling station in Opete, Udu local government area, Delta state and a barge has been destroyed over their alleged link with illegal bunkering activities.The petrol Filling station was demolished before security operatives, representatives of the
Oil Price
01-01-2023

Oil Prices End 2022 Higher Despite Demand Concerns
A surprise rise in US crude stocks is weighing on futuresA trader at the New York Stock Exchange. Brent, which hit a 14-year high of $140 a barrel in March, has since lost most of its gains. ReutersOil prices ended the week higher on Friday, rallying on t
Oil Price
01-01-2023

UAE petrol and Diesel Prices to Fall in January
Motorists across the Emirates will pay less at the pumpsPetrol prices in the UAE for January have been announced. Pawan Singh / The NationalThe cost of petrol across the UAE will fall in January, it has been announced.Earlier this year, prices reached the
Oil Pipeline
01-01-2023

Former Petrobras Official To Lead Brazil’s State Run Oil Company
President-elect Lula da Silva names Jean Paul Prates to head the company amid renewables pushBrazil's president-elect Lula da Silva, announced that senator Jean Paul Prates is his candidate for chairman of Petrobras. AFPPresident-elect Luiz Inacio
Oil & Gas Supply
30-12-2022

Global Oil Demand Could See Surprise Surge in 2023, Says Top Hedge-Fund Trader
But electric-vehicle adoption may stand in way to full return to trend, says Pierre AndurandGlobal demand for crude oil could see a bigger surge than traders and analysts have penciled in for 2023 as China fully reopens its economy and the world puts the
Natural Gas
30-12-2022

You need to be visible to get an energy sector job in 2023 – Experts
Nigeria’s energy sector is vast, with many job vacancies across the renewable energy and hydrocarbon (oil and gas) sectors.People working in the sector know that even in the face of abysmal financial performance, there will always be positions t
Oil & Gas Trade
30-12-2022

Aramco Refining Unit Luberef Begins Trading on Tadawul After $1.32BN IPO
Company's listing is Saudi Arabia's third-largest IPO this year after Americana and Nahdi MedicalThe Tadawul All Share Index, the Arab world's largest stock market, has bucked the global slowdown of initial public offerings this ye
Oil & Gas Trade
30-12-2022

Exxon Sues EU in Move to Block New Windfall Tax on Oil Companies
Record profits by oil companies benefiting from high energy prices have boosted inflation around the worldExxon said it will factor in the tax as it considers future multibillion-euro investments in Europe’s energy supply and transition.US oil c
Oil Price
30-12-2022

Oil Prices Drop as China’s Surging COVID-19 Cases Raise Demand Concerns
Countries are imposing travel restrictions on the world's largest crude importerPump jacks in Argentina. The outlook remains highly uncertain for oil markets, an Oanda analyst said. ReutersOil prices fell for a third straight day on Thursday as ri
Natural Gas
30-12-2022

Oman to Set Up Integrated Company to Manage Natural Gas Assets
Move is expected to improve the Gulf country's economic indicatorsOman, the largest non-Opec producer in the Middle East, expects to post a budget deficit in 2023. CorbisOman plans to establish an integrated gas company to manage all natural gas a
Oil Price
29-12-2022

Moscow Restrains Response to G7 Price Cap
A long-awaited decree signed by President Vladimir Putin this week prohibiting Russian oil exports to countries working under the G7 price cap was perceived as anticlimactic, and even an announcement last week of a possible decline in 2023 production fail
Oil Refinery
29-12-2022

Sanctions to Choke Russian Refining Sector
The outgoing year was a wild ride for Russia’s downstream, which pulled off a remarkable rebound after a dizzying, postwar decline.2023 promises even more turbulence once the EU’s Feb. 5 import ban on refining products goes into effect
Oil&Gas Drilling
29-12-2022

Somalia Rejects Genel Energy’s “Illegal Claim” to Oil Permits
NAIROBI, Dec 28 (Reuters) - Somalia rejected on Wednesday what it called an "illegal claim" by Genel Energy (GENL.L) to oil exploration and exploitation rights in the country's northern breakaway region of Somaliland, the country'

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