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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

OPEC
13-05-2022

OPEC+ Misses Production Target by Whopping 2.7 Million Bpd
All 13 members of OPEC saw their production rise by just 153,000 barrels per day.
Crude Oil
12-05-2022

China's Shenghong Resumes Crude Buying Ahead of Refinery Commissioning
China's private refining complex Shenghong Petrochemical has resumed crude oil purchases ahead of the commissioning of its new refinery, sources with knowledge of the matter told S&P Global Commodity Insights on May 11.
Natural Gas
12-05-2022

Mozambique’s First Offshore Natural Gas Extraction Project is Underway
Sarens has announced its involvement in a natural gas extraction project in Mozambique which, once inaugurated in mid-2022, will be one of the largest in the world.
Energy Transition
11-05-2022

Insurance Giant Allianz Sets Oil and Gas Exit Strategy
The world’s fifth-largest insurance company, Allianz, is withdrawing coverage and investment dollars from a wide swath of fossil fuel projects as of next year.
Oil Field
11-05-2022

Norway’s Equinor Sells Shares in Two North Sea Fields for over $1 Billion
Norwegian state-owned giant Equinor and its compatriot Sval Energi have entered into an agreement for the sale of Equinor’s non-operated share in two North Sea fields.
Crude Oil
11-05-2022

Opec to Attend Iraq Energy Forum in June
Opec said it will participate in the sixth Iraq Energy Forum in Baghdad from June 18-20.
Oil Price
10-05-2022

Equinor Sells Stakes in 2 Norway Fields to Sval Energi
Norwegian oil major Equinor said on Tuesday it had agreed to sell its 7.6% stake in Norway's giant Ekofisk field as well as a 19% stake in the Martin Linge field to private equity-backed Sval Energi.
Yemen
10-05-2022

UN Spearheading Efforts to Raise $80 Million to Prevent Major Oil Spill off Yemen
The world’s universal global organization, the United Nations, is working on raising the funds required for the implementation of its plan to address a threat posed by an FSO unit off the Yemen coast.
Oil&Gas Drilling
10-05-2022

New Gas Discovery for Energean off Israel
Hydrocarbon exploration and production company Energean has made a commercial gas discovery in Block 12 offshore Israel, bolstering its beliefs in the potential of the newly defined Olympus Area.
Crude Oil
10-05-2022

Biden Sidelined Global Energy Partners with Record Emergency Oil Release
The United States announced a record-sized release of emergency crude oil reserves in March without consulting partners in IEA, leaving them scrambling to match with releases of their own.
Crude Oil
09-05-2022

CNOOC Adds Oilfields in Brazil
China National Offshore Oil Corp (CNOOC)'s ultra-deepwater pre-salt oilfield in Brazil was put into operation on Tuesday, the latest effort by the country's top offshore oil and gas producer to step up overseas oil and gas production.
Crude Oil
09-05-2022

Oil Slips as Investors Eye EU Vote on Russian Oil Ban
Oil prices slipped in early Asian trade on Monday as investors eyed talks at the European Union on a Russian oil embargo that is expected to tighten global supplies.
Oil Price
09-05-2022

U.S. Shale Swings From Losses to Record Cash Flows
U.S. shale focuses on returning capital to shareholders in 2022.
Natural Gas
08-05-2022

Russia's Gazprom Continues Gas Exports to Europe via Ukraine
Russian gas producer Gazprom said it was supplying natural gas to Europe via Ukraine on Sunday in line with requests from European consumers.
Oil Price
07-05-2022

Why Shale May Not Stage a Comeback Despite Higher Oil Prices
Inflation, supply bottlenecks and a shortage of equipment and personnel have affected the exploration and production cycle.
Natural Gas
07-05-2022

U.S. Natural Gas Prices Could Soon Hit $10
Warmer than usual spring weather and record LNG exports to help Europe reduce dependence on Russian gas could send the U.S. benchmark natural gas prices to above $10 per million British thermal units in the coming weeks.
Oil Price
06-05-2022

Oil Rises, Defying Stock Market Falls as Supply Concerns Persist
Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil.
Natural Gas
06-05-2022

Why are U.S. Natural Gas Prices Soaring?
U.S. natural gas prices are surging, with the benchmark futures contract rising to a 13-year high of $8.74 per million British thermal units, at a time when that fuel's price tends to dip due to lack of demand in the spring.
Oil & Gas Trade
06-05-2022

How Much Russian Oil is Europe Importing?
Russia was the largest supplier of petroleum to Europe in 2021, according to a new report.
Oil & Gas Trade
06-05-2022

Shell’s Profit Soars on Higher Oil and Gas Prices
Oil major Shell booked a huge profit in the first quarter of the year on the back of higher oil and gas prices despite taking a charge due to its phased exit from the Russian oil & gas business.
Oil Price
05-05-2022

OPEC+ Set to Stick to Modest Oil Output Rises amid Price Rally
OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions.
Gas Turbine
05-05-2022

Siemens Energy Sells 100th H-Class Gas Turbine—Fleet Exceeds 2.5 Million Operating Hours
In late March, Siemens Energy announced separate agreements with Guangdong Energy Group Co. Ltd. and Shenzhen Energy Group Co. Ltd., in which the gas turbine giant will deliver a total of four SGT-8000H units for installation.
United Kingdom
01-05-2022

UK Asks North Sea Oil and Gas Sector to Set out Plan to Reinvest Profits
Business minister Kwasi Kwarteng has written to the North Sea oil and gas industry asking it to set out a clear plan to reinvest its profits into British energy projects, his department said on Saturday.
LNG
01-05-2022

LNG Terminals in Europe Are Filling up Fast
Europe’s LNG terminals are maxed out as the region continues to import record amounts of gas.
Oil Field
29-04-2022

Shell Fined £50K for Breaching Production Consents
The UK’s oil and gas regulator fined Shell UK £50,000 for breaching five field production consents.

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