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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
09-01-2025

Pioneer Energy Secures $27M From US DOE for Emission Reduction Projects
Pioneer Energy announced its selection by the US Department of Energy (DOE) for four grants collectively valued at $27m. Three of these awards aim to develop the company’s Emission Control Treater (ECT), an innovative near-zero emissions technol
Crude Oil
09-01-2025

BP Partnership to Boost ONGC Revenue by $10.3 Billion Over 10 Years
ONGC had in June last year floated a tender seeking foreign partners to reverse declining output at its flagship Mumbai High fields.State-owned Oil and Natural Gas Corporation (ONGC) expects a $10.3 billion revenue boost from increased oil and gas product
LNG
09-01-2025

India’s Latest LNG Import Terminal Receives Its First Shipment
India’s newest liquefied natural gas terminal has received its first shipment, taking the country a step closer to its goal of doubling the proportion of the fuel in its energy mix by the end of the decade.Commissioning activities are underway a
Oil Price
09-01-2025

Price of Azerbaijani Oil Takes Nosedive
The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta decreased by 91 cents on January 8 compared to the previous rate, landing on $78.72 per barrel, Trend reports, citing a source in the country's
Oil & Gas Trade
09-01-2025

Fuel Oil Leaks From Stranded Tanker Near Hokkaido Beach
The Sanwa Maru remains stranded on a reef about 20 meters from shore in Hakodate, Hokkaido, on Jan. 8.Fuel oil has leaked from a 3,919-ton tanker that ran aground here on Jan. 6, but its cargo of 3,800 kiloliters of diesel fuel and kerosene did not spill
Oil Price
09-01-2025

Oil Prices Edge Down for Second Day Straight on Rising US Fuel Inventories
Oil prices declined for a second day on Thursday after large builds in fuel inventories in the US, the world's biggest oil user, though expectations for increasing winter fuel demand and concerns over tighter supply limited the drop.Brent crude fu
Oil Pipeline
08-01-2025

Turkstream Carries Over 104 Bln Cubic Meters of Gas in 5 Years
Over the course of five years, the TurkStream Natural Gas Pipeline transported a total of 104.1 billion cubic meters of gas, delivering Russian natural gas reserves to Türkiye and onward to Europe.Haberin DevamıBetween Jan. 1, 2020, and Dec. 31,
Oil & Gas Supply
08-01-2025

Shell Flags Lower Gas Volumes, Weaker Trading to End 2024
Shell Plc said it saw lower volumes of natural gas and weaker earnings from trading the fuel in the final three months of 2024.The warning on Shell’s crucial natural gas division, in a fourth-quarter trading update published on Wednesday, was ac
Oil&Gas Drilling
08-01-2025

Carigali Hess Enlisting Tanjung Offshore’s Maintenance Services
Tanjung Offshore Services, a subsidiary of Malaysia’s T7 Global, has won a service contract with Carigali Hess Operating Company, a joint venture between Petronas’ affiliate PC JDA and Hess Oil Company of Thailand.Tanjung Offshore&
LNG
08-01-2025

Philippines Encourages LNG Importers to Aggregate Buying
The Philippines is encouraging importers of liquefied natural gas (LNG) to voluntarily aggregate purchases of the super-chilled fuel in efforts to lower prices and improve market efficiencies, government officials said on Wednesday."If there is a vol
Natural Gas
08-01-2025

India’s ONGC Engages BP to Boost Production in Largest Oil Field
A technician is pictured inside a desalter plant of Oil and Natural Gas Corp (ONGC) on the outskirts of Ahmedabad, India, September 30, 2016.India's top explorer Oil And Natural Gas Corp (ONGC.NS), opens new tab on Wednesday said energy major BP (
Oil Price
08-01-2025

Azerbaijani Oil Approaches $80 Per Barrel
The price of a barrel of Azeri Light crude rose by $0.15, or 0.19%, settling at $79.63.Azeri Light crude oil reached its lowest level on April 21, 2020, at $15.81 per barrel, while its highest price was recorded in July 2008, at $149.66 per barrel.
Crude Oil
12-01-2025

NDDC Seeks Stakeholders’ Cooperation to Develop N’Delta
The Niger Delta Development Commission (NDDC) has urged stakeholders to unite for the development of the oil-rich region. Its Executive Director of Finance and Administration, Boma Iyaye, appealed during a Stakeholders’ Interactive Forum on the
LNG
08-01-2025

Pantheon Resources Hails Funding Partnership for Alaska LNG
loil and gas company focused on developing the Ahpun and Kodiak onshore oil fields in Alaska - Notes Monday's announcement from the Alaska Gasoline Development Corp in relation to an exclusive framework agreement with an unnamed private company, t
Oil Field
08-01-2025

SK Innovation’s Oil Exploration Subsidiary Continues to Expand Southeast Asian Businesses
SK Earthon's crude oil production platform operates at the Lufeng 12-3 oil site in block 17/03 located in South China Sea.SK Earthon, an oil exploration subsidiary of SK Innovation, on Wednesday said that it has successfully discovered crude oil i
Nigeria
08-01-2025

Seplat to Revive 400 Idle Oil Wells, Set to Hit Over 120,000 BPD After Buying Mobil Assets
Nigeria’s Seplat Energy plans to revive 400 idle oil wells to meet its over 120,000 barrels per day crude production in the coming months, the company’s top management has said.This is coming as the Nigerian company that took over the
Crude Oil
08-01-2025

Sinopec’s Zhenhai Refinery Says Fire at Its Crude Unit Put Out
China's Sinopec Zhenhai refinery said a fire that broke out on one of its crude distillation units late on Tuesday had been put out, with no injuries reported.The plant's No.5 crude unit caught fire around 9.55 pm on Tuesday local time aft
United States
08-01-2025

Expand Energy Still on Track to Boost US Gas Output to 7 Bcfd in 2025, CEO Says
Expand Energy (EXE.O), opens new tab, the biggest U.S. natural gas producer, remains on track to boost output to around 7 billion cubic feet per day (bcfd) in 2025, CEO Nick Dell’Osso said at the Goldman Sachs Energy, CleanTech & Utilities C
Oil Price
08-01-2025

Oil Prices up on Tighter OPEC Supply, US Jobs Data
A pumpjack operates at the Vermilion Energy site in Trigueres, France, June 14, 2024.Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened, while data showing an unexpected increase in U.S. jobs openings pointed to expanding econ
Oil Refinery
08-01-2025

Exxon Signals Weaker Performance Across the Board to Hurt Q4 Profits
Vehicles pass in front of an Exxon service station in Bethesda, Maryland, U.S., November 25, 2024.Exxon Mobil (XOM.N), opens new tab signaled on Tuesday that sharply lower oil refining profits and weakness across all its businesses would reduce its fourth
Oil & Gas Trade
08-01-2025

Austria’s OMV Agrees to Supply Romanian Gas to Germany, Sources Say
The logo of Romanian integrated oil company OMV Petrom is pictured outside its headquarters in Bucharest, Romania, March 28, 2019.Austria's OMV has struck a deal to supply Germany's Uniper with gas from its Black Sea project from 2027,as E
Oil Pipeline
07-01-2025

Trans Adriatic Pipeline Selects Penspen for Hydrogen Repurposing Assessment
Under this new contract, Penspen’s UK-based engineering team will perform a comprehensive desktop and field assessment review of TAP’s above ground installations (AGIs), block valves (BVs) and compressor stations (CSs) to assess the fe
LNG
07-01-2025

Seaboard Marine Adds Third LNG-Powered Newbuild to the Fleet
With 247.9 meters in length and a capacity of 3,500 TEU and over 1,000 refrigerated container plugs, Seaboard Verde will serve ports across the Americas, including Moin, Costa Rica; Colon, Panama; Kingston, Jamaica; Santo Domingo, Dominican Republic; Phil
Crude Oil
07-01-2025

UK’s Serica Energy Restarts Production at Triton Vessel
UK's Serica Energy (SQZ.L), opens new tab said on Tuesday that its Triton floating production storage and offloading (FPSO) vessel in the North Sea resumed production on Dec. 27, with a phased restart of the producing and new wells ongoing.It said
Crude Oil
07-01-2025

OPEC Oil Production Falls as UAE Leads Supply Cuts
Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) declined last month, as the United Arab Emirates (UAE) intensified supply cutbacks aimed at stabilizing global oil markets.According to a Bloomberg survey, OPEC&rsq

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