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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
18-01-2025

Centre Allows Oil, Gas Exploration Near Assam’s Hollongapar Gibbon Sanctuary
A hoolock gibbon.The Standing Committee of the National Board for Wildlife has approved oil and gas exploratory drilling by Vedanta Group’s Cairn Oil and Gas in the eco-sensitive zone of the Hollongapar Gibbon Wildlife Sanctuary in Assam&rsq
Oil Price
13-01-2025

Price May Rise as Crude Hits $81 per Barrel
The prices of premium motor spirit and other petroleum refined products may rise in the coming days following the increase in the cost of crude oil prices, such as Brent.The price of Brent crude surged $81.09 per barrel as of the time of filing this repor
Oil&Gas Drilling
18-01-2025

TMK Doubles Gas Outflow by Adding Three New Mongolian Wells
TMK Energy’s Gurvantes XXXV project in Mongolia is flaring gas from six pilot production wells after adding three new wells and doubling field gas outflowTMK Energy’s Gurvantes XXXV coal seam gas project in Mongolia has all six of its
Oil & Gas Supply
13-01-2025

‘Significant Barriers’: ACCC Urges Australian Governments to Clear Hurdles to New Gas Projects and Investment
Australian Energy Producers chief executive, Samantha McCulloch.The Australian Competition and Consumer Commission (ACCC) has urged Commonwealth and state governments to reduce regulatory barriers to investment in new gas supply and explicitly recognise t
Crude Oil
13-01-2025

In Key Breakthrough, Nuprc Data Confirms Nigeria’s 1.5 Million Bpd OPEC Oil Output
Emmanuel Addeh in Abuja Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that Nigeria’s crude oil production reached 1.5 million barrels per day in December 2024, a major milestone in the country’s quest to raise
LNG
13-01-2025

CNPC Unit and Petrofac Among Winners of $2.1B Infrastructure Contracts for ADNOC’s Ruwais LNG
Rendering of the Ruwais LNG concept designThe contracts with a combined value of $2.1 billion encompass works on an LNG pre-conditioning plant (LPP), compression facilities, and transmission pipelines–described as key infrastructure by the UAE p
Oil & Gas Trade
13-01-2025

Chevron to Complete $53BN Hess Corp Acquisition
Chevron Corp is reportedly well positioned to grow its free cash flow by $6 billion to $8 billion by next year, and lower expenses by a couple billion dollars, the company’s Chief Executive Officer Michael Wirth has announced.Chevron is looking
Oil&Gas Drilling
13-01-2025

Prosafe Signs $109 Million Contract Extension With Petrobras for Offshore Brazil Work
Prosafe has signed a contract extension with Petróleo Brasileiro S.A. (Petrobras) for the provision of the Safe Zephyrus semi-submersible vessel for safety and maintenance support offshore Brazil.The original 650-day firm period was due to comp
Natural Gas
10-01-2025

Norway Reports Record Natural Gas Exports From NCS in 2024
Gas production hit 124 billion standard cubic metres in 2024, surpassing 2022’s total of 122.8 billion.Norway achieved a record level of natural gas exports from the NCS in 2024, with industry projections indicating that these figures will remai
Crude Oil
10-01-2025

BP Projects 44 per Cent Jump in Oil Output From India’s Largest Field
Global energy major BP (BP.L) has pledged to lift oil production by 44 per cent and gas output by 89 per cent from India’s largest field off its west coast, under a decade-long contract, according to block operator Oil and Natural Gas Corp (ONGC
Crude Oil
10-01-2025

SLB Awarded Multi-Region Deepwater Contracts by Shell to Support Capital-Efficient Energy Development
Global energy technology company SLB has been awarded a series of major drilling contracts by Shell to support capital-efficient energy development across its deep- and ultra-deepwater assets in the UK North Sea, Trinidad and Tobago, the Gulf of Mexico an
Oil & Gas Trade
10-01-2025

Asia’s EV Boom Sours Appetite for Nigeria’s Oil
The growing adoption of electric vehicles (EVs) and liquefied natural gas (LNG) as preferred energy sources in Asia has continued to weaken Nigeria’s crude oil export earnings from the region, its largest market, for two straight years.The notic
Gas Turbine
10-01-2025

China’s Guangming Plant Starts Commercial Operation, Powered by GE Vernova’s H-Class Equipment
Shenzhen, Guangdong Province, China (January 9, 2025) - GE Vernova Inc. (NYSE:GEV) and Harbin Electric today announced that Chinese state-owned power utility Shenzhen Energy Group Corporation Co., Ltd.‘s Guangming power plant has achieved the st
Oil & Gas Trade
10-01-2025

Angola’s Faster February Oil Sales Signal Better Demand in Asia
The pace of sales for February-loading Angolan oil is faster than the last couple of months, with only 20-30% of next month’s supplies still seeking buyers.Only five-to-eight cargoes of Angolan crude for next month are still for sale out of 29 s
Oil & Gas Supply
10-01-2025

Bangladesh Announces Days of Countrywide Gas Supply Halt Again
State-owned Petrobangla (Bangladesh Oil, Gas and Mineral Corporation) has announced a countrywide disruption in natural gas supplies to its customers for three days as of Jan. 10.Petrobangla made the announcement in a press release on Thursday, saying one
Crude Oil
10-01-2025

Looking for More Oil at Kuparuk River
Development at West Sak, the heavy oil accumulation at the Kuparuk field on Alaska's North Slope, is in the news a lot these days, but Kuparuk operator ConocoPhillips Alaska is also doing some innovative work to find oil targets at the field&#
Oil & Gas Supply
10-01-2025

Australia’s Most Populous States Face Gas Shortfalls From 2027
Australia’s east coast is expected to have a shortfall of domestic gas supply from 2027 unless new gas fields are soon brought online, according to the nation’s top consumer watchdog.Sydney and Melbourne, the capitals of the most popul
Crude Oil
10-01-2025

Dangote Refinery Builds Eight More Tanks for Imported Crude
The Dangote Petroleum Refinery is building eight more tanks in its bid to have enough storage for imported crude oil.A report by Africa Report has it that the refinery is ramping up its storage capacity by 6.29 million barrels, equivalent to 1 billion lit
Gas Pipeline
10-01-2025

Los Angeles-Area Wildfires Could Impact Gas Line to Southern Nevada
Clark County said that the fuel line service to Southern Nevada could be impacted by Los Angeles-area wildfires.As a result of the fires in California, Clark County Emergency Management is aware of potential impacts to the fuel line servicing Southern Nev
Gas Pipeline
10-01-2025

LA Power Outages Cause Gas Pipeline to Las Vegas to Be Shut Down
A fuel pipeline that connects the Las Vegas market to a major oil refinery in Southern California has been closed since just before noon Wednesday and remains shut down because of power outages related to fires in Los Angeles.The shutdown involves Kinder
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

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