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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
25-12-2024

Uzbekneftegaz Forecasts Gas Production Decline to 26.5 Billion Cubic Meters by 2025
Bakhodirjon Sidikov.Photo: President's press serviceUzbekistan’s largest gas producer Uzbekneftegaz predicts a further drop in production to 26.5 billion cubic meters by 2025, marking a decrease of 2.8 billion cubic meters from this year
Oil Field
25-12-2024

Petrobras Terminates Sale of Two Oil & Gas Fields Offshore Brazil
Brazilian oil and gas player Brava Energia has confirmed its acquisition of oil and gas fields and associated infrastructure off the coast of Brazil cannot be completed with the country’s state-owned energy giant Petrobras, as a precedent condit
Oil Field
25-12-2024

China’s CNOOC Brings Bohai Sea Oil Field on Stream
Illustration (Credit: CNOOC)China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has started production at Suizhong 36-2 oilfield 36-2 block development project in Bohai Sea.The main production facility is a new unm
Crude Oil
25-12-2024

Crude Oil Futures Rise on Spot Demand - PTI
Crude oil futures climbed on Monday, driven by increased demand in the spot market. WTI and Brent crude also saw gains in global markets.Crude oil prices on Monday climbed Rs 26 to Rs 5,964 per barrel in futures trade as participants increased their posit
Crude Oil
25-12-2024

India to Overtake China in Crude Oil Consumption by 2024, 2025
Representation imageIndia is poised to overtake China as the leading source of growth in global crude oil consumption.In 2024 and 2025, India will account for one-fourth of the growth in global oil demand, according to the US Energy Information Administra
Natural Gas
24-12-2024

Uzbekistan Plans to Start Geological Exploration of 15 Promising Gas Deposits
President of Uzbekistan Shavkat Mirziyoyev chaired a meeting to discuss the state and measures to increase gas production in the country, Kazinform News Agency reports.The Chairman of JSC Uzbekneftegaz presented a report on the work done in 2024 and outli
Crude Oil
24-12-2024

KP Produces 30,000 Bpd of Crude Oil per Day
Similarly, the province produces 410 MMCFD of gas, which accounts for 13% of the national output. The province also produces 800 tons of LPG daily, representing 40% of the national LPG production.This was told during a meeting on oil and gas production in
LNG
24-12-2024

US LNG Exports Hit Record Highs in 2024 Despite Price Pressures
US liquefied natural gas exports are on track to climb to new highs in 2024, as record domestic natural gas production spurred the 10th straight year of volume growth in the lucrative LNG export sector.US LNG shipments for 2024 look set to hit 86.9 millio
Brazil
24-12-2024

Brazil Plans to Significantly Increase Oil Production by 2025
Brazil's oil production is expected to reach 3.6 million barrels per day (bpd) in 2025, up about 6 per cent from an accumulated average of 3.4 million bpd this year through October, according to the data from the Brazilian Petroleum Institute (IBP
Natural Gas
24-12-2024

Saipem Wins $900M EPCI Contract From Shell’s $5BN Offshore Project in Nigeria
Saipem, in a consortium with two Nigerian companies, has secured an offshore contract worth around $1 billion with Shell for a deepwater oil and gas project off the coast of Nigeria, Offshore Energy magazine has reported.As part of the contract with Shell
Natural Gas
24-12-2024

Severe Gas Shortage in Industrial Sectors Disrupting Production
Industrial sectors in Bangladesh are facing a severe gas shortage, disrupting production across factories. For several weeks, inadequate gas supply has caused output in key sectors like ceramics, steel, and textiles to drop by nearly half.Industrial entre
LNG
24-12-2024

Qatar Threatens Europe With Termination of Liquefied Natural Gas Supplies
Qatar has threatened to cut off liquefied natural gas (LNG) supplies to Europe. This will happen if QatarEnergy faces a fine due to the EU Directive on corporate sustainability due diligence, says Qatar energy minister Saad al-Kaabi.If the case is that I
Oil Price
24-12-2024

Oil Gains as Cooling US Inflation Points to Possible Easing
Oil prices rose on Monday as lower-than-expected US inflation data revived hopes for further policy easing, although the outlook for a supply surplus next year weighed on the market.Brent crude futures rose 36 cents, or 0.5 per cent, to $73.30 a barrel by
Natural Gas
24-12-2024

Russia’s Daily Pipeline Gas Flows to China Set New Record
Russia’s daily natural-gas flows to China via the Power of Siberia link set a new record on Dec. 20, according to energy giant Gazprom PJSC.While the producer didn’t specify the absolute figure for the daily gas supplies to the Asian n
Crude Oil
24-12-2024

Iraq Halts Oil Exports to Syria Amid Regional Instability
Iraq has suspended crude oil exports to Syria, citing regional instability, in a move that threatens to deepen Syria's fuel crisis, Iraqi officials said on December 22.The decision to halt shipments of approximately 120,000 tonnes of crude per mon
Oil&Gas Drilling
23-12-2024

Aker BP Gets Green Light for Drilling Ops in Norwegian Sea
The Norwegian Offshore Directorate has granted Aker BP two drilling permits for wildcat wells in the Norwegian Sea.The permits are for wellbore 6306/6-3 S in production license 886, and 6507/5-13 S in production license 212.Aker BP operates the license 88
Oil&Gas Drilling
23-12-2024

Contract With ‘Prominent’ Oil & Gas Company Takes US Subsea Firm to West Africa
Houston-based subsea energy equipment and services specialist KOIL Energy Solutions, formerly Deep Down, is set to deliver subsea distribution manifolds to what it says is a prominent oil and gas company, for a project in West Africa.The scope of work inc
Crude Oil
23-12-2024

Venezuela Sends Crude to India in New Deal
A high-seas oil tango is back on between Venezuela's state oil company PDVSA and India’s Reliance Industries, rekindling a swap arrangement paused by U.S. sanctions. This revival, greenlit by a U.S. license in July, signals a cautious st
Oil Exploration
23-12-2024

Exploration Well Encounters 4 Oil Rich Reservoirs
Arrow Exploration Corp. (AXL:TSX.V; AXL:LSE) made a material discovery with its Alberta Llanos AB-1 exploration well on the Tapir block in Colombia's Llanos basin, reported Auctus Advisors Analyst Stephane Foucaud in a Dec. 17 research note. On th
Oil Exploration
23-12-2024

Pakistan Spent Rs. 430 Billion on Oil and Gas Exploration in Last 3 Years
The Senate Standing Committee on Petroleum, chaired by Senator Umar Farooq, held a meeting where petroleum officials provided a detailed briefing on oil and gas exploration activities, drilling operations, and associated costs over the past three years.Of
Crude Oil
23-12-2024

North Dakota Crude Output Cut by 520,000 B/D After October Wildfires
North Dakota, the third-largest producing state in the U.S., saw its crude production fall by 520,000 barrels per day in October after operators shut in wells to protect against wildfire damage. October production declined to 1.178 million barrels per day
Natural Gas
23-12-2024

OGDC Commences Production From Kunnar West Well-3
Oil and Gas Development Company (OGDC) on Thursday announced the start of production from its Kunnar West Well-3, situated in the Hyderabad district of Sindh.According to a company statement, the well was brought into production at a wellhead flowing pres
Oil Field
23-12-2024

Weather Issues Slowing North Sea Tyra II Gas Ramp-up
TotalEnergies has restored gas production from three of six fields tied back to the Tyra field center in the North Sea.TotalEnergies, on behalf of the Danish Underground Consortium, has restored gas production from three of six fields tied back to the Tyr
China
23-12-2024

India to Surpass China as Leading Contributor to Global Oil Consumption Growth in 2024, 2025
India has become the primary driver of growth in global oil consumption for 2024 and 2025, surpassing China, which consistently led global oil consumption growth from 1998 to 2023, according to the US Energy Information Administration (EIA).India has beco
Natural Gas
23-12-2024

US Natural Gas Prices Jump
US natural gas futures jumped about 5% to a 23-month high on Friday on early forecasts for much colder weather in mid-January that could freeze oil and gas wells and lift spot prices by reducing output as in past years.Also supporting prices was an increa

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