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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
20-12-2024

OGRA Approves Major Increase in Gas Prices Across Pakistan
The Oil and Gas Regulatory Authority (OGRA) has approved significant hikes in gas prices, affecting consumers nationwide, ARY News reported.According to reports, the decision, sent to the federal government for final approval, will see an average increase
Natural Gas
20-12-2024

Germany’s Natural Gas Consumption Rose by 3.3% in 2024
Germany’s natural gas demand rose by 3.3% in 2024, due to lower prices compared to last year, preliminary estimates by the association of the German utilities, BDEW, showed on Wednesday.Despite subdued economic growth, the German industry raised
Oil Price
20-12-2024

Qatar Raises Oil Price for February Loadings
QatarEnergy has reportedly raised the price of its al-Shaheen crude oil blend for February loadings, suggesting robust demand for the grade.Reuters cited unnamed sources familiar with the company’s pricing decisions as saying a barrel of al-Shah
Crude Oil
20-12-2024

Saudi Crude Oil Exports Jumped to Three-Month High in October
Saudi Arabia’s crude oil exports rose to a three-month high in October, the latest data from the Joint Organizations Data Initiative (JODI) showed on Wednesday.Saudi Arabia, the world’s largest crude oil exporter, shipped 5.92 million
Oil Price
22-12-2024

Oil Prices Mixed; Traders Digest Differing Central Bank Signals
Oil prices traded in a mixed fashion Thursday, with the WTI contract pressured by the strong dollar in the wake of the hawkish note emanating from the Federal Reserve while monetay policy easing in Europe supported Brent.At 09:00 ET (14:00 GMT), Brent oil
Oil&Gas Drilling
22-12-2024

Borr Drilling Selects Zentech for Engineering Support
Houston-headquartered engineering consulting, project and construction management and software development firm Zentech Incorporated (Zentech) has signed a Master Service Agreement for Engineering Services with Borr Drilling Limited, a premier offshore sh
Oil&Gas Drilling
22-12-2024

Salunda Installing Drillfloor Alerts Service on Transocean Rig
Salunda has won a contract to install its HaloGuard zone monitoring system on the Transocean Endurance semisubmersible drilling rig in Australia.Salunda has won a contract to install its HaloGuard zone monitoring system on the Transocean Endurance semisub
Oil&Gas Drilling
22-12-2024

Seadrill’s Drillship Picks up 1,095-Day Drilling Job Offshore Brazil
Bermuda-headquartered offshore drilling contractor Seadrill has won a multimillion-dollar assignment off the coast of Brazil for one of its drillships, which will work for the South American country’s state-owned energy giant Petrobras.Following
Crude Oil
22-12-2024

Hanwha Ocean’s Fixed Platfrom Achieves Early Oil Production
Hanwha Ocean, a shipbuilding unit of Korea’s Hanwha Group, announced Wednesday that its offshore oil platform began to produce crude oil two weeks before the expected date in Qatar.The fixed platform first saw oil spring out on Sunday in the Al-
Oil&Gas Drilling
21-12-2024

Helix Vessel Getting Ready for Brazilian Decom Job With Shell at Namibia’s Port
U.S.-headquartered offshore energy services provider Helix Energy Solutions has confirmed the arrival of its purpose-built DP3 semi-submersible vessel to Namibia’s Port of Walvis Bay to prepare for its decommissioning assignment off the coast of
Natural Gas
21-12-2024

NUPRC to Launch New Oil Licensing Round in 2025
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed plans to hold another oil licensing bid round in 2025.NUPRC Chief Executive Officer Gbenga Komolafe made this known at the 2024 Licensing Round Commercial Bid Conference in Lagos
Oil & Gas Trade
21-12-2024

Oil Prices up With Fed Rate Cut Hopes, Us Demand Surge
Oil prices increased on Wednesday ahead of a possible rate cut decision from the US Federal Reserve (Fed) and data indicating a rise in oil demand in the US, the world's largest crude consumer.The international oil benchmark of Brent crude rose by
Oil&Gas Drilling
21-12-2024

Transocean Drillship Gets $111 Million to Stay Longer at Drilling Gig Offshore India
Switzerland-based offshore drilling contractor Transocean has secured a multi-well contract extension for one of its drillships off the coast of India.Reliance Industries hired Transocean’s Dhirubhai Deepwater KG1 drillship on a 300-day assignme
Oil & Gas Supply
19-12-2024

OPEC+ Wary of Rise in US Oil Output Under Trump
Opec+ members are contemplating a renewed rise in US oil output when Donald Trump returns to the White House, delegates from the group said.More US oil would further erode Opec+ market share and hamper the producer group’s efforts to support pri
Natural Gas
19-12-2024

Iran Boosts Oil, Gas Output Amid US Crackdown on Sales
Iran’s oil and gas output has ramped up over the past three months, Deputy Oil Minister Hamid Bovard said on December 18, as the country is poised to face heightened pressure under a second Trump administration.In the past three months, we have
Natural Gas
19-12-2024

EnQuest Gets Nod to Boost Gas Production at Field Offshore Malaysia
EnQuest Petroleum Production Malaysia, a subsidiary of London Stock Exchange-listed energy player EnQuest, and its partners in a production sharing contract (PSC) offshore Malaysia have signed a letter of agreement with Petronas enabling them to develop a
Natural Gas
19-12-2024

PTTEP Appraising ‘Remarkable’ Offshore Oil and Gas
Thailand’s national upstream company PTTEP is appraising its Chenda discovery on Block SK 405B offshore Sarawak, East Malaysia, for which it expects to complete a development plan in 2025.The Chenda-2 appraisal well is being drilled by Velesto E
Natural Gas
19-12-2024

Gas Prices in Midland-Odessa Drop to Their Lowest Levels in Three Years
Usually, conversations around gas prices center on why they’re rising and how national and global economic factors in the oil and gas industry contribute to the spikes. But not this time.Gas prices in Midland-Odessa have dropped to their lowest
Crude Oil
19-12-2024

China Boosts Oil Inventories With Jump in Crude Imports
China’s crude oil imports soared in November, but most of the increase in purchases likely went to boosting stockpiles, data compiled by Reuters columnist Clyde Russell showed on Monday.Last month, crude oil imports to China rose for the first t
LNG
19-12-2024

Germany to Shut Down Key LNG Terminal in 2025
Germany will shut down its Wilhelmshaven LNG terminal in the first quarter of 2025, with government-owned operator Deutsche Energy Terminal GmbH (DET) announcing there will be no regasification activity at the terminal between Jan. 5 and April 1, 2025. Th
Oil Exploration
18-12-2024

Kosmos Energy Confirms Takeover Talks With Tullow Oil
US oil and gas player Kosmos Energy has confirmed that it is in preliminary discussions to take over the UK-based independent exploration firm Tullow Oil.Both companies issued statements which confirmed the discussions after media reports speculated on th
Oil Field
18-12-2024

OGDCL Revives Heavy Oil Well in Punjab, Boosts Production by 67%
Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, has successfully revived a heavy oil well at its Rajian Oil Field in Gujar Khan, Chakwal district, Punjab.The strategic move has increased th
Natural Gas
18-12-2024

Drillship for East Sea Gas Exploration Arrives at First Drilling Site
A drillship participating in a major gas and oil development project in the East Sea arrived at its first drilling site Tuesday, as it prepares to begin exploration operations amid growing uncertainties in the project due to domestic political situations,
Oil Exploration
18-12-2024

QatarEnergy Acquires Interest in Exploration Block Offshore Namibia
QatarEnergy has acquired a 27% working interest in the Petroleum Exploration License and Petroleum Agreement for Block 2813B (PEL0090), offshore Namibia.Asa per the agreement, Harmattan Energy Limited (HEL), an indirect subsidiary of Chevron Corporation,
Oil Pipeline
18-12-2024

Oil Spill Occurs in Nigeria Due to Pipeline Rupture
An oil spill occurred at the Shell loading terminal in Nigeria’s Delta region after a pipeline ruptured, Nigeria’s maritime agency said on 15 November.The Nigerian Maritime Administration and Safety Agency (NIMASA) stated that the spil

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