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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
18-12-2024

Norway’s Nyhamna Gas Output Hit by Power Failure
Two-day outage to reduce gas export capacityDuration and size of outage uncertain, says GasscoShell works to restore capacity as soon as possibleAdds outage extended to Tuesday, Shell comment, price in paragraphs 2, 4, 6-7OSLO, Dec 16 (Reuters) -Norway&am
Natural Gas
18-12-2024

Morgan Stanley Sells Höegh Evi Stake
Norway’s Höegh Evi is getting a new shareholder. Morgan Stanley Investment Management has sold its 50% stake in Larus Holding, the owner of the floating regasification specialist formerly known as Höegh LNG to funds managed by
LNG
18-12-2024

Adnoc Signs 15-Year LNG Agreement With Germany’s EnBW
Adnoc has signed a sales and purchase agreement with German energy infrastructure company EnBW to supply 600,000 tonnes per annum of liquefied natural gas for a period of 15 years.The LNG will primarily be sourced from Adnoc’s Ruwais LNG project
Crude Oil
17-12-2024

Nigeria’s Oil Sector Gets 30,000BPD Boost
In a landmark development for Nigeria’s oil and gas sector, Oriental Energy Resources Limited has launched a $315 million Floating Production, Storage, and Offloading (FPSO) vessel designed to significantly enhance the nation’s crude o
Crude Oil
17-12-2024

Oil Holds Weekly Gain After US Signals Tighter Russia Sanctions
Oil steadied after a weekly advance as the US signaled tighter sanctions on Russian crude and Chinese authorities vowed to shore up the nation’s economy.Brent crude traded above $74 a barrel after rising almost 5% last week, while West Texas int
Crude Oil
17-12-2024

India’s Crude Oil Imports From Russia Drop 55% in November, Lowest Since June 2022
India's import of Russian crude dropped to its lowest level since June 2022 in November this year, reported the news agency PTI on Sunday, December 15, citing a Centre for Research on Energy and Clean Air (CREA) report.India's imports of R
Oil Exploration
17-12-2024

Oil and Gas Exploration: Bidding Process for Miranshah Block Completed
An official handout said that KPOGCL had launched the bidding phase in June 2024 following the decision of the 51st meeting of the Council of Common Interest.The KPOGCL had invited all public sector exploration and production companies including OGDCL, MP
Oil Refinery
17-12-2024

China Nov Refinery Throughput Rises for First Time in Eight Months
China's refinery throughput in November recorded its first rise in eight months, official data showed on Monday, as Beijing's economic stimulus measures began to underpin manufacturing activity and oil demand.Refiners processed 58.51 milli
Crude Oil
17-12-2024

Nigeria’s Crude Oil Output to Increase as Shettima Inaugurates $315M FPSO in Dubai
Nigeria’s crude oil production will rise by 30,000 barrels per day (bpd) as Vice President Kashim Shettima inaugurated Oriental Energy Resources Limited’s $315 million Floating Production, Storage and Offloading (FPSO) vessel to boost
Natural Gas
17-12-2024

SP Refineries Supply 585 MCM/D of Gas Into National Grid
Gholamabbas Hosseini, managing director of the South Pars Gas Complex, stated that total daily gas output from the complex’s 13 refineries currently stands at 613 mcm, with the majority being transferred to the national grid.With innovative meas
Crude Oil
17-12-2024

Venezuelan Oil Output Recedes as Washington Threatens New Sanctions
The Biden administration weighs withdrawing Chevron’s license while lobbyists urge Trump to leverage sanctions to US advantage.Venezuela’s crude production decreased in November as the country’s oil industry continues to stru
Crude Oil
17-12-2024

US Sanctions Disrupt Iranian Crude Flows to China, Vortexa Says
Iranian crude exports to China have been disrupted by broader US sanctions on tankers, according to Vortexa Ltd., squeezing oil flows to the OPEC producer’s most important customer.Some November cargoes remain undelivered, following disruptions
Oil Refinery
17-12-2024

Dangote Refinery Extends Export to Three African Countries
The Dangote refinery has exported Premium Motor Spirit (petrol) to Cameroon, Angola, Ghana, and South Africa in the past few weeks.The Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, disclosed this while playing host to a deleg
Natural Gas
16-12-2024

Egypt’s Cabinet Approves Oil, Natural Gas Exploration Agreements in Key Concessions
The Cabinet has approved two draft petroleum commitment agreements involving the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and several international companies, as per a statement.These agreements focus
Oil&Gas Drilling
16-12-2024

New Oil Discovery Boosts Barents Sea Potential With 20 More Wells on the Drilling Horizon
Norwegian oil and gas player Vår Energi has discovered oil resources in an appraisal well near the Goliat field in the Barents Sea off the coast of Norway. As the firm believes the new find has unlocked further potential in the area, it plans to
Natural Gas
16-12-2024

Dana Gas Receives $20 Million in Payment From Egypt
Dana Gas, one of the largest private natural gas companies in the Middle East, received a $20 million payment from the Egyptian government, taking the total payments received to $24.5 million in the fourth quarter.The latest payment will help the company
Crude Oil
16-12-2024

Argentina to Eclipse Colombia as Oil Production Growth Continues
Crude oil production in the Vaca Muerta shale formation in Argentina is about to hit 1 million barrels per day this decade. The forecast came recently from Rystad Energy, and on its heels came another forecast, from the EIA: Argentina will soon eclipse Co
Crude Oil
16-12-2024

Nigeria Retains Top Spot as Africa’s Biggest Oil Producer
The Organisation of the Petroleum Exporting Countries (OPEC) has disclosed that Nigeria retained its position as the largest oil producer in Africa.OPEC, in its latest monthly report on Wednesday for the month of November, said Nigeria’s oil out
Natural Gas
16-12-2024

Suncor Energy to Increase Oil and Gas Output by up to 5 Per Cent in 2025
Suncor Energy Inc. is aiming to increase its oil output next year by up to five per cent, as it continues to work to improve its performance and lower costs from its oilsands assets.In its corporate guidance for 2025, released Thursday, the Calgary-based
Oil Field
16-12-2024

Reabold Resources Ups Stake in Rathlin Energy
The £700,000 purchase, from Rathlin’s Canadian owners, Connaught Oil & Gas, takes Reabold’s total shareholding in Rathlin to nearly 80%.Under the deal announced today, Reabold will hold a 69.9% interest in the West Newton
Natural Gas
14-12-2024

Austria’s OMV Terminates Gazprom Natural Gas Contract
Austrian oil and gas company OMV announced Wednesday the termination its long-term natural gas supply contract with Russia's Gazprom Export, citing multiple fundamental breaches of contractual obligations by the supplier.The contract, originally s
Crude Oil
14-12-2024

Crude Oil Futures Edge Up After IEA Report on Demand Outlook
Crude oil futures traded slightly higher on Friday morning after the latest report from IEA (International Energy Agency) indicated an increase in global oil supply in 2025.At 9:56 am on Friday, February Brent oil futures were at $73.48, up by 0.10 per ce
Gas Turbine
14-12-2024

SSE Thermal and Siemens Energy Partner on Hydrogen-Ready Gas Turbines
SSE Thermal and Siemens Energy have launched a collaboration to deliver gas turbine technology capable of running on 100% hydrogen.The project is called Mission H2 Power, and will support the decarbonisation of SSE’s Keadby 2 Power Station in No
Natural Gas
14-12-2024

RJM Wins Coal-To-Gas Upgrade for Spanish Power Plant
Combustion technology provider RJM International has secured an order for new combustion technology, including CFD combustion analysis and ultra-low NOx gas burners, for a power plant upgrade in Spain.The project plans to upgrade unit two of edp&rsquo
Oil Price
13-12-2024

Oil Prices up With China Demand Hopes
Oil prices increased on Wednesday supported by economic stimulus measures in China, the world’s biggest crude importer, aimed at boosting domestic growth.The international oil benchmark of Brent crude rose by 0.44% to $72.15 per barrel at 10.48

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