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Oil & Gas

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

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
Crude Oil
18-12-2024

Canadian Oil Producers Forecast Higher Production in 2025
Three of Canada's biggest oil producers, Suncor Energy, Cenovus Energy and Imperial Oil, projected higher production in 2025, betting on resilient demand for Canadian crude in U.S. and international markets.Fuel demand in the United States, the bi
Oil Refinery
18-12-2024

Major Libya Oil Refinery Halts Operations Due to Clashes
A major oil refinery in Zawiya, western Libya, ceased operations yesterday following clashes between local armed groups that caused fires in several storage tanks. The National Oil Corporation (NOC) declared a state of force majeure. However, the fire was
Natural Gas
18-12-2024

Iran Achieves Record Gas Output at South Pars
Touraj Dehghani announced the milestone, attributing it to the efforts of over 1,500 workers operating 39 offshore platforms and 350 wells across the shared gas field, Shana reported."Our colleagues have worked tirelessly, particularly after the unex
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

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