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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
26-10-2024

UK Likely To Unlock £10 Billion Worth Of North Sea Oil & Gas With Encouraging Fiscal Regime, Woodmac Finds
Given the rising focus on energy security, Wood Mackenzie, an energy intelligence group, has pointed out that the United Kingdom (UK) could get its hands on an additional £10 billion of North Sea oil and natural gas value from existing assets if
Crude Oil
26-10-2024

US Oil/gas Rig Count Steady This Week, Pennsylvania Falls To 17-year Low, Baker Hughes Says
U.S. energy firms kept the number of oil and natural gas rigs unchanged this week, with the count falling to a 17-year low in Pennsylvania, energy services firm Baker Hughes (BKR.O), said in its closely followed report on Friday.The oil and gas rig count,
LNG
26-10-2024

Exclusive: Blackstone In Talks To Buy US Pipeline Stakes From EQT For $3.5 Billion, Sources Say
Private equity firm Blackstone (BX.N), is in advanced talks to acquire minority stakes in the interstate natural gas pipelines owned by EQT Corp (EQT.N), for about $3.5 billion, people familiar with the matter said on Friday.If the talks are successful, t
LNG
25-10-2024

Exxon Mobil, Qatar Get 3-year Extension To Build Their LNG Plant In Texas
India's Reliance Industries Ltd, operator of the world's biggest refining complex, is restructuring its trading operations, including moving most of its Dubai crude oil trading team back to Mumbai, two sources familiar with the plan said.T
Oil Price
25-10-2024

Italy's Eni To Boost Buyback After Quarterly Earnings Beat Expectations
Italian energy group Eni (ENI.MI), will increase its share buyback programme to 2 billion euros ($2.2 billion), it said on Friday, after beating third-quarter profit expectations.The state-controlled group had indicated in July that it could raise the 1.6
Natural Gas
25-10-2024

Beach Energy Brings More Natural Gas To The East Coast
Beach Energy has delivered first gas from two development wells to the Otway Gas Plant -- marking completion of the largest ever offshore drilling and development program in the Otway Basin.The two Thylacine West wells are approximately 70 kilometres offs
Oil & Gas Trade
25-10-2024

More Rig Market Consolidation On The Cards As Transocean And Seadrill Ponder Merger
Media speculation is running high following reports that the two offshore drilling players have engaged in initial talks regarding the possibility of merging their assets to create a bigger player, further boosting the pricing power offshore drillers enjo
Natural Gas
25-10-2024

Beach Energy Ignites Australian Offshore Gas Field
Independent Beach Energy has achieved first gas from its Thylacine West gas project offshore Australia, following the successful connection of the Thylacine-1 and -2 development wells to the onshore Otway Gas Plant.The Thylacine West development wells are
Oil & Gas Supply
24-10-2024

Cop29 Host Azerbaijan Set For Major Fossil Gas Expansion, Report Says
Azerbaijan’s climate action plan was rated ‘critically insufficient’ by Climate Action Tracker in September.Photograph: Sergei Grits/APAzerbaijan, the host of the Cop29 global climate summit, will see a large expansion of fos
Oil&Gas Drilling
24-10-2024

Petro Matad Set To Start Oil Production From Heron-1 Well In Mongolia This Week
Petro Matad, a Mongolia-based oil exploration company, has announced its schedule for the commencement of oil production at the Heron-1 well within the Block XX production sharing contract area in eastern Mongolia.The company has completed site constructi
LNG
24-10-2024

I Squared Capital To Acquire Philippines Coastal Terminal
ISquared Capital has agreed to acquire Philippines Coastal Storage & Pipeline, including its affiliate entities, Keppel Infrastructure Trust, Singapore and Metro Pacific Investment.The acquisition will proceed through the ISQ Global Infrastructure Fun
Oil & Gas Trade
24-10-2024

Equinor Q3 Profit Lags Forecast, Sees Lower Capital Expenditure
Equinor (EQNR.OL), on Thursday reported a sharper-than-expected decline in third-quarter profits, hit by weaker oil prices and lower production, and cut its full-year outlook for capital expenditure and renewable energy production growth.The Norwegian oil
Oil & Gas Supply
23-10-2024

India's Diesel Consumption To Rise 3%-4% In Current Fiscal Year, Says Indian Oil Chair
A worker fills diesel in a container at a fuel station in Kolkata, India, February 1, 2018. REUTERSIndia's annual diesel consumption is expected to rise by 3%-4% in the current fiscal year to March 31, said V. Satish Kumar, chairman of Indian Oil
Oil & Gas Trade
23-10-2024

Top U.S. LNG Exports: China's Gas Demand Is Booming
Chinese demand for natural gas is set to jump by more than 50% by 2040, from 400 billion cubic meters (bcm) now to more than 600 bcm, according to an executive at the top U.S. LNG exporter, Cheniere Energy.There’s no doubt that gas demand growth
LNG
23-10-2024

Brazil Mulls LNG Imports Into Early 2025 as Hydro Shrinks
Gas buyers in Brazil are inquiring about potential purchases of global shipments well into the first quarter as persistently dry weather threatens hydropower generation.The country will need five or more cargoes of liquefied natural gas a month from Janua
LNG
23-10-2024

Chinese Player Entrusted With Flagship FLNG Project Unlocking ‘Stranded’ Offshore Gas Fields in Oceania
Wison's existing 1.3 mtpa FLNG model (for illustration purposes); Source: Wison New EnergiesWison New Energies (WNE), a China-based provider of clean energy services, has picked up a new assignment with Kumul Petroleum Holdings Limited (KPHL) rela
Oil&Gas Drilling
22-10-2024

Six-Well North Sea Drilling Campaign With $690 Million Price Tag Coming up Next Year to Unleash More High-Value Barrels
Norwegian oil and gas player Vår Energi has greenlighted a final investment decision (FID) for a multi-well drilling program, which aims to develop the next stage of a field life extension project in the North Sea off the coast of Norway.V&a
LNG
22-10-2024

Vitol Inks LNG Swap Deal with China Gas
China Gas Hongda Energy Trading, a subsidiary of Chinese piped-gas operator China Gas, and energy and commodities company Vitol have signed a long-term liquefied natural gas (LNG) swap agreement.Under the agreement, Vitol is set to buy 0.5 million metric
Oil Field
22-10-2024

Chinese Giant Brings Another Oil Development Project Online in South China Sea
Chinese state-owned oil and gas giant China National Offshore Oil Corporation (CNOOC) has started production from an oilfield development project in the South China Sea ahead of schedule.CNOOC, which operates and holds 100% interest in the Xijiang 30-2 oi
Oil Field
22-10-2024

EnQuest, Seascape Secure Stakes in DEWA Complex Cluster, Malaysia
EnQuest and Seascape Energy have been granted participating interests in a small field asset production sharing contract (SFA PSC) for the DEWA Complex Cluster, located off the coast of Sarawak, Malaysia.The award was made through the Malaysia Bid Round P
Oil & Gas Trade
22-10-2024

Nigeria Halts Shell Asset Sale, Approves Exxon-Seplat Deal
Nigeria has blocked Shell's sale of its entire onshore and shallow-water oil operations, but approved a similar deal by Exxon Mobil , opens new tab, the country's upstream oil regulator said on Monday.Shell's asset sale for up to $
LNG
22-10-2024

Singapore’s Centralised Gas Company to Begin LNG Procurement From 2026, Minister Says
The Singapore government expects its newly formed centralised gas company to start procuring liquefied natural gas from 2026, said Low Yen Ling, Singapore's minister of state for trade and industry on Tuesday.
Gas Power Stations
22-10-2024

Evergy to Build Natural Gas Power Plants in Kansas Amid Booming Demand
Evergy (EVRG.O), will build two 705 megawatt natural gas power plants in Kansas to meet an expected spike in electricity demand, the U.S. utility firm said on Monday.Utilities across the country are ramping up investments in their infrastructure ahead of
LNG
22-10-2024

Next Wave of LNG Supply Delayed to 2027 Due to Project Hold-Ups, Totalenergies Says
The next wave of liquefied natural gas (LNG) supply will come online from 2027, later than the earlier forecast of 2025, due to project delays, TotalEnergies' Senior Vice President for LNG Gregory Joffroy said on Tuesday."On the mid-term (out
Oil & Gas Trade
21-10-2024

Iraq Signs Gas Supply Agreement With Turkmenistan
Turkmenistan’s gas supply to Iraq would vary seasonally. Credit: TinoFotografie/Shutterstock.Iraq has inked a gas supply agreement with Turkmenistan, securing 20 million cubic metres (mcm/d) per day of gas to enhance its electricity facilities.T

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