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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
19-10-2024

SUBSEA7 Employs New Installation Method at Aramco’s Giant Offshore Oil & Gas Project (Gallery)
Luxembourg-domiciled Subsea7 has used tugs and soft mooring lines connected to a jacket for barge docking for the first time without the deployment of anchors on the seabed to complete installation works at an oil and gas project off the coast of Saudi Ar
Oil & Gas Trade
19-10-2024

Rockhopper Wins Extension for Falklands Assets as It Sheds Two Italian Ones
According to Rockhopper, the insurance policy will enable the combination of the second tranche payment and the insurance payout to leave the firm with €31 million if Italy manages to have the award of the Ombrina Mare field fully or partially an
LNG
19-10-2024

Saipem Cheers Overturning of Two-Year Ban on Public Contracting Activity in Brazil
After the Controladoria-Geral da União (CGU) looked into accusations against Saipem, a subsidiary of the Italian energy multinational Eni, regarding involvement in irregularities with Petrobras, which allegedly occurred during the execution of
Natural Gas
19-10-2024

Texas Natural-Gas Pipeline Eases Bottlenecks, Paves Way for Higher Shale Output
A new pipeline carrying shale natural gas from west Texas toward export hubs on the U.S. Gulf Coast has eased constraints that crashed local prices this year, and will help pave the way for higher U.S. oil production, energy executives said.Pipeline compa
Oil&Gas Drilling
18-10-2024

Expansion of Qatar’s Huge 30-Year-Old Oil Field Brings Subsea Cable Order to Hengtong
China-based power cable system solutions provider Hengtong Submarine Power Cable, a wholly-owned subsidiary of Hengtong Group, has confirmed that HMN Technologies will manufacture and construct the submarine fiber optic cable system, including branch unit
Oil&Gas Drilling
18-10-2024

Transocean Drillship Gets Another Drilling Job in Gulf of Mexico
Switzerland-based offshore drilling contractor Transocean has secured a new long-term ultra-deepwater drillship assignment with an undisclosed operator in the U.S. Gulf of Mexico, where the rig is already carrying out drilling operations for an oil major.
Oil & Gas Trade
18-10-2024

ABS Brings Swiss Player on Board FPSO Project Being Undertaken for Petrobras
FPSO Almirante Barroso operating on the Búzios field in the pre-salt layer of the Santos Basin; Source: Petrobras News AgencyThe American Bureau of Shipping (ABS), a classification society, has hand-picked Switzerland-headquartered structural p
LNG
18-10-2024

Prysmian, Nexans, and Fulgor to Submit Final Offers in Submarine Power Cable Battle for Greek Interconnectors
Greek energy investment firm Copelouzos Group has formed a strategic partnership with Egypt’s state-owned gas player, Egyptian Natural Gas Holding Company (EGAS), to transport the latter’s liquified natural gas (LNG) through the recent
LNG
18-10-2024

Cheniere Energy Moves Closer to Starting New Texas LNG Export Operation
Cheniere Energy (LNG.N), moved one step closer to producing first liquefied natural gas from a Corpus Christi, Texas, expansion project on Thursday after it received permission from federal regulators to put a supply line into operation.Cheniere is the la
LNG
18-10-2024

Energy Transfer Signs KBR, Technip Energies to Build Louisiana LNG Plant
Pipeline operator Energy Transfer (ET.N), has signed a preliminary contract with a consortium to build its proposed Lake Charles liquefied natural gas (LNG) plant, a filing with federal regulators on Thursday shows.The Technip Energies and KBR deal is sub
Oil & Gas Trade
18-10-2024

China’s September Refinery Output Falls for the Sixth Straight Month
China's refinery output fell 5.4% last month versus a year earlier, official data showed on Friday, declining for a sixth consecutive month even with the start-up of a new plant as weak fuel consumption and skinny refining margins curbed processin
Oil & Gas Trade
18-10-2024

Eurozone Industry Makes Gains Ahead of ECB Meeting
Eurozone industry rebounded in August, offering a ray of optimism for the beleaguered factory sector as European Central Bank policymakers prime to cut interest rates again.Industrial production increased 1.8% on month across the 20 members that use the e
Crude Oil
18-10-2024

U.S. Crude Oil Stockpiles Fall Unexpectedly
U.S. crude oil stocks fell unexpectedly last week as refineries raised their capacity use and a decline in imports offset an increase in production to a record level, according to data released Thursday by the U.S. Energy Information Administration.Commer
Oil & Gas Trade
18-10-2024

Energy & Utilities Roundup: Market Talk
1506 ET – Oil futures settle higher in a day of ups and downs. The EIA reported an unexpected weekly crude stock draw, with lower imports offsetting an increase in U.S. production. News that Israel killed Hamas leader Yahya Sinwar prompted some
Oil&Gas Drilling
18-10-2024

Totalenergies Expects Continued Refining Weakness, Lower Hydrocarbon Production
TotalEnergies TTE 0.76%increase; green up pointing triangle said continued pressure on refining margins would take a toll on its downstream results for the third quarter, while hydrocarbon production would decline slightly from the previous quarter.The Fr
Oil & Gas Trade
17-10-2024

FPSO Offshore Brazil Sees First Oil Sooner Than Planned
Offshore BrazilWhile the start of production was initially scheduled for 2025, the FPSO Maria Quitéria working in the Jubarte field produced its first oil on October 15. After a naming ceremony was held at Cosco Shipping Heavy Industry (Shangha
Oil & Gas Trade
17-10-2024

Phillips 66 to Shut Oil Refinery, End Gasoline Output in Los Angeles
Los Angeles-area oil refineryPhillips 66 (PSX.N), said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California's fuel supply amid complaints about the state's high prices.Phillips 66 CEO Mark La
LNG
16-10-2024

Russia Seeks Over $1 Billion in Damages From Shell, Report Says
The Russian General Prosecutor's office was seeking to collect more than 1 billion euro ($1.09 billion) in damages from international energy major Shell (SHEL.L), the RIA news agency reported on Tuesday, citing the Moscow Arbitration court.Russia&
LNG
16-10-2024

EU Energy Ministers Discuss Ukraine Energy Crisis, Russian LNG
EU energy ministers met in Luxembourg on Tuesday to discuss the bloc's rising Russian LNG imports, Ukraine's energy shortages ahead of winter and how to balance energy prices across member states, officials said.The EU agreed a 14th packag
LNG
16-10-2024

Sinopec Says East China Shale Oil Field Pumping at 1,600 Tons a Day
The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British ColumbiaSinopec (600028.SS), is advancing development of shale oil at its pilot project Jiyang in east China, pump
Oil & Gas Trade
16-10-2024

Conocophillips Seeks to Keep Priority as Creditor in Citgo Auction
ConocoPhillips (COP.N), has filed a court motion to preserve the U.S. oil producer's almost top priority among Citgo Petroleum creditors to cash proceeds from an auction of shares in the parent of the Venezuela-owned company.Citgo is the only asse
Australia
16-10-2024

Top Aussie Oil and Gas Firm Woodside Lifts Outlook After Record Q3 Production
A plant decorates the booth of Australian petroleum exploration and production company Woodside EnergyAustralia's top energy firm Woodside (WDS.AX), marginally raised its annual output expectations on Wednesday after record production for the quar
Oil&Gas Drilling
16-10-2024

Exxon Seeks Buyers for Portion of Assets in North Dakota’s Bakken Shale
Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustrationTop U.S. oil producer Exxon Mobil Corp (XOM.N), plans to sell a portion of its assets in North Dakota's Bakken shale formation.Following a wave of megamerg
Oil & Gas Trade
15-10-2024

TotalEnergies Expects Lower Q3 Results Amid Outages, Shrinking Refining Margins
French oil major TotalEnergies (TTEF.PA), opens new tab expects its third-quarter downstream results to sharply decrease due to a 65% drop in refining margins in Europe and elsewhere, the company said on Tuesday amid a drop in global oil prices.Shares in
Oil&Gas Drilling
15-10-2024

Shelf Drilling All Done With Triangular Merger
UAE-headquartered offshore drilling contractor Shelf Drilling (SHLF)UAE-headquartered offshore drilling contractor Shelf Drilling (SHLF) has wrapped up a business combination structured as a triangular merger between its indirect subsidiary SHLF MergCo, S

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