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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

Natural Gas
31-10-2024

Japanese Firm Doles Out $1.4 Billion To Come Aboard Woodside’s Mega Gas Project
Woodside and JERA executed a binding sale and purchase agreement in February 2024 for the sale of a 15.1% non-operating participating interest in the Scarborough JV, covering the Scarborough gas field and associated offshore and subsea infrastructure for
Oil & Gas Trade
31-10-2024

Shell Q3 Profits Of $6 Billion Beat Forecast As Gas Offsets Weak Refining
Shell reported on Thursday third quarter profits of $6 billion that exceeded forecast by 12% as weaker refining and oil trading results were offset by higher gas sales.Shell's adjust earnings, its definition of net profit, fell 4% from the previou
Crude Oil
31-10-2024

Marathon Oil Cuts 500 Houston Jobs Ahead of ConocoPhillips Takeover
Marathon Oil Corp. warned of a mass layoff involving more than 500 employees at its Houston headquarters as part of the $17 billion takeover by ConocoPhillips, according to state filings.The affected workers may reasonably expect to experience a permanent
Oil & Gas Trade
31-10-2024

Nigeria Sees Objections to Shell Oil Asset Sale Resolved Soon
Nigeria’s upstream oil regulator found some issues with Shell’s proposed sale of its onshore assets to a consortium of local companies but they should be resolved soon, said Olu Verheijen, President Bola Tinubu’s special advi
Oil&Gas Drilling
30-10-2024

Kinetiko Spuds Second Well In Production Test Program In South Africa
South Africa-focused gas exploration company Kinetiko Energy Ltd. spudded the 271-06PT well in the Mpumalanga Province. This is the second well in the company’s five-well production test program, it said in a media release.The well is located ne
Natural Gas
30-10-2024

Tax Hikes Hinder Gas Price Drop, Raise Electricity Costs
espite reductions in the cost of energy, supply and network services (-2% compared to second half of 2023), total prices slightly increased (+2%), as governments scaled back subsidies, allowances, and tax cuts for consumers (total taxes rose by 16%, from
Natural Gas
30-10-2024

Big Oil Sees AI Boom Driving ‘Crazy Demand’ for US Natural Gas
A surge in energy demand from technology giants that are rapidly developing cloud computing and artificial intelligence — known as hyperscalers — is becoming a major boon for the fossil fuel industry.That’s was the view of Murray Auchincloss, ch
Oil Price
30-10-2024

Oil steadied after a two-day decline on the prospect for a further easing of hostilities in the Middle East, with the market shifting its attention to global supply balances and OPEC+’s production out
Storage tanks at the BP Plc Cherry Point Refinery near Blaine, Washington, U.S., on Friday, Nov. 19, 2021. Total U.S. oil stockpiles, including commercial inventories of crude and refined products, fell by the most in 11 weeks, dropping by 12.1 million ba
Oil Price
29-10-2024

BP Beats Estimates Despite Lower Oil Prices
FTSE 100 oil giant BP has reported strong-than-expected earnings for the third quarter.On Tuesday, it posted an underlying replacement cost profit, used as a proxy for net profit, of $2.3bn (£1.8bn) for the three months to 30 September.The figur
Oil Price
29-10-2024

Oil Steadies After 6% Plunge With Focus on Mideast Risk, US Data
Oil steadied — after tumbling the most in more than two years on Monday — as the market focused on the prospect for easing hostilities in the Middle East and upcoming US economic data.Brent was near $72 a barrel after plummeting 6.1% in the previous sessi
Oil & Gas Supply
29-10-2024

US Seeks Up To 3 Million Barrels Of Oil For Emergency Reserve
The U.S. on Monday said it is seeking up to 3 million barrels of oil for the Strategic Petroleum Reserve for delivery through May next year, a purchase that would leave the government with little money to buy more until lawmakers approve more funds.The so
Natural Gas
28-10-2024

Beach Energy delivers first gas from Thylacine West to Otway Gas Plant
Beach Energy has announced the start of gas production from its Thylacine West 1 and 2 development wells in Australian waters, following their connection to the Otway Gas Plant.The Thylacine West wells are located in the Otway Basin, approximately 70km of
Oil&Gas Drilling
28-10-2024

Prima Rejuvenating Oilfield Offshore Indonesia
Prima Energy has kicked off a development drilling campaign aimed at boosting production from its mature Camar field offshore East Java, Indonesia.The Indonesian operator is drilling two new wells – Camar West-1 and -2 on the Camar field, which
Oil & Gas Trade
28-10-2024

ExxonMobil Is Back In Cyprus
ExxonMobil’s commitment to the region is proved by its extension to Egypt and Greece and renewed interest in CyprusIt has been over two-and-a-half years since ExxonMobil last drilled in Cyprus’ EEZ, but the company is about to come bac
Natural Gas
28-10-2024

Landmark Court Case Sees Activist Group Sue Gas Giant Santos For Allegedly Misleading Investors
Gas giant Santos told investors it had a clear plan to achieve net zero emissions by 2040 but had no evidence to back it up, the Federal Court has heard during the first morning of litigation against the gas giant.Shareholder activist group the Australasi
Oil & Gas Trade
28-10-2024

Italy’s Eni, BP Resume Onshore Drilling In Libya After 10-year Hiatus
Italian energy company Eni and British oil giant BP have resumed exploration in Libya after onshore drilling was halted in 2014, Libya’s national oil corporation (NOC) said.NOC also said in a statement that Eni had started drilling in an area of
Oil & Gas Supply
26-10-2024

SBM Offshore’s Behemoth FPSO Steps Into Brazil To Work At Petrobras’ Mega Deepwater Field
The Netherlands-based SBM Offshore is closing in on the first oil from its new floating production, storage, and offloading (FPSO) unit as the vessel has reached Brazilian waters and will be deployed at a huge field in the pre-salt Santos Basin off the co
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

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