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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
17-05-2024

Bulgaria Demands €400 Million From Gazprom for Suspended Gas Supplies
Bulgarian state-owned gas company Bulgargas is seeking more than €400 million in damages from Russian gas monopoly Gazprom Export-Import for the sudden suspension of natural gas supplies at the end of April 2022.Gazprom halted supplies to Bulgari
Oil&Gas Drilling
17-05-2024

Indonesia Expects Oil and Gas Investments to Rise 29% to $17 Billion in 2024
Indonesia expects investments in its oil and gas sector to rise 29% in 2024, the chairman of regulator SKK Migas told Reuters, as it races to ramp up drilling and exploration following the recent exits of global giants Shell (SHEL.L), opens new tab and Ch
Oil&Gas Drilling
17-05-2024

New Dutch Coalition Aims for More Offshore Gas Extraction, Nuclear Energy
The incoming Dutch government said on Thursday it will aim to expand offshore natural gas extraction and nuclear energy production as part of plans to reduce the Netherlands' dependence on "unreliable countries."In its draft coalition pa
Oil&Gas Drilling
17-05-2024

Exclusive: Chevron Prepares for North Sea Exit After More Than 55 Years
Chevron (CVX.N), opens new tab said it is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years.The planned divestment, confir
Oil&Gas Drilling
17-05-2024

Crescent Energy Expands Texas Shale Ops With $2.1 Billion Silverbow Buy
Oil and gas producer Crescent Energy (CRGY.N), opens new tab has agreed to buy rival SilverBow Resources (SBOW.N), opens new tab for $2.1 billion, a deal which would create the second-largest operator in the Eagle Ford basin in south Texas.The agreement c
Oil & Gas Trade
16-05-2024

Stake in Shell's UK Gas Field Enables Norwegian Player to Bolster North Sea Portfolio
DNO Exploration UK Limited, a wholly owned subsidiary of Norway’s oil and gas firm DNO, has enriched its North Sea portfolio with a new addition, thanks to the acquisition of an interest in a Shell-operated gas field located on the UK Continenta
LNG
16-05-2024

Japan's JERA to Invest $32 Billion in LNG, Renewables and New Fuels Over Decade
Japan's JERA plans to invest 5 trillion yen ($32.4 billion) over the coming decade into renewable energy, new fuels like hydrogen and ammonia, and liquefied natural gas (LNG), global CEO Yukio Kani told reporters on Thursday.By fiscal year 2035, J
Gas Power Stations
16-05-2024

Utility Plans Another Gas-Fired Power Plant for North Dakota
Todd Brickhouse, CEO of Basin Electric Power Cooperative, participates in a roundtable discussion on the energy supply during the Williston Basin Petroleum Conference at the Bismarck Event Center on May 15, 2024. (Michael Achterling/North Dakota Monitor)B
Oil&Gas Drilling
16-05-2024

Colombia Oil Output Closing in on 800,000 Bpd, Regulator Head Says
Colombia's average daily oil output is closing in on 800,000 barrels per day (bpd) even as the Andean country increasingly looks to boost renewable energies, the president of the National Hydrocarbons Association (ANH) regulator said.The governmen
LNG
16-05-2024

Qatar to Sign More Long-Term LNG Contracts This Year, Qatarenergy CEO Says
Qatar has not had difficulty securing long-term liquefied natural gas (LNG) contracts and will sign more this year, QatarEnergy CEO and State Minister for Energy Saad al-Kaabi said at an economic forum on Wednesday."We've actually secured 25
Oil & Gas Trade
16-05-2024

Gazprom CEO Miller Is in Iran as Putin Prepares to Visit China
Gazprom (GAZP.MM), opens new tab CEO Alexei Miller is on a working visit to Iran, the company said on Wednesday, just as President Vladimir Putin prepares to visit China with a high-level delegation for talks with Xi Jinping.Gazprom, the world's b
LNG
16-05-2024

Ships Queue at Freeport LNG Plant in Texas as Full Operations Resume
Storage tanks and gas-chilling units are seen at Freeport LNG, the second largest exporter of U.S. liquified natural gas, near Freeport, Texas, U.S., February 11, 2023. Reuters/Arathy Somasekhar/File Photo Purchase Licensing RightsLNG tankers began loadin
LNG
16-05-2024

China LNG Imports Could Hit Record Levels in 2024, Petrochina Official Says
Model of LNG tanker is seen in front of China's flag in this illustration taken May 19, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing RightsChina's liquefied natural gas imports could hit record levels in 2024, a Petr
Oil & Gas Trade
16-05-2024

Petrobras Shares Plunge as Brazil's Lula Swaps CEO, CFO
Brazil’s state-run oil company Petrobras Chief Executive Jean-Paul Prates attends an interview with Reuters in Rio de Janeiro, Brazil July 17, 2023. REUTERS/Ricardo Moraes/File Photo Purchase Licensing RightsBrazil's Petrobras (PETR4.SA)
Oil&Gas Drilling
15-05-2024

Woodside Making Strides in Developing Deepwater Gas Project
Australian energy giant Woodside Energy has discussed the inroads made in the development of its deepwater natural gas field off the coast of Trinidad with the country’s Ministry of Energy and Energy Industries. The negotiations on fiscal terms
Oil&Gas Drilling
15-05-2024

Patterson-UTI Signs Term Sheet to Partner With ADNOC Drilling in the UAE
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ("Patterson-UTI" or "the Company") today announced that its subsidiary, Patterson-UTI International Holdings, Inc., has signed a non-binding term sheet with ADNOC Drilling, the largest national
Oil & Gas Trade
15-05-2024

Iraq and Honeywell Sign Deals to Support Iraq's Energy Growth
The Iraqi government and Iraq’s private sector and Honeywell have signed a number of Memoranda of Understandings (MoUs). The MoUs will strengthen Iraq’s infrastructure as the nation deals with a growing demand for energy and power.The
Oil & Gas Trade
15-05-2024

India Oil Demand Driven by Consumers Rather Than Industry: Kemp
India’s oil consumption increased by 3.7 million tonnes (4.8%) in the first four months of 2024 compared with the same period in 2023, according to data from the government’s Petroleum Planning and Analysis Cell.Increased domestic cons
Oil & Gas Trade
14-05-2024

Indonesia Offers Five Oil and Gas Blocks in First Auction for 2024
Indonesia has offered five onshore and offshore oil and gas blocks in its first tender for the year amid efforts to reverse an extended production decline.Indonesia used to be a net oil exporter but this has changed as natural depletion and insufficient n
Oil & Gas Trade
14-05-2024

Slovakia Lays Plans to Receive Gas From Azerbaijan
Slovakia is laying the groundwork to receive gas from Azerbaijan through Ukraine, to further diversify its supplies away from Russia and revive earnings from transit to other countries, Prime Minister Robert Fico said on Monday.Fico said the drop in Russi
Oil & Gas Trade
14-05-2024

Azerbaijan Boosts Gas Exports – Minister
Azerbaijan has increased gas exports by 2.7 percent in the first four months of 2024, as compared to the same period in 2023, the country’s energy minister Parviz Shahbazov wrote on X, Trend reports.In January-April 2024, 4.2 bcm of gas was expo
Oil & Gas Trade
14-05-2024

India Signs Landmark 10-Year Agreement to Manage Strategic Iranian Port of Chabahar
India has signed a landmark 10-year agreement to manage the strategic Iranian port of Chabahar — a significant move that will help it crank up trade with Central Asia and ensure safe and secure transportation of crude oil from Iran while bypassing maritim
LNG
14-05-2024

Gazprom Using FSRU Marshal Vasilevskiy as LNG Tanker, LSEG Data Shows
A view shows the Gazprom logo installed on the roof of building in Saint Petersburg, Russia February 5, 2024. REUTERS/Anton Vaganov/File Photo Purchase Licensing RightsRussia's Gazprom (GAZP.MM), opens new tab is using a floating storage and regas
Oil & Gas Trade
14-05-2024

US Oil Output in Top Shale Regions to Hit Six-Month High in June, EIA Says
Oil pump jack is seen in front of displayed U.S. flag in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoPurchase LicensingRightsU.S. oil output from top shale-producing regions will rise in June to its highest in six m
Oil & Gas Trade
14-05-2024

Kuwait Petroleum Renews Oil Supply Deal With China's Unipec Until 2033
Kuwait Petroleum Corp (KPC) has renewed its contract to supply 300,000 barrels per day of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033, KPC said in a statement on Monday.

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UK Eases North Sea Oil and Gas Licensing for Existing Fields