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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
19-06-2025

BW Opal FPSO Arrives at Barossa Field, Commissioning Underway
Australia’s Santos Ltd. announced that the BW Opal floating production, storage, and offloading (FPSO) vessel has arrived at the Barossa gas field, marking a key step toward first gas production in the third quarter of 2025. The FPSO, now hooked
LNG
18-06-2025

Woodside Energy Signs LNG Supply Deal With Petronas Unit
On June 18, 2025, Australia’s Woodside Energy (WDS.AX) announced a new agreement with a subsidiary of Malaysia’s Petroliam Nasional (IPO-PETO.KL). The deal involves the supply of 1 million tonnes of liquefied natural gas (LNG) per year
Crude Oil
17-06-2025

China Builds a Crude Oil War Chest Amid Middle East Tensions
China's crude oil stockpiles continue to grow as the nation refines less than its combined imports and domestic production, maintaining its position as the world's largest oil importer. In May, the surplus reached 1.4 million barrels per d
Oil Refinery
16-06-2025

China’s May Refinery Throughput at 9-Month Low on Plant Overhauls
China’s crude oil throughput declined by 1.8% year-on-year in May, reaching its lowest level since August 2023, according to official data released on Monday. The National Bureau of Statistics (NBS) reported that the country processed 59.11 mill
LNG
13-06-2025

JERA Enters Long-Term Deals to Buy Up to 5.5 MMtpa of US LNG
JERA Co. Inc., a Japanese power utility, has signed agreements with six U.S. liquefied natural gas (LNG) projects to purchase up to 5.5 million metric tons per annum (MMtpa) over 20 years. The deals, announced in Washington, involve projects across Texas
Oil Field
13-06-2025

PSC Extension Secured for Totalenergies’ Angolan Deepwater Block
TotalEnergies and its partners have signed an extension to the production sharing contract (PSC) for Block 17, one of Angola’s most productive offshore oil blocks. The agreement reinforces the consortium’s long-term operations in the r
LNG
12-06-2025

GAIL Completes First LNG Discharge at Dabhol
GAIL (India) Ltd., a state-owned company, has successfully completed the first berthing and discharge operation at its Dabhol LNG terminal in Maharashtra, India. The vessel GAIL Bhuwan was received at the facility following the completion of a breakwater
Natural Gas
12-06-2025

Trio Lands $5B Contracts to Support ADNOC’s Gas Output Expansion
ADNOC Gas, a subsidiary of Abu Dhabi National Oil Company, has finalized its investment decision for the first phase of the Rich Gas Development (RGD) project, marking a significant step in optimizing gas assets and accessing new gas reserves. This phase
FLNG
11-06-2025

SHI Starts Assembling Canada-Bound FLNG
On May 26, 2025, Samsung Heavy Industries (SHI) held a topside steel cutting ceremony at its shipyard in South Korea, marking a significant milestone for the Cedar LNG project near Kitimat, British Columbia, Canada. The event marked the beginning of const
LNG
11-06-2025

Rising Asia Temperatures Bode Well for US LNG Export Prospects
Forecasts for above-average temperatures in key Asian markets through August 2025 are expected to increase demand for U.S. liquefied natural gas (LNG) exports, which have already reached record highs this year. Higher temperatures in Japan, South Korea, a
Oil Field
10-06-2025

Chinese Giant Augments Hydrocarbon Production as Oilfield Project Goes Live
China National Offshore Oil Corporation (CNOOC), a state-owned oil and gas company, has commenced production at the Weizhou 5-3 oilfield development project in the South China Sea. Located in the Beibu Gulf Basin with an average water depth of about 35 me
Gas Pipeline
09-06-2025

Canada’s Pipeline With Potential LNG Link Cleared to Move Forward
NW Infrastructure Limited Partnership, a collaboration between Western LNG and the Nisga’a Nation, has received approval from Canada’s British Columbia Environmental Assessment Office (EAO) to proceed with construction of the Prince Ru
Gas Pipeline
06-06-2025

Canadian Regulator Says Prince Rupert Gas Transmission Pipeline Project Has Started
British Columbia’s Environmental Assessment Office announced on Thursday that the Prince Rupert Gas Transmission (PRGT) natural gas pipeline project has achieved significant progress. This ensures the project’s 2014 environmental asses
Natural Gas
05-06-2025

China’s Largest Coalbed Methane Field Reaches Milestone Output
By the end of May 2025, the Daning-Jixian coalbed methane field in Shanxi Province, northern China, achieved a cumulative gas production of over 3.6 billion cubic meters, equivalent to more than 2.8 million tonnes of oil and gas, according to PetroChina C
Natural Gas
05-06-2025

Canada’s Propane Exports Soar 9.2% in 2024 as Gas Output Grew
Canada’s Propane Exports Soar 9.2% in 2024 as Gas Output GrewOn Wednesday, the Canada Energy Regulator reported a notable increase in Canadian propane and butane exports for 2024, driven by higher natural gas production. The data revealed that p
LNG
04-06-2025

$28 Billion LNG Export Project Breaks Ground in Louisiana
Venture Global, a U.S.-based liquefied natural gas (LNG) producer, has begun site work for its CP2 LNG export project in Louisiana, marking its third facility in five years. The project, located in Cameron Parish, aims to supply LNG to global markets star
LNG
03-06-2025

US LNG Exports Declines in May From April’s Record
In May 2025, U.S. liquefied natural gas (LNG) exports decreased to 8.9 million metric tons from a record 9.3 million metric tons in April, according to preliminary LSEG ship tracking data. The decline was attributed to reduced output at multiple U.S. faci
Oil Field
02-06-2025

OKEA Makes New Oil Discovery in North Sea’s Brage Field
Norwegian energy company OKEA, along with its partners, has confirmed a new oil discovery in the southern part of the Prince prospect at the Brage field in the North Sea. The find, announced in May 2025, was made in wildcat well 31/4-A-23 G, while a nearb
LNG
30-05-2025

Sempra’s Port Arthur Phase 2 Wins US Approval to Export LNG
Sempra Energy, a U.S.-based energy company, received approval from the U.S. Department of Energy on Thursday to export liquefied natural gas (LNG) from its Port Arthur Phase 2 project in Texas to markets in Europe and Asia. This marks the first final LNG
Oil Refinery
30-05-2025

Petroecuador Declares Emergency at Ecuador’s Biggest Refinery After Fire Damages
Petroecuador, Ecuador’s state-owned oil company, announced a 60-day emergency at the Esmeraldas refinery, the country’s largest, on Thursday, following a fire that damaged several fuel tanks earlier this week. This marks the second eme
Natural Gas
29-05-2025

Natural Gas Flows to Freeport LNG Export Plant in Texas Drop Wednesday, Sources Say
On Wednesday, natural gas flows to the Freeport LNG export facility in Texas decreased, according to two sources familiar with the matter. This reduction likely led to a temporary decrease in liquefied natural gas (LNG) production at the plant.Storage tan
Oil&Gas Drilling
28-05-2025

NIDC Drilling Operations Complete 20 Wells in Two Months
The National Iranian Drilling Company (NIDC) successfully completed the drilling of 20 onshore oil and gas wells over a two-month period ending May 21, utilizing its own rigs. This milestone highlights the company’s progress in its drilling prog
Oil Field
28-05-2025

EnQuest Restarts Production at UK Field After Four-Week Hiatus
EnQuest, a London Stock Exchange-listed energy company, has resumed production at its Magnus field in the UK sector of the North Sea following a four-week pipeline system outage that halted operations in late April 2025. Repairs at the Ninian Central Plat
LNG
27-05-2025

South Africa Proposes Buying US LNG as Seeks Trade Deal
South Africa has proposed importing liquefied natural gas (LNG) from the United States over a 10-year period to strengthen trade ties, according to a statement by Minister in the Presidency Khumbudzo Ntshavheni. The announcement, posted on the South Afric
Oil Refinery
27-05-2025

Ecuador’s Biggest Oil Refinery Stops Operating as Precaution Due to Fire
On Monday, a fire broke out in a fuel oil tank at Ecuador’s largest oil refinery, the Esmeraldas refinery, operated by state-owned Petroecuador. The blaze has been brought under control, according to Petroecuador and Ecuador’s energy m

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