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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
06-03-2024

Netherlands Won't Permit Gas Drilling in Sensitive Wadden Sea, Government Says
A person walks on ice on the Wadden Sea during the low tide near the island of Schiermonnikoog, the Netherlands, February 28, 2018. REUTERS/Cris Toala Olivares/File Photo Purchase Licensing RightsThe Netherlands will not permit companies to drill for gas
Oil & Gas Trade
06-03-2024

Oil Falls 1% on Concerns Over China's Economic Growth Plan
Miniatures of oil barrels and a rising stock graph are seen in this illustration taken January 15, 2024. REUTERS/Dado Ruvic/Illustration/file photo Purchase Licensing RightsOil prices fell nearly 1% on Tuesday, pressured by skepticism around China achievi
Oil & Gas Trade
05-03-2024

Democratic Republic of the Congo (DRC) Seeks to Unlock Estimated 5 Billion Barrels of Oil
With 180 million barrels of proven oil reserves – and up to 5 billion of estimated oil reserves – the Democratic Republic of the Congo (DRC) is embarking on an extensive exploration campaign to harness its resources for enhanced energy
Oil&Gas Drilling
05-03-2024

China's Landmark Deep-Earth Borehole Drilling Exceeds 10,000 Meters
A drone photo taken on March 2, 2024 shows the "Shenditake 1" borehole in the Taklimakan Desert in the Tarim Basin, northwest China's Xinjiang Uygur Autonomous Region. [Photo/Xinhua]The drilling of a superdeep borehole in northwest China
Gas Pipeline
05-03-2024

India Sees $4.95 Bln Investment for Natural Gas Network in Kashmir, Northeast
India expects investment of about 410 billion rupees ($4.95 billion) from companies to build natural gas pipeline infrastructure in its northeastern states and northern federal territories of Kashmir and Ladakh, a minister said on Monday.India, one of the
Oil & Gas Trade
05-03-2024

TC Energy to Sell Portland Natural Gas Transmission System for $1.14 Bln
The logo of energy transport firm TC Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Purchase Licensing RightsTC Energy (TRP.TO), opens new tab said on Monda
Oil & Gas Trade
05-03-2024

US Considers Selling Northeast Gasoline Reserve in 2024 in Draft Bill
Oil tankers stand attached to mooring stations near a refinery in Bayonne, New Jersey August 24, 2011. REUTERS/Lucas Jackson/ File Photo Purchase Licensing RightsThe United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 202
LNG
05-03-2024

Suriname's Staatsolie Signs Gas Exploration Deal with Petronas, Exxon
Suriname's Staatsolie said on Monday that Malaysia's Petronas and U.S. oil giant Exxon Mobil (XOM.N), opens new tab have agreed to extend exploration of a gas discovery off its coast, and are considering the potential for a floating LNG pr
Oil&Gas Drilling
04-03-2024

Diamond Offshore Clinches New $350M Drillship Deal with BP
Houston-based Diamond Offshore Drilling has secured a two-year contract extension with a subsidiary of BP in the US Gulf of Mexico for the seventh-generation drillship Ocean BlackHornet.The New York-listed driller said the new campaign starts in February
Oil&Gas Drilling
04-03-2024

ADX Ramps up European Gas Pursuit at Welchau Well
ADX Energy’s hunt for 807 billion cubic feet (Bcf) of European gas is continuing to gather steam, with the drilling of its Welchau-1 exploration well in Austria nearing the company’s targeted geological structure.Management confirmed t
Oil & Gas Trade
04-03-2024

Gurbanguly Berdimuhamedov Announces Possible Turkmen Gas Supplies to Europe
Officials from Turkmenistan and Turkey signed two preliminary agreements on Friday for the Central Asian country to supply gas to Turkey and onward to Europe, deals that would aid Ankara's bid to become a regional energy hub, Nikkei Asia reports.C
LNG
04-03-2024

Qatar's Bigger LNG Expansion to Squeeze US, Other Rivals
Qatar’s planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approval
Oil Price
04-03-2024

Several Countries Extend Oil Output Cuts to Boost Prices Amid Economic Uncertainty
The OPEC+ alliance on October 5, 2022, decided to sharply cut production to support sagging oil prices. © Michael Probest, APThe plan to extend cuts to mid-2024 comes on top of previous cuts to both oil output and exports as some of the world&
Oil Price
04-03-2024

Record US Oil and Gas Production Keeps Prices Under Pressure
Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Purchase Licensing RightsU.S. production of oil and gas set new seasonal records in December, capping off an unprecedented
Oil&Gas Drilling
04-03-2024

OPEC+ Members Extend Oil Output Cuts to Second Quarter
A view of the entrance to the Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger Purchase Licensing RightsOPEC+ members led by Saudi Arabia and Russia agreed on Sunday to ex
Oil Exploration
04-03-2024

FG Eyes 2.5 Million Barrels Daily Oil Production
Brent, the global benchmark for crude oil, witnessed a rise in price in the past three days, crossing $84/barrel on Friday, after trading for an average of $80/barrel in the past weeks.Its price rise came at a time the Nigerian government announced a new
LNG
04-03-2024

Philippines' Top Energy Firms Partner for $3.3 Bln LNG Facility
Three top Philippine energy firms have partnered for the first time to form a large-scale integrated liquefied natural gas (LNG) facility, the companies said on Sunday, in a deal two of them valued at $3.3 billion.Aboitiz Power (AP.PS), opens new tab and
Oil & Gas Supply
04-03-2024

Russia Says to Deepen Oil Output Cuts While Easing Export Limits
Fuga Bluemarine crude oil tanker lies at anchor near the terminal Kozmino in Nakhodka Bay near the port city of Nakhodka, Russia, December 4, 2022. REUTERS/Tatiana Meel/File Photo/File Photo Purchase Licensing RightsRussia will cut its oil output and expo
Oil & Gas Trade
04-03-2024

Iran to Reach 1.3 Bcm of Gas Output a Day in Five Years, Minister Says
Iran's gas output will reach 1.3 billion cubic metres (bcm) per day in five years, Iran's Oil Minister Javad Owji said on Sunday according to the semi-official Student News Network, up from 1.07 billion cubic metres per day currently.To &q
LNG
02-03-2024

US LNG Exports Fall in February on Outage and Fewer Calendar Days
A month-long closure at Freeport LNG plant in Texas and fewer days in the month pushed February U.S. liquefied natural gas exports 7% lower than in January, preliminary date from financial firm LSEG showed on Friday.The drop followed record shipments last
Oil Price
02-03-2024

Oil Climbs 2%, Notches Weekly Gains Ahead of OPEC+ Decision
Miniatures of oil barrels and a rising stock graph are seen in this illustration taken January 15, 2024. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing RightsOil prices rose 2% on Friday and posted weekly gains as traders awaited an OPEC+ d
Oil Pipeline
02-03-2024

MEG Energy Says Canada's Trans Mountain to Start Line Fill From April
The last section of pipeline is assembled on the Trans Mountain pipeline expansion project before operations are expected to begin in the second quarter of 2024, near Laidlaw, British Columbia, Canada, February 18, 2024. REUTERS/Chris Helgren/File Photo P
Oil Price
01-03-2024

Indian Government Hikes Windfall Tax on Petroleum Crude
A man pours petrol into an underground tank at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas/File Photo Purchase Licensing RightsThe Indian government hiked its windfall tax on petroleum crude to 4,600 rupees ($55.51) a metric
Oil & Gas Trade
01-03-2024

UAE's ADNOC Closes Acquisition of 24.9% Stake in Austria's OMV
Abu Dhabi National Oil Company (ADNOC) said on Thursday it has formally closed the acquisition of a 24.9% stake in Austrian oil and gas group OMV (OMVV.VI), opens new tab from Abu Dhabi sovereign wealth fund Mubadala Investment Company.The financial terms
Oil & Gas Trade
01-03-2024

Trinidad and Tobago Extends Deadline for Shallow-Water Oil and Gas Auction
Trinidad and Tobago on Thursday extended by almost two months a deadline to submit bids for an auction of shallow-water oil and gas blocks, the government said.Trinidad is Latin America's largest producer of liquefied natural gas (LNG) with instal

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Turkmenistan Expands Oil Production at Uzynada Field

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$4 Billion Deal in Hand as ADNOC Scores 20-Year Gas Supply Assignment

Russia’s Rosneft Reports 70% Fall In 9-Month Net Income

Gastech 2023 - Shaping the future of energy

UK Eases North Sea Oil and Gas Licensing for Existing Fields