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Oil & Gas
Oil Price
Oil Prices Post 3% Annual Decline
Natural Gas
21-05-2025
North Sea Operator Takes Steps to Boost Its Stake in UK’s Largest Gas Field
Ithaca Energy, a UK North Sea oil and gas operator, has signed an agreement to acquire an additional 46.25% operated interest in the Cygnus gas field from Spirit Energy. The purchase, valued at £116 million (approximately $154 million), is based
Crude Oil
21-05-2025
India Plans to Spend $10B on Homebuilt Oil Tanker Fleet
India plans to invest 850 billion rupees (approximately $10 billion) through 2040 to acquire 112 crude oil carriers, according to sources familiar with the matter. This initiative is part of the country’s effort to strengthen its energy transpor
Oil Field
21-05-2025
New Oil Discovery Springs up in Norwegian Waters
Aker BP, a Norwegian oil and gas company, has announced a new oil discovery in the Norwegian Sea, approximately 6 kilometers southwest of the Skarv field’s floating production, storage, and offloading (FPSO) unit. The discovery, located in produ
Natural Gas
21-05-2025
Qatar’s North Field East Gas Expansion to Begin Output in Mid-2026
Qatar’s North Field East Gas Expansion to Begin Output in Mid-2026QatarEnergy announced that its North Field East natural gas expansion project is set to commence production in mid-2026, according to Chief Executive Saad al-Kaabi. The statement,
Crude Oil
20-05-2025
China’s Crude Oil Imports From Russia Fall in April; Imports From Malaysia Surge
In April, China imported 8.07 million metric tons of crude oil from Russia, equivalent to 1.96 million barrels per day (bpd), according to data released by Chinese customs on Tuesday. This marked a 12.9% decrease compared to the same period last year. On
LNG
20-05-2025
TotalEnergies Signs Canada LNG Agreement With Ksi Lisims LNG
On Monday, French energy company TotalEnergies announced a significant agreement with Ksi Lisims LNG to purchase 2 million tons of liquefied natural gas (LNG) annually for 20 years from a planned liquefaction facility on Canada’s Pacific coast.
LNG
20-05-2025
US Department of Energy to Begin Issuing Orders for Pending LNG Export Permits
On Monday, the U.S. Department of Energy (DOE) announced it will begin reviewing and deciding on pending applications to export liquefied natural gas (LNG) to countries without free trade agreements with the United States. This decision follows the releas
RNG
19-05-2025
City of Hastings Nebraska Approves 25-Year RNG Agreement With Newcarbon
NewCarbon has entered a 25-year partnership with Hastings, Nebraska, to transform methane emissions from the Hastings Sanitary Landfill into renewable natural gas (RNG). The initiative will capture methane produced by decomposing organic waste, process it
Crude Oil
19-05-2025
Venezuela’s State Oil Firm Exporting Crude Grade Previously Shipped by Chevron, Data Shows
Venezuela’s state-owned oil company, PDVSA, has started exporting a heavy crude oil grade previously handled by Chevron since 2022, according to maritime data and documents. This shift follows the cancellation of shipments to Chevron due to paym
Natural Gas
19-05-2025
Turkey Finds New Natural Gas Reserve in Black Sea, Erdogan Says
On Saturday, President Tayyip Erdogan announced the discovery of a 75 billion cubic meter (bcm) natural gas reserve in the Black Sea, uncovered during drilling operations. The find, located in the Goktepe-3 well at a depth of 3,500 meters, holds an estima
LNG
16-05-2025
Italy’s Edison Welcomes Inaugural LNG Cargo From Louisiana Plant
Italian energy company Edison has successfully received its first liquefied natural gas (LNG) shipment from the Calcasieu Pass facility in Cameron Parish, Louisiana, operated by U.S.-based Venture Global. The delivery marks the beginning of a long-term su
Oil Pipeline
16-05-2025
Nigeria’s Trans Niger Oil Pipeline Bursts, Spills Crude, Rights Group Says
An environmental rights group reported a rupture in Nigeria’s Trans Niger Pipeline, a vital channel for transporting crude oil from onshore fields to the Bonny export terminal on Thursday, May 15, 2025. The spill, which began on May 6, 2025, has
Crude Oil
16-05-2025
Chevron, European Firms Lobby to Keep Stakes in Venezuela Oil Joint Ventures
Chevron Corp, a U.S. oil company, along with several European firms, is engaging with the U.S. administration to secure permissions to maintain their stakes in joint ventures with Venezuela’s state-owned PDVSA, according to three informed source
Oil Field
15-05-2025
Nigeria Says Exxon Commits $1.5b to Deepwater Development
Exxon Mobil Corp. has committed $1.5 billion to develop a deepwater oil field in Nigeria, as the country seeks to increase its oil production. The investment, planned for the next two years, targets the Usan field’s production revival, according
Natural Gas
15-05-2025
EIA Expects USA Gasoline Price to Drop In 2025 and 2026
The U.S. Energy Information Administration (EIA) has released its latest short-term energy outlook (STEO) on May 6, forecasting a decline in U.S. regular gasoline retail prices for 2025 and 2026. According to the EIA, the average price for regular gasolin
LNG
15-05-2025
Germany’s Next LNG Terminal Chapter Nearly All-Set to Go Live
In Wilhelmshaven, Germany, the state-owned Deutsche Energy Terminal (DET), under the Federal Ministry for Economic Affairs and Climate Action, is preparing to launch the country’s second liquefied natural gas (LNG) terminal, Wilhelmshaven II. Th
Oil Field
15-05-2025
Gulf of Thailand Oil Field Revamp Gets Green Light
Valeura Energy has approved redevelopment of its 100%-owned Wassana field in license G10/48, Gulf of Thailand, with a new central processing platform (CPP). The project, extending the field’s life to 2043, targets first oil in Q2 2027 and peak p
Oil Price
15-05-2025
US Oil Prices Drop More Than $1 as Inventory Build Raises Oversupply Fear
U.S. crude futures dropped more than $1 in early trading on Thursday after unexpected data showed an increase in U.S. crude oil inventories, sparking concerns about potential oversupply.An oil pumpjack is pictured in the Permian basin, Loco Hills regions,
LNG
15-05-2025
Venture Global Urges FERC to Reaffirm Approval for Louisiana LNG Project
Venture Global, a U.S. liquefied natural gas (LNG) company, is seeking approval from the Federal Energy Regulatory Commission (FERC) to proceed with the construction of its CP2 plant in Louisiana by June 26. This request, outlined in a letter to FERC Chai
Oil Field
14-05-2025
Murphy Discovers More Oil in Cuu Long Basin Offshore Vietnam
Murphy Oil Corp. has announced a significant oil discovery in Block 15-1/05, located in the Cuu Long Basin offshore Vietnam. The exploration well Lac Da Hong-1X, also known as Pink Camel, encountered 106 feet of net oil pay from a single reservoir after b
LNG
13-05-2025
Shell’s LNG Canada Plans First Exports as Soon as Late June
Shell Plc’s liquefied natural gas (LNG) project, LNG Canada, located on Canada’s western coast, is nearing completion and preparing to start overseas sales as early as late June 2025. This facility, the first large-scale LNG export ter
Crude Oil
13-05-2025
Iraq to Reduce Crude Oil Exports in May and June, Official Says
Iraq intends to export 3.2 million barrels per day (bpd) of crude oil in May and June, according to an Iraqi official familiar with the matter. This volume represents a notable decrease from previous months, aligning with the country’s commitmen
Crude Oil
13-05-2025
US House Budget Bill Seeks More Than $1.5 Billion for Strategic Petroleum Reserve
A U.S. House committee unveiled a budget proposal on Sunday, allocating over $1.5 billion to restore and maintain the Strategic Petroleum Reserve (SPR), the world’s largest emergency crude oil stockpile. The plan also cancels a previously mandat
Crude Oil
13-05-2025
Mexico’s Pemex Plans to Export Less Crude Oil as New Refinery Starts Up, Official Says
Mexico’s state-owned oil company, Pemex, expects to decrease crude oil exports this year as it directs more supply to domestic refineries, particularly the new Olmeca refinery, according to a company official. The shift aims to boost local proce
Crude Oil
12-05-2025
China’s Recovery in Crude Oil Imports Is More Bearish Than Bullish
China, the world’s largest crude oil importer, reported a slight increase in imports for the first four months of 2025, reaching 11.83 million barrels per day (bpd), a 0.5% rise compared to the same period in 2024. In April 2025, imports totaled
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Most views from Oil & Gas
1
Turkmenistan Expands Oil Production at Uzynada Field
2
Nigeria’s Dangote Refinery Says It Can Deliver 1.5 Billion Litres of Petrol in December
3
Russia’s Rosneft Reports 70% Fall In 9-Month Net Income
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Gastech 2023 - Shaping the future of energy
5
$4 Billion Deal in Hand as ADNOC Scores 20-Year Gas Supply Assignment
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UK Eases North Sea Oil and Gas Licensing for Existing Fields