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LNG
Stena Bulk Bids Farewell to Its Last LNG Tanker
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
LNG
29-02-2024
Totalenergies Inks 16-Year LNG Supply Deal with Sembcorp
French energy major TotalEnergies and Sembcorp Fuels, a wholly-owned subsidiary of Singapore-based Sembcorp Industries, have signed a sale and purchase agreement (SPA) for the long-term LNG delivery to Sembcorp.Illustration; Source: TotalEnergiesSpecifica
LNG
29-02-2024
EPS Inks Deals for Four Ammonia Dual-Fuel Bulkers, Two LNG Dual-Fuel Tankers
Singapore-based ship management company Eastern Pacific Shipping (EPS) has signed contracts with subsidiaries of China State Shipbuilding Corporation (CSSC) in Shanghai for a total of six new environmentally friendly vessels.Courtesy of EPSOn February 28,
LNG
29-02-2024
Global LNG Demand Seen Rising in 2024 From China, Europe
Model of LNG tanker is seen in front of China's flag in this illustration taken May 19, 2022. REUTERS/Dado Ruvic/Illustration/Files Purchase Licensing RightsGlobal liquefied natural gas (LNG) demand will grow in 2024 with top buyer China back in t
Oil & Gas Trade
29-02-2024
Pertamina to Intensify Exploration in Indonesia's East Amid Higher Oil, Gas Output Targets
Indonesia's state energy company Pertamina wants to intensify its exploration efforts in the country's eastern regions, a senior official said on Wednesday, as it targets higher oil and gas output in the coming years.The firm will also see
Oil Price
29-02-2024
Cuba Reschedules Five-Fold Retail Fuel Price Hike for March 1
People stand in line with their cars to fill up on fuel after Cuba's government put off a five-fold increase in gasoline prices planned for February 1 due to a cyberattack, according to Economy Vice Minister Mildrey Granadillo, in Havana, Cuba Jan
LNG
29-02-2024
BP Plans to Invest $1.5 Billion in Egypt Gas Projects
Signage is seen outside a BP (British Petroleum) petrol station in Liverpool, Britain, February 7, 2023. REUTERS/Phil Noble/File Photo Purchase Licensing RightsBP (BP.L), opens new tab is preparing to invest about $1.5 billion to develop gas projects and
Oil & Gas Trade
29-02-2024
Russia's Novak Rules Out Diesel Export Ban
Deputy Prime Minister of Russia Alexander Novak walks at the Organisation of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria October 5, 2022. REUTERS/Lisa Leutner/File Photo Purchase Licensing RightsRussian Deputy Minister Alexand
Natural Gas
28-02-2024
Bangladesh Raises Gas Prices for Power Plants
Bangladesh has raised gas prices for power plants by 0.75 taka ($0.0068) per unit to ease the subsidy burden, the energy ministry said on Tuesday, effective from this month.The move comes as the government is set to raise power tariffs from March.Under th
LNG
28-02-2024
Republic of Congo Debuts First Liquefied Natural Gas (LNG) Carrier, Paving the Way for Major Gas Exportation
The launch of the Republic of the Congo's first LNG carrier, emerging from the nation's premier Congo LNG Project, showcases the country's firm dedication to responsibly harnessing its natural resources and advancing towards a more
Coal Production
28-02-2024
China to Build Hydro and Gas, Upgrade Coal Fleet for a More Flexible Power System
Electrical pylons and power lines are seen in Yanqing district of Beijing, China December 17, 2021. REUTERS/Tingshu Wang/File Photo Purchase Licensing RightsChina's state planner has issued a strategy for the electric power system to more effectiv
Oil&Gas Drilling
28-02-2024
Mubadala Working on Expanding Gas Production at Malaysia's Pegaga Field -Exec
Mubadala Energy is working on expanding production capacity at the Pegaga gas field off the coast of Sarawak, Malaysia, Chief Operating Officer Stefano Raciti said on Tuesday."Gas demand is expected to peak ahead of 2040. At the same time, LNG (lique
Oil Price
28-02-2024
Oil Rises More Than $1/bbl as OPEC+ Mulls Extending Output Cuts
Oil rig pumpjacks, also known as thirsty birds, extract crude from the Wilmington Field oil deposits area near Long Beach, California July 30, 2013. REUTERS/David McNew//File Photo Purchase Licensing RightsOil prices rose more than $1 a barrel on Tuesday
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