Oil

LNG

Energy Spending to Hit Record High of over $2t in 2022: Report

​Global energy spending in 2022 is expected to reach a record high of more than $2t, driven by the surging oil, gas and power prices, Rystad Energy projected.

CCS

World’s Biggest Carbon Capture Project: Shute Creek’s “Sell or Vent” Business Model Isn’t Working

Delving into the world’s largest carbon capture project, ExxonMobil’s Shute Creek CCUS facility, reveals a highly questionable technology.

Natural Gas

EU, Egypt to Boost Cooperation on Natural Gas, Cabinet Says

Egypt and the European Union will enhance cooperation in energy, the Egyptian cabinet said after a meeting between Prime Minister Mostafa Madbouly and Frans Tim…

CNOOC

China's CNOOC to Raise up to $5.08 Billion From Share Issue

Chinese oil giant CNOOC Ltd said on Monday it will raise between 28.08 billion yuan and 32.29 billion yuan ($4.41 billion to $5.08 billion) by issuing new share…

LNG

U.S. Gas Storage Emptied by Exports to Europe and Asia

U.S. gas prices have climbed to their highest level in more than a decade as strong demand from overseas has emptied storage and left inventories well below ave…

Natural Gas

Oil and Gas to Catapult Global Energy Spending to Record Highs in 2022, Rystad Says

Surging oil, gas and power prices together with EU’s goals of becoming less dependent on Russian supplies and post-Covid-19 pandemic inflation will catapult gl…

United Kingdom

Ithaca Energy Gains Access to Two of the Largest Undeveloped Discoveries in UK North Sea

North Sea-focused Ithaca Energy has reached an agreement to acquire Siccar Point Energy for a price tag of nearly $1.5 billion. This is Ithaca’s second expansi…

Natural Gas

Price Volatility and Rising Demand Revive U.S. Natural Gas Trading

Natural gas trading is seeing a renaissance in the United States with the return of price volatility, while market turmoil in Europe could keep gas demand and e…

Hydrogen Project

Polish Oil Refiner to Invest €1.6bn in Hydrogen Projects by 2030

PKN Orlen has announced it will invest PLN 7.4bn on low and zero-carbon hydrogen development projects by 2030 to help build a hydrogen economy in Europe.

Crude Oil

IEA Moving Ahead with Collective Oil Stock Release of 120 Million Barrels

The International Energy Agency (IEA) has confirmed it will release 120 million barrels of oil.

Hydrogen Production

India Joint Venture Aims to Produce Green Hydrogen at Scale

Indian Oil Corporation has teamed up with Larsen & Toubro and ReNew Power to develop the nascent green hydrogen sector in India.

Oil Price

Shell Raises Russia Writedown to as Much as $5 Billion

Shell will write down up to $5 billion following its decision to exit Russia, more than previously disclosed, while soaring oil and gas prices boosted trading a…

Hydrogen Project

Kent and CGG Join for Carbon Capture and Hydrogen Projects

Oil and gas company Kent and technology business CGG have joined forces to develop carbon capture and hydrogen technologies.

LNG

China Signs Another Deal to Buy US LNG

US-based Next Decade will supply China’s ENN with 1.5 million tonnes per year (mtpy) of liquefied natural gas (LNG) for 20 years starting as early as 2026 from…

Crude Oil

Oil Sinks Toward $100 as EU Avoids Curbs on Crude, Dollar Gains

Oil fell as the European Union eschewed sanctions on Russian oil flows for now and a stronger dollar blunted the appeal of commodities.