Oil

Crude Oil

Latin America’s Crude Exports Drop In August

Exports of crude oil and condensates from Latin America, excluding Venezuela, have fallen so far in August compared to high levels in July

Crude Oil

More U.S. Sour Crude Heads to Germany to Replace Russia Oil

A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as …

LNG

Australia’s Santos to Proceed With $2.6 Bln Alaska Oil Project

Santos Ltd will proceed with its $2.6 billion Alaskan oil project, the Australian energy producer said on Wednesday after posting a four-fold jump in first-half…

Crude Oil

Shell to Shut Gulf of Mexico Crude Pipes for 2 Weeks in September

Shell on Tuesday said it plans to shut for two weeks in September a key crude oil pipeline in Gulf of Mexico that supplies oil to Louisiana refineries.

Crude Oil

Barclays Sees Crude Surplus in Near-Term, Cuts Brent Price View

Barclays lowered its Brent price forecasts on Tuesday by $8 per barrel for 2022 and 2023, as it expects a large surplus of crude oil over the near-term due to "…

Oil & Gas Supply

Europe’s Efforts to Shield Households From Soaring Energy Costs

Europe is facing a sharp rise in power bills driven by sky-rocketing gas prices, as war in Ukraine and European sanctions on Russia heighten concerns over the s…

Oil Field

Norway’s Climate Choice: Old Oil, Gas Fields Switch to Green Power or Close Early

Norway will have to phase out some of its old oil and gas fields prematurely to achieve its 2030 climate goals, unless it can use carbon-free power on more offs…

Oil Shale

Oil Output in Permian to Rise to Record High in September -EIA

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd i…

CCS

Oil Industry Gears up to Tap U.S. Climate Bill for Carbon Capture Projects

Tax credits in the $430 billion U.S. climate and tax bill set to be signed into law this week will kickstart carbon sequestration projects, say oil and gas prop…

Natural Gas

Germany Hits 75% Gas in Storage Goal Ahead of Schedule

Germany reached in the middle of August its target to have its natural gas storage 75% full, two weeks ahead of plans, data from Gas Infrastructure Europe showe…

Crude Oil

Switzerland Considers Switching to Oil for Power Plants

Amid a looming energy crisis, Switzerland could turn to oil for electricity production in the winter in case of an emergency, Swiss Energy Minister Simonetta So…

Natural Gas

Heatwave Sends European Gas Prices Higher

Europe’s benchmark gas prices at the Dutch TTF hub increased by 2% to $215.50 per MWh on Monday.

Natural Gas

German Households Will Foot the Bill for New Gas Tax

A new natural gas tax designed to keep importers afloat amid an energy crisis prompted by the war in Ukraine is set to cost German families, who will have to fo…

Natural Gas

Russian Gas Flows to Europe Stable

Warning signs are pictured in front of the gas compressor station, a part of Polish section of the Yamal pipeline that links Russia with western Europe which is…

Crude Oil

It’s Time for an Oil and Gas Boom in Africa

There are plenty of promising oil and gas opportunities in Africa, but the global transition away from carbon-intensive energy sources makes it a controversial …