Ghana LNG Import Terminal Nearing Finish Line—and None Too Soon
Ghana’s much-delayed natural gas import terminal is nearing the finish line and is expected to be complete by the end of this year, the country’s oil regulator said on Tuesday.The LNG pipeline and storage network and import terminal, owned by Tema L…
Oil and Gas Firms Hold Crisis Talks Over UK Windfall Tax Plan
Major oil and gas firms are set to hold crisis talks this week to discuss concerns about Labour’s windfall tax plans for the sector.Industry body Offshore Energy UK (OEUK) will host the meetings, which will take place on Tuesday and Thursday.“We rem…
Iraqi Kurdistan Oil Export Restart Still A Way Off
There is no forecasted date for when oil exports from Iraq’s semi-autonomous Kurdistan region to Turkey will resume, a Patriotic Union of Kurdistan (PUK) leader said on Friday.On the sidelines of the Munich Security Conference on Friday, Bafel Talabi…
Firms Hike Spending on Oil and Gas Activity Offshore Norway in 2024
Total investments in oil and gas activity offshore Norway, including pipeline transportation, are estimated to hit $23 billion (244 billion Norwegian crowns) this year, up by 5% compared to last quarter’s assessment, Statistics Norway said on Thursda…
Shell Expects Global LNG Demand To Jump by 50% by 2040
Global demand for liquefied natural gas (LNG) is expected to surge by 50% by 2040, driven by higher demand from Asia, with coal-to-gas switching in China and a boost in LNG consumption to fuel economic growth in South and Southeast Asia, Shell said on…
OPEC Sees World Oil Demand Increasing by 1.8 Million Bpd in 2025
World oil demand next year is expected to increase by 1.8 million barrels per day, OPEC said in its latest Monthly Oil Market Report released on Tuesday.OPEC sees the demand for crude oil rising by 1.8 million bpd to 106.2 million barrels per day next…
Trinidad & Tobago Declares National Emergency after Ghost Ship Oil Spill
The prime minister of Trinidad and Tobago has declared a “national emergency” following a large offshore oil spill in the eastern Caribbean. “This is a national emergency and therefore it will have to be funded as an extraordinary expense,” Rowley…
Shell Resumes Oil Delivery to Nigerian State Refinery Set for Q1 Restart
Shell has restarted crude oil deliveries from its Nigerian terminal to one of the country’s state-owned refineries, which is expected to resume operations this quarter after refurbishment. Shell Nigeria delivered 475,000 barrels of crude oil from …
Standard Chartered: Expect Very Little Growth In U.S. Oil Supply In 2024
Last year, U.S. crude production surged to all-time high, blunting efforts by OPEC+ to keep global markets constrained, and Energy Intel has predicted that robust non-OPEC oil supply is likely to cap oil prices even in the event demand surprises to th…
Petrobras Discusses Joint Projects With Other National Oil Companies
Brazilian state oil and gas company Petrobras is discussing potential cooperation in energy projects with other national oil companies (NOCs) from the Middle East, China, and India, Petrobras CEO Jean Paul Prates told Reuters on Wednesday.The NOCs wit…
Germany to Subsidize 10 GW of New Natural Gas Power Plant Capacity
Germany will tender 10 gigawatts (GW) of new natural gas-fired capacity from power plants that could be converted to hydrogen in the 2030s, as part of plans to ensure stable electricity supply as wind and solar power generation and installations grow.…
Exxon: Biden’s Halt To LNG Project Approvals is ‘A Mistake’
The pause in new LNG export project approvals announced by the Biden Administration last week is “a mistake” as it would actually hold back global efforts to reduce emissions, ExxonMobil’s CFO Kathy Mikells told Bloomberg in an interview published …
Saudis Are Diverting More Oil Exports to Avoid Southern Red Sea
Amid rising Red Sea shipping risks due to attacks on vessels from Yemen’s Houthis, Saudi Arabia has increased exports from its northern Red Sea terminal to avoid the danger zone, according to Bloomberg and Reuters. Oil exports from Saudi Arabia’s Mu…
Germany Plans Large Share Sale of Nationalized Energy Major Uniper
Germany has started exploring options to sell a large stake in energy giant Uniper, which the government nationalized in 2022, with a possible share offering at the end of this year or next year, sources with knowledge of the plan told Bloomberg on We…
OPEC+ Plans to Keep Oil Production Cuts Unchanged
The OPEC+ group doesn’t have any plans to alter the current oil production policy and cuts when the alliance’s monitoring panel meets next week, OPEC+ delegates told Bloomberg on Friday.OPEC’s Joint Ministerial Monitoring Committee (JMMC), which ta…
Asia and Africa Oil Imports Jump to Record High on Cheap Russian Crude
Asia and Africa, which replaced Europe as the primary destinations of Russian crude oil, rushed last year to import cheaper crudes from Russia, boosting Asian and African overall crude oil imports to record highs, according to tanker-tracking data fro…