Saudis To Raise At Least $11.2 Billion from Aramco’s Share Sale
The Kingdom of Saudi Arabia is poised to raise at least $11.2 billion from the ongoing secondary offering of shares in Saudi oil giant Aramco, Bloomberg reported on Friday, citing anonymous sources with knowledge of the matter.The Saudi government is …
China’s Sinopec to Build Gas Pipelines for Saudi Aramco in $1-Billion Deal
A subsidiary of China’s energy giant Sinopec has signed a $1.3-billion deal with Saudi Aramco to procure and build pipelines for an expansion of the Kingdom’s natural gas distribution network, the Chinese firm said on Thursday.Under the turn-key fix…
Colombia Risks Economic Slowdown Amid Natural Gas Shortage
Colombia’s economy could soon be hit by soaring energy costs as the South American country is considering LNG imports to meet rising natural gas demand while its domestic production slumps. Large gas and energy-intensive industries could be hit hard…
Erdogan Says Turkmenistan Could Soon Begin Gas Exports to Turkey and Europe
Turkmenistan could soon begin exporting natural gas to Turkey and then Europe via the expanded Trans Anatolian Natural Gas Pipeline Project (TANAP), Turkey’s President Recep Tayyip Erdogan was quoted as saying on Tuesday. Turkmenistan, rich in natur…
South Korea to Explore for Potentially Huge Offshore Oil and Gas Reserves
South Korea’s President Yoon Suk Yeol endorsed on Monday a plan for drilling off the east coast of one of the world’s largest oil and gas importers, to explore what studies say are potentially vast resources of crude oil and natural gas. The area …
Vermont Makes Big Oil Pay for Climate Change Damage in Landmark Law
The state of Vermont has just enacted a law that would take on oil companies to require them to pay for damage caused by their emissions, in a first such legislation in a U.S. state. The bill, S.259, ‘An act relating to climate change cost recovery,’…
Chevron Close to Signing Natural Gas Exploration Deal With Algeria
Algeria’s state-owned energy firm Sonatrach expects to sign in the coming days an agreement with Chevron that is set to boost the country’s natural gas production, Algerian Energy Minister Mohamed Arkab has said. The deal with the U.S. supermajor wi…
Canada Could Lose $55 Billion in Oil Investment if Emissions Cap Is Implemented
Canada’s oil and gas industry could lose US$55 billion (C$75 billion) in upstream investment by 2035 if the federal government implements a stringent 40% emissions cap from 2030, the Canadian Association of Petroleum Producer (CAPP) says, citing a re…
Oil and Gas Investments in Norway Set for Record-High in 2024
Companies are expected to spend a record-high level of investment on oil and gas extraction and pipeline transportation in 2024 offshore Norway, thanks to higher expected spending on exploration and field developments, Statistics Norway said on Tuesda…
Guyana Would Welcome the Entry of Chevron Into Its Oil Industry
Guyana would welcome U.S. firm Chevron joining the major oil projects that its peer Exxon is currently developing offshore the South American country, Guyana’s President Irfaan Ali has told the Financial Times.Chevron has proposed a multi-billion all…
UAE To Hit Its Oil Capacity Increase Sooner Than Expected
The United Arab Emirates is set to achieve its oil production capacity goal ahead of schedule, with the Abu Dhabi National Oil Co. (Adnoc) expected to reach a capacity of 5 million barrels per day by the end of 2025 or early 2026, surpassing its origi…
Europe’s Natural Gas Prices Rally amid Supply Concerns
European benchmark natural gas prices rallied on Wednesday and early Thursday amid growing supply concerns and forecasts of lower wind power generation later this week.The Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, hit on …
Shell Plans Major Work at Its Largest German Oil-Processing Complex
Shell is planning extensive work and a turnaround at the Energy and Chemicals Park Rheinland near Cologne, Germany’s biggest oil-refining complex, in the autumn of 2024, Bloomberg reported on Wednesday, quoting sources with knowledge of the plans.The…
TotalEnergies to Develop $6-Billion Oil Project Offshore Angola
TotalEnergies and its partners have decided to move ahead with a $6-billion deepwater oil project offshore Angola, the French supermajor said on Tuesday.TotalEnergies is the operator and holder of 40% in Block 20/11 where the deepwater Kaminho project…
Saudi Crude Oil Exports Rose To 9-Month High in March
Saudi Arabia, the world’s top crude oil exporter, saw its crude shipments rise in March to the highest level in 9 months, the latest data by the Joint Organizations Data Initiative (JODI) showed on Monday. Saudi crude exports rose by 96,000 barre…
Europe Imports Russian Oil Products via Turkey, Skirting Sanctions
A recent report by the Centre for Research on Energy and Clean Air (CREA) and the Center for the Study of Democracy (CSD) reveals that the European Union (EU) has imported EUR 3 billion worth of oil products from Turkish ports that predominantly handl…