ADNOC Eyes U.S. Trading Expansion in Strategic Global Push
Abu Dhabi National Oil Company (ADNOC) is poised to establish a trading desk in the United States, marking a significant step in its strategic global expansion. Sources with knowledge of the plan revealed to Reuters that the UAE-backed oil and gas gia…
China Could See Record-High LNG Imports in 2024
China could beat its 2021 all-time high of LNG imports this year, as industrial and commercial sectors are set to drive demand for the super-chilled fuel, an official at state-held energy giant PetroChina said on Wednesday.Chinese LNG imports hit a re…
Putin to Visit China to Discuss Energy Ties
Russian President Vladimir Putin is set to visit China on May 16-17 for discussions with President Xi Jinping, in part to discuss expanding energy and trade partnerships.The state visit, initiated by Xi, will cover topics such as Chinas Belt and Road …
Russian Fuel Cargos Pile Up at Sea as South Korean Buyers Grow Cautious
Russian oil product cargos are piling up at sea as their South Korean buyers grow reluctant to go through with their deals amid a government crackdown on sanction evasion, Bloomberg has reported, citing unnamed sources.According to Kpler data, there a…
South Africa May Limit Shell's Drilling Licenses After Its Downstream Exit
South Africa has hinted that Shell could receive fewer oil exploration licenses after the supermajor decided to sell its downstream business in the country, Mineral Resources and Energy Minister Gwede Mantashe told Bloomberg in an interview published …
Brazil's Oil Giant Must Assess the Impact of Drilling on Indigenous Communities
Brazil’s environmental protection agency has required state-held oil and gas giant Petrobras to conduct a series of studies on how its plan to drill in an environmentally sensitive area offshore the mouth of the Amazon River would impact indigenous c…
Brazil's Oil Giant Must Assess the Impact of Drilling on Indigenous Communities
Brazil’s environmental protection agency has required state-held oil and gas giant Petrobras to conduct a series of studies on how its plan to drill in an environmentally sensitive area offshore the mouth of the Amazon River would impact indigenous c…
Norway Expands Arctic Acreage for Oil and Gas Drilling in Mature Areas
Norway is expanding the acreage in the Barents Sea and the Norwegian Sea, for which companies vying for licenses in mature areas can bid this year, the energy ministry of Western Europe’s largest oil and gas producer said on Wednesday. Following…
Russian Fuel Cargos Pile Up at Sea as South Korean Buyers Grow Cautious
Russian oil product cargos are piling up at sea as their South Korean buyers grow reluctant to go through with their deals amid a government crackdown on sanction evasion, Bloomberg has reported, citing unnamed sources.According to Kpler data, there a…
ADNOC Terminates Talks to Buy Into Brazilian Petrochemicals Firm
The Abu Dhabi National Oil Company (ADNOC) has terminated talks to buy a stake in Brazil’s petrochemicals company Braskem from its controlling company Novonor, Braskem said on Monday.At the end of last year, the state oil giant of the United Arab Emi…
UK Awards 31 New North Sea Oil and Gas Exploration Licenses
The UK’s North Sea Transition Authority (NSTA) offered on Friday another 31 licenses for North Sea exploration in the final tranche of the 33rd oil and gas licensing round. In all three tranches of the licensing round, the UK regulator has awarded o…
NOG Beats Estimates on Strong Permian Production
Northern Oil and Gas, Inc. (NOG) posted adjusted net income of $130.5 million, or $1.28 per adjusted diluted share, for the first quarter.The company’s adjusted EBITDA in the first quarter was $387.0 million, which was a 19 percent increase year over…
U.S. LNG Exports Continue to Fall as Freeport Plant Struggles With Outages
Exports of liquefied natural gas (LNG) from the United States fell in April for a fourth month in a row, as the Freeport export facility continues to struggle with operational issues and outages, according to data from financial firm LSEG U.S. LNG…
OPEC’s Oil Production Falls in April
OPEC’s crude oil production fell in April, according to a new Reuters survey, with news of the fall likely to add support to falling oil prices.According to the survey, the results of which were released on Tuesday, OPEC’s crude oil production fell …
PetroChina Books Its Highest Ever Q1 Profit
PetroChina reported on Monday its highest net profit for a first quarter as its revenues rose by 11% thanks to steady oil prices and higher domestic natural gas demand and production. The Chinese state-held oil and gas giant booked $6.3 billion (45…
Namibia Racks Up Another Major Offshore Oil Discovery
Shares of Portuguese integrated energy operator Galp Energia (OTCPK:GLPEF) (OTCPK:GLPEY) have popped more than 20% in Monday’s early trading session after the company announced that the first phase of its exploration in the Mopane field in offshore N…