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…
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…