NextDecade Inks 20-Year LNG Supply Deal with Guangdong Energy Group
NextDecade Corp. has entered a 20-year sale and purchase agreement (SPA) with Guangdong Energy Group for the supply of LNG from NextDecade’s Rio Grande LNG export project (RGLNG) in Brownsville, Texas.Under the SPA, Guangdong Energy Group will purcha…
IEA: High prices, uncertainty will slow growth in gas demand
High prices for natural gas and supply fears due to the situation in Ukraine will slow the growth in demand for the fossil fuel in the coming years, according to the International Energy Agency (IEA).In a report published Tuesday, the Paris-based agen…
Oil rises as tight supply trumps recession fears
Oil rose today as supply concerns driven by lower OPEC output, unrestin Libya and sanctions on Russia outweighed fears of demand-sapping global recession.Euro zone inflation hit yet another record high in June, strengthening the case for rapid Europea…
Nigeria Takes $1 Billion Hit in Q1 Revenue Due to Crude Oil Theft
(Reuters) — Nigeria lost $1 billion in revenue during the first quarter of this year due to crude oil theft, the petroleum regulator said on Friday, warning the practice was a threat to the economy of Africas topproducer.Nigeria loses millions of bar…
Spain Restarts Natural Gas Flows to Morocco on Maghreb-Europe Pipeline
(Reuters) — Natural gas has started flowing from Spain towards Morocco through a pipeline thatstopped flowing in November amid a diplomatic row between Morocco and Algeria, data from Spanish gas grid operator Enagas showed on Wednesday.Algeria decide…
Oil Likely To Hit $200: SEB Group
Oil prices are likely to soar past $200 per barrel if G7 manages to cap the price of Russian crude oil, according to chief commodities analyst at Swedish bank SEB Group.Bjarne Schieldrop, SEB analyst,said on Wednesday in no uncertain terms that the G7…
Greece Looking to Secure Deal with Italy for Gas Storage
(Reuters) — Greece has been in talks with Italy to see whether it can store gas in the neighboring country as part of efforts to secure supplies if Russian flows are disrupted, Greeces energy regulator said on Monday.European Union countries and lawm…
Oil prices rise 1% as UAE says it has no spare capacity; Brent crude reaches $116.17/bbl
By ReutersOil prices rose about 1% in early Asian trade on Tuesday after the United Arab Emirates energy minister said the nation is producing near capacity, countering expectations that it could help boost supply in a tight market.The UAE and Saudi A…
India’s L&T lands three “large” oil and gas offshore contracts from leading international client
By Nishant Ugal Indianengineering and construction giant Larsen & Toubro (L&T) has won three “large” offshore packages for its hydrocarbon business from anunnamed international client.L&T revealed the scope of workfor the new co…
India Moves to Modernize, Expand Gas Pipeline Network
By Gordon Feller, P&GJ Contributor Indian government says that it foresees an increase in the share of natural gas in the country’s energy mix – from 6% in 2021 to 15% by 2025. A total of $60 billion of new investment planned in the country’s …
China operates first smart oil refinery with 5G+ industrial internet
Chinas first intelligent oil refinery with a dual-frequency 5G-plus industrial internet went fully operational on Tuesday, its operator, the Huizhou Petrochemicals Company under China National Offshore Oil Corporation, announced. Located in Huizhou Ci…
Namibia’s largest oil discoveries may help double GDP by 2040
(Bloomberg) — Namibia expects its biggest oil discoveries since independence to help double its economy by 2040, Jennifer Comalie, chairperson of National Petroleum Corp. of Namibia, said in a Bloomberg TV interview.TotalEnergies SE in February said …
EIA: US Refining Capacity Sinks To Near Decade Low
Operable refining capacity in the United States hit a nearly decade low in 2022, the EIA’s latest Refining Capacity Report showed on Tuesday.U.S. refining capacity fell this year to 17.94 million barrels per day as of January 1, according to the late…
EU Signs Strategic Partnership With Oil, Gas-Rich Gulf Nations
The European Union today said it would form a “strategic partnership” with the Gulf Cooperation Council and its Member States “as part of enhancing engagement in the broader region,” the EU said on Monday in a publication of the council’s conclus…
China to ban new heavy industrial projects in key zones
SHANGHAI,June 17 (Reuters) - China will ban new steel, coking, oil refining, cement and glass projects in key zones, the government said on Friday ina wide-ranging policy document aimed at tackling pollution and meeting the countrys climate goals.Itsa…
U.S. steps up heavy crude imports as Biden blasts profiteering
HOUSTON, June 16 (Reuters) - U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil.Higher heavy-crude imports are common i…