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Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
01-04-2025

China’s COOEC Starts Shell Nigeria’s Gas Project
China Offshore Oil Engineering Company (COOEC) began fabricating key components for Shell’s HI shallow-water gas and condensate project offshore Nigeria. Located in Offshore Mining Licence (OML) 144, the development includes a three-level topsid
Oil&Gas Drilling
01-04-2025

Oil Production Starts at Equinor’s Norwegian Field, Ushering in ‘New Era’ for Barents Sea
Norwegian state-owned energy giant Equinor has successfully started production at the Johan Castberg field in the Barents Sea, marking a significant milestone in the region. The field, which is expected to produce for 30 years, began operations on March 3
Oil Shale
01-04-2025

Japan’s Tokyo Gas Expands in US Shale Gas With Chevron Deal
TG Natural Resources LLC (TGNR), a company owned by Tokyo Gas and Castleton Commodities International, recently acquired a 70% stake in Chevron’s east Texas gas assets for $525 million. This move marks a significant expansion for TGNR, which is
Oil Price
01-04-2025

Petrobras Lowers Diesel Prices for First Time in More Than a Year
Petrobras lowers diesel prices for the first time in over a year, impacting fuel costs in Brazil. The state-run oil company announced a 4.6% cut in diesel prices, reducing the price per liter to 3.55 reais ($0.6197), effective April 1. Gasoline prices rem
Natural Gas
01-04-2025

Shell Warns Australia’s Gas Reservation Plan Could Worsen Shortages
On May 3, as Australia approaches its general election, energy has become a key political issue. The conservative Liberal-National coalition has pledged to tackle rising power bills and potential gas shortages on the east coast through a gas reservation s
LNG
31-03-2025

US Player Tasked With Taking Alaskan LNG Project to Finish Line
The Alaska Gasline Development Corporation (AGDC) has teamed up with Glenfarne Alaska LNG, an affiliate of Glenfarne Group, to become the majority owner of a proposed liquefied natural gas (LNG) export project in Alaska. Under the deal, Glenfarne will acq
Oil Field
31-03-2025

China’s CNOOC Discovers 100 Mln-Ton Oilfield in South China Sea
The China National Offshore Oil Corporation (CNOOC) has discovered an oilfield in the South China Sea with proven reserves exceeding 100 million tonnes on Monday.The logo of China National Offshore Oil Corporation (CNOOC) is seen at its booth during the C
Oil & Gas Trade
31-03-2025

PetroChina Reports Record 2024 Net Income on Higher Production
PetroChina (601857.SS), Asia's largest oil and gas producer, on Sunday said annual net profit rose 2% to a record high, as moderately higher production helped to offset lower oil prices.A 3D printed natural gas pipeline is placed in front of displ
Oil Refinery
28-03-2025

Suncor Finds Source of Spill at Sarnia Refinery
Canada's Suncor Energy (SU.TO), said on Thursday it had identified and isolated the source of a hydrocarbon spill observed during regular monitoring at its 85,000-barrel-per-day refinery in Sarnia, Ontario.Suncor Energy facility is seen in Sherwoo
Crude Oil
27-03-2025

Crude Oil Exports by Mexico’s Pemex Rise 33% in February From January
Crude oil exports by Mexican state energy company Pemex (PEMX.UL) grew 33% in February compared to January, recovering from a tumble the month before but still down 25% compared to February 2024.A view of the state oil company Pemex's Olmeca refin
Natural Gas
26-03-2025

Drilling Starts on Romanian Black Sea Offshore Gas Project That Challenges Russia
Drilling at Romania's Neptun Deep offshore gas project began in the Black Sea on Sunday, its owners said on Tuesday, putting one of the EU's largest gas deposits on track for production in 2027 that could help ease the shift from Russian g
LNG
25-03-2025

LNG Canada to Start Cooldown of Plant Next Week in Final Step Before First LNG
An LNG tanker is expected to arrive in Canada on April 1 to start cooling down LNG Canada's plant in Kitimat, British Columbia, considered the final step before the plant begins production of the superchilled gas.A 225,000-m3 storage tank, one of
Gas Pipeline
29-03-2025

BP Rakes in $1 Billion From Sale of Partial Stake in Pipeline Carrying Gas From Field off Azerbaijan
UK-headquartered energy giant BP has struck a deal with Apollo-managed funds to divest a minor non-controlling stake in BP Pipelines (TANAP), the firm’s subsidiary that holds its interest in Trans-Anatolian natural gas pipeline (TANAP), owner an
Oil Field
24-03-2025

Oilfield With 100 Million Tons of Shale Oil Reserve Certified in E.china
The Shengli Oilfield, under China Petrochemical Corp (Sinopec Group), the country's largest oil refiner, said its Jiyang shale gas oilfield has officially passed a review and documentation process at the Ministry of Natural Resources to become Chi
Crude Oil
24-03-2025

Iraq’s Kurdistan Crude Output at 286,000 Bpd, Oil Minister Says
Iraq’s Kurdistan region is producing 286,000 barrels of crude oil per day, Iraqi oil minister Hayan Abdel-Ghani told state television on Sunday, citing secondary sources.OPEC+ uses secondary sources to help monitor its output as a legacy of hist
Oil&Gas Drilling
21-03-2025

Trump Administration to Open More Alaska Acres for Oil, Gas Drilling
U.S. Interior Secretary Doug Burgum on Thursday announced steps to open up more acreage for oil and gas leasing and lift restrictions on building an LNG pipeline and mining road in Alaska, carrying out President Donald Trump's executive order to r
Crude Oil
20-03-2025

EIA Raises USA Crude Oil Production Forecast
The U.S. Energy Information Administration (EIA) raised its U.S. crude oil production forecast for 2025 and 2026 in its latest short term energy outlook (STEO), which was released recently.The U.S. Energy Information Administration raised its U.S. crude o
Natural Gas
23-03-2025

Northwind Midstream Advances Projects in New Mexico
Northwind Midstream Partners LLC said it has advanced several midstream projects in New Mexico, underpinned by long-term commitments and more than 165,000 dedicated acres from several of the basin’s leading public and private independent oil and
Gas Pipeline
19-03-2025

Brazil’s Government Wants Lower Prices for Natgas Pipeline and Processing, Minister Says
Brazil could cut prices for firms to access gas pipelines and natural gas processing units, in a bid to lower consumer prices, Brazil's Minister of Mines and Energy Alexandre Silveira said on Tuesday.Minister of Mines and Energy of Brazil Alexandr
Oil & Gas Trade
18-03-2025

Venezuela’s PDVSA to Keep Producing, Exporting Oil Previously Handled by Chevron, Document Says
Venezuela's state-run PDVSA has put together three operational scenarios as part of a plan to continue producing and exporting oil at its largest joint venture with Chevron (CVX.N), once a license for the U.S. major to operate in the country expir
LNG
17-03-2025

Hanwha Ocean Wins W2.3tr LNG Carrier Order From Evergreen Marine of Taiwan
Hanwha Ocean Co. said Monday it has secured a 2.3 trillion-won ($1.59 billion) order from Evergreen Marine Corp. of Taiwan to build six ultra-large liquefied natural gas carriers.This photo, provided on Monday, shows a recent contract signing ceremony bet
Oil&Gas Drilling
16-03-2025

TechnipFMC Signs Deepwater Exploration Agreement With India’s Largest Private E&P Co.
Cairn Oil & Gas, part of Vedanta Group and India’s largest private oil and gas exploration and production company, has entered into a strategic alliance with TechnipFMC to accelerate the delivery of integrated subsea infrastructure for futur
Crude Oil
16-03-2025

Nigerian Player Sets Sights on Offshore Production Ramp-Up, Targeting 20+ Wells in 2025
Nigeria’s oil and gas company Seplat Energy aims to drive transformation in Nigeria, partly by increasing offshore oil and gas production in 2025.While speaking at an industry event in Nigeria, Chief Executive Officer of Seplat Energy, Roger Bro
Oil&Gas Drilling
14-03-2025

BP Plans to Explore for New Oil in Azeri Caspian Sea
BP (BP.L), plans to explore for new oil fields in the Azeri Caspian Sea, BP's upstream chief Gordon Birrell told.Logo of British Petrol BP is seen at petrol station in Pienkow, Poland, June 8, 2022.BP is already working on stemming declining outpu
Oil&Gas Drilling
13-03-2025

China Extends Subsidies for Unconventional Gas Drilling
China is extending a subsidy program to support unconventional natural gas drilling as it continues to push for new domestic supplies to ensure energy security.China is extending a subsidy program to support unconventional natural gas drilling as it conti

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Oil Prices Post 3% Annual Decline