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Oil & Gas
OPEC
OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period
Oil Price
30-12-2022
Oil Prices Drop as China’s Surging COVID-19 Cases Raise Demand Concerns
Countries are imposing travel restrictions on the world's largest crude importerPump jacks in Argentina. The outlook remains highly uncertain for oil markets, an Oanda analyst said. ReutersOil prices fell for a third straight day on Thursday as ri
Natural Gas
30-12-2022
Oman to Set Up Integrated Company to Manage Natural Gas Assets
Move is expected to improve the Gulf country's economic indicatorsOman, the largest non-Opec producer in the Middle East, expects to post a budget deficit in 2023. CorbisOman plans to establish an integrated gas company to manage all natural gas a
Oil Price
29-12-2022
Moscow Restrains Response to G7 Price Cap
A long-awaited decree signed by President Vladimir Putin this week prohibiting Russian oil exports to countries working under the G7 price cap was perceived as anticlimactic, and even an announcement last week of a possible decline in 2023 production fail
Oil Refinery
29-12-2022
Sanctions to Choke Russian Refining Sector
The outgoing year was a wild ride for Russia’s downstream, which pulled off a remarkable rebound after a dizzying, postwar decline.2023 promises even more turbulence once the EU’s Feb. 5 import ban on refining products goes into effect
Oil&Gas Drilling
29-12-2022
Somalia Rejects Genel Energy’s “Illegal Claim” to Oil Permits
NAIROBI, Dec 28 (Reuters) - Somalia rejected on Wednesday what it called an "illegal claim" by Genel Energy (GENL.L) to oil exploration and exploitation rights in the country's northern breakaway region of Somaliland, the country'
Oil & Gas Trade
29-12-2022
Putin Bans Export of Russian Oil to Countries That Implement Price Cap
Moscow: President Vladimir Putin Tuesday delivered Russia’s long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from February 1 for five months to nations that abide by the cap.The Gr
Oil & Gas Trade
28-12-2022
AD Ports Group Signs Major Agreements With Kazakh National Oil Company Subsidiary
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 28th Dec, 2022) AD Ports Group has signed a shareholder agreement with KMTF (Kazmortransflot), a fully-owned offshore logistics and services subsidiary of the Kazakh National Oil Company (KazMunayGas), t
Oil&Gas Drilling
28-12-2022
Allseas to Deliver ‘One of the Heaviest Offshore Installation Projects in History’
Allseas has won a contract with Aker BP for the delivery of offshore transport and installation (T&I) services for a new processing platform topsides facility with well bay area and living quarters.Allseas will provide offshore T&I services for th
LNG Carrier
28-12-2022
Yinson’s FPSO Stays in Nigeria
Malaysian FPSO provider Yinson has secured another contract extension with Addax Petroleum for a floating, production, storage, and offloading (FPSO) vessel carrying out operations in Nigeria.Yinson revealed on 22 December that it had received a new short
Oil&Gas Drilling
28-12-2022
IOG Sketches Well Plan for North Sea Gas Project
UK-headquartered IOG plc is planning to drill the second Blythe production well directly after the Southwark A1 well in the first half of 2023 as part of the Saturn Banks Project – Phase 1 in the UK Southern North Sea.In an announcement from 22
Oil & Gas Supply
28-12-2022
Turkey Announces Big Boost in Black Sea Gas Reserves
Upward projection could help Ankara realise its goal of becoming an energy hub for the regionScarabeo 9, a 115-metre-long, 78-metre-high Frigstad D90-type semi-submersible drilling rig, passes close to the July 15th Martyrs Bridge (Bosphorus Bridge) on th
Natural Gas
28-12-2022
Natural Gas Futures Prices Edge Higher as Models Tease Mid-January Cold; Production Still Way Down
With natural gas traders’ fingers and toes still thawing out from the weekend’s Arctic blast, most remained on the sidelines of the action on Tuesday. However, with the potential for cold to return before mid-January and U.S. productio
Oil&Gas Drilling
28-12-2022
Chinese Company Awarded Exploration Rights to Five Hydrocarbon Blocks in Mozambique
Sixth block awarded to Italy’s ENI; first period of exploration expected to allow investments of around US$370 million, and opening of four wells in deep waters.Photo courtesy of MZ NewsMozambique’s National Petroleum Institute (INP) h
Oil & Gas Trade
28-12-2022
Re Trade’ Starts, First Deals With Russia
Russian banks like Sberbank, VTB, Gazprom, BCS, MTS, Tinkoff, Soyuz, Credit Europe Bank (Russia), PSCB, Ros and JSCB have opened such accounts.Six of these accounts have been opened with IndusInd Bank, and one each with UCO Bank, HDFC Bank, Union Bank of
Oil Price
28-12-2022
Oil Reaches Three-Week High as China Relaxes COVID Limits
WASHINGTON, 27th December, 2022 (WAM) -- Oil touched a three-week-high Tuesday as China's latest relaxation of COVID-19 restrictions fueled prospects of a demand revival, while production in the United States was impacted by winter storms.Brent Cr
LNG
27-12-2022
Japan Inks LNG Deals With US, Oman in Bid to Secure Fuel Supply
A worker walks under pipelines at Jera Co.'s liquefied natural gas (LNG) fired power plant inside the company's Anegasaki Thurmal Power Station in Ichihara, Chiba Prefecture, Japan, on Wednesday, June 22, 2022. Jera, a joint venture betwee
Natural Gas
27-12-2022
Turkey boosts Black Sea natural gas reserves with new discovery and existing offshore work
(Bloomberg) — Turkey boosted its estimate of natural gas reserves in the Black Sea by nearly a third, thanks to appraisal work at an existing field and a separate discovery, President Recep Tayyip Erdogan said on Dec. 26.Turkey now predicts its offshore f
Oil Exploration
27-12-2022
Oil Explorer Inpex to Merge Tokyo Trading Unit Into Singapore Desk
TOKYO, Dec 26 (Reuters) - Japanese oil and gas explorer Inpex Corp (1605.T) plans to absorb its separate Tokyo trading business into the company in April 2024, with its operations integrated into its Singapore desk in stages.The move is aimed at expanding
Natural Gas
27-12-2022
Turkey’s Natural Gas Find in Black Sea Now Comes to 710 Bcm -Erdogan
Turkish President Recep Tayyip Erdogan attends a news conference with Hungarian Prime Minister Viktor Orban (not pictured) in Budapest, Hungary November 7, 2019. REUTERS/Bernadett Szabo/File Photo/File PhotoISTANBUL, Dec 26 (Reuters) - The total volume of
LNG
27-12-2022
Japan’s Mitsui, Itochu and Jera to Sign New Long-Term Contracts to Buy LNG From Oman -Nhk
The logo of Japanese trading company Mitsui & Co. is seen in Tokyo, Japan, January 10, 2018. REUTERS/Toru Hanai/File PhotoTOKYO, Dec 27 (Reuters) - Japan's trading houses Mitsui & Co (8031.T), Itochu Corp (8001.T) and Japan's bigge
Oil & Gas Trade
27-12-2022
Russia’s Sberbank Urges Glencore to Resolve Dispute Over Oil Bill
The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, September 30, 2015. REUTERS/Arnd WiegmannMOSCOW, Dec 26 (Reuters) - Sberbank (SBER.MM) on Monday accused Glencore (GLEN.L) of choosing
Oil Refinery
26-12-2022
Nigeria Will Auction 7 Hydrocarbon Blocks in Early 2023
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to hold the Mini Bid Round 2022, in which seven offshore blocks covering an area of approximately 6,700 km2 in water depths of 1,150m to 3,100m are put on offer. Pre-qualifi
Oil & Gas Trade
26-12-2022
Ip Signs Deal to Buy Exxonmobil’s Fuel and Refining Assets in Italy
The Italian private petroleum company Italiana Petroli (IP) has signed an agreement to purchase fuel and refining assets owned in Italy by Esso Italiana, a subsidiary of Exxon Mobil.IP will buy the whole of Esso Italiana fuel sales activities in Italy, th
Natural Gas
26-12-2022
India’s Gas Exchange (Igx) Launches Its First Nationwide Gas Price Index
The Indian Gas Exchange (IGX) has announced the launch of India’s first nationwide price index to reflect benchmark natural gas prices, named GIXI. IGX said the index has been developed with the purpose to derive a single price for the country i
LNG
26-12-2022
Eni Signs Deal to Deploy a Second Flng Unit in Congo
Eni has signed a contract with Wison Heavy Industry for the construction and installation of a Floating Liquefied Natural Gas (FLNG) unit with a capacity of 2.4 Mt/year, which will be deployed offshore the Republic of Congo. This facility will be the seco
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