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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
OPEC
08-01-2024
OPEC’s December Crude Production Averages 28.05mbpd
The Organisation of Petroleum Exporting Countries (OPEC) pumped an average of 28.05 million barrels a day, MMbpd in December as it persevered with supply restraints agreed earlier in the year.Equally, reductions by the United Arab Emirates and Angola were
Oil&Gas Drilling
08-01-2024
ONGC Initiates Oil Production From Its Deep-Water Asset
ONGC announces the successful commencement of First Oil from the deep-water KG-DWN-98/2 Block, situated off the coast of Bay of Bengal.This 98/2 project is likely to increase ONGC’s total Oil and Gas production by 11 percent and 15 percent respe
India
08-01-2024
Oil Slips on Large Saudi Arabian Price Cuts and Rising OPEC Output
Picture: REUTERSNew Delhi — Oil prices fell more than 1% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in Opec output, offsetting worries about escalating geopolitical tension in the Middle East.Brent crude slipped 1.09%, or 86c, t
Oil Field
08-01-2024
India Inks Contracts for 13 Hydrocarbon Blocks
India signed contracts for 13 hydrocarbon blocks opened for bidding in the last two years.India’s Petroleum and Natural Gas Ministry has signed contracts for 13 hydrocarbon blocks opened for bidding in the last two years.Of the new contracts, 10
LNG
08-01-2024
Vitol Inks 10-Year LNG Supply Deal With Gail India
Vitol will supply GAIL (India) Limited with approximately one million metric tons of liquefied natural gas (LNG) per annum for 10 years beginning in 2026.Vitol Asia Pte Ltd has signed a long-term deal to supply GAIL (India) Limited with approximately one
Natural Gas
08-01-2024
TMK ups Mongolian Gas Flow by 335 per Cent
Production at TMK Energy’s flagship Mongolian coal seam gas pilot project, Gurvantes XXXV, flourished through to the end of 2023, with the company recording its highest gas volume to date in December.The company’s three pilot wells &am
Oil&Gas Drilling
08-01-2024
Aker Puts Subsea Oil & Gas Tech to Work for Offshore Wind
Norwegian offshore technology company Aker Solutions is working with Norway's Marine Energy Test Centre to try out a new way to set up the power collection and transfer grid for offshore wind farms - specifically for floating installations, which
Oil & Gas Trade
08-01-2024
Nigerian and Chinese Energy Firms Seal $1BN Deal on Gas Flaring
A Nigerian energy company NIGUS International, have entered into a $1 billion agreement with Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd., a Chinese firm, to finance and advance solutions for gas flaring in Nigeria.The signing of this pac
LNG
08-01-2024
Woodside Energy Signs Domestic LNG Agreement With Pilbara Minerals
Woodside Energy is set to supply LNG to one of the world's largest hard rock lithium deposits. Source: ShuttershockWoodside Energy will use its Western Australia truck loading facility to supply domestic LNG to a Pilbara Minerals subsidiaryWoodsid
Oil Price
08-01-2024
Saudi Arabia Cuts Feb Arab Light Crude Price to Asia to 27-Month Low
Top oil exporter Saudi Arabia on Sunday cut the February price of its flagship Arab Light crude to Asian customers to the lowest level in 27 months, a company statement showed, amid competition from rival suppliers and concerns about supply overhang.Saudi
Renewable Energy
08-01-2024
Saudi Energy Ministry and NEOM Company Sign MoU on Cooperation in Energy Fields
The Saudi Ministry of Energy and NEOM company signed on Sunday a Memorandum of Understanding (MoU) on enhancing cooperation in the energy fields, the Saudi state news agency reported.
LNG
06-01-2024
Gail India Signs Long-Term LNG Supply Deal With Trader Vitol
GAIL (India) has signed a long-term LNG deal with Vitol, under which the top commodity trader will supply around 1 million metric tons of LNG annually for 10 years starting in 2026, the Indian state-held firm said on Friday.As part of the deal, Vitol will
Crude Oil
06-01-2024
Motiva to Shut CDU, Coker Next Week at Largest US Refinery -Sources
Motiva Enterprises (MOTIV.UL) is scheduled to shut the large crude distillation unit (CDU) and large coker at its 626,000 barrel-per-day (bpd) Port Arthur, Texas, refinery by Monday, people familiar with the company’s plans said on Friday.Motiva
Crude Oil
06-01-2024
Exclusive: India Set to Halve Oil Refiners' FY24 Energy Transition Equity Support
A man paints the logo of oil refiner Bharat Petroleum Corp (BPCL) on a wall on the outskirts of Kochi, India, November 21, 2019. REUTERS/Sivaram V/File Photo Acquire Licensing RightsIndia plans to halve the amount of equity investment to $1.8 billion for
LNG
06-01-2024
India's GAIL Signs 10-Yr LNG Purchase Deal With Vitol
State-run GAIL (India) Ltd (GAIL.NS) Friday said it has signed a 10-year liquefied natural gas (LNG) import deal with trader Vitol to buy about 1 million metric tons per year (tpy) of the super-chilled fuel from 2026.Indian companies are investing billion
Oil Price
05-01-2024
Russian November Oil Price for India Hit 12-Mth High
A model of oil barrels is seen in front of Russian and Indian flags in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsIndia paid an average of $85.42 per barrel for Russian oil in November, th
Oil Price
05-01-2024
Oil Settles Lower on Massive US Fuel Inventory Builds
A view shows an oil pump jack outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo Acquire Licensing RightsOil settled lower on Thursday in a choppy see-saw session, as massive weekly gasoline and dist
Oil & Gas Trade
05-01-2024
Biden Administration Slowly Puts Oil Back Into the Spr Emergency Stash
An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/File Photo Acquire Licensing RightsThe administration o
Oil & Gas Trade
05-01-2024
Exxon Earnings to Drop on California Offshore Exit, Weaker Prices
Cars are seen at an Exxon gas station in Brooklyn, New York City, U.S., November 23, 2021. REUTERS/Andrew KellyFile Photo Acquire Licensing RightsExxon Mobil Corp (XOM.N) warned on Thursday it would write down about $2.5 billion of California assets in th
LNG
04-01-2024
Australia Hands Out Lengthy Ban to Gas Carrier
The Australian Maritime Safety Authority (AMSA) has banned Hong Kong-flagged LNG carrier CESI Qingdao from Australian waters for 180 days.The ship was detained in Gladstone in November, following a vessel blackout which caused major disruptions at the por
Oil & Gas Trade
04-01-2024
Chevron to Take Up to $4BLN Impairment Impact
Oil giant Chevron has said it would take an accounting hit to part of its U.S. assets and recognize some losses, resulting in an impact in its fourth quarter results of up to $4 billion.The impairment of U.S. assets, mainly in California, was "due to
LNG
04-01-2024
Report: Production Starts at Russia's Arctic Lng 2 Despite US Sanctions
Russia’s liquefied natural gas (LNG) producer Novatek has begun production at its Arctic LNG 2 project despite U.S. sanctions, media company Bloomberg reported.Archive; Courtesy of NovatekAccording to Bloomberg, Russia’s Deputy Prime M
LNG
04-01-2024
India's Petronet to Sign Deal to Extend Qatar Lng Imports Beyond 2028
India's top gas importer Petronet LNG (PLNG.NS) is likely to sign a deal this month to extend its long-term liquefied natural gas (LNG) imports from Qatar to beyond 2028, India's Oil Secretary said on Wednesday.Petronet has a 7.5-million m
Oil & Gas Trade
04-01-2024
China Crude Flows to Storage Poised to Pick Up After Half-Year Lull: Russell
A shale gas drilling rig run by Sinopec is seen in Chongqing, China March 18, 2018. Picture taken March 18, 2018. REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsChina's flow of crude oil into inventories faded over the second half of last y
Natural Gas
04-01-2024
Russia's Gazprom Breaks Daily Record for Gas Supply to China
Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsRussian energy giant Gazprom (GAZP.MM) said on Wednesday it set a new daily record the previous day for gas supplies to China
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Most views from Oil & Gas
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TC Energy Has Submitted Plan To Restart Keystone Oil Pipeline After Spill - Source
4
IEA to Expedite 2025 Oil Demand Forecast, OPEC Also Moves Early
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Pemex Deer Park, Texas, Refinery Reports Spill Into Houston Ship Channel
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U.S. Weighs Sanctions on Russia Energy Flows, but Time Is Not 'Right Now'
