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Oil & Gas
Oil Price
Oil Prices Post 3% Annual Decline
Crude Oil
13-02-2025
EIA Confirms Turkmenistan’s Rising Oil Reserves
Turkmenistan continues to strengthen its position as a key energy producer, with proven oil reserves reaching 600 million barrels as of January 1, 2025, according to the latest data from the U.S. Energy Information Administration (EIA), Trend reports.The
LNG
16-02-2025
FSRU Gig at One of Germany’s LNG Terminals Cut Short Over Pricing Issues
FSRU Energos Power;Germany’s private operator of liquefied natural gas (LNG) terminals, Deutsche ReGas, has pulled the plug on a charter deal for one of two floating storage and regasification units (FSRUs) currently operating at the ‘
Oil&Gas Drilling
16-02-2025
26 Offshore Blocks up for Grabs in Trinidad and Tobago’s 2025 Deepwater Oil & Gas Bid Round
BP's Cassia platform offshore Trinidad and Tobago (for illustration purposes);With the need to ensure energy independence in mind, the government of Trinidad and Tobago has initiated its new bidding round to boost hydrocarbon exploration and produ
Crude Oil
13-02-2025
Oil Giant Chevron Plans to Lay off 20% of Workers in Cost-Cutting Push
Chevron employed 46,500 people globally at the end of 2023, meaning the cuts could affect as many as 9,000 employeesChevron plans to cut its global workforce by 15 per cent to 20 per cent by next year, as part of efforts to reduce costs and raise profits.
Crude Oil
13-02-2025
Exxon Seeks Permit for Its Eighth Oil, Gas Project in Guyana as Output Rises
An Exxon gas station seen in Washington, U.S., November 26, 2024.A consortium led by Exxon Mobil (XOM.N), has requested environmental permits from Guyana for its eighth project, the first that will generate gas not linked to oil production, and to explore
Natural Gas
13-02-2025
Validus Energy to Buy Natural Gas Producer 89 Energy III for $850 Million, Sources Say
Privately owned U.S. oil and gas producer Validus Energy has struck a deal to buy rival 89 Energy III for about $850 million, including debt, sources familiar with the matter told .The deal adds more than 25,000 barrels of oil equivalent per day of produc
Oil Field
12-02-2025
East Baghdad Oil Field Reserves Rise to 15 Billion Barrels
Workers adjusting valves in an oil facility in Iraq.The East Baghdad field, one of the most important oil fields in Iraq, recently had a massive find that increased its reserves to 15 billion barrels.Iraq’s standing as one of the world&rsquo
Oil Refinery
12-02-2025
Aramco’s Motiva Expands Texas Refinery to Become Largest in US
Motiva Enterprises has quietly expanded its Port Arthur, Texas, refinery to become the largest fuelmaking plant in the US.The refinery can now process as much as 654,000 barrels of crude a day, more than the biggest US plants owned by ExxonMobil Corp. and
LNG
12-02-2025
India Gas Demand to Surge by 2030, Doubling LNG Imports, Says IEA
A view of a cryogenic tank mounted on a Blue Energy 5528 liquefied natural gas (LNG) truck at the manufacturing facility in Pune, India October 11, 2024.India's natural gas consumption is set to jump 60% between 2023 and 2030, doubling the country
Natural Gas
12-02-2025
Sapphire Technologies and Tulip Compression Partner to Advance Hydrogen and Natural Gas Energy Solutions in India
Sapphire Technologies and Tulip Compression partner to advance clean energy and efficiency in India.Sapphire Technologies, a leader in energy recovery systems for hydrogen and natural gas applications, has announced a strategic expansion into India with i
Crude Oil
12-02-2025
China National Petroleum Resumes Crude Production in South Sudan
Dar Petroleum Operating Co. has resumed producing oil from a number of its wells in South Sudan after almost a year, people with knowledge of the matter said.The company, operated by China National Petroleum Corp., China Petroleum & Chemical Corp. and
Crude Oil
12-02-2025
Libya’s NOC Unveils Self-Reliance
Strategic shift focuses on homegrown technologiesThe National Oil Corporation (NOC) unveiled its 2025 strategic plan on Wednesday, prioritising increased oil production and domestic technological development.During board meetings, NOC executives evaluated
Oil Refinery
12-02-2025
Dangote Refinery Reduces Diesel Price to N1,020/Litre
Dangote Petroleum Refinery and Petrochemicals says it has reduced the cost of its diesel to N1,020 per litre, down from N1,075 per litre at the gantry price.In a statement on Tuesday, the company said the reduction was to better serve its customers and Ni
Crude Oil
15-02-2025
Four Giant Oil & Gas Projects Line up for Start-up in 2025 Offshore Norway With More on the Cards
Norwegian oil and gas player Vår Energi has confirmed that four major projects are expected to be put into operation this year, enabling the firm’s production to exceed 400,000 barrels of oil equivalent per day (kboepd).While revealing
LNG
15-02-2025
Gneiss: More UK Production, Fewer LNG Imports Key to Meeting Demand and Keeping Emissions at Bay Post-2030 Outlook & Strategy
FPSO Petrojarl Knarr for Equinor's Rosebank oil field in UK waters;Gneiss Energy, a UK-based strategic and corporate finance advisory firm operating within the energy and natural resources sectors, has published a report on the potential negative
LNG
12-02-2025
Chinese Firm Scores Offshore Multimillion-Dollar Job for Eni’s LNG Project
Italy’s energy giant Eni has hired China’s Hilong Group’s Hilong Offshore Engineering to handle the second phase of the offshore transportation and installation works for its liquefied natural gas (LNG) project off the coast
Oil Price
12-02-2025
Oil Prices Climb to 2-Week High on Supply Worries, US Tariffs Check Gains
A view of an oil pump jack on the prairies near Claresholm, Alberta, Canada January 18, 2025.Oil prices edged up to a two-week high on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies and on rising Middle East tensions, outweigh
Oil Price
12-02-2025
US Gulf Refiners Paying Premium Prices for Trinidad’s Molo Crude
Some U.S. Gulf Coast refiners have recently paid prices over the Brentcrude benchmark for Trinidad and Tobago's Molo heavy sour crude, the CEO of the country's state-owned oil company, Heritage Petroleum, said on Tuesday.Lower availability
Oil Field
12-02-2025
New U.S. Metals Tariffs to Drive up Oilfield Equipment Costs, Championx Exec Says
Oil pump jacks work at sunset near Midland, Texas, U.S., August 21, 2019.ChampionX (CHX.O), expects new U.S. import tariffs on steel and aluminium to drive up equipment costs for oilfield service firms, a company official said on Tuesday.U.S. President Do
Oil & Gas Supply
11-02-2025
Energy Transfer and Cloudburst Sign Agreement for Natural Gas Supply to Data Centre Project in Central Texas
The agreement calls for Energy Transfer’s Oasis Pipeline, LP to provide up to 450 000 million Btu/d of firm natural gas supply to CloudBurst’s Next-Gen Data Center campus outside of San Marcos, Texas, subject to CloudBurst reaching a f
Oil Field
11-02-2025
Petro-Victory, ATO to Acquire 13 Oil Fields in Brazil’s Prolific Potiguar Basin
Petro-Victory Energy has signed a sales & purchase agreement (SPA) in 50/50 partnership with Azevedo & Travassos Petroleo (ATO) for 13 oil fields located in the Potiguar Basin, onshore Brazil, from seller Brava Energia.Key highlights:Oil fields: 1
Oil Refinery
15-02-2025
Dangote Refinery to Operate at 100% by March
Dangote Oil refinery, currently operating at 85 per cent capacity is expected to go 100 per cent in 30 days.The 650,000-barrel-per-day refinery began processing crude into products, including diesel, naphtha and jet fuel, in January last year and started
Oil Refinery
11-02-2025
HPCL Plans to Raise Vizag Oil Refinery Capacity by 20% to Meet Fuel Demand
State-run Hindustan Petroleum (HPCL) plans to increase the capacity of its Vizag oil refinery in southern India by as much as 20 per cent to meet growing local fuel demand, its chairman Rajneesh Narang said.India is raising its crude processing capacity a
Oil Field
11-02-2025
BP Tackling Production Decline at ‘Largest and Most Prolific’ Oil Field Offshore India
UK-headquartered energy giant BP has been hired by India’s state-owned energy giant Oil and Natural Gas Limited (ONGC) to handle the decline in hydrocarbon production levels at a giant oil field off the country’s west coast.The contrac
LNG
11-02-2025
Celsius and Basalt’s Two-Vessel LNG Fleet Growing by One, Possibly More
UK-based investment firm Basalt Infrastructure Partners has signed a deal to add a newbuild liquefied natural gas (LNG) carrier to the existing LNG platform owned by its joint venture (JV) with Denmark’s Celsius Shipping.The 180,000 cubic-meter
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Most views from Oil & Gas
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OPEC+ Is Not Considering Delay to April Oil Supply Hike, Novak Says
2
Nord Stream 2 Cost $11 Billion to Build. Now, the Russia-Europe Gas Pipeline Is Unused and Abandoned
3
Production at Russian Refineries Has Dropped to a 12-Year Low Due to Ukrainian Drone Attacks
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Shell Sorry for Buying Russian Crude
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Oil Prices Post 3% Annual Decline
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Ukraine Keeps Gas Imports at a High Level on Sunday, Data Shows
