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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
LNG
22-05-2023
Equinor, Shell and Exxon Agree LNG Project With Tanzania
Equinor, Shell and Exxon Mobil have agreed a deal with the government of Tanzania for the development of a liquefied natural gas (LNG) export terminal in the East African country, the two sides said.The agreement is a milestone for the long-delayed projec
LNG
22-05-2023
Qatarenergy Awards A US$10BN EPC Contract for North Field South LNG Project (Qatar)
Qatar state-owned oil and gas company QatarEnergy has awarded a US$10bn engineering, procurement, and construction (EPC) contract for the North Field South (NFS) project to a consortium of Technip and Consolidated Contractors Company (CCC). The EPC contra
Crude Oil
22-05-2023
Expert Commentary the Role of Natural Gas in Powering Africa’s Future
Abubakar AbbasSenior Energy Forecast AnalystGas Exporting Countries Forum (GECF)Alexander ErmakovEnergy EconometricianGas Exporting Countries Forum (GECF)1 - IntroductionAfrica is projected to experience significant population growth, rising from around 1
Oil & Gas Trade
19-05-2023
SINOPEC, Kazakh Firm Kazmunaygas to Co-develop Polyethylene Project
China Petrochemical Corp, or Sinopec, together with KazMunayGas, a state-owned oil and gas company in Kazakhstan, will develop the biggest polyethylene project in Kazakhstan, the Chinese company said on Thursday.Polyethylene is the most commonly produced
Crude Oil
19-05-2023
Iran, Russia Sign 10 Oil Cooperation Deals
Iran and Russia on Wednesday signed 10 documents for cooperation in the oil industry in the Iranian capital Tehran, according to Shana News Agency affiliated to the Iranian Oil Ministry.The deals were signed following a meeting between Iranian Oil Ministe
Oil & Gas Trade
18-05-2023
Kuwait’s Oil Company Seeks to Exit Norway
Kuwait's overseas oil and gas division has launched a sale process for its Norwegian assets as part of its focus on newer exploration and production hubs, industry sources said.Kuwait Foreign Petroleum Exploration Company (Kufpec) hired Scotiabank
LNG
18-05-2023
Technip Energies Awarded a Major LNG Contract for the North Field South Project by Qatarenergy
This contract entails the delivery of two mega trains, each capable of processing 8 million tons per annum (Mtpa) of Liquefied Natural Gas (LNG)Deal includes the construction of a sizeable facility for CO2 carbon capture and sequestration, with a capacity
Oil & Gas Technology
18-05-2023
Aramco, Totalenergies Announce Major Update for $11 Billion Amiral Project
The scope of work has been divided into eight packages and EPC contracts will be awarded very soonAramco–TotalEnergies JV SATORP has completed the FEED and launched multiple EPC packages for their $11 billion planned Amiral complex, Olivier Sain
Oil&Gas Drilling
17-05-2023
Trio Petroleum Confirms “Major” Oil, Gas Accumulation in California Well
(WO) – Trio Petroleum Corp. announced that its HV-1 well has confirmed a major accumulation of oil and gas in the Presidents field in its South Salinas project located in Monterey County, California.Courtesy of Trio Petroleum Corp.The HV-1 well
Oil&Gas Drilling
17-05-2023
Neptune Energy Awards $100 Million Drilling Contract to Tenaris
(WO) – Neptune Energy announced the award of a +$100 million contract to Tenaris to provide equipment and services to support drilling activities on the Norwegian continental shelf.Neptune's Gjoa platform, where drilling activities will
Crude Oil
17-05-2023
U.S. Department of Energy Soliciting Bids for Crude Oil to Replenish Petroleum Reserve
(Bloomberg) – The U.S. is soliciting bids for up to 3 MMbbl of sour crude oil to refill its depleted Strategic Petroleum Reserve.crude oil reserve tanks at the Strategic Petroleum ReserveStrategic Petroleum Reserve, courtesy of the U.S. Departme
Oil & Gas Trade
17-05-2023
Borrell Urges EU to Restrict Imports of Indian Fuels Made With Russian Oil
The European Union (EU) should crack down on India reselling Russian oil into Europe as refined fuel, including diesel, EU foreign policy chief Josep Borrell said in an interview with the Financial Times.India has emerged in the past year as a top buyer o
Crude Oil
17-05-2023
Saudi Crude Exports Falling in May After April Jump
Saudi Arabia's crude oil exports have been falling in May, according to figures from two companies that monitor the shipments, as a voluntary production cut pledged by the kingdom and other Opec+ producers takes hold after a jump in April.Opec&
Oil Price
17-05-2023
IEA Says Oil Price Downturn Ignores Looming Supply Crunch
Weeks of declining oil prices due to concerns over a possible recession clash with the outlook for scarce supply and robust demand later in the year, the International Energy Agency said."Prices were pressured lower by muted industrial activity and h
Oil Pipeline
16-05-2023
High Energy and the Need for Exploration Activities Are Increasing, Which Is Driving the Industry’s Demand for Oil Country Tubular Goods
The oil country tubular goods market is anticipated to record a CAGR of 6.5% during the forecast period. The market is anticipated to grow from an estimated valuation of US$ 23.71 Mn in 2022 to reach a valuation of US$ 44.50 Mn by 2032.Due to the high ene
Natural Gas
16-05-2023
Australia’s Gas Usage to Drop to 34% By 2030
This comes as the market transitions away from gas.Australia’s gas usage is expected to drop further to 34% by 2030, the Institute for Energy Economics and Financial Analysis (IEEFA) reported.Gas usage for power generation dropped to 47% between
Floating Offshore Wind
16-05-2023
Seatwirl, Kontiki Winds to Explore Powering Oil & Gas Assets With Floating Wind
Sweden-headquartered SeaTwirl has signed a Memorandum of Understanding (MoU) with Kontiki Winds to identify and discuss the opportunities to electrify oil and gas assets and other offshore applications, with the use of SeaTwirl’s floating wind t
Oil and Gas Equipment
16-05-2023
The Large Synchronous Motors Are Used in Various Industries for Different Applications Like Mining, Water Treatment, Separation Unit Etc.
The global large synchronous motor market is anticipated at US$ 6.5 billion in 2022. The sector is gaining pace as companies provide technologically improved large synchronous motors with high-power and high-speed compressors. The market is estimated to g
Crude Oil
15-05-2023
Tight Market for Sour Crude Oil to Squeeze US Gulf Coast Refiners
Sour crude oil supplies for US Gulf Coast oil refiners will be squeezed in coming weeks, market participants said, as global demand rises following this month's Opec+ production cut.The oil producing group's 1.16 million barrel per day cut
Oil Pipeline
15-05-2023
G7, EU to Ban Restart of Russian Gas Pipelines
The Group of Seven (G7) industrial powers and the European Union will ban Russian gas imports on routes where Moscow has cut supplies, the Financial Times reported on Sunday, citing officials involved in the negotiations.The decision, to be finalised by G
Oil&Gas Drilling
15-05-2023
Totalenergies Picks Shearwater for Surveys Offshore UK
French major TotalEnergies has awarded Norway’s Shearwater GeoServices with a contract to carry out surveys over its gas fields located west of Shetland, offshore the UK.Source: Shearwater GeoServicesUnder the contract, Shearwater will carry out
Oil&Gas Drilling
15-05-2023
Shell and Petrobras Book Noble’s Drillships
Noble Corporation has won contracts with UK-headquartered energy giant Shell and Brazilian state-owned oil and gas giant Petrobras, respectively, for two of its 7th-generation drillships.Noble Voyager. Source: Noble CorporationShell has contracted Noble V
Oil Exploration
11-05-2023
With Delays Out of the Way, UK Oil & Gas Firm Enters Angola
UK-headquartered and AIM-listed company Afentra plc has completed the acquisition of interests in two blocks offshore Angola from Croatia’s INA-Industrija Nafte. This marks the UK player’s entry into Angola.FSO Palanca; Source Stapem O
Oil&Gas Drilling
11-05-2023
‘Major’ Operator Books Transocean’s Idle Rig for Work off Australia
Offshore drilling contractor Transocean has secured a new contract with an undisclosed operator in Australia for a semi-submersible rig, which has been in idle mode since October 2022, when the rig finished its assignment with Equinor in Norway.Transocean
Oil & Gas Supply
11-05-2023
EIA Expects More Generation From Renewables and Natural Gas This Summer
The U.S. Energy Information Administration (EIA) expects that this summer will see the second-most U.S. natural gas consumption for electricity generation on record, surpassed only by last summer. EIA continues to expect significant growth in U.S. electri
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