Offshore Natural Gas News


Petronas Makes Gas Discovery Offshore Malaysia

Jan 07, 2022

Petronas announced a new gas discovery off the coast of Malaysia.The Malaysian company said Friday that its Petronas Carigali Sdn Bhd (PCSB) subsidiary found gas at the Hadrah-1 wildcat exploration well of Block SK411, located in the shallow…

Courts Suspend Petrobras Natgas Price Hikes

Dec 29, 2021

Courts in four Brazilian states have suspended a 50% hike in natural gas prices planned by state-run oil company Petrobras, likely kicking off an intense legal battle between the firm, the distributors that buy its fuel and various political authorities…

Putin Says Nord Stream 2 Link Ready to Calm Gas Prices

Dec 29, 2021

Russian President Vladimir Putin said on Wednesday the Nord Stream 2 undersea gas pipeline would help to calm a surge in European gas prices and was ready to start exports now a second stretch of the pipeline has been filled.Nord Stream 2, completed…

Gazprom Boosts Investments to $24 Billion in 2022

Nov 25, 2021

Russian gas giant Gazprom said on Thursday its management had approved investments worth 1.76 trillion roubles ($24 billion) for 2022, up from initial plans of 902 billion roubles for 2021, to fund new production and refining hubs.Gazprom is developing new gas production deposits…

Greece Teams up with Egypt on Gas Supply, Infrastructure

Nov 25, 2021

Greece and Egypt agreed on Thursday to expand their cooperation in the supply of liquefied natural gas (LNG) and examine the possibility of constructing a subsea gas pipeline between the two countries, the Greek energy ministry said.Greece, which mainly imports gas from Algeria…

Wood Wins Contract for Turkey’s Largest Gas Reserve

Nov 25, 2021

Consulting and engineering firm Wood said it has been appointed by Turkish Petroleum (TP) as the integrated project management partner for the Sakarya Gas Field Development Project, located 150km off the coast of Turkey in the Black Sea.As Turkey’s largest gas reserve…

LNG Demand to Rise 25-50% By 2030 - Morgan Stanley

Oct 25, 2021

Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50% by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday.Morgan Stanley has raised its long…

Fugro Completes USV Remote Inspection for Woodside

Aug 06, 2021

Fugro has used its first operational Blue Essence uncrewed surface vehicle (USV), the 12 m Fugro Maali, to complete an entirely remote nearshore inspection of three gas trunklines in the North West of Australia for the Woodside operated North West Shelf Project…

Woodside Hikes Scarborough Cost Estimate to $12 Billion

Aug 05, 2021

Woodside Petroleum Ltd, Australia's top independent gas producer, said on Wednesday it had raised the cost estimate for its Scarborough project by 5% as it worked towards a final investment decision this year.Woodside has pinned its hopes on Scarborough…

IOG Spuds Blythe Development Well

Aug 03, 2021

U.K. gas company IOG announced the spudding of the Blythe development well in the U.K. North Sea.Following Elgood, Blythe is the second development well in IOG's Phase 1 project and is expected to take under three months to drill and complete…

Oil Search, Santos Close to Deal to Create Top 20 Global Oil Firm

Aug 02, 2021

Oil Search said on Monday it intended to recommend an improved buyout offer from Santos Ltd, worth A$8.4 billion ($6.2 billion), in a deal that would create a top-20 global oil and gas company.The merged group would own oil and gas assets in Australia…

Turkey Finds More Natural Gas in the Black Sea

Jun 04, 2021

Turkey has discovered 135 billion cubic meters of additional natural gas in the southern Black Sea, President Tayyip Erdogan said on Friday, raising the total discovery in the region to 540 billion cubic meters.Last year, Turkey's drillship…

Gazprom Reports 89% Profit Fall

Apr 29, 2021

Russia's Gazprom on Thursday reported an 89% fall in 2020 net profit to 135.3 billion roubles ($1.8 billion), hurt by lower prices and sales and a huge rise in costs including a foreign exchange-related loss, but it expects a recovery in 2021…

OMV Expects Strong Second Half of 2021

Apr 29, 2021

Austrian oil and gas group OMV said it sees strong improvement in the second half of 2021 as it reported a better-than-expected quarterly core profit on Thursday thanks to higher oil prices and gains from the acquisition of plastics maker Borealis…

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