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Equinor Could Reevaluate UK Oil Investments Amid Potential Tax Hikes

Aug 28, 2024

Norway's Equinor may reconsider investing in oil and gas in Britain if the Labour government changes the industry's tax regime, a top company executive told Reuters.Equinor's head of international operations said it may not be as attractive…

Woodside Profit, Dividend Beat Estimates

Aug 27, 2024

Australia's Woodside Energy reported on Tuesday a decline of 14% in half-year profit, hit by lower oil prices, but the result and its dividend beat market expectations, sending shares up 4%.Chief Executive Meg O'Neill said there had been a flood…

Cyprus Sets Deadline for Aphrodite Development Plan

Aug 26, 2024

A Chevron-led consortium that holds licensing rights over a gas field off Cyprus will present an updated development plan within days, one of the partners said on Monday, after Cyprus gave them a three-month deadline to comply.There have been…

Indonesia Green Lights Eni Gas Projects

Aug 23, 2024

Indonesia has approved a development plan for the first phase of the Geng North gas field operated by Italy's Eni in the Makassar Strait, the upstream oil and gas regulator SKK Migas said in a statement on Friday.The approval also covered the development of the nearby Gehem field…

OMV Finds Gas in Norwegian Sea Wildcat

Aug 23, 2024

OMV and its partners have discovered gas in the deepwater Haydn/Monn wildcat well (6605/6-1 S) in the Norwegian Sea.The gas discovery is located around 310 kilometers west of Sandnessjøen, at a water depth of 1,064 meters. The find is approximately…

Chevron Awarded Greenhouse Gas Assessment Permit Offshore Australia

Aug 22, 2024

U.S.-based supermajor Chevron announced it has been awarded a greenhouse gas (GHG) assessment permit offshore Western Australia.The G-18-AP permit is offshore from Onslow, Western Australia and covers an area of approximately 8,467 km2 with water depths of 50-1100m…

Egypt Plans to Restore 'Normal' Oil and Gas Production by 2025

Aug 22, 2024

Egypt plans to return oil and gas production to normal levels from 2025 with the help of international partners, Prime Minister Mostafa Madbouly said in a press conference on Thursday.The North African country had aimed to become a regional…

Europe's Gas Surplus Nearly Dried Up

Aug 14, 2024

Europe's record gas surplus inherited from the winter of 2023/24 has been largely eliminated following an unusually small accumulation of inventories so far in the summer of 2024.Inventories across the European Union and the United Kingdom have risen by just 336 terawatt-hours (TWh) since March 31…

Oil Investors Slash Positions to All-time Low Amid Financial Market Turmoil

Aug 12, 2024

Investors cut their petroleum positions to the lowest level for at least a decade early last week, part of a broad-based retreat from risk amid rising concerns over a global economic slowdown.Hedge funds and other money managers sold the equivalent…

Cyprus Officials Discuss East Med Gas Investments with BP, ADNOC

Aug 02, 2024

Representatives of BP and Abu Dhabi's state oil giant met Cypriot Energy Ministry officials on Friday to explore investments in the country's emerging natural gas sector, a source familiar with consultations said.BP and ADNOC earlier this year…

Equinor CEO Says Maintenance is Key for Stable Gas Delivery

Jul 24, 2024

Equinor, Europe's biggest supplier of natural gas, will use upcoming late-summer maintenance season to ensure that Norway's ageing fields can continue to deliver energy at a reliable pace, the company's CEO told Reuters on Wednesday.The maintenance and repair of Norwegian gas infrastructure…

Venezuela Grants License to BP, NGC for Offshore Gas Project

Jul 24, 2024

Venezuela on Wednesday granted a 20-year license to British energy producer BP and state-owned National Gas Company of Trinidad and Tobago (NGC) to develop the Venezuelan side of a natural gas field that extends into the Caribbean country's waters…

Aramco, Sempra Set Sale and Purchase Terms for Port Arthur LNG Expansion Project

Jun 26, 2024

Saudi Arabian state-owned oil and gas giant Aramco and Sempra, one of North America’s leading energy infrastructure companies, have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5…

Pipeline Crack on Sleipner Platform Halts Norway Gas to Britain

Jun 03, 2024

A crack has been found in a two-inch pipeline onboard Norway's offshore Sleipner Riser platform and it is not yet known how long this will take to repair, Norwegian gas pipeline system operator Gassco said on Monday.The outage on Monday halted…

Extreme Asian Heat Spurs LNG Demand Ahead of Summer Months

May 31, 2024

Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records.This could tighten available supply and further lift Asian spot prices that have already gained a third since April…

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