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Egypt Inks $3B LNG Deals with Shell and TotalEnergies

Feb 06, 2025

Egypt has signed deals worth about $3 billion with Shell and TotalEnergies to secure 60 cargoes of liquefied natural gas (LNG) to cover demand for 2025, three trading sources told Reuters.The most populous Arab country last year returned to being a net importer of natural gas…

Tango FLNG Tops Guaranteed Production at Eni’s Gas Field Offshore Congo

Feb 05, 2025

The liquefaction of natural gas onboard the Tango floating liquefied natural gas (FLNG) unit at Eni’s Congo LNG project has exceeded the guaranteed levels.Following the monitoring of the liquefaction of natural gas onboard the Tango FLNG, the…

Shell's Profit Falls to $3.66B in Last Quarter of 2024

Jan 30, 2025

Shell on Thursday reported a fourth-quarter profit of $3.66 billion, missing estimates, on lower refining margins and lower liquefied natural gas (LNG) trading, while saying it would buy back shares worth $3.5 billion.The oil major also announced a 4% increase in its dividend…

European LNG Imports Up with Asian Influx

Jan 28, 2025

The world's imports of liquefied natural gas are set to jump to the highest in a year in January as Europe's winter demand draws cargoes away from top-consuming region Asia.A total of 38.12 million metric tons of the super-chilled fuel is on track to be imported in January…

Higher Oil Output at Permian, Guyana Lifts ExxoMobil’s Quarterly Profit

Jan 31, 2025

ExxonMobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.Its adjusted profit was $7.39 billion or $1.67 per share, beating analyst estimates of $1…

TotalEnergies’ Quarterly Profit Goes Down 15%, Still Above Expectations

Feb 05, 2025

French oil major TotalEnergies beat expectations for fourth-quarter earnings on Wednesday as higher trading profits in the gas market helped it offset some of the impact of low oil prices and weak fuel demand.Adjusted net income for the final three months of 2024 was $4…

Mexico’s Deepwater Gas Project Up for ‘Substantial Changes’

Feb 03, 2025

Mexican billionaire investor Carlos Slim's team and state energy company Pemex are discussing substantial changes to a deal to develop the country's first deepwater natural gas field, five sources familiar with the matter told Reuters.Slim's…

US Oil Majors Set to Curb ‘Drilling Boom’ Expectations Despite Trum Calls

Jan 28, 2025

Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to 'drill, baby, drill.'Big Oil begins reporting fourth-quarter results this week…

Strohm Rolls Out Pipe Design Tool

Jan 28, 2025

Strohm has launched TCP Designer, its new web-based tool developed to help companies design and engineer thermoplastic composite pipes for their projects.TCP Designer helps users ensure their piping systems meet critical requirements for water depth…

MATCOR Relaunches Iron Gopher for HDD Drilling with Reduced Price

Jan 28, 2025

Cathodic protection and AC mitigation solutions supplier MATCOR, a BrandSafway company, has relaunched its patented Iron Gopher linear anode for horizontal directional drilling (HDD) projects, with a reduced price.The price reduction is the result of MATCOR's move to in-house production…

Japan Adjusts Rules for Offshore Wind Auction Rounds

Jan 29, 2025

The Japanese government on Wednesday announced a revision of its rules for offshore wind power auctions as the sector globally grapples with delays and soaring expenses driven by tight supply chains and inflation.After a number of consultations…

CNOOC Boosts Dongfang Gas Fields Output with New Platform Coming Online

Jan 20, 2025

China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has started production at Dongfang 29-1 gas project in the Yinggehai Basin, offshore China.The main production facilities at the project include a new unmanned wellhead platform and a subsea pipeline…

Oil Goes Down as Trump Asks OPEC to Cut Prices

Jan 24, 2025

Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.Uncertainty over how Trump's proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on prices…

TotalEnergies' Mozambique LNG Project Up for Delay Beyond 2029

Jan 23, 2025

TotalEnergies' $20 billion Mozambique LNG project will not be operational by 2029 as hoped, the French oil major said on Wednesday, citing the need to end force majeure and ensure security at the project site.TotalEnergies had previously said…

Baker Hughes: US oil & gas rig count at lowest since Dec 2021

Jan 24, 2025

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count…

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