General licenses for oil and gas exploration in Venezuela issued by the U.S. this month will allow Shell to progress with its Dragon gas project, a company spokesperson told Reuters on Thursday.The project, envisioned to produce gas from a field in Venezuelan waters with 4…
Shell has launched a multi-well offshore drilling campaign in Egypt’s Mediterranean waters using Stena Drilling’s Stena IceMax drillship, marking the start of a new development phase at the West Mena gas field.Egypt’s Minister of Petroleum and Mineral Resources…
Oil prices plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session as U.S. President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to oil supplies…
The International Energy Agency on Wednesday agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the U.S.-Israeli war with Iran, with the U.S. contributing the bulk of the supply…
Turkish Petroleum (TPAO) has signed a partnership agreement with Shell to conduct oil and gas exploration activities in the Khan Tervel Field located in Bulgaria’s exclusive economic zone, marking its latest move to expand internationally.Under the deal…
Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say…
Asia depends on oil and gas from the Middle East, sourcing 60% of its crude from the region, making it highly vulnerable if the Iran war causes a prolonged closure of the Strait of Hormuz supply route.How Much Middle Eastern Oil Does Asia Import…
European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U…
India began rationing natural gas on Tuesday while countries around Asia looked to the spot market to replace supplies, activated emergency plans and prepared to step up production, as the conflict in the Middle East curtailed shipping and halted Qatari output…
Venezuela can now pay for gas received from Eni with oil thanks to a recent easing of U.S. sanctions, unlocking a situation that had left the Latin American country with a large debt to the Italian firm, Eni's CEO said on Thursday.'That's really a big upside…
China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely the case…
Shell missed fourth-quarter profit expectations on Thursday with an 11% drop to the lowest level since early 2021 amid weaker oil prices, but kept its share buyback programme steady at $3.5 billion for the next three months.Profits at its integrated…
Trinidad and Tobago's government is optimistic two flagship offshore gas projects with neighboring Venezuela to be operated by Shell, BP and Trinidad's National Gas Company will move forward amid political changes in the OPEC country, the energy minister of the twin-island nation said on Wednesday…
A consortium led by U.S. oil major Chevron signed exclusive lease agreements on Monday to look for natural gas off southern Greece, expanding the United States' presence in the eastern Mediterranean.The deal doubles the amount of Greek maritime…
TotalEnergies is asking the French government and EU Commission to clarify an EU ban on Russian liquefied natural gas (LNG) imports, CEO Patrick Pouyanne said on Wednesday.'It appears a European company cannot market Russian LNG, which we did not initially anticipate…
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