Pemex debt should be a red flag to potential partners when Mexico looks to increase oil production
Over a month has passed since Pemex's head made an appeal for partners to assist Mexico's state oil company in boosting production. But national and international companies are still not responding. Pemex has a mountain of debts, ranging from Italian producers such as Eni, to U.S. service companies SLB and Baker Hughes…
Equinor plans to drill 250 oil and natural gas exploration wells by 2035 in Norway
Equinor plans to drill 250 oil-and-gas exploration wells in Norwegian waterways in the next ten years in order to achieve a goal that will maintain production in 2035, at levels of 2020, due in part, according its CEO, Tuesday, to expectations of continued fossil fuel demand. Anders Opedal, the CEO of Norwegian Energy Company…
Ukraine Increases US LNG Imports via Poland for Winter
Ukrainian state oil and gas firm Naftogaz said on Friday it was increasing imports of U.S. liquefied natural gas through Polish firm Orlen and U.S. partners to ensure supplies for the winter amid continuing Russian strikes on the energy system.In a statement, CEO Serhiy Koretskyi said the imports would total at least…
The US wants Europe to continue using oil and gas instead of renewable energies
The world's investments in renewable energies aren't paying off and should be focused on securing a reliable supply of fossil fuels. This was the message from U.S. Energy and Interior Secretaries this week, as they tried to convince Europe to purchase more U.S. gas and oil. On the back of U.S. shale gas boom, the U.S. is now Europe's largest oil and natural gas supplier.
Greece signs long-term LNG supply agreement with US
Greece signed a 20-year deal to import 0.7 bcm of liquefied gas each year, starting in 2030. This is its first long term gas supply agreement with the United States. The deal aims to replace Russian gas shipments into Europe. The 20-year agreement comes just months after Trump's administration and the European Union inked a trade agreement in July.
Sponsored: Policy, AI, and Capital Take Center Stage at ADIPEC 2025
ADIPEC 2025 kicks off in Abu Dhabi with a powerful message from Dr. Sultan Al Jaber for a balanced and inclusive approach to meeting energy demand, built on reinforcement, not replacement. Opening addresses and high-level sessions featuring CEOs and ministers spotlighted the importance of embracing all energy sources…
Poland Working on Deal to Import US LNG to Support Ukraine, Slovakia
Poland is working on a deal to import liquefied natural gas (LNG) from the U.S. to supply Ukraine and Slovakia, an agreement that would further tighten the European Union’s ties to American energy, according to two sources familiar with the negotiations.Officials expect to announce a joint declaration to boost imports…
$400m Natural Gas Pipeline Between Israel and Cyprus Awaits Government Approval
A $400 million pipeline to transport natural gas from Israel to Cyprus is awaiting government approval from both countries and Israel has expressed support, the head of Eastern Mediterranean focused gas producer Energean told Reuters on Tuesday.Energean on Monday signed a letter of intent with leading Cypriot industrial…
BP CEO predicts that non-OPEC+ oil supplies could decrease by April
BP Chief Executive Murray Auchincloss stated on Monday that oil supply growth outside OPEC+ may decline by April while demand remains strong. Auchincloss stated that "there is a supply rise outside of OPEC+." "We believe that will end in February, March and April. Auchincloss, who spoke at the ADIPEC Energy Conference in Abu Dhabi…
QatarEnergy CEO: LNG production from North Field expansion will start in the second half of 2026
QatarEnergy's CEO, who is one of the largest liquefied gas producers in the world, said on Monday that its massive North Field expansion will produce the first LNG by the second half 2026. In May, the state-owned firm announced that the first production of the field would start in mid-2026. According to CEO Saad Al-Kaabi, the project was originally scheduled for the end this year.
Jaber, UAE's Jaber, says that oil demand will remain above 100 million barrels per day (bpd) beyond 2040.
Sultan Al Jaber said that oil demand would remain at 100 million barrels a day or more beyond 2040. He also warned of headwinds for the near future. "Geopolitics continues to shape news and trade flows. The complexity is constant. Market sentiment is what moves the markets. Volatility, to my mind, is no more a variable.
US, UK Ramp Up Pressure on India to Stop Russian Oil Imports
Western powers have ramped up pressure on Russia's oil sales amid its war with Ukraine as U.S. President Donald Trump said India would stop buying and Britain imposed sanctions on top Russian oil firms.Ukrainian President Volodymyr Zelenskiy is schedule to meet Trump in Washington on Friday to push for military and…
Algeria to invest $60 billion in energy over 5 years, says Energy Minister
Algeria will invest 60 billion dollars in energy projects from 2025 to 2029, as part of an ambitious strategy to promote oil, gas and hydrogen development, said Energy and Mines minister Mohamed Arkab on Monday. Arkab, speaking at an energy conference in Algiers said that 80% of investment would be directed towards upstream exploration and production.
Senegal plans to begin construction on a new refinery in next year
The CEO of the national refining firm SAR announced on Thursday that Senegal will begin construction of a new oil refinery in the coming year, to increase domestic processing capacity. He is looking for investments between $2 billion and $5 billion. Mamadou Abib Diop, speaking at the African Energy Conference in Cape Town…
Republic of Congo will soon pass a new gas code as it tries to attract investment
The oil minister of the Republic of Congo said that the new gas code is expected to be passed by the parliament this month. This will help the country attract more investments in the sector, which is at the core of its national agenda for development. The code establishes a legal framework to guide gas exploration, production…
Exxon Mobil eyes South Africa as a top LNG destination
Exxon Mobil has its eye on projects in South Africa, which it considers to be a top destination in the world for liquefied gas (LNG), said a senior gas executive at an African Energy Conference in Cape Town. The U.S. has the highest natural gas production and is the largest LNG exporter in the world. With several new projects expected to come online…
Ecopetrol will beat its 2025 drilling target and may even best the output target, says executive
Rafael Guzman said that Colombian state energy company Ecopetrol will exceed its goal of drilling 10 oilwells in 2025 by 20% to 40%. It has been reported that the company drilled six successful wells during the first half of this year. Guzman said on the sidelines the Acipet Energy Conference in the Caribbean city Barranquilla, "I think we'll do more than 10 times the amount planned.
Ecopetrol will beat its 2025 drilling target and may even best the output target, says executive
Rafael Guzman said that Colombia's state energy company Ecopetrol will likely exceed its goal of drilling ten oil wells in 2025 by 20% to 40%. It has been reported that the company drilled six successful wells during the first half of this year. Guzman said on the sidelines the Acipet Energy Conference in Barranquilla, a Caribbean city.
Equinor is open to options for Orsted stake
The Norwegian board chair of Equinor said that the oil group believes in the core business of offshore wind farm developer Orsted, but it is not yet at the stage where they will merge their renewables companies. Equinor, the Norwegian oil group, holds 10% of Orsted. It has also said that it will participate in Orsted's emergency rights offering to fund U.S.
Afentra signss terms for its first offshore operatorship
The London-listed oil and gas company Afentra announced on Thursday that it had signed a framework contract for its first operating license offshore Angola, in a block which has proven resources. Block 3/24 is a shallow-water oil and gas discovery with several identified exploration prospects. It is located near Afentra’s producing oil fields in Blocks 3/5 and 305A…