World Energy News

Argentinian Energy Exports Could Reach $50b in 2031

Argentina's energy exports could reach $50 billion per year starting in 2031, driven primarily by sales of liquefied natural gas (LNG), the chief executive of Argentina's state-run oil and gas producer YPF, Horacio Marin, said on Thursday.The executive, who spoke at an energy conference in Houston, said he estimates $130…

US energy and interior secretaries met executives amid market turmoil

Energy executives gathered in Houston on Sunday to discuss everything from increasing domestic oil production to Venezuelan opportunities. This was during the worst global supply disruption due to the U.S. and Israeli war against Iran. The meeting was held over dinner on the eve of the CERAWeek energy conference where oil ministers…

CERAWeek, the energy conference in Houston, returns as Iran's conflict shakes global energy markets

Next week, the world's top energy executives? will return to Houston as the escalating U.S. - Israeli war on Iran has turned into a nightmare for global energy markets. Unprecedented attacks?on infrastructure? and shipping disruptions have sent oil prices soaring as governments struggle to combat inflation and avoid recessions.

Norway's Prime Minister says Europe shouldn't cap gas prices

The Norwegian prime minister said that Europe should not cap the price of natural gas, even though costs are rising due to the conflict in the Middle East. The benchmark TTF front-month gas contract on the continent has increased by around 60% since the U.S. and Israeli war against Iran, as well as the attacks of?Tehran on ships in Strait of Hormuz.

Exxon will determine the size of the natural gas reserves in Guyana's Stabroek Block.

Guyana’s energy minister stated that Exxon Mobil continues to work on determining the size of natural resources in Guyana’s?prolific Stabroek Block as the company pursues wider development of the resource. Previous statements by the U.S. oil giant, who leads the consortium operating the Stabroek Oilfield, have stated…

Exxon’s Uaru project and Whiptail project in Guyana is moving ahead of schedule according to an executive.

Exxon Mobil’s President of Guyana Operations said that the company's fifth- and sixth-projects in Guyana, Uaru and Whiptail, are on schedule and within budget. Alistair Routledge (Exxon Guyana president) refused to give a timeline for the start-up of projects when asked by. Whiptail, meanwhile, is expected to begin production in 2027.

Venezuela tensions are set to ease, resulting in a rise in the oil production potential of Guyana

Geopolitical experts and oil specialists?said that the tiny oil-producing country of Guyana has an opportunity to expand its economy amid the ongoing U.S. activities in Venezuela. This is ahead of the Guyana Energy Conference. The 'growth potential' of Guyana was the focus at the four-day conference that began on Tuesday, in Georgetown.

Executives say Trinidad's Atlantic Liquefaction Project will begin to remove the liquefaction units in Q4.

Michael Daniel, director of capital projects at Atlantic LNG in Trinidad and Tobago, announced on Tuesday that the project's flagship, the liquefied?gas? project, would begin to remove one of its liquefaction train from operation during this last quarter. Train 1 has not been producing LNG?for more than a year but it is still in operation because all utilities…

Trinidad's Atlantic LNG Project to Decommission Liquefaction Train

Trinidad and Tobago's flagship liquefied natural gas project, Atlantic LNG, will begin removing one of its liquefaction trains from operations in the last quarter this year, its director for capital projects, Michael Daniel, said on Tuesday.The project's shareholders, including Shell, BP and Trinidad's National Gas Company…

Trinidad's BP head says the company is interested in cross border opportunities with Venezuela

BP's Trinidad and Tobago head said Monday that the oil and?gas?major was still interested in cross border opportunities with Venezuela despite a?government in Caracas that suspended all bilateral energy deals with its neighbor in last year. BP and Shell were granted licenses to develop offshore natural-gas projects along the maritime?border by the U.S.

US oil companies juggle Venezuelan opportunity and investor concerns ahead of White House Summit

U.S. Oil executives will weigh the business potential of Venezuela and the enthusiasm expressed by President Donald Trump against the cautious attitude expressed by their investors when they are summoned to meet at the White House this Friday to discuss possible investment plans. Speaking at the Goldman Sachs Energy?conference held in Miami…

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.

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…

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