$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…
Eni CEO: Oil markets do not expect closure of the Hormuz Strait
Eni's CEO, Eni of Italy, said that oil markets were signaling an unlikely escalation of tensions between Israel and Iran or the closing of the Strait of Hormuz. The Strait of Oman, located between Oman and Iran, connects the Gulf of Oman in the north with the Gulf of Oman in the south. It also links the Arabian Sea to the east.
Saudi Aramco CEO: Oil and gas is important during times of conflict
Saudi Aramco's head told a Monday energy conference that oil and gas are important in times of conflict, as we can see right now. Aramco CEO Amin Nasser gave his speech at the Energy Asia Conference held in Kuala Lumpur via video link. The oil prices rose last week, after Israel, claiming to have launched attacks against Iran on Friday in order to stop Tehran from building atomic weapons…
South Africa's $5.8 billion Project Aims to Produce Low-Cast Green Ammonia
A $5.8 billion project on South Africa's east coast seeks to use the country's infrastructure and cheap renewable power to make some of the world's cheapest green ammonia for clients in Europe and Asia, an executive said.South Africa is vying with other African nations, including Egypt, Morocco and Namibia, to meet rising demand in the European Union and Asia for hydrogen and ammonia describe
South Africa's Hive project, worth $5.8 billion, aims to be the leader in low-cost ammonia production
An executive revealed that a $5.8 billion South African project located on the east coast aims to use cheap renewable energy and the country's infrastructure to produce some of the cheapest green ammonia in the world for clients from Europe and Asia. South Africa competes with other African nations including Egypt, Morocco…
Shell to Add Up to 12 million Tons of LNG Capacity by 2030
Shell, the world's largest trader of liquefied natural gas, will add up to 12 million metric tons of additional capacity between now and the end of the decade from projects under construction, a top executive said on Wednesday."(There is) up to 12 million tons of additional (LNG) capacity that we're adding between now and the end of the decade…
Shell will add 12 million tonnes of LNG capacity to its existing LNG production by 2030
Shell, the largest trader in liquefied gas in the world, plans to add 12 million metric tonnes of capacity from now until the end of this decade, according to a senior executive on Wednesday. Shell's integrated gas president, Cederic Crémers, told Wood Mackenzie’s Gas, LNG, and the Future of Energy Conference, held in London, that Shell would add up to 12,000,000 tons of (LNG).
Executive of Malaysian energy company Petronas says that the company has no plans to leave Canada
The CEO of Petronas' Canadian subsidiary, who spoke on Tuesday, said that the Malaysian company has no plans to abandon Canada. He added that the company was committed to exporting LNG off Canada's West Coast for decades. Petronas Canada's CEO Mark Fitzgerald said that the rumor of Petronas leaving Canada was "absolutely not true" on the sidelines an energy conference held in Calgary.