Sinopec to Begin Work on $3.7b Crude Oil Refinery
Sri Lanka expects Chinese state energy giant Sinopec to start work on a $3.7 billion refinery this year and is considering the company's long-standing demand to sell more fuel locally, the energy minister said on Tuesday.The Sinopec refinery…
ConocoPhillips announces it will reduce its workforce by 20-25%. Shares fall
ConocoPhillips, the U.S. oil-and-gas producer, will reduce 20-25% its workforce in a restructuring that is expected to take place over the next few months, according to a spokesperson for the company. Five sources had…
Nigeria's TotalEnergies deal marks shift to gas development
The Nigerian production-sharing agreement with TotalEnergies will be a model for future agreements, according to the oil regulator. It is the first contract based on a new law aimed at boosting the gas production of the OPEC country.
Technip Energys selected by Commonwealth LNG for US LNG Project
Commonwealth LNG, a U.S. company, announced on Monday that it had selected Technip Energies, a French firm, to provide Engineering, Procurement, and Construction (EPC) for its 9.5 million tonne per annum (mtpa), LNG facility located in Cameron Parish, Louisiana.
Spain's Endesa faces a $240 million claim for a LNG contract dispute
In a financial statement published on Tuesday, Endesa said that it faces claims for $240 million in an arbitration process relating to a review of the price of a long term contract of supply of liquefied gas. It said that the amount could change during arbitration…
Sources: BP chartered tanker leaves sanctioned Nayara Energy port without loading oil
According to five sources in the industry and shipping data from LSEG, oil tanker Talara chartered by energy giant BP has left Vadinar, India's newly-sanctioned refiner Nayara Energy, without loading diesel, as planned.
BP will sell its US onshore wind business for an undisclosed amount to LS Power
BP announced on Friday that it had agreed to divest its U.S. Onshore Wind business to U.S. based power grid operator LS Power as part of its ongoing strategy to divest. The energy giant did not disclose the deal's value.
EBRD lends Moldova 400 million euros for energy security
The European Bank for Reconstruction and Development announced on Tuesday a 400 million euro loan ($468 million) to the state-owned energy company Energocom of Moldova for purchasing gas and electricity on European markets…
Source: Russian government talks tax relief for Gazprom
A government source revealed on Monday that the Russian government is considering tax reliefs for the energy giant Gazprom. These could be offset by higher taxes on gas producers in general. Novatek and Rosneft, two other major gas producers in Russia, are also listed.
Gazprom says that the US and Chinese purchases of strategic reserves may offset Russia's oil surplus.
The head of Russian oil producer Gazprom said that the U.S., China and other countries' purchases of strategic oil reserves will offset any global surplus to keep oil prices in check. The eight members, who are OPEC+ and include Russia and other producers…
WGC-TotalEnergies CEO wants to lift the force majeure on Mozambique Liquefied Natural Gas project
TotalEnergies, said Chief Executive Patrick Pouyanne on Tuesday, will ask Mozambique for its approval to lift the force majeure on their $20 billion liquefied gas (LNG), project in Mozambique and resume construction before mid-summer.
TASS: Gazprom is working on a new gas contract with Serbia.
The Kremlin's energy giant Gazprom has been working on a gas supply contract for Serbia, according to TASS. Alexander Novak, Russia's Deputy Premier was quoted as saying this on Monday. Serbia, which has historically had close ties with Moscow…
TurkStream gas pipeline may slow down EU-Russia decoupling
May 7 - While the European Commission has announced a revised plan to wean Europe off Russian energy completely by 2027, some parts of Europe have taken the opposite approach. The TurkStream pipeline is not only still operating, but has expanded its gas supply.
Gazprom, the Russian energy giant, will return to profit in 2024 with earnings of $14.8 billion
The Russian energy giant Gazprom reported a net profit for the full year 2024 of 1.2 trillion Russian roubles (14.76 billion dollars) compared to its loss in previous years. This was due to a better gas business as well…
Woodside Energy, Australia signs LNG deal with BP to supply Louisiana project
Woodside Energy, a major Australian oil and natural gas company, announced on Wednesday that it had signed a deal with BP under which the British energy company would supply natural gases to its Louisiana liquefied gas project (LNG).
BP discovers oil off US Gulf Coast
BP announced on Monday that it had made an oil find at the Far South Field in the U.S. Gulf of Mexico. The energy giant is seeking to increase production as part of a new strategy, which was announced earlier this summer.
Bloomberg News reports that Abu Dhabi's ADNOC is considering a bid for Aethon US natgas assets.
Bloomberg News, citing sources familiar with the situation, reported Friday that Abu Dhabi's state oil company ADNOC was considering a bid to acquire natural gas assets from investment firm Aethon Energy Management, which could be worth up to $9 billion.
Rubio: An attack on Exxon or Guyana would be a 'bad day for Venezuela'
Marco Rubio, U.S. secretary of state during a Thursday visit to Guyana’s capital, said that it would be "a bad day" if Venezuela attacked its neighbor Guyana and the U.S. energy giant ExxonMobil. Guyana and Venezuela…
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow. In the event that…
US loans TotalEnergies almost $5 billion for Mozambique's gas project. FT reports
Financial Times reported that the Trump administration released nearly $5 billion to fund a project in Mozambique by France's TotalEnergies for liquefied gas (LNG). Estevao Palae, Mozambique’s Minister for Energy, told Financial Times that the U.S.