Petrobras and SBM are in discussions over FPSOs to be used for deepwater projects at Sergipe
Petrobras, Brazil's state oil company, is currently in negotiations with SBM Offshore about two floating production ships to be used for the Sergipe deepwater project. The head of Petrobras Exploration and Production announced this on Wednesday. Sylvia Anjos, Petrobras's spokesperson, said that the company hopes to reduce costs and accelerate delivery of both vessels.
EU pools companies' requests to buy more non Russian gas
In the coming weeks the European Union will begin pooling the demand for gas from European companies, said its energy commissioner, as it attempts to accelerate its efforts to phase-out Russian energy. The EU is currently negotiating proposals that would ban all Russian gas and oil imports by the end of January 2028.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the second week running.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the second consecutive week for the first since September. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending October 24 to reach 550, its highest level since June.
EUROPE GAS-European gas prices rangebound amid softer demand
Gas prices in the Netherlands and Britain traded within a narrow range Tuesday morning as temperatures remained stable and heating demand was lower. The supply of LNG and Liquefied Natural Gas (LNG), as well as that from Norway, remained stable. LSEG data shows that the benchmark Dutch front-month contract was up 0.10 euros at 31.65 Euro per Megawatt Hour (MWh)…
German wind downturn boosts spot prices
The European immediate prices were lifted on Tuesday by the expectation of a sharp decline in German wind energy generation. This will turn the country into an importer the next day. The German signal is positive. LSEG analyst Xiulan Xiulan said that wind supply has decreased significantly. He also cited rising German demand.
EU agrees to end Russian gas imports gradually by January 1, 2020
The Council of the European Union reported that the EU energy ministers backed on Monday the proposal to eliminate Russian gas and oil imports into the EU by January 2028. At a meeting held in Luxembourg, the ministers approved plans that would gradually phase out all new Russian gas import agreements from January 2026.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since three weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending October 17. Baker Hughes reported that despite this week's increase…
Spain's gas infrastructure is ready for a faster Russian LNG ban. CEO of the company says
Enagas, the Spanish gas grid operator, is prepared to ban Russian Liquefied Natural Gas by 2027 in case the EU moves up its phase-out date to this date. This was stated by Arturo Gonzalo, CEO of Enagas. The EU is currently negotiating legal proposals that will end Russian gas and oil imports in January 2028. Sanctions would also ban Russian LNG one year earlier.
Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in six weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation this week, the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10 to 547. Baker Hughes reported that the total number of rigs is down 39…
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation for the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10. Baker Hughes reported that oil rigs dropped by four this week to 418…
First political hurdle cleared for EU's plan on phase-out of Russian energy
EU diplomats reported that the ambassadors of European Union countries agreed on Wednesday to push ahead with the plan to stop Russian oil and natural gas imports by the year 2028. This agreement cleared the first political hurdle for the law before it is voted on later this month. The EU is currently negotiating proposals that would phase out Russian gas and oil by January 2028.
EUROPE GAS - Prices rise after Ukraine attacks on gas infrastructure and colder forecasts
Dutch and British gas rates rose on Monday morning, as colder weather forecasts increased demand for heating. Worries over Russian attacks against Ukrainian gas production may also have contributed to the increase. LSEG data shows that the benchmark Dutch front-month contract was 32.70 euros per Megawatt Hour (MWh) or $11.19/mmBtu at 0935 GMT. This is an increase of 1.32 euros.
Baker Hughes reports that US oil and gas drillers have reported the same number of rigs for the week, 549.
Baker Hughes, a leading energy services company in the United States, said that this week U.S. firms kept the number oil and gas rigs almost unchanged. In the week ending October 3, the rig count, including a miscellaneous group, which is an early indicator of future production, remained at 549. Baker Hughes reported that the total number of rigs was 36…
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…
Baker Hughes reports that the US oil and gas rig counts have reached their highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the fourth consecutive week for the first since February. The number of oil and gas drilling rigs, a good indicator of future production, increased by seven in the week ending September 26 to 549, its highest level since June.
Baker Hughes reports that the US oil and gas rig count has reached its highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for a fourth consecutive week for the first since February. In the week ending September 26, the oil and gas rig counts, a leading indicator of future production, increased by seven, to 549, its highest level since June.
Slovakia's Fico wants to find a 'common ground" with the US over Russian energy supplies
Robert Fico, the Slovak prime minister, said that Slovakia expected to find "common grounds" with the United States following pressure to stop Russian energy purchases. He defended receiving supplies in Moscow. The European Union wants to isolate Russia in anticipation of its invasion of Ukraine in 2022 and has halted purchases of Russian fuel, which could provide revenue for the war.
Russia downgrades gas exports, production outlook
Russia's forecasts for 2025 gas and oil exports have been lowered, while projections on oil exports have increased. The fallout of its conflict with Ukraine as well as its strained relations with the West continue to impact the energy sector. While Russia's economy is still thriving despite the sanctions, signs of stress are appearing in several industries.
Exxon not the only company that is interested in returning to Russia, says Kremlin
When asked on Wednesday about the possibility of Exxon Mobil returning to Russia, Kremlin spokesperson Dmitry Peskov said that it was not only the U.S. oil major who wanted to return. Peskov said on RBC radio that "there are more than one company interested in reincarnating their presence on the Russian Market".
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since February. In the week ending September 19, the oil and gas rig counts, a good indicator of future production, increased by three, to 542. This is its highest level since July.