Shell is in advanced talks with Venezuela about more gas fields, sources claim
Shell has advanced discussions with Venezuelan government about developing four large areas in the vicinity of Trinidad and Tobago in two of South America's largest offshore gas fields. Two people familiar with these discussions confirmed this.
China, well-positioned in a tight global market sells record LNG volumes
Chinese firms are reselling record amounts of LNG to cash in on the soaring spot prices. China has plenty of 'domestic gas and pipeline gas' to meet its weakened demand, unlike other Asian buyers who scramble…
PetroChina's net profit for 2025 drops 4.5% due to lower oil prices
PetroChina, Asia's biggest oil and gas producer said on Sunday that its 2025 net annual?profit fell 4.5% from the record set in 2024 as lower oil prices affected earnings. PetroChina reported in a filing with…
Australia LNG continues to disrupt after Narelle Thousands without power
Australia's liquefied gas production remains disrupted, and thousands of people in the remote north were left without electricity on Sunday. This is more than a fortnight after the Narelle Storm System hit the country.
Australia LNG continues to disrupt after Narelle, thousands of people without power
On 'Sunday', Australia's liquefied gas production was still disrupted. Thousands of people in the remote north were without power for more than a month after the Narelle Storm System?hit Australia. The impact of?Narelle…
Russian drones damage infrastructure, including a maternity hospital and key infrastructure in Ukraine.
Ukraine's officials said that Russia had launched waves of drone attacks against Ukraine. The attack resulted in the deaths of four people, and damage to gas production facilities, port infrastructures, residential buildings, and a maternity ward.
Zelenskiy: Ukraine reaching agreement on Middle East diesel supplies
The Ukrainian president Volodymyr Zelenskiy stated on Friday that Kyiv is working to reach an agreement with Middle Eastern countries on diesel supplies, the type of fuel most in demand in the country. Zelenskiy…
Oil and gas exploration is back. Energy giants are hunting to replenish reserves
Executives at the CERAWeek Conference in Houston, Texas, this week declared that global energy companies have returned to the basics, focusing their efforts on finding?new oil and gas sources. This marks the end of years of underinvestment.
Chevron reports gas outage in Australia due to Cyclone
Chevron announced 'on Friday that it is working to restore the production at its Gorgon and Wheatstone liquefied natural gas facilities in Australia, following production outages likely caused by Tropical Cyclone Narelle.
After a month of high energy prices, Big Oil will reap billions in profits from the war with Iran
While Big Oil executives met this week to discuss the largest-ever disruption to global energy supply due to the conflict in Iran, they didn't address one aspect of the impact: the multi-billion-dollar windfall…
CNOOC 2025 net profit drops 11.5% despite record production
CNOOC, China's oil and gas giant, announced on Thursday that its net profit for 2025 fell by 11.5% compared to the previous year due to lower crude oil prices. This was despite record oil and natural gas production.
CNOOC's 2025 net profits drop 11.5% despite record production
CNOOC, China's oil and gas giant, announced on Thursday that its net profit for 2025 fell by 11.5% compared to the previous year due to lower crude oil prices. This was despite record oil and natural gas production.
Market operator: Australia gas supply crunch will be delayed until 2030
The feared gas shortage in Australia's east has been delayed by one year, to 2030. This is due to the coal power extension, falling consumption, and rapid battery uptake. "Practical actions make a difference." "More renewables…
Shell CEO warns that energy shortages could occur in Europe by the end of next month.
Shell CEO Wael Sawan warned on Tuesday that energy shortages in Europe could occur by the end of next month. Sawan added that Shell is working with governments in order to address the energy crisis. This includes storage and purchasing.
European Energy Shortages Could Be Felt By April
Energy shortages could hit Europe by next month, Shell CEO Wael Sawan said on Tuesday, adding that securing adequate energy supply was critical to national security.Countries cannot have national security without energy security…
Danish funds challenge Nordea at AGM over Arctic Oil
A shareholder resolution urging Nordea to stop funding companies that are expanding Arctic oil and natural gas production is supported by at least?three Danish institutions investors. The pension funds Akademiker…
Danish funds challenge Nordea at AGM over Arctic Oil
Two Danish institutional investors have backed a shareholder resolution calling on the Nordic region's largest bank,?Nordea, to cease all financing of companies that are expanding Arctic oil and gas production due to environmental risks.
Egypt has announced that it will pay arrears of $1.3 billion to oil companies in June
The petroleum ministry announced on Saturday that Egypt would pay $1.3 billion in arrears owed to international oil companies by June. This is a significant acceleration of the previous timetable. Egypt had…
Ukraine Looks to Partner With Romania to Develop Black Sea Gas Discovery
Ukraine's Naftogaz, which discovered "substantial" offshore gas reserves in the Black Sea before Russia's invasion, is in talks with Romania's OMV Petrom to form a partnership relating to the field, three…
China crude oil production in January and February was up by 1.9% on an annual basis.
Official data released on Monday showed that China's crude oil output in January and February rose by 1.9% when compared with the same period of last year. This was largely due to higher refinery operating rates.