Wednesday, October 17, 2018

Gas Reserves News

Excelerate, TGS Join for Argentina LNG Export Study

Image: Excelerate Energy

Excelerate Energy and Transportadora de Gas del Sur (TGS) have provisionally agreed to jointly assess the viability of an LNG liquefaction and export project at Bahia Blanca in Argentina.Argentina currently…

African Energy: Senegal Leads Local Content Drive

Photo: Centurion Law Group

Senegal is determined to become the new front runner of Africa’s local content development. This is the conclusion of a local content forum held in Dakar on Thursday, organized by Les Conférences du Quotidien…

Russia State Oil Firm Starts Drilling at New Well Offshore Vietnam

Photo: Rosneft

A unit of Russian state oil firm Rosneft, Rosneft Vietnam BV, has started drilling at a new production well in waters off the southern coast of Vietnam, the company said in a statement posted to its website…

For Big Oil, Reserve Size Matters Less Than Ever

File Image: CREDIT BSM

Oil and gas reserves life falls below 12 years, lowest level in at least 20 years. A decade ago, the news that the world's top oil and gas companies had less than 12 years of production left in their reserves…

Iran Says U.S.-Caused Oil Spike Will Slow Growth, Add to Tariff Impact

© chalermchai k/ Adobe Stock

A rise in oil prices caused by the United States' sanctions policies will hurt economic growth in China, Europe and other consumers, much like President Donald Trump's trade measures, a top Iranian official…

UAE's Adnoc Awards USD 1.6bln Contract to China’s CNPC

Image: ADNOC

The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres…

Keppel Wins FPSO, FSRU Contracts

In Brazil, Keppel FELS Brasil Ltda (Keppel FELS Brasil) has been engaged by MODEC Offshore Production Systems (Singapore) Pte Ltd., part of the MODEC, Inc. group, to undertake the topside module fabrication and integration of the FPSO Carioca MV30…

Centrica Wins Contract to Process Gas from Tolmount Field

Centrica Storage Limited has been awarded a 120 million pound ($153 million) contract to process gas from the Tolmount field in the North Sea, which will help extend the life of its gas terminal in Yorkshire until at least 2030…

DNV GL sees oil demand peaking in 2023

(Photo: Eric Haun)

Global oil demand will peak in 2023 as electric vehicles (EVs) become competitive with cars fuelled by petrol and diesel, and after 2040 no new oil developments will likely be needed, quality assurance and…

Total, Sonatrach Strengthen Cooperation in Natural Gas

Map: Total

French energy group Total and Algerian state-owned firm Sonatrach have signed new agreements, including a contract to develop the Erg Issouane gas field and plans to create a joint venture.The new concession…

Lebanon Begins Offshore Oil & Gas Exploration

Lebanon's search for its first oil and gas reserves began on Tuesday after authorities approved an exploration plan submitted by a consortium of France's Total , Italy's Eni and Russia's Novatek. Energy and…

Clash of the Russian Energy Titans

(File photo: Rosneft)

Russian energy major Rosneft is increasingly challenging domestic rival Gazprom in international gas markets, from West Africa to Turkey and even Europe, according to five industry sources with knowledge of the matter.Last week…

Phoenix Petroleum, CNOOC Partner for LNG Terminal

© Wojciech Wrzesien / Adobe Stock photo

Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural…

How Shell Hid a Whale Before Placing Mexican Oil Bet

File Image: A typical Gulf of Mexico offshore oil platform (CREDIT: Adobestock / (c) Mike Mareen)

Announcement of Whale well discovery delayed until auction. The gasps in the audience were clearly audible at the auction of Mexico's oil blocks a month ago as Royal Dutch Shell's hefty bids were announced one by one.

More Exploration off Norway Needed to Maintain Output -Petoro

Grethe Moen, Petoro president and CEO (Photo: Emile Ashley / Petoro)

Oil companies must explore for more offshore oil and gas reserves if Norway is to maintain energy production at its current level, state-owned oil firm Petoro said on Wednesday. Petoro holds stakes in several…

China Says to Have "Prudent" Oil Exploration with Philippines

© Anton Balazh / Adobe Stock

China will prudently advance cooperation with the Philippines on joint oil and gas exploration in the South China Sea, China's top diplomat State Councillor Wang Yi said on Wednesday after meeting his Philippine counterpart.

Bahrain: New Field has 80 bln Barrels of Reserves

File Image (CREDIT: AdobeStock / (c) Edelweiss)

Bahrain's oil minister said on Wednesday that the estimated oil reserves in a newly discovered field, the kingdom's largest ever, is at least 80 billion barrels of tight oil. Bahrain said on Sunday it had…

To Frack or Not to Frack? Australia's NatGas Dilemma

File Image (CREDIT: AdobeStock / © Shamtor)

The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines.

Golar LNG Enters Preliminary Deal for BP FLNG

Golar LNG Limited announced it has entered into a Preliminary Agreement and exchanged Heads of Terms (HoT) for an FLNG vessel for phase 1A of the Greater Tortue / Ahmeyin field, located offshore Mauritania…

Bangladesh Finalizes LNG Deal with Oman Trading International

© Anatoly Kolodey / Adobe Stock

Bangladesh has finalized a 10-year deal to import 1 million tonnes of liquefied natural gas (LNG) annually from Oman Trading International, two energy officials with direct knowledge of the matter told Reuters.The…