EIA: US power consumption will reach new highs by 2025 and 26.
The Energy Information Administration (EIA) said Tuesday that the U.S. will reach record-high power consumption in 2025 and in 2026. The EIA projects that power demand will increase to 4,187 billion Kilowatt-hours in 2025, and 4,305 in 2026.
TotalEnergies and South Korea's KOGAS Sign 10-Year LNG Supply Deal
TotalEnergies announced on Tuesday that it has signed a 10-year agreement with KOGAS to supply 1 million metric tonnes of liquefied gas (LNG), starting in 2027. In a joint announcement, the companies stated…
Energy secretary: Russian gas sales to China will not harm US
Energy Secretary Chris Wright stated on Friday that the U.S. fuel exporters would not be affected by any Russian gas sales to China. Russia and China approved a new gas pipeline, Power of Siberia 2 this week.
CNOOC's first-half profits fall 13% due to lower oil prices
CNOOC, the Chinese offshore oil-and-gas major, reported a 13% drop in its interim net income as lower oil prices countered the impact of record oil and natural gas production. According to a Hong Kong Stock Exchange filing…
EIA: US power consumption will reach new highs by 2025 and 26.
The Energy Information Administration (EIA) said Tuesday that the U.S. will reach record-high power consumption in 2025 and in 2026. The EIA predicted that power demand would rise to 4,186 kilowatt hours (kWh) by 2025, and 4,284 kWh by 2026.
Santos adjusts its 2025 production forecast in response to the Cooper Basin Floods
Santos, Australia's largest oil and gas company, tightened its production forecast for the full year on Thursday in order to take into account flood-related disruptions. It also reported a decline of more than 2% in its second-quarter revenue.
EIA: US power consumption will reach new highs by 2025 and 26.
The U.S. Energy Information Administration stated in its short-term outlook for energy on Tuesday that the U.S. will reach record levels of power consumption in 2025 and in 2026. The EIA predicted that the power demand would rise to 4…
Engie buys DNO's Norwegian gas production for four years
The Norwegian company DNO announced on Wednesday that it had sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie at an undisclosed price.
Israel's Leviathan Gas Field to Restart Operations After Shutdown During Iran Conflict
Israel's NewMed announced on Wednesday that the Leviathan gas field, which supplies gas to Egypt, Jordan and the Middle East, was shut down almost two weeks ago because of the Iran-Israel war, but would be reopened in a few hours.
Russia's budget revenues from oil and gas fell 35% year-on-year in May
The Finance Ministry reported on Wednesday that Russia's oil revenue fell by 35% to 512.7 billion roubles (about $6.55 billion) in May compared to the same month a previous year. This would make Russia…
Gazprom's Q1 net profit reaches $8.4 billion
Gazprom, a Russian energy company, reported that its first-quarter net profit rose around 1% from the same period in the previous year. Sales and the rouble's exchange rate were also higher. Gazprom reported…
Malaysia's Petronas targets China and Vietnam while looking for long-term LNG supplies
A Malaysian company, Petroliam Nasional or Petronas aims to increase its liquefied gas sales in markets like China and Vietnam, while also seeking to secure a more long-term supply of North America and emerging market markets.
Indonesia approves Kuwaiti explorer to develop Anambas block in Natuna Sea
Officials said that the Kuwait Foreign Petroleum Exploration Company has received approval to develop the Anambas Block in Indonesia where it hopes to acquire additional projects. KUFPEC plans to invest…
ADNOC's XRG acquires stake in Turkmenistan Gas Block
XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), announced on Wednesday that it had acquired a stake in a Turkmenistan offshore natural gas block as part of its ambitious expansion plans.
Aramco signs MoUs for 6.2 Million Tons of LNG with NextDecade and Sempra
Saudi Aramco, the oil giant, will sign memorandums of understanding on Tuesday with NextDecade, a U.S. natural gas producer, and Sempra, a utility firm, according to Aramco’s CEO. The move comes as Aramco expands its LNG market.
Kremlin: Russia and US have begun talks about Russian gas flowing to Europe
A Kremlin official confirmed on Friday that the issue of Russian gas shipments into Europe was being discussed in talks between Russia, and the United States. This confirms an exclusive report from a day before.
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…
EIA: US power consumption will reach new highs by 2025 and 26.
The U.S. Energy Information Administration (EIA) said Tuesday that the U.S. will reach record levels of power consumption in 2025 and in 2026. EIA projects that power demand will increase to 4,205 billion Kilowatt Hours (kWh) by 2025…
PetroChina's profit for the first quarter increased by 2.3% due to natural gas sales
PetroChina, China's largest energy producer, posted a 2.3% increase in its first-quarter profits on Tuesday. The company cited higher natural gas production, even though poor margins affected the refined products business.
Document shows that Russia has reduced its estimate of energy export revenue by 15% for 2025.
According to a document from the Economy Ministry, Russia's forecast for oil and gas export revenue for 2025-2027, which is a major source of funding for state budgets, has been cut by 15% due to lower oil prices.