Monday, August 3, 2020

Gas Use News

Japan's Seven & i to Buy Marathon Petroleum's Speedway Gas Stations for $21B

Illustration only - Image by Daniel Case / CC BY-SA 3.0

The Japanese owner of 7-Eleven convenience stores has agreed to buy Marathon Petroleum Corp's Speedway gas stations for $21 billion, brushing aside coronavirus concerns to return to…

ConocoPhillips to Reverse Most Output Cuts by End of Q3

(File photo: ConocoPhillips)

ConocoPhillips said on Thursday it expects production curtailments in the current quarter to be roughly half as much as last quarter and will restore most of its output by the end of September…

Total Books $8 Bln Asset Impairments

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French energy group Total will book an exceptional impairment charge of $8 billion mainly on its Canadian oil sands and liquefied natural gas projects, it said on Wednesday."Overall, the exceptional asset impairments that wil

US-China Cold War Would Redirect Energy Flows

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Worsening diplomatic relations between the United States and China are putting a spotlight on their economic inter-dependency in the context of global supply chains for both technology…

China Starts Construction of Southern Part of China-Russia East Gas Pipeline

Illustration - hanmaomin / AdobeStock

Construction has started on the southern portion of the China-Russia East natural gas pipeline, which carries supplies from the Power of Siberia system in Russia, China Oil & Gas Piping…

US Oil Rig Count Rises for First Week Since March

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U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 12th week in a row, although they added one oil rig in the first weekly increase since March…

Webinar: Floating Production Forecasts & Analysis

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A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in…

PipeChina to Buy $56B Worth of Pipelines

Illustration - hanmaomin

China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing to buy pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion).Under the deal…

Tech File: Hybrid-Electric Propulsion for Crew-less Vessels

Image: XOCEAN/Torqueedo

The move to autonomy on the world's waterways is undeniable, with the direction clear, the pace hazy. What is clear is the need for reliable, fuel efficient propulsion, and last month…

Webinar: Floating Production Forecasts & Analysis

© sedsembak / Adobe Stock

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in…

Marine Scrubbers: Yara Marine Plots the Path Forward, Post-COVID-19

The coronavirus turned our world upside down virtually overnight,” said Ina Reksten, COO, Yara Marine Technologies.

Yara Marine Technologies COO Ina Reksten and Research and Development Manager Shyam Bahadur Thapa reflect on the effects of the coronavirus crisis and share their vision for a future…

Oil Search Q2 Revenue Falls About 30%

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Australia-listed Oil Search Ltd on Tuesday reported a near 30% drop in second-quarter revenue, hurt by a sharp decline in oil and gas prices as demand plunged due to the coronavirus pandemic.The Papua New Guinea-focused oil a

Santos Flags $560 Mln Impairment Charge on Virus-led Oil Slump

(File photo: Santos)

Australia's Santos said on Tuesday it will book non-cash impairments of up to $560 million after tax, joining a number of global energy majors forced to write down assets after a coronavirus…

Chevron CEO Sees Continued 'Choppy Economic and Price Activity'

Mike Wirth (Photo: Chevron)

The chief executive of U.S. oil giant Chevron Corp on Monday said the uncertainty of the COVID-19 pandemic has it planning for "choppy" oil prices and economic activity globally.Chevron…

Gazprom Neft Sells Its First Arctic Oil Cargo to China

© Owen Foley / MarineTraffic.com

Russia's Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday.This week, Gazprom Neft said it had sent 144,000 tonnes of light Novy Port oil

Opinion: Egypt Banks on Renewables to Meet Expected Energy Demand Surge

Photo courtesy: Wärtsilä Energy Business

To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the…

Woodside's Revenue Slumps More than Expected

For illustration; North Rankin Complex, North West Shelf Project, Western Australia - Credit: Woodside

Australia's Woodside Petroleum Ltd reported a worse-than-feared 29% drop in quarterly revenue, hit by weak spot liquefied natural gas (LNG) prices, but said it still expected to book…

Gazprom Aims to Increase Gas Supplies to China

(File photo: Gazprom)

Russia's Gazprom is committed to supply as much as 130 billion cubic meters of gas (bcm) to China annually in the longer term, a company official told a conference call on Tuesday.Gazprom…

MOL Makes 13th Discovery in Pakistan

Hungarian oil company MOL has made a gas and condensate discovery at its TAL Block in Pakistan, marking its 13th successful discovery in the country and the tenth at the same block.The…

Poland to Merge Four Energy Groups with Aim to Make International Player

Image by Atstock Productions/AdobeStock

Poland laid out plans on Tuesday to merge four of its largest energy groups in a move the government hopes will create a player able to compete in international oil, gas and electricity markets.PKN Orlen…