Hormuz Oil Flows Could Take Months to Recover
A recovery in oil flows through the Strait of Hormuz and oil production following the U.S.-Iran interim peace deal will take time, potentially several months, analysts at two banks said.Shipments through the strait, through which about a fifth of global oil supply passes…
Syria, ConocoPhillips, Novaterra Sign Deal to Revive Gas Production
The Syrian Petroleum Company, U.S.-based ConocoPhillips, and energy firm Novaterra signed a deal in Damascus on Tuesday to develop new gas fields and expand production at existing fields, according to a joint statement.Syria's energy infrastructure…
Bulgarian Expansion of Gas Infrastructure Remains on Schedule
Bulgaria's works to expand its energy infrastructure as part of a planned new route to carry gas between Greece and Ukraine are making progress and are running on schedule, Prime Minister Rumen Radev said on Thursday.Seeking to counter the influence of Russian oil and gas in southern Europ
Tengiz Field Oil Production Shrinks After Accident
Oil production at the Chevron-led Tengiz field, Kazakhstan's largest, fell sharply on May 26 as a result of an accident, two industry sources told Reuters on Friday.The first two sources said daily output at Tengiz, which had only just recovered from a previous incident…
Germany, Poland Discuss Replacement Oil Deliveries after Russia Plans to Halt Supplies
Germany is in talks with Poland to examine whether short-term and temporary replacement oil supplies could be delivered to the PCK Schwedt refinery via the port of Gdansk after Russia said it would halt the supply of Kazakh crude oil via the Druzhba pipeline, a spokesperson for the German
India Loads LPG onto Its Empty Vessels Stranded in the Gulf
India is loading liquefied petroleum gas onto its empty vessels stranded in the Persian Gulf as the country grapples with a gas shortage triggered by the conflict in the Middle East, an official from the federal shipping ministry said on Tuesday.Eight LPG carriers…
Equinor CEO: We Have No Spare Capacity for Oil and Gas
The CEO of Norway's state-controlled company Equinor said that the company does not have any spare capacity to increase its oil and gas output due to Middle East supply shortages."Our focus today is on making sure we are seen as a reliable…
Deutsche Offshore Schifffahrt Starts Construction of C-CSOV Fleet in China
Deutsche Offshore Schifffahrt (DO) has started construction of a new fleet of construction commissioning service operation vessels (C-CSOVs), with the first steel cut for the lead vessel DO Joule at CSSC Huangpu Wenchong Shipyard in Guangzhou…
Oil companies reject Trump Administration's Alaska Offshore Auction
The Trump administration sold more than 400,000 acres (406,876 hectares) of land in Alaska's Cook Inlet on Wednesday, but no oil and gas drillers showed up. They refused to make a bid.The One Big Beautiful Bill Act of U.S. president Donald Trump…
Namibia Flags Approval Need for TotalEnergies, Petrobras Offshore Stakes
Government officials stated on Sunday that Namibia would not recognize the purchase of offshore stakes by TotalEnergies or Petrobras announced last week until the oil companies followed the proper approval route.A spokesperson for the Presidency…
Venezuelan Oil Exports Increase to 800,000 bpd in January Under US Control
Venezuelan oil exports rose to some 800,000 barrels per day (bpd) in January, from 498,000 bpd in December, after the U.S. capture of Nicolas Maduro and the ending of an oil blockade which has let traders carry most exports, shipping data…
Kuwait Readies $7b Pipeline Deal as Gulf Turns to Foreign Investors
Gulf governments are stepping up infrastructure deals with foreign investors, with Kuwait set to launch an oil pipeline network stake sale as soon as February in a deal that could raise up to $7 billion, three sources with knowledge of the matter said.The shift comes as oil prices…
Chevron to Boost Exports of Venezuelan Oil to US in March
Oil producer Chevron is set to boost exports of Venezuelan crude to the U.S. to some 300,000 barrels per day (bpd) in March, from 100,000 bpd in December and some 230,000 bpd so far this month, two sources with knowledge of the plans said on Wednesday.The U.S.
Kazakhstan to Divert Kashagan Oil to China After Ukraine Drone Attack
Kazakhstan said on Wednesday it would redirect some oil from its Kashagan field to China and other routes after a Ukrainian drone attack last month on the Caspian Pipeline Consortium's Black Sea terminal in Russia.The decision was announced…
Venezuela Reopens Wells as Exports Resume
Venezuela's state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday, three sources close to operations…
Lukoil Trading Arm Falls Apart Under US Sanctions
U.S. sanctions are dismantling what remains of Lukoil's Litasco, once Russia's biggest oil trader and a rival to top Swiss houses and oil majors, five sources told Reuters.The measures, which also target state-owned Rosneft, took effect…
Oil Firms in Norway to Drill 18% Less Exploration Wells by 2026, Survey Finds
A survey on Thursday showed that oil firms in Norway are planning to drill 18% less exploration wells next, as they focus on existing fields. This could undermine the government's aim of maintaining production from Europe's biggest petroleum…
Britain Imposes Sanctions on Russia's Energy Sector
Britain imposed sanctions on Thursday on more Russian oil companies and Canadian-Pakistani billionaire Murtaza Lakhani as part of efforts to ramp up pressure on Moscow over the war in Ukraine.The government targeted 24 individuals and entities…
IEA Predicts World Oil, Gas Demand Could Grow Until 2050
Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from previous expectations of a speedy transition to cleaner fuels following U.S. criticism about its climate focus.The Paris…
Petrobras Strike-Hit P-40 Platform Shut Down After Gas Leak
According to the workers' union Sindipetro NF, a gas leak at Petrobras P-40 oil platform located in Brazil's 'Campos basin' on Thursday led to a preventive shut down of all activities. According to the Sindipetro-NF union, the platform…
