Indonesia offers three new oil blocks
An official from the Energy Ministry said that Indonesia has opened a new round of oil-and-gas block tenders, and offered three new blocks to contractors. This is part of efforts to increase energy supplies. Indonesia's oil production has declined over the last decade as reserves have been depleted.
WGC-Woodside CEO: WGC-Woodside anticipates global gas consumption to increase by 50% between now and 2030
Meg O'Neill, CEO of Woodside Energy Australia, said that the company expects global gas consumption to grow by 50% between now and 2030. O'Neill stated at the World Gas Conference that "the message is very consistent and clear" regarding the need for reliable, affordable energy in nations who are on the road to net zero. Gas is a major part of this mix.
Continental Resources, a US oil company, claims that Hess has defrauded them of $69 Million
Continental Resources, a U.S. producer of shale gas, has filed a suit against Hess Corp. The lawsuit alleges that the company was defrauded of up to $69,000,000 through a series deals conducted by Hess Corp. with its subsidiaries. Continental claimed that Hess - which operates hundreds wells…
Brazil's Petrobras to simulate emergency plan for Foz do Amazonas basin
The Brazilian Environmental Agency Ibama approved on Monday the state-run Petrobras concept for an emergency plan that would assist local fauna if there was an oil spillage in the Foz do Amazonas Basin. This move allows Petrobras a simulation of their plan. It could be the final step before…
Germany: Europeans should pressurize Russia with sanctions
German Chancellor Friedrich Merz announced late Monday that European leaders had agreed to increase the pressure on Russia via sanctions after U.S. president Donald Trump briefed on his conversation with Russian President Vladimir Putin. On Monday, the European Union leaders, France, Italy and Germany…
TASS: Gazprom is working on a new gas contract with Serbia.
The Kremlin's energy giant Gazprom has been working on a gas supply contract for Serbia, according to TASS. Alexander Novak, Russia's Deputy Premier was quoted as saying this on Monday. Serbia, which has historically had close ties with Moscow, but aspires also to join the European Union is heavily dependent on Russia for its natural gas.
Haddad, Brazil's Haddad, supports research on oil deposits near the mouth of Amazon
Fernando Haddad, the Finance Minister of Brazil, said that while the search for oil near the mouth the Amazon River must continue in Brazil, any discoveries made should not slow down the country's transition towards cleaner energy. The mouth of the Amazon, a vast area stretching between Rio Grande do Norte (Northern Brazil) and Amapa (Southern Brazil)…
US drillers have cut oil and natural gas rigs in the third week of a row, according to Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the third consecutive week for the first since mid-April. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending May 16 to 576, the lowest level since January.
US drillers have cut oil and natural gas rigs in the third week of a row, according to Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the first week since mid-April. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending May 16 to 576, the lowest level since January.
Trafigura announces new management changes
Trafigura, a global commodities trader, announced on Friday a round of new management changes. Two people were appointed to the executive committee while one person left. These moves are the latest in the series of leadership transitions that have taken place at the Swiss-based trading firm in recent years.
Trafigura announces new management changes
Trafigura, a global commodities trader, announced on Friday a round of new management changes. Two people were appointed to the executive committee while one person left. These moves are the latest in the series of leadership transitions that have taken place at the Swiss-based trading firm in recent years.
Bloomberg reports that Mercuria is betting big on aluminum in a peace agreement with Russia.
Bloomberg News reported Thursday that Mercuria Energy Group had built up a large aluminum position at the London Metal Exchange. The company was betting on a tightening of the market if sanctions were eased against Moscow. Bloomberg reported that Mercuria has contracts for more than 1 million tons aluminum…
Legal advisor: Interra Resources did not violate foreign sanctions in Myanmar
Interra Resources, a Singapore-listed oil explorer, said that it appointed a legal adviser who found that Interra Resources had not violated U.S. sanctions or EU sanctions against Myanmar. The report comes after the activist group Justice for Myanmar made allegations that Interra supplied oil to the ruling military and committed war crimes.
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 $1.54 billion in developing the Anambas Block to produce 55 millions standard cubic feet a day with an estimated 185 trillion cubic feet of gas sales.
Japan's oil refiners reduce decarbonisation and refocus on fossils fuels
Japanese oil companies have scaled back their decarbonisation projects, including ammonia and hydrogen, as the world shifts towards fossil fuels that are more cost-effective and stable. This move is a reflection of the growing concerns about energy security and U.S. policies risks. It also reflects rising costs for materials due to inflation.
Li-Cycle, a battery recycler in Canada, files for bankruptcy protection
Toronto-based Li-Cycle, a lithium battery recycling company, announced on Wednesday it had filed for bankruptcy in Canada. It expects to begin a formal sales process for its assets or business. The U.S. divisions of the firm have also filed bankruptcy proceedings with the U.S. Bankruptcy Court of the Southern District of New York.
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. XRG was set up in late 2018 and ADNOC reported that it has assets worth $80 billion.
Venture Global delivers first US LNG cargo to Edison
Italian energy company Edison announced on Wednesday that it had received its first cargo of Liquefied Natural Gas (LNG) delivered by Venture Global, a U.S.-based firm. It added that it would pursue legal action over the delays in delivery. Edison reported that a cargo of 165,000 cubic meters of LNG…
Wall Street Journal, May 14,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Baidu will test its Apollo Go service for driverless rides in Europe, beginning with Switzerland and Turkey. The company is accelerating global expansion as the competition in China's autonomous-driving sector intensifies.
Woodside Australia and Saudi Aramco Sign Deal for Potential Louisiana LNG Share Buy
Woodside Energy, a company based in Australia, announced on Wednesday that it had signed a non-binding deal with Aramco for the exploration of opportunities. This included the possibility of the Saudi Arabian firm acquiring a stake in the Louisiana LNG Project. Woodside, Australia’s largest gas producer…
BP CEO: It's time to increase U.S. production of gas
HOUSTON, 11 March - BP will increase U.S. Natural Gas production in its onshore shale operation following the recent rise of domestic gas prices. CEO Murray Auchincloss announced this on Tuesday. Auchincloss said at the CERAWeek Conference in Houston that "with rising gas prices, it is time for the Haynesville basin" in eastern Texas.
Experts say that Trump's tariffs against steel and aluminum will increase costs for US energy companies
The proposed U.S. steel and aluminum tariffs will increase costs for U.S. Oilfield Services companies that rely on this metal for their operations. Oilfield service firms like ChampionX and Patterson UTI are the backbone for the North American oil and natural gas industry. They provide essential equipment and services to drill, produce and maintain.
CERAWEEK - Mexico's Pemex prioritises refining while diverting heavy oil from the Gulf
Margarita Perez of PMI, Mexico's company that handles trading, said Tuesday that Pemex, Mexico's state-owned oil company, expects to divert barrels of heavy crude from U.S. Gulf Coast refining companies as it ramps up its Olmeca refinery. Pemex began prioritizing refining in favor of its traditional export markets around six years ago…
Exxon Mobil to receive LNG from ARC Resources
ARC Resources announced on Tuesday that it had signed a long-term liquefied gas supply contract with a division of Exxon Mobil. In recent years, global LNG demand has increased amid a move towards cleaner energy. The U.S. is now a major supplier of both Europe and Asia. ExxonMobil LNG Asia…
Saudi Arabia's GDP will grow by 1.3% between 2024 and 2024
Preliminary government data released on Sunday showed that Saudi Arabia's economy will grow by 1.3% in 2024. This growth is due to increased non-oil activities and government initiatives. Data released by the General Authority for Statistics revealed that non-oil activities grew by 4.3%,…
Andy Home: Export ban on cobalt from Congo is not enough to eliminate the glut
The Democratic Republic of Congo has suspended cobalt exports for four months, a sign of how even the largest producer in the world is feeling the effects of historically low prices. This news has given cobalt a boost and its impact is already spreading through the supply chain. One Congolese operator Eurasian Resources Group…
CEO CERAWEEK Woodside says that the Louisiana LNG investment decision may be delayed until Q2.
Meg O'Neill, the CEO of Woodside LNG Australia, said on Monday that the company may delay a final decision on the Louisiana plant's liquefied gas project until the second quarter 2025 if talks to sell the half of the project continue. Woodside is looking to sell up to 50% of the project.
Sources: Trump wants to refine minerals on Pentagon bases in order to boost US production
U.S. President Donald Trump aims to build metals refining facilities on Pentagon military bases as part of his plan to boost domestic production of critical minerals and offset China's control of the sector, two senior administration officials told . The move is one of several planned for…
CERAWEEK - IEA chief sees investment needed in existing oil and gas fields
Fatih Birol said that the International Energy Agency in Paris, which is headed by Fatih Birol himself, has a responsibility to invest in oil and natural gas fields for the sake of global energy security. After years of pressure from fossil-fuel advocates, the pro-drilling campaign was relaunched. He said, "I would like to be clear...
Frontera says Guyana oil license remains valid amid government cancellation notice
Frontera Energy, a Canadian oil company, said Monday that its exploration license for the Corentyne Block off the coasts of Guyana is still valid. It's evaluating all legal options in order to assert its rights. Guyanese authorities gave Frontera Energy and CGX, the joint license holders, a 30 day cancellation notice for not meeting contract obligations.
CERAWEEK - Chevron CEO calls for sustainable, not extreme US Energy Policy Swings
Mike Wirth, the CEO of Chevron, said that he would prefer to see a more stable energy policy in the United States than a swing from extreme to extreme. The first weeks of Donald Trump's second term in office were marked by a rapid revamp of government, and the reversal many of the policies on energy of the previous administration.
Baker Hughes, CERAWEEK: Oil producers are unlikely to spend more this year
Baker Hughes CEO Lorenzo Simonelli stated on Monday that U.S. producers of oil and gas are unlikely to increase their spending this year. Instead, the output will be boosted by improved efficiency rather than through new drilling. The U.S. administration of President Donald Trump has repeatedly urged the oil and gas industry to "Drill baby…
Aramco CEO: More likely Elvis will speak than energy transition plans to succeed
Saudi Aramco's CEO said Monday that policymakers and energy executives should rethink their energy transition plans. They must stop investing in elements of the energy transition which have failed and instead rethink the entire energy transition. The remarks from the head the world's biggest…
US Supreme Court dismisses state climate lawsuits against oil companies
The U.S. Supreme Court on Monday rejected a bid from 19 Republican-led state led by Alabama, to stop five Democratic-led state from pursuing lawsuits against major oil companies for deceiving public about the role that fossil fuels played in climate change. The justices refused to hear a…
Whitecap Resources and Veren combine to create a C$15 billion Canadian Energy giant
The companies announced on Monday that Canada's Whitecap Resources, an oil and gas company, will merge with Veren through a merger of equals including debt in order to create a C$15 Billion ($10.43 Billion) company. The combined company is the largest landholders in Alberta Montney & Duvernay…
Hungary turns to Romania for help in diversifying its energy sources
Hungary wants to expand its gas sector cooperation with Romania to diversify energy sources. Their respective companies are already in negotiations for an agreement. Szijjarto stated that Hungary is keen to work with Romania in energy matters as Romania will soon become a net gas exporter as a result of a new offshore field starting production.
British Business – March 10,
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. Britain advises Ukraine on how to handle peace talks with the United States, while President Zelensky is on his way to Saudi Arabia.
Australian shares gain modestly as commodities support
Australian shares rose on Monday and hovered below the important 8,000-level as commodities fueled a slight recovery in the benchmark index after a selloff in the previous session amid market uncertainty. As of 2341 GMT, the S&P/ASX 200 was up 0.2% to 7963.8. The benchmark index fell 1.8% on Friday to close below 8…
Zelenskiy: Ukraine fully committed to constructive dialog with US
The President Volodymyr Zelenskiy stated on Saturday that Ukraine was "fully committed" in having a constructive dialog with U.S. officials next week in Saudi Arabia about ways to end Russia's war. Since taking office as U.S. president Donald Trump in January, he has suspended U.S. military assistance to Ukraine and intelligence sharing with Kyiv.
US drillers reduce oil and gas rigs in the US for the first time in six-weeks - Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of oil rigs for the first six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by one in the week ending March 7 to 592. Baker Hughes…
Kazakhstan commits to reducing oil production after April. Russia claims OPEC+ could reverse output.
Alexander Novak, the deputy prime minister of Russia, said that the OPEC+ had agreed to increase oil production starting in April. However the group could change its mind if market imbalances occur. Officials from Kazakhstan, who have often exceeded the OPEC+ production quotas in recent years, spoke at a briefing online almost simultaneously with Novak.
DNO buys Sval Energi in cash for $450 mln, enhancing North Sea portfolio
Norwegian oil group DNO announced on Friday that it had agreed to purchase rival Sval Energi Group, which is focused on the North Sea from private equity group HitecVision. The cash consideration was $450 million based on a $1.6 billion enterprise value. It said that the transaction would quadruple DNO’s North Sea production…
Naftogaz, Ukraine's gas producer, says that the Russian attack has damaged its production facilities.
Ukraine's Energy Minister said that Russian forces had targeted Ukraine's gas and energy infrastructure with their latest drones and missile attacks, which took place on Friday. Rescuers and engineers work to minimize the effects. "All necessary measures are taken to stabilise the power and gas supply," he said.
FT reports that UK Treasury is considering cutting funding for GB Energy
The Financial Times reported that Britain's Treasury Department is considering cutting funding plans for the state-backed energy company GB Energy during a review of spending scheduled for June. The British government created GB Energy last year with a budget of 8.3 billion pounds (10.73…
Guyana's tax agency will begin dispute resolution with Exxon regarding expenses
The Natural Resources Ministry of Guyana has instructed the country's Tax Agency to start a dispute resolution process with Exxon Mobil regarding the recovery from the U.S. Oil Major, about $214 million worth of expenses. Exxon's expenses as part of operations on the Stabroek block offshore are closely watched because a consortium headed by the U.S.
Tanzania announces that it will launch a round of oil exploration licensing in May
Tanzania announced on Thursday that it would launch its fifth round of oil and gas licensing in May, in which 26 explorations blocks will be auctioned to attract new investment to the hydrocarbon sector in east Africa. Charles Sangweni of the Petroleum Upstream Regulatory Authority in Tanzania (PURA)…
Sources: ERG declares force majeure for cobalt supplies from Congo
Two sources with knowledge of the situation said that Eurasian Resources Group has declared force majeure for deliveries of cobalt battery material from its Metalkol operations due to the temporary export ban by the Democratic Republic of Congo. ERG is the largest cobalt producer in Congo.
LNG producer Venture Global raises Plaquemines project cost forecast by $2 billion
Venture Global announced on Thursday that it expects its Plaquemines LNG Plant in Louisiana project costs to be about $2 billion more than its previous estimate due to inflation and various other factors. In premarket trading, shares of the company dropped 19.2% to $11.50. The LNG producer now expects that the plant will cost between $23.3 and $23.8 billion.
LNG producer Venture Global raises Plaquemines project cost forecast by $2 billion
Venture Global announced on Thursday that it expects its Plaquemines LNG Plant in Louisiana project costs to be about $2 billion more than its previous estimate due to inflation and various other factors. The LNG producer now expects that the plant will cost between $23.3 and $23.8 billion.
Indonesia introduces new rules allowing exports of minerals in cases of force majeure
The Indonesian Government has published a regulation that allows mineral companies to export ore unprocessed in situations of force majeure, said the Energy Ministry on Thursday. Indonesia has banned the export of raw minerals by 2023 in order to encourage metals to be processed at home. However, there are some exceptions.
After Trump's tariffs on crude oil, Mexico is seeking Asian and European buyers
Pemex, the Mexican state-owned oil company, is currently in discussions with buyers in Asia and Europe. This is because it's looking for alternative markets to sell its crude oil after U.S. president Donald Trump imposed import tariffs. This week, Trump implemented tariffs of 25% on goods imported from Mexico and Canada.
Africa Oil Corp. bullish on Nigerian growth and Namibia long-term game
A senior executive at the company said that Canada's Africa Oil Corporation would double its Nigerian production and its reserves once it completed its deal to acquire Prime Oil on Tuesday. Africa Oil will acquire the entire shareholding of Dutch company Prime Oil & Gas Cooperatief. Its main…
After Trump's tariffs on crude oil, Mexico is looking for Asian and European buyers
Pemex, the Mexican state-owned oil company, is currently in discussions with buyers in Asia and Europe. This is because it's looking for alternative markets to sell its crude oil after U.S. president Donald Trump imposed import tariffs. This week, Trump implemented tariffs of 25% on goods imported from Mexico and Canada.
Ecopetrol will borrow up to $2 billion to finance acquisitions
Ecopetrol, Colombia's largest state-owned oil company, plans to borrow up to $2 billion this year in order to fund investment. It will also consider raising funds through banks and the capital markets. The debt will be used for inorganic investments such as new projects or assets. Camilo Barco…
Canada cracks down on foreign takeover bids, citing the trade crisis
Canada pledged on Wednesday to restrict foreign companies' ability to conduct "predatory takeover" bids, citing concerns that recent trade turmoil could reduce the value of its domestic firms. The announcement was made by Innovation Minister Francois Philippe Champagne a day after U.S. president Donald Trump began a trade war with Canada and Mexico.
UK replaces windfall oil tax with consultation on clean energy future
Britain announced that it will end the windfall taxes on North Sea oil producers by 2030, and replace them with a new mechanism for responding to price increases. It is pushing ahead with its plan to turn the North Sea into an energy hub. On Wednesday, the government held two consultations.
BP and Mauritania claim leak found at gas project offshore West Africa
The British company BP and the Mauritania Environment Ministry announced on Wednesday that a gas leak had been detected in a well at the Greater Tortue Ahmeyim Gas Project operated by BP off the coasts of Senegal and Mauritania. BP stated that the impact of the leak on the environment was expected to be minimal and the incident will not disrupt production.
Ecopetrol's profits will drop 22% by 2024
Ecopetrol, Colombia's largest state-owned oil company, reported on Tuesday that its annual net profit in 2024 will drop by nearly 22% due to a stronger U.S. Dollar and lower oil prices internationally. The Colombian government owns 88.5% of the shares in the energy company. It posted a profit of $14.9 trillion last year ($3.6 billion)…
After financial disputes, talks to resume Kurdish crude oil exports have been postponed until Thursday
Three sources said that the talks to accelerate a return of oil exports out of Iraq's semiautonomous Kurdistan Region have been postponed until Thursday due to disagreements between oil companies, and the oil ministry. Three sources said that the meeting was originally scheduled for Tuesday…
Sakhalin LNG and oil production to decline in 2024
According to the local administration, production of LNG, oil and gas on Sakhalin, a Russian Pacific island, will decline in 2024. According to the administration's figures, production of LNG from Sakhalin Energy, a project led by Kremlin controlled Gazprom in Russia, decreased by around 2 percent to 10…
Shell restructures its executive team; integrated gas and upstream director departs
Shell announced on Tuesday that Zoe Yujnovich will be leaving the company at the end this month, after spending more than a decade working for the oil giant. Shell's leadership structure has been simplified by the appointment of Cederic Crémers as president of Integrated Gas, and Peter Costello to lead Upstream.
Reliance India says the oil ministry demanded $2.81 billion in gas dispute case
Reliance Industries, an Indian company, said Tuesday that the Petroleum and Natural Gas Ministry of India has demanded $2.81 billion in a dispute over gas drilling from the company and BP Exploration and Niko. A division bench of the Delhi High Court ruled on February 14 against Reliance…
The gender pay gap in Australia has improved slightly but women are still paid 18.6% lower than men
A government report revealed that the gender pay gap in Australia has shrunk slightly, but women still earn nearly a fifth of what men do. The biggest disparities are found in the mining, construction and finance industries. The Workplace Gender Equality Agency's survey showed that 72.2% had a gender gap in favour of men…
Libya announces the first oil exploration bid round in 17 years
Masoud Sulman, the acting chairman of the National Oil Corporation, announced on Monday that Libya will hold its first oil exploration bidding round in over 17 years. Libya is Africa’s second largest oil producer, and a member of the Organization of the Petroleum Exporting Countries. Foreign investors are wary about investing in Libya.
Source: Kazakhstan increased oil production to a record of 2,12 million bpd during February.
A source said that Kazakhstan increased crude oil and condensate output in February by 13% compared to January, reaching a record of 2,12 million barrels a day. This was again a higher production than its quota for the OPEC+ oil producing group. According to a source familiar with official…
Sinopec certifies reserves of 1.3 billion barrels at East China Shale Oil Plays
Sinopec Corp announced on Monday that the Chinese government had certified new geological resources of about 180 million tons or 1.3 billion barrels at two of their shale-oil plays. Sinopec announced that the new reserves had been tapped in the Xinxing Field in the Jiyang trough in the Bohai Bay Basin and in the Qintong Field in the Subei Basin.
Trump's tariffs threaten Canada's oil and natural gas drillers
Canada's oilfield services and drilling sector has already begun to show signs of slowing down due to the threatened tariffs by U.S. president Donald Trump. This has sparked fears that a rebound in this industry could be halted if these levies are implemented. The Canadian drilling industry…
Equinor's Arctic Johan Castberg Oilfield delayed by weather
A spokesperson for Equinor said that the start-up of oil production at Equinor’s Arctic Johan Castberg Field has again been delayed due to bad weather. Castberg will become the second oilfield to come on stream in the Norwegian Barents Sea sector after Vaar Energi’s Goliat, which came online in 2016.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the fifth consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for a fifth consecutive week for the first since May 2022. In the week ending February 28, the oil and gas rig counts, an early indicator for future production, increased by one, to 593, its highest level since June.
Equinor Norway LNG plant will be off-line March 10-14
According to a Friday regulatory filing, Equinor will shut down its Hammerfest LNG Terminal from March 10 through March 14 to perform "corrective maintenance". This will reduce the daily production capacity from 18.4 millions cubic metres to zero. The Hammerfest plant (also known as Melkoeya…
Data shows that Russia's LNG exports between January and February fell 7.3%.
LSEG released preliminary data on Friday showing that Russia's LNG exports in the first half of this year were down 7.3% compared to a year ago, at 5.1 million metric tonnes. This was due to sanctions and the Sakhalin-2 supply cut. Due to U.S. sanctions over the conflict in Ukraine, Russia has been unable to increase LNG exports.
EOG Resources exceeds profit expectations for the fourth quarter on higher production
EOG Resources surpassed fourth-quarter profit expectations on Thursday as higher production helped offset lower oil price. The company's shares were down 3.5% in after-hours trading as the net income fell by more than half, to $1.25 Billion from $1.998 Billion the previous quarter. The overall quarterly revenue dropped 12%, to $5.59 Billion.
Alberta projects C$5.2-billion budget deficit if Trump tariffs proceed
Alberta, Canada's oil producing province, forecasted a deficit of C$5.2billion ($3.5billion) for fiscal 2025/26 if U.S. Tariffs were implemented. This would result in a decrease of government revenues as well as slowed economic growth. The outlook shows a drastic reversal in Alberta's financial health following what was expected to be a C$5…
Staff of Brazil's Ibama recommend against Petrobras drilling Amazon region
Two sources with knowledge of the matter said that the technical staff at Brazil's environment agency Ibama recommended to the body that it deny Petrobras permission to drill in the environmentally sensitive Foz do Amazonas area. Rodrigo Agostinho, Ibama’s president, will make the final decision.
Expand Energy is on track to increase US natgas production to meet the growing demand
Expand Energy, previously known as Chesapeake Energy, and the largest natural gas producer in America, announced on Thursday that it is on track to increase output by over 5% from the levels expected in 2020, as long as the market conditions allow for such an action. The CEO of Expand, Nick Dell'Osso…
Data shows that Portovaya, Kryogaz-Vysotsk and other Russian LNG exporters have stopped LNG exports due to sanctions.
LSEG data on Thursday showed that two small-scale Russian LNG producers located along the Baltic Sea shores, Portovaya LNG, and Kryogaz Vysotsk have stopped LNG deliveries. This is due to the U.S. sanctions. Washington introduced new sanctions last month against Russia for the conflict in Ukraine. These included the two nuclear plants.
Pemex's fourth-quarter loss is $9.1 billion
According to a filing on Thursday with Mexico's principal stock exchange, the state-owned oil company Pemex posted a 190.5-billion-peso (about $9.1 billion) net loss for the fourth quarter, after posting profit during the same period last year. Revenues for the government-run oil firm during the period of October to December totaled 436.6 bn pesos.
Colombia's first auction of offshore wind energy attracts global interest
The National Hydrocarbons Agency of Colombia (ANH), a South American agency, announced on Thursday that companies from all over the world had proposed developing 69 offshore areas for the country's first offshore energy auction. The auction represents a major step towards President Gustavo Petro’s goal to diversify the energy sector…
ADNOC signs LNG supply contract with Japan's Osaka Gas
Abu Dhabi National Oil Company announced on Thursday that it had signed an agreement for 15 years to supply Japan’s Osaka Gas liquefied gas from the Ruwais Project. The agreement to supply LNG up to 0.8 mtpa is the fourth contract signed for the Ruwais LNG Project, where energy giants Shell, BP TotalEnergies, and Japan's Mitsui all have a 10% share.
US oil licenses and authorizations for Venezuela
Since the United States first imposed sanctions against Venezuela's energy industry in 2019, it has granted licenses to certain oil companies, allowing them to export Venezuela's oil into specific destinations. Washington imposed sanctions after international observers reported irregularities…
