Tag: Oil and Gas News
Germany Targets 4th World Largest LNG Import Capacity Holder
Europe’s biggest economy, Germany, is strongly believed to be working on a plan to build as much as 70.7 million tons per year of...
Italian Energy Giant, Eni Posts Highest Annual Earnings In Over A...
Italy’s energy giant, Eni has reported what is its highest annual net profit in over a decade, joining the league of Majors who are...
‘If Market Changes, OPEC+ Would Adjust Output Policy’
Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman has said that the OPEC+ group of 23 oil-producing countries remains flexible and can alter its...
JPMorgan: Oil Prices Are Unlikely To Hit $100 This Year
Brent Crude prices are not expected to reach $100 per barrel in 2023 unless a major geopolitical event rattles markets again, according to JPMorgan.
The...
Global Energy Transition Shaky As Fossil Fuel Consumption Hit Record $1tn...
It may seem difficult phase out fossil fuel consumption, with subsidies worldwide soaring as high as the $1 trillion mark for 2002, for the...
SAIPEC 2023: NCDMB Seals National Content Deal With Senegal
The Nigerian Content Development Management Board has signed a memorandum of understanding (MoU) with the Technical Secretary of the National Content Monitoring Committee...
Higher Demand For Gas In Europe Would Trigger Competition With Asia...
…And Dominate LNG Trade In The Long Term – Shell
Dutch oil giant, Shell has said that the significantly higher demand for liquefied natural gas...
Natural Gas Futures Contracts Suggest Europe’s Energy Crisis Isn’t Over
Europe’s natural gas futures point to structurally higher prices for the rest of the year, as Europe will soon have to start filling inventories...
OPEC Ups World Oil Demand Forecast For 2023
Last Tuesday, OPEC published a demand growth forecast calling for 400,000 bpd in growth from Organization for Economic Cooperation and Development (OECD) countries and...
President Biden Proposes Tax Punishment For Big Oil’s ‘Outrageous’ Profits
American President Joe Biden is proposing a ‘punishment’ for Big OiI in the nature of quadrupling share repurchases taxes for what he describes as...
China Signs Its First-Ever LNG Deal With Oman
China’s Unipec has signed a contract with Oman LNG for the delivery of 1 million tons of the super-chilled fuel over a period of...
Earthquake In Turkey Jolts The Market As Crude Oil Bounces Back
Following the devastating earthquake in Turkey, global oil prices are reported on the rise, with WTI and Brent benchmarks both up around 3% as...
Equinor Doubles Earnings After Tax in 2022
...high performance owed to high gas prices, strong sales and trading results – CEO
Equinor on Wednesday joined the group of oil and gas majors...
TotalEnergies Joins Other Majors, Doubles Profits In Its Best Year Ever
TotalEnergies has posted a net profit of $36.2billion for the 2022 business year, with an announcement to increase dividends and share repurchases after the...
BP Stock Jumps As Firm Pivot To Renewables And Vows More...
The stock of supermajor, BP, edged higher on Tuesday, after the company announced record breaking profits and a disposition towards investment in oil and...
BP Joins League Of Supermajors Posting Record-Breaking Profits
BP has turned out as the latest oil and gas supermajor to report record earnings for 2022, more than doubling its profit in last...
Chevron Secures Shale Gas Exploration Deal In Algeria
Chevron is set to seal an exploration deal with Algeria and is assessing the North African country’s estimated huge shale gas resources, The Wall...
EU, G7 and Australia Agree Price Caps On Russian Petroleum Export
The EU member states and the G7 industrialised countries and Australia said on Friday that they have reached an agreement on a two level...
US Monthly Crude Oil Production Falls
New data from the Energy Information Administration shows that crude oil production in the United States fell in November
The data shows that U.S. crude...
Iran, Russia Integrate Mutual Banking Systems To Evade SWIFT Sanctions
Iran and Russia are believed to have integrated their interbank communication and transfer systems to help enhance trade and financial operations, and possibly evade...
