intent, Author at GUPC | Page 122 of 662

Norway Gas Production Up Month on Month

Oil & Gas‚ Oil and Gas Industry | intent | March 24, 2025 | Comment off

Norway produced 355.1 million standard cubic meters a day (MMscmd) of natural gas in February, beating the official forecast by 3.8 percent and rising from January’s 346.1 Mmscmd, the country’s upstream regulator has reported.

However, last month’s gas output is lower than the 360.4 MMscmd logged for February 2024, according to figures published online by the Norwegian Offshore Directorate.

The Nordic country, the European Union’s biggest source of pipeline gas, sold 9.9 billion standard cubic meters (Bscm) February 2025, down 800 MMscm from January 2025.

ADNOC Gas Gets Shareholder Approval for $3.41B Dividend for 2024

Oil & Gas‚ Oil and Gas Industry | intent | March 24, 2025 | Comment off

Shareholders of ADNOC Gas PLC approved the integrated gas processing company’s proposed dividend of $3.41 billion for 2024, it said Monday.

This is the highest dividend on the Abu Dhabi Securities Exchange (ADX) last year, according to ADNOC Gas, majority-owned by Abdu Dhabi National Oil Co. (ADNOC).

About half was paid September 2024. The remaining $1.7 billion will be distributed in the second quarter of 2025, ADNOC Gas said in an online statement.

Iraq Seeks Floating Gas Terminals to Bridge Power Gap

Oil & Gas‚ Oil and Gas Industry | intent | March 24, 2025 | Comment off

Iraq is in talks with several companies to secure two floating storage regasification units by early June, as OPEC’s second-biggest producer tries to address power shortages caused by a US move against Iran.

The US decided earlier in March not to renew a waiver that allowed Iraq to buy electricity from Iran, with Donald Trump’s administration pressuring Tehran into negotiating a new nuclear deal. The decision has left the Iraqi government in need of more gas to meet its growing demand for electricity.

Namibia unveils offshore drilling plans, new licensing opportunities

Oil & Gas‚ Oil and Gas Industry | intent | March 24, 2025 | Comment off

Namibia’s offshore oil and gas industry is set for significant growth in 2025, driven by new licensing opportunities and an uptick in drilling activities, Petroleum Commissioner Maggy Shino announced during a webinar hosted by the African Energy Chamber, Wood Mackenzie and Namibia’s Ministry of Mines and Energy. The move is set to attract fresh investment as the country cements its status as one of the world’s most promising oil frontiers.

Tullow announces 16 days maintenance works on Jubilee Field

Oil & Gas‚ Oil and Gas Industry | intent | March 24, 2025 | Comment off

The maintenance activity, set to begin Tuesday, March 25, for 16 days, will upgrade operations, boost production capacity, and reduce risks in the field.

During this period, Tullow Ghana will focus on essential repairs and improvements to the Kwame Nkrumah FPSO vessel, including retooling of key equipment, conducting leak tests and expanding works on the facility to accommodate increased gas export.

Crude Climbs Amid US Crackdown on Iran Exports

Oil & Gas‚ Oil and Gas Industry | intent | March 21, 2025 | Comment off

Oil advanced after the US ramped up measures to hobble Iran’s crude exports, increasing pressure on Tehran amid a push for a new nuclear accord.

More Pipelines, More Gas, Lower Prices?

Oil & Gas‚ Oil and Gas Industry | intent | March 21, 2025 | Comment off

The United States last year added the most pipeline takeaway capacity from natural gas-producing regions since 2021. This year, more gas pipelines could be announced or revived, with the support of the Trump Administration, in what could be a shot in the arm for U.S. natural gas producers and a step toward reducing energy costs for consumers, especially in the Northeast.

Global Oil Demand Robust Despite Tariff Chaos

Oil & Gas‚ Oil and Gas Industry | intent | March 21, 2025 | Comment off

Oil prices rallied on Wednesday after U.S. government data showed a draw in fuel inventories. Brent crude for May delivery gained 1.6% to trade at $71.98 per barrel at 12.30 pm ET while the comparable WTI contract climbed 1.8% to change hands at for U.S. government data showed that crude stocks rose by 1.7 million barrels last week to 437 million barrels, significantly higher than the Wall Street consensus of a 512,000-barrel build. However, distillate inventories, including diesel and heating oil, fell by 2.8 million barrels to 114.8 million barrels, exceeding expectations for a 300,000-barrel drop.

US Exim Bank confirms $4.7-billion Mozambique LNG loan

Oil & Gas‚ Oil and Gas Industry | intent | March 21, 2025 | Comment off

The newly constituted Board of Directors of the US Export-Import Bank has approved the direct loan of up to USD 4.7 billion to support engineering, procurement and construction for the Mozambique LNG project in Mozambique’s Cabo Delgado province, the bank announced on Wednesday.
the operator of the project, had indicated earlier this year it expected the loan would be green-lighted, and it is also expecting the resolution of a commitment of up to USD 1 billion from the UK.