Author: intent

Naftogaz Keeps Gas Prices Unchanged for Another Year

Oil & Gas‚ Oil and Gas Industry | intent | April 28, 2025 | Comment off

“Risks peaked in February, when large-scale Russian missile attacks on gas production facilities led to the sudden loss of nearly half of the state’s output. These events created a perfect storm that could have caused a nationwide gas blackout at any moment”, according to a company report Monday that said 34 of Naftogaz’s gas production sites had been attacked in 2024-25. Rigzone tried to verify the scale of the reported attacks via comment requests to the Russian government, sent via official online portals, but has not received a reply.

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Liverpool Bay CCS Project Moves to Construction Phase

Oil & Gas‚ Oil and Gas Industry | intent | April 25, 2025 | Comment off

The project will provide the transport and storage infrastructure for the HyNet North West Industrial Decarbonization Cluster project, which spans North West England and North Wales. Planned to reach 4.5 million metric tons per annum (MMtpa) of carbon dioxide (CO2) storage capacity by 2030, HyNet will store captured emissions in depleted hydrocarbon fields in the Irish Sea. The HyNet consortium, led by Eni, plans to expand the capacity to 10 MMtpa after 2030. Eni has updated the expected startup date to 2028.

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ExxonMobil Secures Sixth CO2 Customer in Calpine

Oil & Gas‚ Oil and Gas Industry | intent | April 25, 2025 | Comment off

This agreement makes Calpine the sixth CCS customer of ExxonMobil, bringing the latter’s total amount of CO2 under contract to about 16 MTA, ExxonMobil said. The CO2 from Calpine’s facility will tie into ExxonMobil’s CO2 pipeline system, the largest in the world, which is strategically located along the U.S. Gulf Coast and supports enhanced oil recovery as well as permanent CO2 sequestration, according to ExxonMobil.

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Russia Oil Drilling at Fastest Pace in 5 Years as Curbs Ease

Oil & Gas‚ Oil and Gas Industry | intent | April 25, 2025 | Comment off

Russia’s production drilling averaged more than 2,370 km (7.8 million feet) in January and February, according to the latest available data seen by Bloomberg. That’s higher than the seasonal average for the first three years of the Kremlin’s invasion in Ukraine, which triggered broad restrictions on the availability of western oilfield services in Russia, historical data show.

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Oil Gains as Supply Tightness Counters Trade Concerns

Oil & Gas‚ Oil and Gas Industry | intent | April 25, 2025 | Comment off

West Texas Intermediate futures climbed 0.8% to settle near $63 a barrel, while Brent advanced to close around $66.50, after President Donald Trump said that US officials have been holding meetings with Chinese officials on trade as recently as this morning. That countered some pessimism over the major crude importer’s earlier comments that the US should revoke all unilateral tariffs and its dismissal of speculation that progress has been made in bilateral communications.

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USA Crude Oil Inventories Rise Week on Week

Oil & Gas‚ Oil and Gas Industry | intent | April 25, 2025 | Comment off

Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.605 billion barrels on April 18, the report showed. Total petroleum stocks were down 0.3 million barrels week on week and up 5.9 million barrels year on year, the report revealed.

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Russian Oil Producers Accelerate New Drilling

Oil & Gas‚ Oil and Gas Industry | intent | April 25, 2025 | Comment off

The current level of drilling activity is also some 30% higher than it was before the war in the Ukraine started, Bloomberg noted, in evidence of the resilience of Russia’s energy industry to Western sanctions. Some of these targeted specifically the oil and gas industry on the assumption that local producers would be crippled if access to Western technology and equipment was cut off.

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Guyana’s March Oil Production Sags, Time To Worry?

Oil & Gas‚ Oil and Gas Industry | intent | April 25, 2025 | Comment off

And Europe? It can’t get enough. Sweet, light, and refinery-friendly, Guyana’s Liza, Unity Gold, and Payara Gold grades are the belle of the Atlantic. Two-thirds of the country’s exports went to Europe in 2024. That’s no accident—European refiners love this stuff. It’s easier to process, closer than Middle Eastern barrels, and not tangled up in Russian geopolitics.

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