Crude oil prices ticked up today, after the U.S. Energy Information Administration reported an inventory draw of 6.3 million barrels for the week to September 1.
Moldova’s energy minister says the government will propose that Moldovagaz, a subsidiary of Gazprom, pay the Russian gas giant $8.6 million to settle a debt that Gazprom says is more than $700 million.
Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices.
A Bloomberg report that workers on Chevron’s Gorgon and Wheatstone LNG projects have delayed strike action until Friday is being viewed as a sign talks are going well, as strikes were meant to begin Thursday. The positive conclusion to last week’s talks between Woodside and unions is another indication the worst-case scenario is unlikely.
A spike in Brent crude prices last week to a 10-month high of over $90 a barrel has brought cheers to upstream oil companies with hopes of wider profit margins.
Eni SPA has signed a deal divesting one of its units in Nigeria to Oando PLC, saying the move is part of efforts to refocus on more profitable assets
Natural gas has been dubbed the ‘fuel of the future’ in Africa, largely due to its availability and sustainability. With over 620 trillion cubic feet of proven gas resources across the continent, the development of the industry offers newfound opportunities for Africa to tap into an alternative energy supply.
Australia’s Santos Ltd. has entered into a binding agreement to sell a 2.6 percent participating interest in PNG LNG to Papua New Guinea’s Kumul Petroleum Holdings Ltd. for $576 million in cash and the assumption of approximately $160 million of project finance debt, the two companies said.
OSLO, Norway — Investments in Norway’s oil and gas industry could surge to a record NOK225 billion ($21 billion) this year, according to Rystad Energy.
Recently, Norway and the UK managed to overcome certain challenges and increase investments heavily into the energy sector, especially in the North Sea region.