Norway’s Ministry of Petroleum and Energy has granted approval for 19 oil and gas projects on the Norwegian Continental Shelf, totaling investments of more than $18.5 billion (NOK 200 billion).
Italy’s Environment and Energy Minister Gilberto Pichetto Fratin said on Wednesday that deliveries by ship of liquefied natural gas (LNG) were a reliable source of energy that could cover 50% of the country’s gas needs.
Brent crude prices are set for their first monthly improvement this year, but on a quarterly basis, the international benchmark will record yet another decline.
This time last year, natural gas prices in Europe were shooting for the sky, and gas prices in the U.S. were beginning the climb that would bring them to $9 per million British thermal units later in the summer.
The U.K.’s planned North Sea Rosebank oilfield development, to be led by Norwegian firm Equinor, could be key to the country’s energy security. However, environmentalists are understandably concerned about the impact a new oil project may have on the environment during a time of green transition, with many suggesting that it goes against the country’s climate pledges.
Total global recoverable oil reserves now stand at 1,624 billion barrels, according to Rystad Energy research, an increase of 52 billion barrels from our last year’s estimate.
The European Union is on track to fill up its natural gas storage facilities ahead of schedule, Rystad Energy has forecast.
The Democratic Republic of the Congo’s Hydrocarbons Minister Didier Budimbu and his Angolan counterpart Diamantino Pedro Azevedo have agreed to sign the Memorandum of Understanding (MoU) for the development of Block 14 on July 13 in Kinshasa.
Nigerian authorities and Shell’s local subsidiary were on Monday investigating the cause of an oil spill on the Trans Niger pipeline that lasted several days.
NEW YORK CITY – In its latest Offshore Oracle report, Evercore ISI commented that “our bullish view about the offshore markets was already strong,” and key data points offered by SLB in a recent investor presentation in New York City “further validated our viewpoint.”