Oil prices jumped Wednesday after U.S. President Donald Trump declared that the ceasefire with Iran was effectively over and said the United States would “probably” launch additional military strikes, raising the prospect of renewed conflict in one of the world’s most important oil-producing regions.
The deal, signed in Abuja, will see NNPC and Seplat supplying 5.7 million cubic metres of gas per day to the UTM FLNG project, which is set to produce 1.8 million tonnes of LNG per year.
Norwegian energy giant Equinor has awarded contracts worth around NOK 6bn ($612m) for four subsea projects.
Germany is planning to allocate €1.5 billion to establish a strategic natural gas reserve with a capacity of 2.3 billion cubic meters, AzerNEWS reports, citing Reuters.
Petronas Suriname E&P has made two new discoveries and appraised the Roystonea oil find in Block 52 offshore Suriname
The premiers of Alberta and Ontario unveiled a proposed 3,300 km pipeline to transport oil from Western Canada to refineries in southern Ontario.
Shell PLC (LSE:SHEL, NYSE:SHEL) shares jumped over 2% after it said stronger trading and improved refining margins should support second-quarter performance, although production has been hit by disruption to output from Qatar following the war in the Middle East.
Superior Energy Services has entered into a definitive agreement to acquire Sonic Holdings, LLC, expanding its production equipment and wellsite services portfolio with the addition of a provider of electric feed-through technologies, drilling wellheads and aftermarket services.
Argent LNG has awarded GIS Engineering a contract to provide marine, environmental and site engineering services supporting federal permitting for the company’s proposed 25-MMtpa LNG export terminal at Port Fourchon, Louisiana.
Indonesia Energy Corporation (IEC) has begun operations on the K-29 well, marking the start of its planned two-well drilling campaign at the Kruh Block in Indonesia.