Oil & Gas

UK Joins EU in Lowering Price Cap on Russian Oil

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

EU states earlier approved a fresh sanctions package on Russia that included new banking restrictions and curbs on fuels made from the nation’s petroleum. The package – the bloc’s 18th since Moscow’s full-scale invasion of Ukraine – will also cut off 20 more Russian banks from the international payments system SWIFT and impose restrictions on Russian petroleum refined in other countries. A large oil refinery in India, part-owned by Russia’s state-run oil company, Rosneft PJSC, was also blacklisted.

Saudi Arabia signs MoUs for renewables exports to Europe

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

Saudi energy developer and investor ACWA Power has signed multiple agreements and MoUs with European companies to establish a green hydrogen and renewable energy export corridor from Saudi Arabia to Europe, the company announced on Sunday.

Energy Minister rallies support for enhanced efficiency at Ghana Gas

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

Addressing the staff, the Minister encouraged continued professionalism and dedication, revealing that plans are in motion for the establishment of a new gas processing plant – a move he described as key to securing a sustainable and prosperous energy future for Ghana.

Trump’s AI Action Plan Set to Expand Energy Sources for Data Centers

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

In the energy sector, U.S. power utilities have announced billions of dollars in capital plans for the next few years and are getting a lot of requests from commercial users, most notably Big Tech, for new power capacity in many areas next to planned data centers.

Drone Attacks Disrupt Kurdish Output but Tariff Fears Cap Market Reaction

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

With global growth already showing signs of slowing, the possibility of another round of tit-for-tat trade measures has weighed more heavily on oil sentiment than localized supply shocks. Reuters cited analysts on Friday as saying that the muted price response to the Kurdistan outages suggests markets are increasingly discounting temporary disruptions unless they escalate or coincide with broader geopolitical risk.

Freeport LNG Granted 40-Month Extension for Delayed Train 4

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

The 2022 explosion was caused by overpressurized piping and resulted in a fire that shut down all liquefaction operations. Freeport remained offline for more than six months while conducting a root-cause investigation and implementing FERC- and PHMSA-mandated safety upgrades. Partial service resumed in early 2023 under revised regulatory conditions.

ADNOC to Transfer OMV Stake to Its Global Investment Arm

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

Last March, OMV and ADNOC signed an agreement to consolidate their polyolefin businesses, with ADNOC also agreeing to acquire NOVA Chemicals Corp. to be transferred to the new joint venture (JV). Under the agreement Borealis AG and Borouge PLC will merge to form Borouge Group International.

EU Slaps New Sanctions on Russia and Its Oil Trade

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

The EU’s move to restrict fuels such as diesel made from Russian crude could have some market impact, as Europe imports the fuel from India, which in turn buys large amounts of Russian crude. Diesel markets have been showing signs of tightness for several weeks, and prices strengthened in early European trading relative to crude.

Iraq Agrees on Oil Plan With Kurds

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

The Kurdistan Regional Government will supply Iraq’s state oil marketer SOMO with 230,000 barrels a day as part of a deal for Baghdad to release funds for salaries in the northern region, people familiar with the matter said. The transfer of the crude is a crucial element for an agreement between the federal and semi-autonomous administrations to restart exports through a pipeline to Turkey’s Mediterranean coast.

Oil Rises on Tight Supply Signals

Oil & Gas‚ Oil and Gas Industry | intent | July 18, 2025 | Comment off

“While inventories globally have built very significantly, stocks in the pricing centres – especially in the US – are still quite low,” Daan Struyven, head of oil research at Goldman Sachs, said on Bloomberg Television. Market focus has shifted to “downside risks to supply,” he said.

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