The world’s biggest sovereign wealth fund, Norway’s $2.3-trillion Government Pension Fund Global, booked a loss of $30 billion for the third quarter as higher interest rates and market turbulence hit both its fixed-term and equity investments.
The UK’s energy market regulator, Ofgem, is looking to keep Britain’s gas import capacity from mainland European connectors to preserve flexibility to import gas in case of strong demand.
QatarEnergy has signed two long-term agreements with Cheniere to purchase up to 4 million tonnes of liquefied natural gas (LNG) annually, with deliveries expected to begin in 2031 and continue through 2054.
Crude oil prices were on course to book a sharp weekly gain, with Brent crude on track for gains of about $6 per barrel and WTI registering a much more modest tick higher, from around $99 per barrel on Monday to over $100 earlier today.
DOF Group has been awarded a subsea contract in Africa that it classifies as significant, a category the company defines as worth between $15 million and $25 million. The client, described only as a leading operator, was not named.
Iranian oil in floating storage has been drained amid the U.S. Navy blockade, the Wall Street Journal has reported, citing Kpler data that suggests further tightening in global oil supply.
The Trump administration is tapping an emergency reserve of diesel set aside to heat homes in the Northeast as fuel prices are surging weeks before the midterm elections.
Buru Energy Ltd has applied for a production license for the Rafael domestic natural gas project in Western Australia’s onshore Canning Basin.
President Emmanuel Macron said France will receive liquefied natural gas from Qatar during the winter months and will work to lower fuel transport costs from the Persian Gulf as it seeks to curb soaring energy prices.
The UK has approved development of the Jackdaw gas-condensate field off northeast Scotland, clearing owner Adura to start production within weeks. The North Sea Transition Authority (NSTA) granted development and production consent on Oct. 21. That followed an environmental review led by the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) and Energy Secretary Miatta Fahnbulleh’s agreement to the consent. According to Wood Mackenzie, Jackdaw lies 225 km (140 mi) east of Aberdeen and holds about 68 MMboe. The government expects it to raise domestic gas production by about 6% at its peak.