The Centre for Environmental Management and Sustainable Energy (CEMSE) has called for a pragmatic, partnership-driven approach to reviving the Tema Oil Refinery (TOR), emphasising that a tolling agreement, rather than an outright sale, offers the most sustainable path to restoring the refinery’s operational and financial viability.
NewMed Energy said Sunday, “Furthermore, to the best of the Partnership’s [NewMed’s] knowledge, concurrently therewith, the said other two exporters also signed transmission agreements with INGL in respect of the share allocated to them in the project, thereby satisfying the conditions precedent that had been stipulated for the Transmission Agreement’s entry into force and effect”.
Saudi Arabia’s crude oil exports surged by 413,000 barrels per day (bpd) in August, to the highest level in six months, as the world’s top crude exporter and the OPEC+ group accelerated the reversal of the production cuts.
Mergers and acquisitions in the U.S. upstream oil and gas sector fell for a third straight quarter, marking an end to blockbuster takeovers seen in recent years amid persistently low energy prices. According to Enverus Intelligence Research, deals worth $9.7 billion were closed in the third quarter, marking a 28% drop from the second quarter and putting the current year far below the record $192 billion recorded in 2023
The European Union adopted a new package of sanctions targeting Russia’s energy infrastructure, joining a new US push to chip away at Moscow’s ability to wage its war against Ukraine.
FlowHeat enables heating cables to be installed after pipeline laying or within reeled pipelines, offering up to 35% cost reductions and 30% lower emissions compared to conventional systems.
Under the agreement, Williams will contribute approximately USD 1.9 billion in capital expenditure towards the LNG facility and pipeline, reducing Woodside’s total expected capital expenditure for the Louisiana LNG project to an estimated USD 9.9 billion. With the deal, Williams also assumes offtake obligations for 10% of the produced LNG volumes, equivalent to 1.6 million tonnes per year (tpy).
Aker BP has reported strong operational and financial performance in its latest quarterly results, underscoring stable production, disciplined cost management, and a breakthrough exploration success on the Norwegian Continental Shelf (NCS).
The U.S. Department of Energy (DOE) has issued the final non-Free Trade Agreement (non-FTA) export authorization for Venture Global’s CP2 LNG facility in Cameron Parish, Louisiana — a key regulatory milestone that clears the way for the company’s next phase of growth in the global liquefied natural gas (LNG) market.
Brazil sold five of the seven blocks offered in an oil auction on Wednesday to majors including Petrobras and Equinor ASA in a sign of renewed interest to explore in deep waters off the country’s southern coast despite low oil prices.