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 Nigerian government and the United States of America on Monday expressed their willingness to strengthen partnership in Nigeria’s energy sector.
The Public Interest and Accountability (PIAC) has dismissed the perception that foreign oil-producing companies are shunning investments in Ghana because of the energy transition policies by their respective governments.
Their hand weakened by slumping crude output, Africa’s OPEC members were strong-armed into accepting lower quotas when the bloc and its allies last convened in Vienna, but say they are prepared to fight for their market share within the Saudi-dominated group.
SBM Offshore has signed the project financing of FPSO Alexandre de Gusmão for a total of US$1.615 billion.
Kalyon Insaat has been awarded a $546 million contract to construct a 188.46-mile (303.3 kms) gas pipeline in Romania.
The Australian energy giant Woodside is spending $7bn to drill for 479m barrels-worth of oil and gas off the coast of Mexico, but it says this is all in line with keeping global heating to 1.5C.