Latest Stories

Santos signs up to emission-cutting initiatives

1 March 2024

Australia’s Santos announced last week it had joined two climate change initiatives aimed at curbing methane emissions and eliminating routine flaring.

Malaysia dishes out two more production-sharing contracts

1 March 2024

Malaysia has signed production-sharing contracts for two discovered resource opportunities off its coast.

Asian implications of Biden's LNG pause

1 March 2024

While the majority of US LNG currently goes to gas-starved Europe – 67% last year versus only 26% to Asia – the pause has no bearing on existing supply but on export projects due to enter service in the late 2020s.

Exxon, CNOOC may derail Chevron’s $53bn bid for Hess

1 March 2024

In a surprise move, ExxonMobil and China National Offshore Oil Corp. are asserting that they have the right to pre-empt Chevron’s purchase of Hess’ stake in the prolific deep-water offshore Stabroek field off Guyana.

Trans Mountain Expansion cost estimate balloons again

1 March 2024

The expansion of the Trans Mountain pipeline will cost around $2.3bn more than the owner had previously reported in May.

US gas prices fall to more than a quarter-century low

1 March 2024

The US benchmark Henry Hub daily natural gas price averaged $1.50 per mmBtu on February 20.

Wall Street regulator to vote on climate disclosure rules on March 6

1 March 2024

The US Securities and Exchange Commission will vote on March 6 on adopting a proposed new climate rule on whether companies must disclose climate risks for the first time.

Nigeria pays $120mn owed to gas suppliers

1 March 2024

Nigeria’s Federal Government has made a payment exceeding $120mn to gas suppliers, in a significant step towards stimulating gas production in Nigeria.

ING: Stubborn challenges need to be addressed for sustainable renewable power growth

1 March 2024

Renewable power is a key pillar to decarbonising the world economy. We expect decent renewable power capacity growth in Europe and the US in 2024 and beyond. However, it's not happening fast enough/

Potential Iranian ‘gas hub’, energy swap with Russia on the agenda

1 March 2024

Iran said talks were underway with key regional producers to set up a “gas hub” on the country’s Persian Gulf coast amid ongoing negotiations between Tehran and Moscow to work out a deal on oil and gas swap.

US sanctions may not apply to gas pipeline project with Iran

1 March 2024

Pakistan said the US sanctions might not apply a pipeline set to be laid to import Iranian natural gas, days after Islamabad gave the go-ahead to launch the long-delayed project.

Ukraine to boost electricity exports to EU as ENTSO-E raises export capacity

1 March 2024

Ukraine is set to bolster its electricity exports to the EU following a decision by Europe's network of electricity operators to increase the country's maximum permissible capacity for electricity export by 150 MW, bringing the total to 550 MW.

Malaysia's Sarawak pioneers green hydrogen hub with strategic partnership

1 March 2024

Malaysia is set to establish a production hub, named the Sarawak H2 Hub, located in Sarawak state.

Estonia’s Eesti Energia oil shale power plant write-downs cause net loss in 2023

29 February 2024

In 2023, Estonia’s state-controlled Eesti Energia posted a net profit from current operations of €253mn.

Venezuela's PDVSA restarts MTBE production unit after five-year hiatus

29 February 2024

Venezuela's state-owned oil company, PDVSA, has announced the restart of a unit dedicated to producing MTBE at its Jose complex in Anzoategui state after a hiatus of five years.

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