Latest Stories

Eni farms down stake in UAE’s Ghasha concession

16 April 2024

Eni has farmed down its 25% stake in Abu Dhabi’s giant offshore Ghasha concession, which contains the Dalma, Ghasha, Hail, Mubarraz, Nasr and SARB fields.

Copernicus: March 2024,10th month in a row that was the hottest ever

16 April 2024

March 2024 was warmer globally than any previous March in the data record, with an average surface air temperature of 14.14°C - which was 0.73°C above the 1991-2020 average for March and 0.10°C above the previous high set in March 2016.

Top European human rights court gives Swiss women major climate win

16 April 2024

A significant ruling from a top European court has Switzerland in violation of human rights due to the country’s failure to address the consequences of the climate crisis.

ADNOC reportedly held talks on BP takeover

16 April 2024

UAE national oil company ADNOC recently considered the acquisition of BP, but talks did not make progress beyond preliminary stages.

Equinor to swap onshore assets in the US, pay $500mn to EQT

16 April 2024

Equinor will swap its operated assets in the Marcellus and Utica shale plays and pay $500mn cash to EQT for 40% of EQT’s non-operated assets in the Northern Marcellus shale

Imminent start-up of Canada’s TMX pipeline may impact Iraq

16 April 2024

Canada’s Trans Mountain Expansion (TMX), to start up on May 1, will triple pipeline capacity for exporting heavy oil-sands crude from Alberta to Pacific coast. This may affect the prospects of a similar grade of crude from OPEC member Iraq.

Superfund for climate damage? Advocates say yes

16 April 2024

Polluters may have to pay compensation to taxpayers for climate damage under new laws being considered in four US states.

Mexico Pacific announces Sarah Bairstow as new CEO

16 April 2024

LNG developer Mexico Pacific has announced the appointment of Sarah Bairstow as the company’s new CEO.

Biden increases financial assurance by $6.9bn for offshore oil & gas decommissioning

16 April 2024

The Biden administration has ruled that offshore oil and gas industry will have to produce $6.9bn in new financial assurances to protect American taxpayers from offshore decommissioning costs on the Outer Continental Shelf

Slovenia's first geothermal power plant produces initial kW of electricity

16 April 2024

Pilot geothermal power station built on an abandoned gas well produces first electricity, but investor says modifications needed for viable long-term energy generation.

Nova Group ventures into green energy amid Russian attacks

16 April 2024

The Nova group of companies has announced the launch of Nova Energy, a new venture aimed at generating electricity, including from renewable energy sources, after Russian attacks on Ukraine's energy infrastructure.

Zaporizhzhia nuclear power plant reaches cold shutdown – IAEA

16 April 2024

The Zaporizhzhia Nuclear Power Plant, Europe's largest nuclear facility, has achieved a state of cold shutdown for all six reactors, a significant milestone in ensuring the safety and stability of the plant.

France's spending on Russian LNG surges to over €600mn this year

16 April 2024

France's spending on Russian liquefied natural gas (LNG) surged to over €600mn this year, EU data reveals, Politico reports.

Chevron-Hess merger may be postponed due to arbitration over Guyana Stabroek block stake

16 April 2024

Hess Corporation reported in a filing to the US Securities and Exchange Commission (SEC) that its acquisition by Chevron Corporation may be delayed until 2025.

S&P projects Guyana's oil exports to triple in revenue by 2030

16 April 2024

S&P Global Commodity Insights stated in a report that it expects Guyana’s annual oil exports to triple in value from $11bn in 2023 to $33bn in 2030.

What next for oil markets after Iranian strike on Israel?

16 April 2024

For the time being, traders have apparently shrugged off fears of a direct war between Israel and Iran, but escalation is still a significant risk.

Iran to spend $4.1bn to import vehicle fuel this year

16 April 2024

Iran plans to spend billions of dollars to import vehicle fuel in the current Persian calendar year started on March 20, the semi-official Tasnim News Agency reported on April 16, citing the annual budget bill.

Cedar LNG to receive liquefaction equipment from Chart Industries

16 April 2024

Pembina Pipeline and Haisla Nation have taken another key step forward with the development of their proposed floating LNG facility in Kitimat, British Columbia with the announcement that Chart Industries will supply liquefaction equipment.

Kuwait names ex oil minister as new PM

16 April 2024

In a decisive move aimed at stabilising the political landscape, Kuwait's Emir has appointed Sheikh Ahmad Abdullah al-Ahmad al-Sabah as the new prime minister.

Saipem authorised for Whiptail oilfield project in Guyana's Stabroek Block

16 April 2024

Italian oilfield services company Saipem has received authorisation from ExxonMobil Guyana to proceed with its scope of work for the Whiptail oilfield development project in the Stabroek Block.