Latest Stories

NewMed building subsea pipeline linking LNG facilities in Egypt to Aphrodite offshore gas reservoir

2 June 2023

NewMed, the developers of Cyprus’s Aphrodite offshore natural gas field, plans to build a subsea pipeline linking the offshore gas reservoir to existing Egyptian liquefied natural gas processing facilities, local media report.

Russia stuck with $1bn of rupees per month on Indian trade

2 June 2023

Russia is accumulating up to $1bn per month in rupee assets stranded outside the country due to unresolved issues in the trade relationship with India, Bloomberg reports.

Russian petrochemical major Sibur switches to yuan in China trade

2 June 2023

Russia’s petrochemical major Sibur completely shifted to the Chinese yuan in its trade settlements with China, as well as to the Vietnamese dong in the settlements with Vietnam, and to the Turkish lira in the settlements with Turkey in 2022.

Croatia’s ENNA to launch IPO, invest €1bn in green energy

2 June 2023

Croatian investment group is already preparing a major investment cycle focused on developing renewable energy.

United Oil and Gas encounters oil at ASD-3 development well in the Abu Sennan licence onshore Egypt

2 June 2023

United Oil and Gas Co. (UOG), a full cycle oil and gas company focused on Egypt, has announced that the ASD-3 development well in the Abu Sennan licence, onshore Egypt, encountered 12.5 metres of net oil pay.

Germany’s Wintershall Dea discovers natural gas in Disouq concession onshore Nile Delta

2 June 2023

The discovery of natural gas at the step-out well (NSG-3) at the Abu Madi reservoir inside the Disouq concession comes on the heels of a previous find in the East Damanhour exploration block in January 2023.

T&T still holding out hope for progress in talks with Venezuela

1 June 2023

T&T and Venezuela are reportedly gearing up for more talks in mid-June, but a wide-ranging corruption probe may draw Venezuela’s attention away from the Dragon gas project.

Trendsetter Engineering to supply equipment for Guyana’s GTE project

1 June 2023

Texas-based Trendsetter Engineering has agreed to supply equipment to a subsidiary of the US super-major ExxonMobil for the gas-to-energy (GTE) project in Guyana.

Grupo Carso unit secures minority stake in Talos Energy’s Mexican subsidiary

1 June 2023

A subsidiary of Mexico's Grupo Carso is set to acquire a stake the Zama oilfield through the purchase of a 49.9% share in US-based Talos Energy's Mexico unit.

Petrobras seeks to increase competitiveness by offering wider range of gas contracts

1 June 2023

Brazil's Petrobras has said it will expand the range of benchmarks used in natural gas contracts and extend the lengths of some contracts as part of an effort to remain competitive.

Re-elected Alberta premier warns Trudeau on climate change

1 June 2023

Alberta premier Danielle Smith’s United Conservative Party (UCP) won re-election in the provincial oil-patch’s elections on May 29. And Smith, a conservative, immediately lambasted the climate change policies of Ottawa.

Dramatic reduction of methane emissions among US oil, gas producers – new analysis

1 June 2023

Reported methane and greenhouse gas intensities in the US oil and gas sector have declined 28% and 30% respectively between 2019 and 2021. This is despite an increase in natural gas and total hydrocarbon production.

Mountain Valley Pipeline in debt ceiling bill passed by House

1 June 2023

The US House of Representatives on Wednesday, May 31 evening passed a debt ceiling bill by a 314-117 margin.

Equinor shelves Bay du Nord in surprise decision

1 June 2023

Equinor has shelved the $12bn Bay du Nord oil drilling project off Newfoundland and Labrador for up to three years.

Montfort acquires Uniper’s Fujairah marine fuels business

1 June 2023

German firm Uniper has sold its UAE-based crude oil processing and marine fuel trading business to a consortium of Montfort and the Private Office of Sheikh Ahmed Dalmook Al Maktoum.

Nigeria can no longer afford fuel subsidy, NNPCL says

1 June 2023

Nigeria’s NNPC Ltd has said that the country’s government can no longer afford to pay for costly fuel subsidies, said the company’s managing director Mele Kyari, a day after Nigeria’s President Bola Tinubu said the subsidy would be scrapped.

Kuwait’s Al-Zour refinery delayed until end of summer

1 June 2023

Kuwait Petroleum Corp. CEO Sheikh Nawaf al-Sabah said this week that commissioning of the third section of the Al-Zour refinery had been delayed owing to a technical issue. The fault meant that the refinery had to halt all operations for two weeks.