Latest Stories

Guyana urged to bring multiple investors on board for offshore oil projects

20 August 2019

Britain’s High Commissioner to Guyana has encouraged Georgetown to work with as many investors as possible with respect to the development of its offshore hydrocarbon resources.

Russia's Rosneft and finance ministry wrestle over Arctic funding

20 August 2019

Russia's finance ministry is insisting that the moratorium on oil and gas extraction support is extended for the Arctic region, while Rosneft pushes through support for its Arctic project Vostok Oil.

ONGC aims to double output by 2040

20 August 2019

India’s state-run Oil and Natural Gas Corp. (ONGC) has unveiled plans to double its oil and gas production by 2040 while also tripling its revenue.

Conrad hires rig for two wells offshore Indonesia

20 August 2019

Indonesia-focused Conrad Petroleum has contracted a jack-up drilling rig for a two-well programme at its Duyung production-sharing contract (PSC) after securing government approvals for the development earlier this year.

Shenzhen Gas to start up LNG terminal

20 August 2019

Shenzhen Gas has said it will launch operations at its wholly owned liquefied natural gas (LNG) import terminal in southern China’s Shenzhen City this week.

South Korea-Japan dispute could hit kerosene trade

20 August 2019

South Korea and Japan’s ongoing trade dispute could lead Seoul to ban kerosene exports to its neighbour ahead of the winter heating season, driving up prices for Japanese buyers in the process.

Papua LNG agreement in doubt once more

20 August 2019

After several months of mixed messaging from the Papua New Guinea (PNG) government, the future of the Papua LNG project is once more unclear.

Oilex files counterclaim in dispute with Timor Leste

20 August 2019

Australian developer Oilex has filed a $23.3mn counterclaim against the Timor Leste government relating to an ongoing dispute over an offshore production-sharing contract (PSC).

Motiva to buy Port Arthur chemical plant

20 August 2019

Refiner Motiva Enterprises is buying a chemical plant in Port Arthur, Texas, from an affiliate of Flint Hills Resources.

Start-up milestones for Cameron LNG, Freeport LNG

20 August 2019

The first liquefaction train at Sempra Energy’s Cameron LNG terminal on the US Gulf Coast has started commercial service, while Freeport LNG confirmed on the same day that it had also entered production.

Power outage results in Hibernia spill

20 August 2019

A power outage on the Hibernia oil production platform offshore Eastern Canada occurred over the weekend of August 17-18, resulting in a spill of 2,200 litres of oil into the Atlantic Ocean.

CNPC subsidiaries cancel plan to load Venezuelan crude

20 August 2019

Two CNPC subsidiaries have dropped plans to import several cargoes of Venezuelan oil in light of the US government’s new sanctions on Caracas.

Woodfibre LNG preparing to proceed with construction

20 August 2019

News that construction could soon begin on Woodfibre LNG is a further sign of progress, however slow, for Canada’s nascent LNG industry.

Second-quarter results show shale struggles

20 August 2019

The tough operating environment shale drillers find themselves in is being illustrated by a number of companies’ second-quarter results.

Japan’s SoftBank invests $110 in energy storage

20 August 2019

Softbank’s $100bn Vision Fund has made its first investment in energy storage technology by backing Swiss-based energy storage start-up Energy Vault with $110mn.