Latest Stories

Occidental sells $13bn of bonds to fund Anadarko acquisition

8 August 2019

Occidental Petroleum has sold $13bn of bonds to help finance its $38bn acquisition of Anadarko Petroleum.

Chevron’s profit up, ExxonMobil’s down in second quarter

8 August 2019

Chevron has reported strong profits for the second quarter of 2019, while rival super-major ExxonMobil reported a year-on-year drop owing to low weaker natural gas prices and higher maintenance costs.

Plains completes Cactus II as new partners buy into project

8 August 2019

Plains All American Pipeline has completed its Cactus II pipeline from the Permian Basin in West Texas to the Corpus Christi area on the Texas Gulf Coast.

Turkey’s Tupras reports 15% y/y decline in Q2 profit

8 August 2019

Q2 profit significantly above market average expectation mainly thanks to hefty deferred tax gain recorded by oil refiner.

Canadian pipeline operators add capacity for more crude to reach US refiners

8 August 2019

Pipeline operators are finding ways of sending more Canadian oil to US refiners, despite the fact that no major new pipelines are coming online, and any proposals tend to be held up by regulatory delays and litigation.

Shell approves PowerNap tieback in deepwater Gulf

8 August 2019

Shell Offshore has made a final investment decision for the PowerNap deepwater project in the US Gulf of Mexico.

Saipem signs up to Arctic LNG 2 joint engineering venture

8 August 2019

Italy’s Saipem has agreed to participate in a joint engineering venture to build the Arctic LNG 2 project in Russia alongside France’s Technip and Russia’s NIPIgaspererabotka.

US authorises Gulf LNG exports

8 August 2019

The US Department of Energy has approved exports from Kinder Morgan’s Gulf LNG project, which would be located in Jackson County, Mississippi.

Japanese utilities respond to low LNG spot prices

8 August 2019

Japanese utilities are becoming more aggressive in their price reviews for long-term LNG contracts and seeking to buy more LNG on the spot market.

Chile’s Codelco sells Mejillones LNG stake

8 August 2019

Chile’s state-owned mining firm Codelco has sold its stake in the Mejillones LNG terminal to Ameris Capital AGF, a local investment fund.

US becomes third largest LNG exporter as first wave nears completion

8 August 2019

The US is now the world’s third-largest LNG exporter but the US-China trade war still threatens further expansion

Brazil has high hopes for next offshore licensing rounds

8 August 2019

Felipe Kury, the head of Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP), believes that his country has a lot riding on the success of its next offshore licensing rounds.

Russia's Gazprom could SPO another 3.7% in autumn 2019

8 August 2019

Russia's natural gas giant and pipeline exports monopolist Gazprom could SPO an additional 3.7% of its quasi-treasury shares in the next few months to cash in again on a dramatic rally in the company’s share price in July

Repsol appoints Peterson as main logistics contractor for drilling offshore Guyana

7 August 2019

Peterson, a UK-based provider of energy and logistics services, will serve as Repsol's main logistics contractor during the drilling of the Carapa-1 exploration well.

US court upholds legitimacy of Citgo’s ad hoc board

7 August 2019

A US court has issued a ruling upholding Venezuelan Interim President Juan Guaido’s right to appoint an ad hoc board at Citgo, a Houston-based downstream subsidiary of PdVSA.

Nigeria boosts rural power access

7 August 2019

Nigeria has opened a 2.8-MW solar hybrid power project at the Alex Ekwueme Federal University as part of the government’s rural electrification drive

Zimbabwe pays debt to ease power crisis

7 August 2019

Zimbabwe plans to resume paying its power debts in a bid to raise imports to 700 MW and to bring the current power crisis to an end.