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EU to give Ukraine $25mn for demining operations and 35mn LED lightbulbs to help energy sector
The EU announced that it will provide Ukraine with 35mn energy-saving LED light bulbs and €25mn for humanitarian demining, the European Commission announced on February 3.
Infrastructure repairs restore 80% of Ukraine's electricity needs
Successful repair work to Ukraine’s electricity infrastructure has been carried out and the majority of the war-torn country’s needs are being met, Ukraine Business News reported on February 3.
Philippines clears development of seventh LNG import project
LNG sale and purchase agreements in US up in 2022
LNG exports in the US are booming as supply in Europe remains tight following sanctions on Russia because of its war in Ukraine. World supplies of LNG had already been constrained, with demand in Asia especially high.
Half of firms on Egyptian government’s privatisation list come from petroleum sector - minister
OMV Petrom reports record €2bn profit for 2022
Bill on Strategic Petroleum Reserve passes US House of Representatives
A bill on the Strategic Petroleum Reserve (SPR) has passed the US House of Representatives. The legislation, HR21, requires that any release of crude from the SPR is tied to a plan to increase oil and gas leasing on federal land.
ExxonMobil, Chevron profits soar
The US’s two largest oil companies have posted record profits as blowback continues including from politicians and consumer groups, and in particular from US President Joe Biden.
TotalEnergies EP Canada buys additional stake in Fort Hills
TotalEnergies EP Canada, a subsidiary of French supermajor TotalEnergies, is purchasing an additional 6.65% interest in the Fort Hills project from Teck Resources for CDN 312mn ($234mn). This is in advance of its spin-off from parent TotalEnergies.
Associated gas production in Azerbaijan increased by 2% in 2022
Bosnia’s ETMAX to build €450mn solar photovoltaic plants
Russian Rosneft said to lobby for more petrochemical support
Valero starts up new renewable diesel, naphtha plant on Gulf Coast
Valero Energy’s Diamond Green Diesel Holdings (DGD) has started up a second renewable diesel and renewable naphtha plant on the Gulf of Mexico
NorthAmOil: ExxonMobil, Chevron profits soar
FortisBC signs benefits agreement with First Nation group
Canadian LNG producer FortisBC announced in late January the signing of a benefits agreement with the Snuneymuxw First Nation band to facilitate the expansion of its Tilbury project at Delta, British Columbia.
Marathon Petroleum increases earnings
Marathon Petroleum Corp. (MPC) announced that for the full year 2022 its net profit attributable to MPC was $14.5bn, or $28.12 per diluted share, A year earlier it had net income attributable to MPC of $9.7bn or $15.24 per diluted share.
Indian imports of Russian oil could break records in 2023
Imperial outlines output growth plans
Leading Canadian oil sands producer Imperial Oil has various oil sands expansion projects on its radar in Alberta that it is planning to develop in stages, depending on various factors.
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