Latest Stories

Report: Olmeca refinery may cost $14bn

6 May 2022

The final price tag for the 340,000 barrel per day refinery that Mexico’s Pemex is building in Tabasco State may be nearly twice the original figure of $8bn, according to a report from Reuters.

SENER restores Trafigura’s five fuel import permits

6 May 2022

Trafigura, the Swiss-based commodities trader, reports that Mexico’s Secretariat of Energy (SENER) had restored the petroleum product import permits that it cancelled last September.

Imperial Oil posts highest net income in 30 years

6 May 2022

Canada’s Imperial Oil posted net income of CAD1.2bn ($914mn) in the first quarter of 2022 on the back of strong oil and gas prices, representing its highest total in 30 years.

BP details Gulf production increase plans

6 May 2022

BP revealed this week it intends to double crude output from its Thunder Horse project in the US Gulf of Mexico and also said that it would inaugurate its latest production platform, Argos, before the end of the year.

Lithuania launches GIPL gas link with Poland

6 May 2022

The €500mn pipeline will enable the Baltic states and Finland to receive pipeline gas from Western Europe for the first time.

Hungarian government weighs alternatives to Russian energy

6 May 2022

The fundamental problem remains that the government has done little to lessen its dependence on Russian energy sources over the past 12 years; if anything, it has deepened its dependence.

African gas and African realities

6 May 2022

The case of Spanish-Moroccan-Algerian tensions over the GME pipeline demonstrates that if the EU wants Africa’s gas, it may also have to confront regional tensions and disputes.

Petrobras signs PSCs for Atapu, Sépia

6 May 2022

Petrobras announced on April 27 that it had signed production-sharing contracts (PSCs) for Atapu and Sépia, two of the four Santos basin sites within the offshore Transfer of Rights (TOR) area.

Indian refiners eye Brazilian crude, but few large-scale term supply deals are likely

5 May 2022

Indian refiners are considering buying more Brazilian crude, but few large-scale term supply deals are likely.

CNOOC lead China’s rush of orders for LNG tankers

5 May 2022

Japan’s NYK has ordered six new 170,000 cubic metre gas carriers from CSSC Hudong-Zhonghua Shipbuilding for charter to CNOOC, as China continues to raise its LNG export capabilities.

Will India become too hot to live in?

5 May 2022

Behind India’s soaring temperatures lie a healthy appetite for cheap Russian fossil fuels, lukewarm enthusiasm for a fast reduction in CO2 emissions and not enough investment in climate adaption