Latest Stories

NNPCL to increase investments in gas

3 August 2023

The Nigerian National Petroleum Company Limited (NNPCL) said on Monday, 31 July that it plans to develop Nigeria’s gas and transportation infrastructure in a push to achieve clean and affordable energy in the country.

Luberef sees profits climb 21.68% in H1

3 August 2023

The net profit of Saudi Aramco Base Oil Co. (Luberef) climbed 21.68% to $240mn during the first half of 2023, with the company’s net profit for the second quarter also rising 3.97% to $121mn compared with $116mn reported the previous year.

Mexico Pacific signs 20-year contract with ConocoPhillips for natural gas supply

3 August 2023

Mexico Pacific has signed a 20-year sales and purchase agreement to supply liquefied natural gas (LNG) to US energy major ConocoPhillips, the Mexican LNG developer said on 3 August.

Angola to invest in new oil refineries

3 August 2023

Angola, Africa’s second-largest oil producer – producing 1.1mn bpd of crude – will begin to produce diesel and petrol for its own population upon completing new refineries. Oil and gas generate around three-quarters of the country’s exports.

Mexico’s Finance Ministry administers capital injection to Pemex

3 August 2023

Mexico’s Pemex received a capital injection of almost MXP65bn ($3.82bn) last week from the Finance Ministry.

Venezuela's crude exports reach record levels in July

3 August 2023

Venezuela registered a significant boost in oil exports in July, reaching levels not seen in more than three years. This upturn is attributed to new supply contracts and increased shipments by US producer Chevron.

Wood Mackenzie sees Bolivia becoming net gas importer by 2030

3 August 2023

Wood Mackenzie has said it expects Bolivia’s natural gas production and exports to decline dramatically enough to transform the country into a net importer by the end of the decade.

Alaska LNG faces hurdle after Japan and South Korea reject proposed project

3 August 2023

The US’s proposed Alaska LNG project has hit a major road bump with Japan and South Korea declaring they will neither invest in or sign contracts to purchase LNG from the project, The Wall Street Journal reported on July 25.

BP vows to defend its rights in arbitration case against Venture Global

3 August 2023

BP has declared it will defend its rights “to the absolute fullest” in its arbitration case brought against Venture Global LNG for failing to deliver contracted cargoes, BP’s chief executive officer, Bernard Looney, told Reuters on August 1.

Bio-LNG now possible in over 60 ports

3 August 2023

The green LNG bunkering market has grown with bio-LNG now available in almost 70 international ports, including key shipping hubs such as Singapore and Rotterdam according to an analysis released by SEA-LNG on July 27.

Hess COO sees Payara oilfield reaching full capacity in five months

3 August 2023

Hess COO Greg Hill expects Payara, the third oil development project at the Stabroek block offshore Guyana, to be yielding 220,000 barrels per day (bpd) of oil within five months of beginning production.

Former Argentinian officials call for more investment in gas pipelines

3 August 2023

Former Argentinian government officials say the country must invest more in the President Néstor Kirchner Gas Pipeline to achieve its goal of becoming a leading global supplier of natural gas.

India’s Petronet seeks LNG extension deal with Qatar at lower prices

3 August 2023

India’s state-owned LNG company Petronet LNG will attempt to extend with Qatar its long-term gas import deal at lower prices than the Gulf country offered China and Bangladesh in recent deals, Reuters reported on July 31.

KPC reports decade-high profits

3 August 2023

State-owned Kuwait Petroleum Corp. (KPC) reported a total net profit across the parent and its eight subsidiaries of more than KWD2.6bn ($8.48bn) for 2022. The figure is the highest KPC has reported for 10 years.