Oil’s 60% crash is the tip of an iceberg. The reality is worse
As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.
Europe
Price plunge fires up short sellers
As prices have plunged, interest in short selling of oil companies has increased.
At London’s oil week, clues about demand will be all around
Oil traders are gathering in London for what’s normally a week of lavish parties, dealmaking and market chatter. China’s coronavirus means this year’s events will be more subdued – and fewer in number – than usual. The talk will be about absent friends and uncertain demand.
Shell tips LNG shortfall by mid-2020s
Shell has stuck to its growth expectations for LNG continuing to predict an emerging shortfall of supply from around 2025.
XR broadens target list for 2020
Extinction Rebellion is broadening its list of targets to include financial services and the media in pursuit of its environmental goals.
Oil investing in a carbon-averse world
The world continues to need investment in the oil and gas sector, according to most forecasts, but this is an increasingly difficult pitch for investors given concerns over carbon emissions.
Russian-Turkish ceasefire for Libya takes flight
A ceasefire in Libya driven by Turkey and Russia has received backing from the two major factions in the North African country, with hostilities having officially stopped on January 12.
Russia, Turkey call for Libya ceasefire
Russia and Turkey have called for a ceasefire in Libya, to come into force as of midnight January 12.
Russia Readies New Gas Link to Europe in Defiance of US
Russia officially opened its TurkStream natural gas pipeline on Wednesday, further diversifying export routes to Europe amid a backlash from the U.S.
European gas prices fall as Ukraine, Russia deal averts crisis
European gas and power prices extended declines after a last-gasp accord between Russia and Ukraine on natural gas flows averted a winter supply crisis.
Making progress with Progressive TSL
Working in different locations presents various logistical problems for companies – a problem Progressive TSL aims to tackle.
Eland sale puts Westhill base on thin ice
Nigeria’s Seplat Petroleum has completed its acquisition of Eland Oil and Gas, which owns assets in Nigeria’s Niger Delta.
Petrobras sharpens deepwater focus in quest for value
Petrobras is in a state of transformation, company officials said at a press conference in London, with an eye on selling down assets and tackling debt – in tandem with major expansion plans.
Russia Opening Giant Gas Link to China as Putin Pivots East
The world’s biggest natural gas exporter and one of the globe’s top consumers of the fuel cement their energy co-operation on Monday with the launch of Russia’s giant Power of Siberia pipeline to northern China.
Maltese LNG player arrested
The head of a Maltese company working on an LNG-to-power scheme has been arrested on a yacht as he was leaving the country.
Opening the Gateway to Abu Dhabi
Energy Voice and Granite PR have held their first co-branded Gateway event in Abu Dhabi, with a pre-conference breakfast involving ADNOC, where the importance of innovation and co-operation was high on the menu.
Uniper bullish on LNG availability
Uniper is confident that LNG supply will continue to be bountiful in the years to come, providing a secure source of supply for demand around the world, company board member Keith Martin told Energy Voice at ADIPEC.
KN puts wheels in motion on FSRU purchase plan
Klaipedos Nafta (KN) intends to buy a floating storage and regasification unit (FSRU) by the end of 2024.
Cyprus signs off on Aphrodite exploitation plan
Cyprus has issued an exploitation licence to three companies to develop the Aphrodite field, with gas to be exported to Egypt for liquefaction.
Sovcomflot lines up cash for Arctic LNG 2 carriers
Sovcomflot has signed an agreement on lease financing with VEB.RF Group, for the first of a series of icebreaking LNG carriers (LNGCs) that will serve Arctic LNG 2.
Low demand, US supply squeeze OPEC
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
LNG comes through for Shell and Total
While low LNG spot prices have taken their toll, the Europe’s two major players in the sector, Total and Shell, performed strongly in the third quarter.
Russia meets Africa at Sochi
A number of African states are in the process of visiting Sochi, largely in the hope of signing deals for new investment.
French NGOs pressure Total over Uganda work
A group of NGOs has filed in a French court to compel Total to disclose details of its human rights and environmental plans in Uganda.
Yamal LNG shipping venture cleared from US sanctions
A Teekay and COSCO joint venture operating LNG tankers serving Yamal LNG has been cleared to resume operations.