No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Norway has been talking for years about weaning itself off oil, but the Covid-19 crisis has revealed how far it has left to go.
Sonatrach has increased its stake in the Medgaz pipeline to 51%, following the completion of a deal with Spain’s Cepsa.
The European Union proposed making its climate-neutrality strategy a key pillar of a 750 billion-euro ($824 billion) recovery plan in a bid to boost economic growth and create new jobs.
The coronavirus pandemic has triggered the “largest drop in global energy investment in history”, the International Energy Agency (IEA) has said, launching its World Energy Investment 2020 report.
IGI Poseidon has invited companies to submit plans for the offshore parts of the proposed EastMed gas pipeline, which will run from the southeast Mediterranean into Europe via Greece and Cyprus.
The impact of coronavirus has not been felt as strongly by the gas industry as oil, Rystad Energy’s CEO Jarand Rystad has said, although increasing LNG production seems set to keep prices under pressure this year.
The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed.
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
After a week-long marathon of calls between world leaders and video conferences featuring dozens of energy ministers, it was the moment the 2020 oil price war finally ended.
US President Donald Trump’s call for a 10 million barrel per day – or even 15mn bpd – cut drove up oil prices last week but weak demand continues to run the show, with little respite expected from talks due to take place this week.
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.
As prices have plunged, interest in short selling of oil companies has increased.
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 has stuck to its growth expectations for LNG continuing to predict an emerging shortfall of supply from around 2025.
Extinction Rebellion is broadening its list of targets to include financial services and the media in pursuit of its environmental goals.
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.
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 and Turkey have called for a ceasefire in Libya, to come into force as of midnight January 12.
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 and power prices extended declines after a last-gasp accord between Russia and Ukraine on natural gas flows averted a winter supply crisis.
Working in different locations presents various logistical problems for companies – a problem Progressive TSL aims to tackle.
Nigeria’s Seplat Petroleum has completed its acquisition of Eland Oil and Gas, which owns assets in Nigeria’s Niger Delta.
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.
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.