The price cap on Russian crude oil exports is starving President Vladimir Putin’s budget of income, though it likely won’t force him to ratchet down spending for years thanks to a $45 billion buffer of yuan reserves.
Data from the European Union shows Algerian gas flows to Italy up 41% year on year in the third quarter of 2022.
The price cap on Russian crude oil exports is starving President Vladimir Putin’s budget of income, though it likely won’t force him to ratchet down spending for years thanks to a $45 billion buffer of yuan reserves.
Data from the European Union shows Algerian gas flows to Italy up 41% year on year in the third quarter of 2022.
Wintershall Dea has announced it will ‘fully exit’ Russia, joining the ranks of energy majors pulling out of the country in the wake of its invasion of Ukraine.
Enagas is to acquire a 20% stake in the Dutch BBL Company, which operates a 150-mile gas interconnection linking the UK and the Netherlands.
“A gas deficit situation this winter is becoming increasingly unlikely,” it said. “However, a worsening of the situation can still not be ruled out. The need to save gas is still important.”
It also noted that there was scope to develop hydrogen resources within the venture. There was discussion in December, during talks between Algeria and Germany, about the possibility of transporting green hydrogen via Italian links.
Norway has handed out nearly 50 oil and gas exploration licences in a “gratifying” display of interest in the sector.
“We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company,” said Frontline CEO Lars Barstad.
Germany has reduced its imports of Russian energy to zero and imported its first full cargo of LNG to Uniper’s new terminal at Wilhelmshaven.
Turkey gave Bulgaria access to its liquefied natural gas terminals, opening up a tightly controlled corner of the European gas market that could help diversify the region’s supply mix.
“Unless these are addressed, some companies will face an up-to 50% cut in their reserves-based lending capacity as facilities are reviewed over time by banks.”
In 2020, DNO took a £69 million charge on the value of Brasse, even while maintaining that the field was still commercial.
A Swiss court has granted a six-month "stay of bankruptcy" to the operating company for the never-opened Nord Stream 2 pipeline, which was built to bring Russian gas to Germany but put on ice shortly before Russia invaded Ukraine in February.
Gazprom PJSC’s exports to its key foreign markets almost halved in 2022 — reaching the lowest since at least the start of the century — as flows to Europe were slashed following the invasion of Ukraine.
Excelerate Energy has delivered an FSRU to Finland, loaded with a commissioning cargo.
AD Ports Group has agreed to launch a joint venture with Kazakhstan’s national oil company to provide shipping services in the Caspian Sea.
As of 19 December, Westwood Global Energy reports that there are three exploration wells active, with one in the Barents Sea, one in the Norwegian Sea, and one in the North Sea. One exploration well is suspended.
Var Energi (OSLO: VAR) is celebrating Christmas early as it announces the “largest discovery” in the Barents Sea this year.
Seadrill (NYSE: SDRL) has announced it will acquire rival rig owner Aquadrill in an all-share deal worth nearly $1 billion.
Germany agreed to reduce its stake in Uniper to 25% plus one share by 2028 at the latest.
President Putin said Kovykta and Chayandinskoye could produce 50 bcm per year.
The Italian company said it would incorporate the well results into its evaluation of the area. Eni has its eye on a fast-track development in Block 6, it said.
Adnoc has struck a deal to buy a 24.9% stake in Austria’s OMV, for an undisclosed price, from Mubadala Investment.
KCA Deutag President Land Simon Drew said the contract extensions are “a key part of our strategy to grow our business in key markets such as the Middle East”.
Wintershall DEA is to press ahead with development of Dvalin North, the largest discovery in Norway in 2021.
