Based on the IEA’s STEPS baseline scenario, Guyana will increase production to around 2mn bpd by the mid 2030s. Under the more conservative APS scenario, the IEA sees Guyana reaching 1.3mn bpd by 2035.
"It was done in co-operation with the customer because we couldn't just walk out and slam the door: We'd have lost a lot of money," a company executive told the newspaper, speaking anonymously.
Russia imported millions of pounds of Halliburton equipment last year despite sanctions, according to a report by The Guardian.
By creating and offering a full suite of carbon management solutions, major gas producers and exporters can create demand without fears of “locking-in” emissions or building “stranded assets”.
“The platforms command valuable hydrocarbon resources. However, like Snake Island to the west, they can also be used as forward deployment bases, helicopter landing sites, and to position long-range missile systems,” the MoD said.
Russia expects to get a huge inflow of energy revenue by the end of this year despite an oil price cap imposed by Group of Seven nations, and may channel it toward spending as the government continues to pour resources into the war in Ukraine.
SLB, formerly known as Schlumberger, has announced it will be halting shipments of its products and technology into Russia from all its facilities around the globe.
In the second quarter of the year Windward reported another big increase in Malacca, up 200% from the first quarter. Malta, meanwhile, was up 220% on the quarter.
In my view the integrity of the energy system is actually an issue of national health and safety in that its disruption would cause chaos and create a major threat to life as indeed the awful events in Ukraine have shown us only too graphically.
The Energy and Climate Change Intelligence Unit (ECIU) said that it would not be possible to avoid this by producing more gas domestically, as the UK's North Sea reserves are dwindling.
The Defence Secretary has faced calls to reveal to MPs how the UK is responding to a Russian "spy ship" which has patrolled in UK waters.
Widespread breaches of the Group of Seven oil price cap likely took place in Asia in the first quarter, according to a team of researchers who analyzed official data on Russia’s foreign trade alongside shipping information.
A group of Western European nations led by Germany and France have committed to massively ramping up the production of clean energy from wind turbines in the North Sea, to both meet climate targets and reduce their strategic energy dependence on Russia.
Documentary makers have accused Russia of having a programme to “sabotage” wind farms and communication cables in the North Sea.
Ukraine’s state-run energy firm NJSC Naftogaz Ukrainy says it won an arbitration case against Russia, in a decision that would oblige Moscow to pay $5 billion or risk the seizure of assets abroad.
Speculation that Shell (LON: SHEL) may convert and repatriate more than $1 billion of ruble earnings from the sale of a project in the Far East has helped drive the Russian currency to its weakest level in a year.
The European Commission told member states that a $60-a-barrel cap on the price of Russian oil is proving effective in hurting the Kremlin’s access to petrodollars while not disrupting the market, and will remain unchanged for now.
Orkney and Shetland MP Alistair Carmichael has raised concerns over a Russian tug vessel spotted near vital energy infrastructure around Shetland.
The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions.
The oil tanker Turba normally should have been melted down by now.
The Danish Energy Agency has invited Swiss-based Nord Stream 2 to participate in an operation to lift an unknown object found next to the damaged gas link in the Baltic Sea.
Norway is to deploy its military to protect key subsea oil and gas assets following an increase in Russian submarine activity.
The world’s biggest oil traders said they’re wary of trying to muscle back into Russian exports, a response that might disappoint the US Treasury officials working to ensure no disruption to global petroleum supplies.
In the year since Russia invaded Ukraine, roiling energy markets across the globe, China’s appetite for Moscow’s oil, gas and coal has grown apace, with imports rising by more than half.
Group of Seven nations are unlikely to revise a price cap on Russian oil this week, despite initial evidence that crude is selling well below the current $60 threshold.