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Norway’s Equinor Plans Sharp Increase to International Oil and Gas Output by 2030

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

(Reuters) – Equinor’s international oil and gas portfolio will return to growth in the next few years as the Norwegian energy group targets sharply increased output abroad by 2030, its head of foreign operations told Reuters. After recent divestment of onshore assets in Argentina, Equinor now produces oil and gas in seven countries outside Norway, …

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Canadian Oilpatch Expected to Keep Bulking Up Through Mergers and Acquisitions

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil / By

CALGARY – Oilpatch advisers are expecting the wave of consolidation to continue after last year’s string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question. Companies have seen the merit in bulking up through mergers and acquisitions as oil prices hover around the lacklustre US$60 …

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BP Suspends Buyback to Trim Debt, Sending Shares Down Over 4%

CDN and International News, Conventional Energy, Latest, Oil / By

BP pauses $750-million quarterly share buybacks Q4 net profit $1.54 billion, up 32% on year Bumerangue field expected to hold 8 billion barrels Shares dropped as much as 5.7% in morning trading (Reuters) – BP  suspended its share buyback programme and took about $4 billion of charges in its renewables and biogas assets, sending its shares …

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US Issues Fresh Guidance to Vessels Transiting Strait of Hormuz as Iran Tensions Simmer

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – The United States issued fresh guidance on Monday to commercial vessels transiting the Strait of Hormuz, a key shipping lane for Middle East oil supplies, as tensions simmered between Washington and Tehran over Iran’s nuclear program. Iran has in the past threatened to close down the Strait of Hormuz, a portion of which …

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Venezuela Boosts Oil Output in Orinoco Belt, Country’s Production Approaches 1 Million bpd, Sources Say

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Venezuela’s state oil company PDVSA has reversed most of the output cuts it had ordered at its own oilfields and joint ventures in the country’s main crude region, the Orinoco Belt, which has boosted the nation’s total production close to 1 million barrels per day (bpd), sources close to operations said. The Orinoco …

Venezuela Boosts Oil Output in Orinoco Belt, Country’s Production Approaches 1 Million bpd, Sources Say Read More »

Kremlin Says Fuel Situation in Cuba is Critical, Accuses US of ‘Suffocating’ the Island

CDN and International News, Energy Topics & Technology, Gasoline, Latest / By

MOSCOW, Feb 9 (Reuters) – The Kremlin said on Monday that the fuel situation in Cuba, which has unveiled a plan to protect essential services and ration fuel, was critical and that U.S. attempts to “suffocate” the island’s economy were causing many difficulties. Cuba detailed its plans to navigate the deepening crisis on Friday as …

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Shell Wants to Export Venezuelan Gas Through Trinidad, CEO Says

CDN and International News, Conventional Energy, Latest, Natural Gas / By

(Reuters) – Shell hopes to produce gas from Venezuela’s Dragon field in three years and have it processed in Trinidad and Tobago for export, CEO Wael Sawan told Bloomberg TV in an interview on Thursday. Shell and Trinidad have been trying to increase the supply of natural gas to Trinidad’s Atlantic LNG export facility and …

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Shell Weighing Venezuela Offshore Investments Worth Billions of Dollars, CEO Tells CNBC

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil / By

(Reuters) – Shell is weighing investments in certain offshore natural gas opportunities in Venezuela involving investments worth a few billion dollars with production expected in the next couple of years, CEO Wael Sawan said in an interview with CNBC on Thursday. “These are opportunities that could potentially be activated within months,” he told CNBC, adding …

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Japan-Qatar Gas Tie-Up Highlights Global Push for Energy Security: Bousso

CDN and International News, Conventional Energy, Latest, LNG, Natural Gas / By

By Ron Bousso Qatar’s long-term deal to supply Japan’s power giant JERA with liquefied natural gas highlights two key themes in the red-hot market for this super-chilled fuel: the race to gain market share and the global push for energy security. Qatar’s national oil and gas company QatarEnergy on Tuesday signed a deal to supply …

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Venezuela Oil Won’t Top Others in Region for Years, Rystad Says

CDN and International News, Conventional Energy, Latest, Oil / By

By Ella Feldman Argentina, Guyana and Brazil remain poised to drive oil production growth in South America for years to come despite the US push for investment in Venezuela, Rystad Energy says. The consulting firm estimates flagship projects in the three countries will add more than 700,000 barrels per day in oil production this year, …

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