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By Yousef Saba Lukoil exits Ghasha project, hands ADNOC 10% stake Heavy demand from Asian lenders, including Chinese banks First gas production expected before decade’s end DUBAI, Dec 18 – Abu Dhabi National Oil Company has secured $11 billion in structured financing to monetise future gas production from its Hail and Ghasha development, the state …
ADNOC Lands $11 Billion Financing for Future Gas Output Read More »
(Reuters) – Saudi Arabia’s crude oil exports hit their highest level in two and a half years in October, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Crude exports from the world’s largest oil exporter increased to 7.100 million barrels per day (bpd), higher than September’s 6.460 million bpd, and their highest …
Saudi Arabia Crude Exports Rise to Two-and-a-Half Year High in October Read More »
The surprise appointment of Meg O’Neill as BP’s first outsider CEO offers the bruised $90 billion British oil company three clear strategic choices for moving forward: build, buy or be bought. BP announced on Wednesday that CEO Murray Auchincloss would step down the following day and that O’Neill, current CEO of Australian-listed Woodside Energy, would …
BP’s CEO Shake-up Could Pave Way to Mega Merger: Bousso Read More »
Oil and gas major BP has appointed Meg O’Neill, the head of Australia’s Woodside Energy, as its next CEO to lead its effort to boost profits and refocus on oil and gas after a detour into renewables. O’Neill, who will take over in April following the abrupt departure of Murray Auchincloss, will become BP’s first …
BP Appoints Woodside’s Meg O’Neill as CEO After Auchincloss’ Abrupt Exit Read More »
Summary US firms eye Canada’s Montney due to depleted US shale prospects Montney offers room to grow with comparatively untapped geology Rising interest in Canada’s oilpatch comes after a decade of reduced foreign investment (Reuters) – U.S. oil and gas producers in search of fresh drilling territory are looking to expand in Western Canada’s Montney …
Why Canada’s Hottest Shale Play is Catching the Eye of US Producers Read More »
(Reuters) – Venezuela may soon have to start closing some oil wells as it runs low on storage capacity following last week’s tanker seizure and U.S. plans to block other sanctioned vessels, Bloomberg News reported on Wednesday, citing people familiar with the situation The country’s main oil storage and tankers sitting at its terminals are …
Venezuela is Running Out of Oil Storage Space Amid Tanker Curbs, Bloomberg News Reports Read More »
US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10.Source: US Department of Justice The US has ratcheted up pressure on the government of Venezuela with a series of measures designed to stifle the country’s vital oil exports. …
What US Blockade Means for Venezuela’s Oil Industry Read More »
By Francois de Beaupuy, Nayla Razzouk, and Francine Lacqua TotalEnergies SE Chief Executive Officer Patrick Pouyanne said rising demand for oil will help to underpin prices, despite their recent slump on growing concerns about a global surplus. Oil is on track for a yearly loss, with supply set to exceed demand both this year and …
TotalEnergies CEO Says Growing Demand Will Underpin Oil Prices Read More »
(Reuters) – Mexican President Claudia Sheinbaum on Wednesday asked the United Nations to act in order to avoid bloodshed in Venezuela, as tensions escalate between the South American country and the United States. Sheinbaum said during her morning press conference that Mexico is against intervention and against foreign interference in Venezuela. “I call on the …
Mexican President Calls on UN to ‘Avoid Bloodshed’ in Venezuela Read More »
Summary Renewables, nuclear, and natural gas to reduce coal’s dominance by 2030 India’s coal use declined due to intense monsoons boosting hydro power US coal consumption rose with higher gas prices and policy support China consumes 30% more coal than the rest of the world combined (Reuters) – Global coal demand reached a record high …
Global Coal Demand Hit Record High This Year But is Set to Decline by 2030, IEA Says Read More »
