Shell given thumbs up by regulators to develop Jackdaw gas field
Shell (LON: SHEL) has received approval to forge ahead with the development of the Jackdaw gas field in the North Sea.
Gas
EU leaders back push to ban most Russia oil over Putin’s war
European Union leaders agreed to pursue a partial ban on Russian oil, paving the way for a sixth package of sanctions to punish Russia and its president, Vladimir Putin, for the invasion of Ukraine.
Shell approves $2.5bn Crux gas project to backfill Prelude LNG off Australia
Shell (LON:SHEL) has taken a final investment decision (FID) to develop the Crux natural gas field offshore Western Australia.
Top India explorer ONGC’s profit misses as levies weigh on oil gains
Oil & Natural Gas Corp.’s profit rose 32% in the fourth quarter but missed estimates as an increase in government levies ate into the gains from soaring oil prices after Russia’s invasion of Ukraine.
Pakistan considers gas import deal with countries including Russia
Pakistan said it is considering to sign a liquefied natural gas (LNG) purchase agreement with various countries including Russia as it seeks to secure supply and ease a crippling shortage.
TechnipEnergies offshoot Genesis gets carbon gig in Australia
Genesis, a wholly owned TechnipEnergies company, have signed a Master Service Agreement (MSA) with PZE Limited (PZE) to provide decarbonisation and advisory services for various projects in Australia.
Fitch takes Indonesia’s Medco off rating watch after ConocoPhillips acquisition
Fitch Ratings has removed Medco Energi from rating watch, as the oil and gas company has completed the acquisition of the giant Corridor Block from ConocoPhillips, and the outlook is positive. Its long-term issuer default rating is now at B+.
South Korea court rejects case against Barossa pipeline financing
A South Korean court has rejected an application from a group of indigenous Australians to block South Korean export credit agencies from funding a deep-water pipeline for the Santos-led (ASX:STO) Barossa gas and liquefied natural gas (LNG) project off northern Australia.
Risks rise for Thai power sector as PTTEP struggles with gas supply challenges, warns Fitch
Thailand’s state-backed upstream player PTT Exploration & Production (PTTEP) is facing significant gas supply challenges that pose further downside risks to the Southeast Asian nation’s gas power sector, warned Fitch Solutions.
Australia aspires to be ‘renewable energy superpower’ after decisive climate change election
Australians voted in a new government that has vowed to end decades of inaction by one of the world’s highest per capita emitters. Now the fight is about just how quickly to make up for lost time.
India’s ONGC eyes more Russian oil and gas assets
India’s state-backed Oil & Natural Gas Corporation (ONGC) (NSE:ONGC) is considering placing more offers for Russian energy assets that western majors, such as Shell (LSE:RDSA), BP (LON:BP), and ExxonMobil (NYSE:XOM), are seeking to divest following Russia’s invasion of Ukraine, the Economic Times reported yesterday.
Woodside wins backing to buy BHP oil, gas amid climate backlash
Woodside Petroleum almost certainly won investor approval to boost global oil and gas production by adding BHP Group assets while also facing a rebuke on its climate accounting.
Gas output falls in Thailand exacerbating need for costly LNG
Thailand’s dependence on imported liquefied natural gas (LNG) continues to expand despite soaring global prices. Significantly, the increasing demand for LNG is being exacerbated by production declines across ageing domestic fields, particularly Erawan.
Gas a ‘natural partner’ to renewables to cut emissions, says RISC
Gas coupled with renewable power is a natural partnership on the road to net zero and the pairing is already cutting emissions in many countries, according to global energy advisory company RISC.
‘Decarbonisation, not defossilisation,’ is key to energy transition and security, says Santos CEO
The momentum of the energy transition must be maintained without compromising energy security, and that includes affordability, as well as universal access to reliable energy. But “we can only do this through decarbonisation, not defossilisation,” said Santos chief executive Kevin Gallagher.
Euro Area would barely grow if Russian gas cut off, EU Says
The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to new projections from the European Commission.
Giant CCS plan in East Timor could help secure finance for Sunrise LNG
As the world seeks to decarbonise, East Timor hopes that a plan for a giant carbon capture and storage (CCS) hub will help it find financial backing for a proposed liquefied natural gas (LNG) facility that would process gas from the Greater Sunrise fields.
Russia curbs gas supplies to Germany in warning for Europe
Germany said Russia is using energy as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine.
As the cost of renewables has fallen rapidly, gas is no longer a viable bridging tool
In the last few months, gas’ role in the energy mix has been put under a microscope.
India buyers grab discounted Russia LNG shunned by rest of world
India’s liquefied natural gas (LNG) importers are purchasing extra volumes from Russia at a discount as most other spot buyers shun the fuel.
Ukraine turns off Europe-bound gas from Russia
Ukraine has cited "force majeure" to potentially halt a third of Russian transited gas flows to Europe from Wednesday, while Russia’s Gazprom claims there have been no issues that would justify the move.
$8.5bn worth of Southeast Asia oil and gas projects eye FID in 2022, but delays likely, says Rystad
Upstream oil and gas projects with over 1.4 billion barrels of resources and $8.5 billion worth of greenfield investments are targeted for final investment decisions (FIDs) in Southeast Asia this year, based on operators’ plans, reported Rystad Energy. However, delays are likely with more activity expected to happen next year, noted the energy consultancy.
Sacgasco accelerating offshore oil development in Philippines
Australian-listed Sacgasco (ASX:SGC) has agreed an alliance covering extended well testing and early production systems in the Palawan basin offshore Philippines as they aim to pump oil as fast as possible in the current high oil price environment. Significantly, the company and its partners will be hoping to eek oil out of an old field before their contract expires in 2024.
Ineos trialling hydrogen transport through 18-mile Scottish pipeline
Ineos has started a trial to transport hydrogen into the gas grid via a decommissioned pipeline in Scotland.
CNOOC denies plans for $3 billion UK North Sea exit
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.