The UK has corralled about 20 nations including the US, Canada and Italy at the COP26 climate summit to pledge to stop funding foreign fossil fuel projects, though the impact of the deal is undermined by the absence of key countries.
The big question is what role natural gas will play in the changes in the global energy market, says the CEO of MET International. György Vargha explains why it is so important to manage risks in an integrated way.
Eni reported strong results for the fourth quarter, with an adjusted operating profit of 802 million euros ($972.5mn) reported at its exploration and production unit.
United Oil & Gas expects production to rise slightly in 2021, while capital expenditure will double primarily as a result of drilling two wells in Egypt.
Saipem has signed a Memorandum of Understanding with a leading energy infrastructure operator to start working together on new energy transition technologies.
Saipem has confirmed it will “considerably” downsize its investment plans after posting pre-tax and interest losses of £644 million for the first half of this year.
The impact of coronavirus has not been felt as strongly by the gas industry as oil, Rystad Energy’s CEO Jarand Rystad has said, although increasing LNG production seems set to keep prices under pressure this year.
The purchase of Edison E&P will provide Energean with insulation from oil price volatility, although the company has trimmed its capital expenditure plans in 2020.
Libya expects to raise more than $20 billion in revenue in 2019, with production running at around 1.25 million barrels per day, the company’s chairman Mustafa Sanalla said at a conference in Tunis.
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Italy's hardline interior minister has branded the migrants who hijacked a tanker as pirates while aid groups blamed European Union policy for the incident which was ended by the intervention of a Maltese special operations team.
Italy’s Five Star Movement used to rave about towns like Montieri, a village in the verdant Tuscan foothills that burns little coal or natural gas. Instead, the local power plant harnesses steam rising naturally from hot springs deep underground to generate electricity.
The center of gravity in Europe’s natural gas market is heading south as one of the continent’s biggest pipeline operators builds a system that could make Italy an exporter of the fuel for the first time.