Aberdeen’s Marex delivers marine emergency response plan in Qatar
Aberdeen risk management firm Marex has successfully completed its first major project in Qatar on how to respond to a major marine emergency.
LNG
Liquified natural gas is now a critical component of energy security
The COP29 meeting in Baku reinforced that the world is rapidly running out of time to avert catastrophic climate change unless transformative action is taken.
UAE oil giant buys into NextDecade LNG in first US deal
The United Arab Emirates’ main oil company bought a stake in NextDecade Corp.’s (NYSE:NEXT) natural gas export project in Texas, in a first US acquisition that also gives it a 20-year supply deal.
New LNG tank at Isle of Grain clears way for more Qatari supplies
A project that will expand UK gas storage next year has been touted as a boon for Europe’s energy security. It’s also a substantial win for the small Gulf nation of Qatar.
UK energy production reaches lowest level on record
Domestic energy production in the UK has reached the lowest level since records began in 1948.
ConocoPhillips CEO calls for US to end LNG permit pause in November
The Biden administration’s pause on liquefied natural gas export licenses needs to end after November’s presidential election, said Ryan Lance, chief executive of ConocoPhillips, the Houston-based oil and gas producer with a growing LNG business.
LNG demand will surge 50% in next decade, Woodside CEO says
Woodside Energy Group Ltd. (ASX:WDS), Australia’s top liquefied natural gas exporter, expects consumption of the fuel to rise 50% over the next decade, pushing the supplier to consider further expansions.
UK imports ‘record’ LNG amid growing reliance on US gas
US LNG is almost four-times more carbon-intensive than domestic UK gas production.
Chevron and unions agree to end Australia LNG strikes
Chevron (NYSE: CVX) and labor unions reached an agreement to end strikes at key liquefied natural gas facilities in Australia that have roiled the global market for the fuel.
Chevron and unions near deal to end LNG strike, regulator says
Chevron (NYSE: CVX) and unions are close to a deal to end strikes at LNG export plants in Australia that have roiled global markets, with the nation’s regulator proposing an agreement to bridge the remaining issues.
Chevron asks regulator to intervene in Australia LNG strikes
Chevron (NYSE: CVX) is applying to a labor regulator to help resolve its dispute with unions at liquefied natural gas sites in Australia as workers continue partial strikes.
Centrica signs major LNG supply agreement
Centrica has struck a long-term sale and purchase agreement for a million tonnes a year of liquefied natural gas (LNG) from the US.
EU aims to give members option to block Russian LNG imports
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.
Australia’s Santos reports $2.5bn profit surge from higher oil and gas prices
Santos (ASX:STO) today announced its full-year results for 2022, reporting record free cash flow of US$3.6 billion and underlying profit jumping 160% to US$2.5 billion. The results reflect significantly higher oil and LNG prices compared to 2021, due to stronger global energy demand, combined with a higher interest in PNG LNG following its merger with Oil Search.
China’s taking control of LNG as global demand booms
A rush by China to sign new long-term liquefied natural gas (LNG) deals promises to give the nation even more control over the global market at a time when competition for cargoes is booming.
Malaysia attracts more oil and gas investment as Petronas hosts stellar exploration round
Malaysia’s 2022 oil and gas bid round was a remarkable success, attracting fresh investment, new upstream explorers, as well as new ideas to the mix in Southeast Asia’s most successful market. Indeed, other Southeast Asian countries should take note as Malaysia also launched its 2023 round that will see more investors queuing up.
Australia’s Santos in $328m write-downs
Santos (ASX:STO) will take US$328 million ($470.8 million) in write-downs after slashing the volume of oil and gas reserves estimated in fields off Western Australia and other late-life ventures, despite increasing total reserves to a record level.
Santos bags key Dorado environmental approval in Australia
Australian oil and gas producer Santos (ASX:STO) today reported that it has approval from the offshore petroleum regulator for its US$2 billion Dorado oil and gas project in Western Australia. Significantly, the news may ease concerns about the regulator’s harder approach towards project approvals since a court ruling last year.
European gas is stuck in storage after prices sank from peak
Last year, as Russian natural gas supplies to Europe dwindled, buyers on the continent hoarded gas at record prices and injected it into storage in preparation for a grim winter.
China scouts for LNG in risk to gas market’s delicate balance
China is looking for shipments of liquefied natural gas (LNG) into next summer, a move which could tighten global supply and steal shipments away from Europe.
India can add oil and gas while it chases green goal, Modi says
India, the third-largest greenhouse gas emitter, is planning for an expansion of its oil and gas sectors even as it aims to hit net-zero by 2070.
There are signs a stronger China rebound will boost oil: IEA
China’s economy could be poised for a stronger-than-anticipated rebound that’ll deliver a demand boost for oil and natural gas, according to the head of the International Energy Agency.
Woodside revisits Timor LNG concept for Sunrise after bullying accusations
Woodside Energy (ASX:WDS) will reassess the option of developing a liquefied natural gas (LNG) project to commercialise the Greater Sunrise gas fields in East Timor after its Timorese partner accused it of “corporate bullying” last December.
Question mark over Beach’s LNG deal with BP as wells disappoint
Australia’s Beach Energy (ASX:BPT) has significantly cut estimated gas reserves at its LNG export project near Perth, Western Australia, by 11% following the Waitsia Stage 2 drilling campaign. BP (LON:BP) has an agreement to offtake the liquefied natural gas (LNG) volumes, which could be in doubt if the geology does not stack up as expected.
Brunei set to expand long-term LNG supply to Japan
Brunei LNG will start supplying liquefied natural gas (LNG) to Japan Petroleum Exploration Co. (JAPEX) from April as the company seeks to stabilise finances by boosting shipments to its largest export destination, reported Nikkei Asia.