OMV (Norge) AS, operator of PL 1194, completes drilling in the Norwegian Sea for the “Haydn/Monn” exploration areas. The well encountered gas with an estimated total recoverable volume of 30 to 140 million barrels of oil equivalent (boe). “By focusing on gas as a transition fuel, OMV is investing in affordable energy solutions and contributing […]
(Bloomberg) — Sinopec, China’s largest oil refiner, reported a slight increase in first-half profit as better performance at its upstream operations offset weakness in refining and petrochemicals. Net profit for the first six months was 35.7 billion yuan ($5 billion), up 1.7 percent from a year earlier, according to a stock exchange statement on Sunday. […]
(Bloomberg) — According to Kevin Gallagher, chief executive of Santos Ltd., demand for natural gas will remain strong despite government and corporate efforts to reduce emissions to zero by mid-century. Gallagher is under pressure to deliver on its ambitious strategy to increase production by more than 50% by the end of the decade and establish […]
According to Monday morning’s AAA gasoline report, gasoline prices in Michigan have fallen for the third week in a row, down 12 cents from the previous week. The average price for a gallon of unleaded fuel is currently $3.46. That means prices are down 6 cents from last month and down 42 cents from the […]
(Bloomberg) — Russian gas producer Novatek PJSC appears to be pushing ahead with an expansion project for its Arctic LNG 2 plant despite Western energy sanctions. A small fleet of tugboats towing a second production train approached the site of the plant on Saturday, according to vessel tracking data. The platform left the construction site […]
By Julianne Geiger – August 16, 2024, 12:27 PM CDT The total number of active oil and gas rigs in the U.S. fell by two this week to 586. US crude oil production fell by 100,000 barrels per day in the week ended August 9. Oil prices, including WTI and Brent, fell […]
Maguire: Key energy indicators for China until the end of 2024 LITTLETON, Colo., Aug. 13 (Reuters) – Lower consumption in China prompted the Organization of the Petroleum Exporting Countries (OPEC) this week to cut its forecasts for global oil demand growth, underscoring the crucial role the world’s second-largest economy plays in energy markets. Nevertheless, […]
China has completed construction of a massive offshore oil and gas platform, state media reported on Monday. The platform, which took three years to build, is 24 stories high, weighs more than 17,000 tons and has a platform the size of 15 basketball courts, according to state broadcaster CCTV. It has one of the world’s […]
According to Monday’s AAA gasoline report, gasoline prices in Michigan fell 10 cents from last week, continuing a decline in prices since last year. At $3.58 a gallon for regular unleaded gasoline, Michigan drivers are paying an average of 10 cents less than a week ago, 5 cents less than last month and 25 cents […]
Gas from the project will flow to Shell’s QCLNG liquefied natural gas (LNG) plant on Curtis Island near Gladstone to fulfil long-term contracts and supply domestic customers. This is part of an existing 27-year gas sales agreement between Arrow Energy and QGC. Phase 2 is expected to deliver approximately 22,400 barrels of oil equivalent per […]
