Norway’s gas exports have soared so far this year. So much so that they are on track to break historic records, with pipeline deliveries to Europe up 10% year-on-year. This year’s increase follows the lull in 2023 and makes Norway Europe’s leading gas supplier after Russian exports fell following the invasion of Ukraine. Gassco, Norway’s […]
To strengthen energy security, New Zealand intends to pass a law by the end of 2024 to lift the ban on offshore oil and gas production that has been in place since 2018, the government said on Monday. The Cabinet has committed to taking urgent action to lift the ban and, as a stopgap measure, […]
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 […]
New Zealand wants to enforce law to lift ban on oil and gas production 26 August (Reuters) – New Zealand said on Monday it would pass legislation by the end of the year to lift a ban on offshore oil and gas production and take urgent steps to remove regulatory hurdles to importing liquefied natural […]
(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. […]
Europe faces a tighter gas market as Norwegian field operators enter the scheduled maintenance season. Any unplanned extension of the maintenance period would cause an imbalance in the continent’s gas markets and lead to price increases, Bloomberg said. reported. “Europe is already struggling,” Florence Schmit, a European energy strategist at Rabobank, told the publication. “Any […]
(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 […]
SINGAPORE, 22 April 2024 /PRNewswire/ — In a groundbreaking development for the global energy sector, two Chinese companies have joined forces to sign a historic agreement to promote cooperation in the liquefied natural gas (LNG) industry. This strategic pact represents a significant step forward for China’s energy landscape and underlines the country’s commitment to diversify […]
Over the past two years, Europe has rapidly distanced itself from Russian energy commodities in protest against Russia’s war in Ukraine. The European Union first imposed an embargo on imports of crude oil from Russia in December 2022, followed by an embargo on oil products (including gasoline and diesel) in February 2023. In the meantime […]
The volume of daily natural gas production in the Sakarya gas field on the Black Sea has reached 6 million cubic meters (million m³), Energy and Natural Resources Minister Alparslan Bayraktar said on Saturday. Speaking at the meeting of the advisory board of the ruling Justice and Development Party (AK Party) in Zonguldak province, Bayraktar […]
