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 […]
China has discovered a large gas field in the South China Sea, a discovery that could significantly impact the region’s complex geopolitical landscape. This new discovery, described as the world’s first “ultra-shallow gas field in ultra-deep waters,” is said to contain more than 100 billion cubic meters of natural gas, according to Chinese state media. […]
(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 […]
(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 […]
Baghdad relies on profit sharing in new oil and gas contracts BAGHDAD, August 15 (Reuters) – Iraq is making the biggest changes in its relationship with global oil companies in decades, sources said Thursday, in a bid to attract more money to the country’s hydrocarbon sector and share in the profits from the development of […]
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 […]
ADNOC Gas, a world-class integrated gas processor, and its subsidiaries today announced strong financial results for the second quarter (Q2) of 2024, reporting adjusted net profit of US$1.190 billion, an improvement of 21% year-on-year. Second-quarter revenues increased 13% year-on-year to $6.076 billion. In the UAE, population growth and industrial growth contributed to higher revenues in […]
One of the policy areas in which the Labour Party has been particularly active in this election campaign is its stance on oil and gas exploration in the North Sea. The party has made it clear that it will increase existing special taxes. first opened North Sea oil and gas producers in 2022 by Rishi […]
