Category: Oil & Gas

The United States gas is under threat as a trade war with China escalates. Stephen Stapczynski writes. China may target American liquefied natural gas in retaliation for a fresh round of duties announced Monday by the U.S. While the Asian nation last month said it was considering a 25% tariff on the fuel, it hadn’t…

CNOOC Limited announced today the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project has commenced production. Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project is located in south central Bohai Sea, 216 kilometers northwest from Tanggu and 80 kilometers southeast from Penglai city. The average water depth of the oilfield is 27 to 33 meters. The project…

The Nigerian National Petroleum Corporation (NNPC) said it was wrapping up funding arrangements on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project. Group Managing Director of NNPC, Dr. Maikanti Baru, who disclosed this while speaking at the Nigerian Day during the 30th edition of Gas Technology Conference in Barcelona, Spain, Tuesday, explained that tremendous progress was recorded…

By Irina Slav After API’s latest surprise inventory build pressured oil prices, the Energy Information Administration cheered the market up by refuting the build and reporting instead yet another weekly draw, of 2.1 million barrels for the week to September 14. Last week, the authority estimated crude oil inventories had fallen by another 5.3 million…

By Tsvetana Paraskova Brazil’s state-run oil firm Petrobras plans to shave another US$10 billion off its huge net debt and increase oil production by as much as 10 percent to 2.3 million bpd in 2019, chief financial officer Rafael Grisolia told Reuters in an interview published on Monday. Petrobras benefited from the rising oil prices…

Nigeria LNG CEO Tony Attah says timing is critical to the success of its planned Train 7 project, Craig Guthrie writes.   Nigeria LNG’s efforts to fund the expansion of its LNG export plant on Bonny Island will be a test of the company’s hard-won financial credibility and determination to distance itself from political interference. The depth…

By Ian Lewis Floating LNG developers are seeking to build on the momentum created by successful deployments The successful deployment of Golar LNG’s Hilli Episeyo floating liquefied natural gas (FLNG) facility off Cameroon gives hope that further investment can now be enticed to a sector that has suffered its fair share of teething problems. Hilli…

By Tsvetana Paraskova The United States welcomes competition from Russia on the global energy markets, but Russia can no longer use energy as an economic weapon, U.S. Secretary of Energy Rick Perry said on Thursday during his meeting with Russia’s Energy Minister Alexander Novak in Moscow. At the meeting, “Secretary Perry also expressed his disappointment…

Fresh sparring between Washington and Beijing over trade kept world stocks close to three-week lows on Wednesday, while a slight dollar pullback gave little respite to emerging markets, Indian rupee plumbied new record lows. Oil prices extended to 80 dollars a barrel as Hurricane Florence advanced and U.S. sanctions started weighing on Iran’s exports. Analyst…

By Julianne Geiger In what is largely seen as a win for the Libyan National Army’s (LNA) General Khalifa Haftar, the United States Treasury Department, in conjunction with the United Nations, slapped sanctions on Libyan militia strongman Ibrahim Jadhran over the June attacks on the country’s vital oil ports, according to a Wednesday afternoon press…