U.S. Gulf of Mexico-focused oil and gas company LLOG Exploration said Tuesday it had recently kicked off production from its Spruance field, located offshore Louisiana.The two-well subsea development is located in Ewing Bank (“EW”) Blocks 877 and 921 in the U…
Global energy consumption rose by 5.8% in 2021, exceeding pre-pandemic levels as economies revved up activity, while strong growth in renewable energies chipped away at fossil fuel use, according to a benchmark report by BP.Oil demand last year was 3…
Libya's National Oil Corporation (NOC) said on Monday it was considering declaring force majeure in the Gulf of Sirte area within 72 hours unless production and shipping resume at the oil terminals there.Mustafa Sanallah, chairman of the state oil firm…
France wants sanctions-hit Iran and Venezuela to return to the oil markets to alleviate a Russian squeeze of energy supplies that has spiked prices, a French presidency official said on Monday.It also wants a planned mechanism to cap the price…
Dutch and British wholesale gas prices mostly fell on Friday morning, correcting gains made the previous day after Germany triggered the second phase of its emergency gas plan.The benchmark Dutch wholesale gas contract for July delivery was down 4…
Oil spilled last week at Jadestone's Montara field offshore Australia, during crude oil transfer between two crude oil tanks onboard the Montara Venture FPSO, forcing the company to shut down production from the offshore fied.'During the transfer…
Five oil and gas companies in Norway, partners in the Troll and Oseberg fields in the North Sea, are looking to build a 1GW floating wind farm in the Troll area, with the plan to use the wind farm to power oil and gas installations. The final investment decision could be made in 2023…
BP paid $127.3 million in taxes and fees to the British government in 2021 for its oil and gas production in the North Sea, according to a company report.The figure compares with a net tax refund of $42.3 million the previous year, according…
Malaysian oil and gas company Petronas, via its subsidiary Petronas North Ketapang, has signed a Production Sharing Contract (PSC) for the North Ketapang Block located onshore and offshore East Java, Indonesia.Petronas won the North Ketapang…
Brazilian oil company Petrobras' management approved on Thursday the sale of its entire stake in the Golfinho and Camarupim deepwater oil fields for up to $75 million to Norway's BW Energy Ltd.The sale is part of Petrobras' strategy to divest assets and focus on more profitable operations…
The European Union and Norway agreed on Thursday to cooperate to bring more gas from western Europe's biggest producer to the EU's 27 countries, nearly half of which are now grappling with cuts to Russian gas supplies.Brussels said on Thursday that 12 EU member states are facing gas cuts…
The Philippines' outgoing foreign minister said on Thursday that talks over joint energy exploration between his country and China in the South China Sea had been terminated, citing constitutional constraints and issues of sovereignty.The two…
The British government is still 'fleshing out details' of a special tax on North Sea oil and gas producers announced last month, energy minister Kwasi Kwarteng told a conference on Thursday.Finance minister Rishi Sunak is due to meet with executives…
Europe's move away from Russian gas provides a ready and lucrative market for a vast project being developed in West Africa, Mauritania's oil minister said on Thursday.As Russia has reduced gas supplies to Europe and Europe seeks to limit its dependence on Russian gas…
Egypt's state-owned gas company and U.S.-based Chevron Corp on Monday signed a preliminary agreement to explore sending natural gas from offshore Mediterranean fields to Egypt for processing and export.The memorandum of understanding signed…