Energy News

 

Jordan inks deal for Egyptian FSRU

Dec 02, 2024

Egypt and Jordan have signed an agreement to allow Jordan to use an Egyptian floating storage and regasification unit (FSRU) until 2026, Jordan's energy ministry said.The FSRU will help Jordan secure LNG supplies in case of emergencies ahead…

Oil Slips as U.S. Gasoline Stocks Surprise

Nov 27, 2024

Oil prices edged lower on Wednesday as a large, surprise build in U.S. gasoline stocks outweighed easing supply concerns from a ceasefire deal between Israel and Hezbollah.Brent crude futures fell 12 cents, or 0.2%, to $723.69 a barrel by 10:40 a…

Improved Catalyst Could Aid Fuel Production

Nov 26, 2024

A chemical reaction can convert methane and CO2 into valuable building blocks for cleaner fuels and feedstocks, but the high temperature required for the reaction also deactivates the catalyst. A team led by the Department of Energy’s Oak Ridge…

Woodside: LNG Market to Grow by 50% in Next Decade

Nov 26, 2024

Australia's Woodside Energy WDS.AX expects the global market for liquefied natural gas (LNG) to grow by 50% in the coming decade, its CEO said on Tuesday.'Over the last decade the LNG market grew by 50%. We anticipate it will grow by another 50% in the coming decade…

Makin' a List ... Trump Prioritizes Energy Exploration, Production, Export

Nov 25, 2024

Donald Trump's transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would approve export permits for new liquefied natural gas (LNG) projects and increase oil drilling off the U…

Uncertainty Surrounds Guyana Gas Development

Nov 25, 2024

Doubts are growing over Guyana's pick of a little-known U.S. startup to craft and develop projects to monetize its vast untapped natural gas resources that could cost up to $30 billion. Year-old Fulcrum LNG faces financing hurdles that could derail its selection…

Mooreast Appoints Ellingsen as CEO

Nov 25, 2024

Mooreast Holdings Ltd. announced today it will appoint Mr Eirik Ellingsen, a Norwegian with deep experience in the offshore and marine sector, as Chief Executive Officer (“CEO”) amid growing adoption of floating wind energy projects worldwide…

Oil Edges to 2-Week High on Ukraine News

Nov 22, 2024

Oil prices edged up about 1% to a two-week high on Friday as the intensifying war in Ukraine this week boosted the market's geopolitical risk premium.Brent futures rose 66 cents, or 0.9%, to $74.89 a barrel by 11:39 a.m. EST (1639 GMT), while U…

US Judge Proposes CITGO Auction Solution

Nov 20, 2024

The U.S. judge overseeing an auction of shares in a Citgo Petroleum parent to pay Venezuela-linked creditors on Wednesday proposed major procedural changes to advance a case stalled by wide opposition and lawsuits by creditors in other courts…

EIA: US Crude, Gasoline Inventories Rise

Nov 20, 2024

U.S. crude oil and gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday.Crude inventories rose by 545,000 barrels to 430…

Norway's O&G Production Beats Expectations

Nov 20, 2024

The Norwegian Offshore Directorate said that Norway's oil and gas production in October exceeded the official forecast by 5 percent.Norway is Europe's biggest supplier of natural gases and oil. However, output can vary from month to months depending…

Shipping, Energy Tax Could Help Foot $1T to Combat Climate Change - COP29

Nov 19, 2024

The COP29 climate talks in Azerbaijan aim to agree an annual finance target of $1 trillion or more a year to help poorer countries respond to global warming. Some see new taxes as one way to get there.  The Global Solidarity Levies Task Force (GSLT)…

Elliott Affiliate's Citgo Bid to be Challenged

Nov 18, 2024

Companies seeking to claim proceeds from a court auction of shares in a parent of Venezuela-owned Citgo Petroleum are pressing a U.S. court to lift an exclusivity deal with an affiliate of Elliott Investment Management, which could pave the way for at least two new bids…

Euro Oil Giants Rethink Renewable Balance

Nov 18, 2024

Almost five years ago, BP embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals…

UK Approves Five Subsea Power Cable Projects

Nov 12, 2024

UK energy regulator Ofgem on Tuesday approved five new undersea energy links which it said would further harness the vast potential of North Sea wind and help to power millions of homes.The approved projects include the Tarchon Energy Interconnector with a capacity of 1…

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