Tension over giant turbines that Moscow blames for the reduction of flows via the Nord Stream 1 gas pipeline has put the focus on the equipment it needs to operate.The crucial part is a Siemens Energy turbine that is 12 meters long, weighs 20 tonnes…
Gas production in the United Kingdom rose 26% in the first half of this year compared to the same period last year, an industry body said on Wednesday, as Britain cuts Russian energy imports in response to Moscow's invasion of Ukraine.The 3…
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects, including some in the remote iceberg waters far off Canada's Atlantic coast.Surging oil prices are encouraging the investments…
Offshore drilling company Valaris said Thursday it had secured new drilling rig contracts and contract extensions, worth $149 million in total. The contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements…
Japanese trading houses Mitsui & Co and Mitsubishi Corp have cut the value of their stakes in the Sakhalin-2 liquefied natural gas (LNG) project in Russia by 217.7 billion yen ($1.66 billion) following Moscow's move to seize control of the project…
Russia forecasts its average export gas price will more than double this year to $730 per 1,000 cubic meters before gradually falling until the end of 2025, as pipeline gas exports decrease, an economy ministry forecast seen by Reuters showed…
Exports of Mexico's newest crude are ramping up under Italy's Eni as U.S. refiners find it an apt replacement for banned Russian oil and one that complements domestic grades. The shipments, which started in April according to Refinitiv Eikon data…
Top U.S. Gulf of Mexico oil producer Shell said on Thursday it halted production at three U.S. Gulf of Mexico deepwater platforms after a leak shut two pipelines connecting the platforms, adding it expected pipeline service to resume on Friday…
The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.The U.S. pair, along with UK-based Shell and France's TotalEnergies…
Oil major Shell said it had halted production at three of its U.S. Gulf of Mexico deep-water platforms after pipelines connecting the three were shut.Shell, the leading operator in the U.S. Gulf of Mexico, said Mars, Ursa, and Olympus platforms have been shut-in…
A damaged oil pipeline component that disrupted output at several offshore U.S. Gulf of Mexico platforms was repaired late Friday, a Louisiana official said, with producers moving to reactivate some of the halted production.A failed flange connecting…
Equinor and Wintershall Dea will jointly develop carbon capture and storage projects, the oil firms said on Tuesday, with ideas to build a pipeline from Germany to Norway to transport and store carbon dioxide (CO2) under the North Sea.The firms…
Senegal's Sangomar oil project is 60 percent complete, and a first barrel is expected in the second half of 2023, Woodside Executive Vice-President for International Operations Shiva McMahon said at a conference in Senegal on Thursday. Australia's…
Crews were expected to replace a damaged oil pipeline piece by the end of the day on Friday, a Louisiana port official said, allowing for the resumption of production at seven offshore U.S. Gulf of Mexico oil platforms.A failed flange connecting…
Shell on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading.The company also announced a share buyback program of $6 billion for the current quarter…
Subscribe
