Japan Petroleum Exploration (Japex) is prioritizing investment in oil and gas exploration and production (E&P) through 2030 - revising an earlier plan to aggressively expand its renewables businesses, its president said.'For now, the investment…
The Cypriot government has approved the updated plan for the Aphrodite gas field, filed by Chevron-led consortium, which will see the construction of a floating production unit (FPU) and a pipeline for exporting gas to Egypt.Following Cypriot government’s approval of the plan…
Shell on Thursday reported a fourth-quarter profit of $3.66 billion, missing estimates, on lower refining margins and lower liquefied natural gas (LNG) trading, while saying it would buy back shares worth $3.5 billion.The oil major also announced a 4% increase in its dividend…
New Jersey officials on Monday said the state would not grant awards for new offshore wind contracts, a sign that U.S. President Donald Trump's order to review the federal offshore wind program is putting a chill on the industry.The announcement…
British Prime Minister Keir Starmer indicated he would not stand in the way of the Rosebank oil and gas field, after a court blocked it, sending the decision to the government which had pledged not to issue any new licences.Starmer's government…
Brazil's Petrobras wants to buy stakes in African oil assets, mainly in Angola, Namibia and South Africa, to boost its reserves as it expects output to fall after 2030, a senior executive said on Wednesday.The Brazilian state energy firm is in talks with companies…
French oil major TotalEnergies expects to take a final investment decision (FID) on its Namibian offshore oil discovery in 2026, CEO Patrick Pouyanne said on Wednesday at a press briefing.The development would have a production capacity of 150…
Shares in BP rose by 7% to their highest since August in early trade on Monday, after investor Elliott Management built a stake in the energy major it is expected to use to press for change in strategy and to the board.By 0901 GMT, the shares were up about 7% to 462…
U.S. oil production is expected to reach new heights in 2025, surpassing earlier projections, according to the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook. The EIA now forecasts U.S. crude oil production will average 13…
A Scottish court has invalidated Britain's approvals for two major North Sea oil and gas projects, delivering a significant victory to environmental groups and raising uncertainty over future fossil fuel developments in the UK.The Court of Session…
The world's imports of liquefied natural gas are set to jump to the highest in a year in January as Europe's winter demand draws cargoes away from top-consuming region Asia.A total of 38.12 million metric tons of the super-chilled fuel is on track to be imported in January…
French oil major TotalEnergies beat expectations for fourth-quarter earnings on Wednesday as higher trading profits in the gas market helped it offset some of the impact of low oil prices and weak fuel demand.Adjusted net income for the final three months of 2024 was $4…
Norway's Equinor is reducing its ambitions for developing renewable energy capacity by 2030, it said on Wednesday, the latest move by a European energy company to cut green targets as the market for renewables sours.Equinor follows peers BP and Shell…
Companies that once committed to investing in U.S. offshore wind infrastructure and supply chains are now scrapping their plans as the industry experiences significant challenges. These setbacks stem from project delays, soaring costs, and the…
Companies that committed to investments in U.S. offshore wind infrastructure and supply chains are scrapping their plans as the projects they were meant to serve face huge setbacks, including President Donald Trump's plan to end federal support…
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