India’s $100 billion drilling push targets deepwater and frontier oil resources
(Bloomberg) – India’s efforts to expand oil drilling to previously restricted areas could help attract investments worth $100 billion by the end of the decade, Prime Minister Narendra Modi said…
Lukoil Asks Moscow for Aid as Oil Sells at Steep Discounts
Lukoil has approached the Russian government seeking changes to the oil tax formula as discounts on Russian crude exceed $20 per barrel, a level that would force producers to make…
U.S. Natural Gas Prices Hit $6 For First Time Since 2022 amid Big Freeze
U.S. natural gas prices on Monday extended their remarkable 70% rally from last week as the big freeze pushes heating and power demand to winter records. Early on Monday, the…
Chevron-led Venture Makes Oil Discovery Offshore Nigeria
A joint venture operated by U.S. supermajor Chevron has made an oil and gas discovery offshore Nigeria as international majors bolster exploration amid the top African producer’s efforts to boost…
Russia’s Arctic LNG Defies Sanctions as China Keeps the Gas Flowing
Russia and China seem unfazed by the U.S. and European sanctions on Russia’s Arctic LNG 2 project as deliveries continue into the new year. The Chinese Beihai LNG terminal has…
Kazakhstan’s Tengiz Oilfield Comes Back Online Following Power Plant Fire
The Chevron-led consortium operating the giant Tengiz oilfield in Kazakhstan has resumed production at the site following a fire on January 18 that forced a temporary shutdown. “Tengizchevroil confirms…
Sanctions and Strikes Squeeze Russia’s Fuel Oil Flows to Asia
Russia’s fuel oil exports to Asia are set for a third consecutive month of declines in January as the U.S. sanctions deter buyers and Ukrainian attacks on Russian oil infrastructure…
UK and Europe ports agree to study CCS, shipping and infrastructure
UK and European ports are to study the potential of carbon capture and storage shipping corridors between the UK and continental Europe. Two memoranda of understanding have been signed involving…
India Bets on Cheaper LNG
India is in no hurry to sign long-term LNG delivery deals as the country’s price-sensitive buyers stall talks and wait for the coming supply glut to pressure sellers into agreeing…
European Countries Pledge 100 GW of Interconnected Wind Capacity
A dozen European countries made a pledge today to build 100 GW of new wind power capacity as a means of reducing the consumption of oil and gas. For the…
