Oil prices were little changed on Wednesday as investors monitored Red Sea developments, with some major shippers resuming passage through the area despite continued attacks and broader Middle East tensions. Brent crude futures dipped 5 cents, or 0.1 per cent, at $81.02 a barrel by 0415 GMT, while U.S. West …
Read More »Gazprom Says Connected nearly 900,000 Users to Network Gas in 2023
Gazprom PJSC has connected 842,000 new users to Russia’s natural gas infrastructure during 2023. The company said in a media release that in 2023 Russian residents have signed some 1.081 million contracts with national gas infrastructure expansion operator Gazprom Gazifikatsiya, regional gas infrastructure expansion operators and independent gas distribution entities …
Read More »Half of Russia’s 2023 Oil and Petroleum Exports Went to China
Half of Russia’s oil and petroleum exports in 2023 will have gone to China while India’s share has risen in two years to 40%, Russia’s state news agencies cited Deputy Prime Minister Alexander Novak as saying in remarks published on Wednesday. “The main partners in the current situation are China, …
Read More »TotalEnergies Invests Rs 2495 cr in Adani Energy Project
French energy giant TotalEnergies has invested Rs 2495.10 ($300 million) crore in a renewable energy joint venture (JV) with Adani Green Energy Limited (AGEL). In a statement, AGEL said it completed “1,050 MW joint venture (JV) with TotalEnergies. As part of the JV, TotalEnergies invested $300 million in AGEL subsidiary, …
Read More »China to Seek Rare Exemption from Sanctions on Russia’s Latest LNG Project
Chinese state energy giants plan to ask the United States for exemptions from the fresh sanctions on Russia’s Arctic LNG 2 project in a rare request to the U.S. as LNG deliveries could be threatened, Bloomberg reported on Friday, citing sources familiar with the issue. The U.S. imposed last month …
Read More »Will US LNG Exports Reroute to Avoid both the Panama and Suez Canals?
Liquefied natural gas cargoes recently loaded from the US and bound for Asia are changing course for longer voyages lasting more than a month as they avoid the Red Sea, according to ship-tracking data on Bloomberg. The diversions highlight a shift in global trade flows after Houthi attacks in the …
Read More »Equinor Sells Its Azerbaijan Assets to Socar
Equinor and SOCAR (State Oil Company of Azerbaijan Republic) have signed an agreement whereby Equinor will divest all its remaining assets in Azerbaijan to SOCAR. The assets comprise a 7.27% non-operated interest in the Azeri Chirag Gunashli (ACG) oil fields in the Azerbaijan sector of the Caspian Sea, 8.71% interest …
Read More »ADNOC Signs LNG Deal with Unit of China’s ENN
ADNOC has signed an agreement for the supply of LNG to ENN LNG (Singapore), a wholly owned subsidiary of China-based ENN Natural Gas. Under the 15-year heads of agreement, ADNOC will deliver at least 1mtpa of LNG to ENN LNG (Singapore). The LNG will be mainly sourced from ADNOC’s low-carbon …
Read More »U.S. Shatters Oil Production Records in 2023
The U.S. set a new annual oil production record on December 15, based on data from the Energy Information Administration. Although the official monthly numbers from the EIA won’t be released for a couple of months, we can calculate that a new record has been set based on the following …
Read More »Iran Expands Production Capacity in South Azadegan Oil Field
On Saturday, Iran decided to add 60 new wells to boost production capacity in the South Azadegan oil field, Iran’s largest field, shared with its neighbor Iraq. The head of the National Iranian Oil Company (NIOC), Mohsen Khojasteh-Mehr, announced the news, adding that the southern Azadegan field’s production capacity has …
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