This latest discovery follows previous discoveries at Maka Central, Sapakara West, and Kwaskwasi announced in January, April, and July 2020, respectively. Total said on Thursday that the well was drilled by a water depth of about 725 meters and encountered a total of 63 meters net pay of hydrocarbons. This …

The prospect of severe U.S. sanctions led the consulting firm Rambøll to withdraw from Russia’s controversial natural gas project Nord Stream 2. In the last phase of the Nord Stream 2 project, the Rambøll consultancy eventually bowed to the threat of U.S. sanctions, Politiken reports. On the Nord Stream 2 …

The U.S. Energy Information Administration on Tuesday cut its 2021 world oil demand growth forecast by 220,000 barrels per day from its previous estimate. In its monthly forecast, U.S. Energy Information Administration says 2022 world oil demand to hit 101.08 million bpd, up 3.31 million bpd from 2021.

The U.S. State Department this month told European companies which it suspects are helping to build Russia’s Nord Stream 2 gas pipeline that they face the risk of sanctions as the outgoing Trump administration prepares a final round of punitive measures against the project, two sources said on Tuesday. “We …

Saudi Arabia slashed crude oil supplies to at least nine refiners in Asia and Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March. Aramco will supply less crude as part of long-term contracts next month, giving some Asian processors as …

Any attempt by U.S. shale and other oil producers to boost output this year will backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. Oil prices have surged in the past two months with the development of coronavirus vaccines. They jumped again last …

Total SE and Engie SA plan to build France’s largest green hydrogen facility to feed the oil company’s biodiesel plant in the south of the country from 2024, provided they get subsidies to make the project viable. Steelmakers and gasoline and biofuel producers currently make the hydrogen they need from …

Renewable energy, mostly solar and wind, are set to account for more than two-thirds of the new electricity generation capacity that the United States will install this year, the U.S. Energy Information Administration (EIA) said in its latest inventory of electricity generators on Monday. A total of 39.7 gigawatts (GW) …

U.S. crude production won’t bounce back in 2021 from last year’s fall, the Energy Information Administration forecast in its January Short-Term Energy Outlook released Tuesday. The EIA estimated that U.S. output will fall to 11.1 million barrels a day this year. Production dropped to 11.3 million barrels a day in …

Solar and wind will account for 70% of the nearly 40GW of new large-scale US electricity generating capacity that developers plan to bring into commercial operation in 2021, according to a preliminary estimate by the federal Energy Information Administration (EIA). Get the market insight you need into the global oil …