Companies

The government of Mozambique may not agree with the latest estimate for an LNG project led by TotalEnergies, which said earlier this week the price tag for the facility had gone up by $4.5 billion. The French supermajor attributed the cost increase to the four years, during which work on …

Liquefied natural gas has once again become trendy. After several years under attack from environmentalists, even the EU has accepted that natural gas, in whatever form it can get it, is going to stay in the energy mix for quite a while yet. The U.S. is building new export capacity …

Back in 2009, British oil and gas giant BP along with its then-Chinese partner China National Petroleum Corporation secured a technical services contract with Iraq’s state-owned South Oil Company to develop Iraq’s largest oil field – Rumaila – in the first such foreign exploration on the country’s energy sector in …

TotalEnergies and its partners are close to restarting construction and engineering work on the huge $20-billion LNG export facility in Mozambique after the companies lifted the four-year-long force majeure on the project. The French supermajor and its joint venture partners lifted the force majeure in a notice sent to the …

France’s TotalEnergies said Saturday the consortium it leads to build a USD 20-billion liquified natural gas project in Mozambique has decided to lift a suspension on the work imposed in 2021 because of jihadist violence. TotalEnergies said in a statement the “force majeure” halt to the Mozambique LNG project would …

Algerian state energy firm Sonatrach resumed oil and gas exploration drilling in Libya in mid-October, Libya’s National Oil Corporation (NOC) said on Thursday, as several international majors have restarted work in Libya’s oil and gas basins. Algeria’s Sonatrach is drilling an exploration well in the Ghadames basin close to the …

A joint venture between BP and Japan’s JERA has decided to pull the plug on a major offshore wind project in the United States, citing soaring costs and a change in federal policies. JERA Nex BP said inflation had also motivated its decision, which would see its U.S. workforce laid …

Chevron has requested to submit an opinion about a possible delay in the start-up of Venture Global’s second LNG plant, as the supermajor worries any delay would interfere with its delivery plans under a long-term contract with Venture Global. Venture Global has requested regulatory authorities to postpone the official commissioning …

The members of the OPEC+ group boosted their production in September by 630,000 barrels per day (bpd) from August as the alliance last month completed the unwinding of 2.2 million bpd cuts that began in April this year. Total OPEC+ crude oil production averaged 43.05 million barrels per day (bpd) …

Saudi Aramco can sustain its oil production at its maximum capacity of 12 million barrels per day (bpd) for a year without additional investments, Amin Nasser, the chief executive of the Saudi state oil giant said at the Energy Intelligence Forum in London on Monday. Concerns have emerged among analysts …