Companies

UK energy supermajor Shell has projected that liquefied natural gas (LNG) will replace coal as a leading driver of Chinese and other Asian economies. According to the firm’s LNG Outlook published today, demand will rise by 50 percent by 2040 and global LNG trade will grow to around 625-685m tonnes …

Shareholders in Saudi Aramco will decide whether the world’s largest oil firm will proceed with a new share offering this year, Aramco’s chief executive Amin Nasser said on Monday, as carried by Reuters. Currently, the Kingdom of Saudi Arabia owns just over 98% of Aramco after selling 1.7% in the …

Russian gas giant Gazprom has been awarded the development contract for the supergiant Nasiriyah oil field in Iraq’s strategic southern eastern region close to the main export terminal of Al Fao in Basra. At around the same time, it was announced that China Petroleum Engineering and Construction Corp (CPECC) and …

Petronet LNG (PLL) and QatarEnergy (QE) recently announced the extension of their longstanding contract by 20 years at India Energy Week in Goa. According to Wood Mackenzie, the Sales and Purchase Agreement (SPA) extension between QE and PLL covers a total volume of 150 t over 20 years, making it …

Eni has started building a new high-performance computing (HPC) system, HPC6, aimed at appreciably boosting the computational power of HPC4 and HPC5 to over 600 PFlop/s, or 600 quadrillion mathematical operations per second. Their current power is 70 PFlop/s. Eni’s new HPC system, characterised by extraordinary computing power, thus marks …

QatarEnergy inked a 20-year deal with India’s Petronet for the supply of 7.5 million tons per annum (mtpa) of LNG to India, the Qatari company announced on Tuesday. As part of the deal, starting May 2028, QatarEnergy’s vast LNG fleet will deliver the contracted LNG volumes to Indian terminals, the …

Saudi Power Procurement Company (SPPC) has announced that a total of 21 top global utility project developers including Siemens, Samsung, GE, EDF, Korea’s Kepco and Marubeni as well as regional heavyweights Acwa Power and Taqa have been prequalified for development of four power plants across the kingdom with a total …

Eni SPA said it is awaiting government clearance to begin construction of its third biofuel production plant in Italy, proposed to rise in the port city of Livorno. “The project, first announced in October 2022 and followed by an application for Environmental Impact Assessment in November 2022, is awaiting official …

Saudi Arabia’s energy ministry instructed the oil giant to increase production to 13 million barrels per day on Tuesday. Saudi Arabia’s oil giant Saudi Aramco said on Tuesday that it will not try to increase its maximum daily oil production to 13 million barrels a day after receiving an order …

China National Offshore Oil Corporation (CNOOC) is targeting net production of 700 million to 720 million barrels of oil equivalent (MMboe) in 2024. The production will be divided into 69 percent for China and 31 percent for overseas accounts, the state-owned oil company said in a recent news release. CNOOC …