Companies

The Johan Castberg oilfield in the Barents Sea has reached full capacity of 220,000 barrels per day (bpd), operator Equinor said on Friday, noting that peak capacity has been reached just three months after the field in Norway’s Arctic waters came on stream. Seventeen of a total of 30 wells …

Shell expects to add 12 million tons of LNG capacity volumes by the end of the decade from projects currently under construction, a top executive at the world’s largest LNG trader said on Wednesday. “(There is) up to 12 million tons of additional (LNG) capacity that we’re adding between now …

Russian gas monopoly Gazprom increased its gas supplies to Europe via the TurkStream pipeline in May by 10.3% compared to April, from 41.7 million to 46 million cubic meters per day, Reuters reported on June 2. After the cessation of supplies through the Yamal-Europe pipeline and Nord Stream, and the …

OMV AG has made a final investment decision to proceed with the construction of an electrolysis facility in Bruck an der Leitha, Lower Austria. The 140-MW electrolyzer – a facility that splits water molecules into hydrogen and oxygen through electricity – is planned to produce up to 23,000 metric tons …

Saudi Aramco, the world’s biggest oil firm, is expected to price later on Tuesday a three-part bond in U.S. dollars as a campaign to raise funds, IFR news service reports. The bond sale is set to be benchmark-sized, which typically means the issue would be of at least $500 million. …

Saudi Aramco is reportedly exploring asset sales as a means of increasing the availability of funds to fuel its international expansion and existing operations, according to unnamed sources who spoke to Reuters. The sources told the publication that the Saudi state major had asked investment banks to come up with …

Saudi state oil giant Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter said, as it pursues an international expansion and weathers lower crude prices. Aramco is the world’s largest oil-producing company and the main source of Saudi state revenue. The firm …

Venezuela’s state-run oil firm PDVSA is taking over crude shipments once managed by Chevron as sanctions drama and payment disputes derail the fragile oil détente between Washington and Caracas. PDVSA just shipped a 920,000-barrel cargo of heavy Boscan crude—previously exported exclusively by Chevron—out of Venezuela bound for Malaysia, a known …

Eni has started gas production from the Merakes East field, in the Kutei basin, offshore Indonesia. The field is in the East Sepinggan block (Eni 85%, Op.) and will contribute up to 100 MMscfd of gas or approx. 18,000 boed to Eni’s production. Merakes East is located in a water …

The race has been on between the world’s leading powers to secure as much of the globe’s current and future liquefied natural gas (LNG) supplies ever since Russia invaded Ukraine on 24 February 2022. Oil and gas prices started to rise quickly from that point, driving inflation higher across the …