Tag Archives: Rigzone

Twenty percent or 12.7 billion cubic meters (448.5 billion cubic feet) of natural gas imported into the European Union in the third quarter came from Russia, up two percentage points from the previous quarter and five percentage points against the third quarter of 2023, the European Commission has reported. The …

A EUR 4.06 billion ($4.24 billion) direct grant by the German government for four gas storage and regasification units (FSRUs) has received state aid rules clearance from the European Commission. Germany chartered the FSRUs December 2022 and created Deutsche Energy Terminal GmbH (DET) to manage the liquefied natural gas (LNG) …

The European Union boosted imports of Russian liquefied natural gas against the backdrop of deepening tensions over pipeline supplies that flow through Ukraine. The bloc purchased a record amount of Russian LNG this year, according to ship-tracking data compiled by Bloomberg. Among top byers, France has already hit its highest-ever …

TotalEnergies SE has agreed to sell 50 percent of its ownership in West Burton Energy to EPUK Investments Ltd. (EPUKI), the UK division of Energeticky a prumyslovy holding (EPH). TotalEnergies recalled in a media release that it had purchased West Burton Energy with the plan to resell half. West Burton …

Exxon Mobil Corp. will raise capital spending next year as it adds the $60 billion purchase of Pioneer Natural Resources Co. to oil-production plans, threatening to worsen next year’s expected crude glut. Exxon plans to spend between $27 billion and $29 billion of cash in 2025, North America’s largest energy …

Shell PLC has committed to buy three million tons per annum (MMtpa) of liquefied natural gas (LNG) from QatarEnergy for the British energy giant’s activities in China. Delivery under the long-term deal will start January 2025, QatarEnergy said in an online statement, not specifying the duration of the agreement. “This …

Earth-warming emissions by European Union economies fell by an aggregate 8.3 percent in 2023 compared to 2022, helped by growth in renewable power production, the European Commission reported Thursday. Last year marks the second-biggest annual drop in EU greenhouse gas emissions in decades, after 2020, when the coronavirus pandemic drove …

Even if supply from Russia via Ukraine ends, the European Union can still meet its natural gas needs in next year’s winter by utilizing the bloc’s storage facilities and rolling back consumption before the peak season, according to a new industry analysis. The transit contract between the two warring countries …

Oil posted its biggest weekly drop in 11 months as a weak US jobs report added to concerns about tepid demand in the world’s largest consumer of crude. West Texas Intermediate fell 2.1% to settle at $67.67 a barrel, cementing the biggest weekly plunge since October 2023. While the US …

Saudi Arabian Oil Co. (Aramco) is partnering with a Saudi-based research university and investing millions of dollars in future projects. The national oil company signed a memorandum of understanding (MoU) with King Abdullah University of Science and Technology (KAUST) to support research that aims to deliver environmental and commercial benefits, …