Tag Archives: Rigzone

Lukoil PJSC’s trading unit Litasco SA is launching a Mexico operation as the oil giant seeks new markets for Russian products under widespread sanction. Litasco hired oil products trader Yuri Carreno for its new office in Mexico City, according to people with knowledge of the situation. Carreno, who previously spent …

Turkey is attempting to broker a deal between the central Iraqi government and the semi-autonomous Kurdish administration over how to resume Iraqi crude-oil exports via its territory, according to Turkish officials. Turkey halted flows through a twin-pipeline in March after an arbitration court ordered it to pay about $1.5 billion …

The price of Russia’s flagship oil may have jumped above a Group of Seven imposed cap but that has done little to impede the provision of western services for the trade. The number of ships calling at the nation’s ports that are either western owned or insured has fallen slightly …

ADNOC Gas PLC has signed a five-year agreement with Japan Petroleum Exploration Co. Ltd. (JAPEX) for the supply of liquefied natural gas (LNG). The deal amounts to between $450 million and $550 million, Abu Dhabi National Oil Co.’s (ADNOC) integrated gas unit said in a press release last week, not …

Russia expects to get a huge inflow of energy revenue by the end of this year despite an oil price cap imposed by Group of Seven nations, and may channel it toward spending as the government continues to pour resources into the war in Ukraine. In the last five months …

QatarEnergy has signed a long-term condensate supply agreement with the Dubai-based ENOC Group, it said recently. Under the 10-year sales agreement, QatarEnergy will supply up to 120 million barrels of condensates to ENOC starting July. The deal was by QatarEnergy, for and on behalf of Qatar Petroleum for the Sale …

Shell Plc is exploring options for its global renewable power operations, including a potential stake sale to outside investors, people with knowledge of the matter said. The UK energy giant is working with advisers to study a range of possibilities that could also include separating the business into a more …

Shell Plc’s earnings from natural gas trading will be significantly lower in the second quarter, due to seasonal shifts in the market. Oil and gas production will also be down compared with the first three months of the year due to field maintenance, while the company’s chemicals business is expected …

The United Arab Emirates plans to invest as much as $54 billion on renewables over the next seven years as part of efforts to reach net zero emissions by 2050. The nation is targeting a threefold increase in the share of energy produced from renewable sources over the period and …

An unusually warm winter in the southern hemisphere is threatening to saddle Argentina with a glut of liquefied natural gas. Argentina is spending about $1.8 billion to import 44 LNG cargoes this year, with 20 already delivered and the remainder scheduled to arrive in the coming months. The mild weather …