Tag Archives: Rigzone

Gas supplies to Europe are holding firm despite ongoing troubles at the Nord Stream 1 pipeline, leaving the market in equilibrium, albeit temporarily. That’s according to Rystad Energy analyst Lu Ming Pang, who made the statement in a market note sent to Rigzone late Wednesday. The Rystad analyst outlined in …

Qatar Energy, the world’s biggest producer of liquefied natural gas, has joined a group of oil and gas companies aiming to cut almost all methane emissions from their operations by 2030. The Qatari company has signed up to the Aiming for Zero Methane Emissions Initiative, which was founded in March …

Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by …

The Norwegian Petroleum Directorate (NPD) has announced a minor gas discovery southwest of the Skarv field in the Norwegian Sea at wildcat well 6507/4-3 S. Preliminary estimates indicate the size of the discovery, which is operated by ConocoPhillips Skandinavia AS, is less than 0.1 million standard cubic meters of recoverable …

Oil demand growth is set to slow in the coming months, with consumers likely to endure high prices until consumption is brought back into line with supply that’s struggling to keep pace with the world’s thirst for fuels. The International Energy Agency, the US Energy Information Administration and the Organization …

Saudi Arabia will provide some Chinese buyers with less crude than they asked for next month, while fulfilling requests from many other customers in Asia after OPEC+ pledged to speed up production hikes. Japan, South Korea, Thailand, and India will get the oil volumes they had sought, with some even …

Saudi Arabia’s foreign minister said there’s nothing more the kingdom can do to tame oil markets, implying that the world’s biggest crude exporter has no plan to accelerate its gradual production increases. “As far as we are aware there is no shortfall of oil,” Prince Faisal bin Farhan said, speaking …

Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. The shift in procedure follows a demand by Vladimir Putin in March that foreign buyers open ruble and foreign-currency accounts at the …

French energy major TotalEnergies has started construction of the Eolmed project, operated by Qair and in which TotalEnergies has a 20 percent stake. This 30 MW project is located some 12 miles off the coast of Gruissan and Port la Nouvelle. The start of production is expected by 2024. The …

China, the world’s biggest importer of liquefied natural gas, is trying to sell some spare supply due to fears that demand-sapping virus lockdowns could spread from Shanghai to other parts of the country. Major buyers, including Cnooc Ltd., are offering at least five shipments for summer delivery on the spot …