UK energy prices rise 10% due to extreme weather and geopolitics
The British energy regulator Ofgem raised the price cap for household energy bills on Friday by 10%, from October 1, to a level of 2,250.64 pounds per year. This increase was blamed on extreme weather conditions and conflicts like the war in Ukraine. Brearley stated that the increase in price cap will be difficult for many families.
X-Press Feeders to Use Green Methanol in Q2 2024
Singapore-based container shipper X-Press Feeders plans to use green methanol bunker to fuel part of its fleet in Europe in the second quarter of 2024, a senior executive said on Tuesday.The move comes as the European Union will extend its Emissions Trading System (ETS) next year to cover carbon dioxide emissions for all ships of 5…
Lebanon Delays Petrol Tender
Lebanon's energy ministry delayed a fuel tender by one week on Monday to allow for more competition as it seeks to stave off supply shortages during the worst economic crisis in decades.The ministry is trialing a state tender for 150,000 tonnes of 95 octane gasoline and has received offers from two companies.The tender…
Singapore LNG and YTL PowerSeraya Appoint New CEOs
Singapore-based energy company YTL PowerSeraya and LNG terminal operator Singapore LNG Corp (SLNG) announced that they have appointed new chief executive officers (CEOs).YTL PowerSeraya said that han Swee Huat has decided to step down as CEO of the Group with effect from 15 January 2019.
First Gas from Cuadrilla Fracking Site in Britain
The energy company Cuadrilla Resources has produced first gas from its fracking site in Lancashire in northwest England, after it began fracking operations there just over two weeks ago.The energy company said it has started to see natural gas flow at the Preston New Road exploration well.
Britain's Cuadrilla Extracts First Shale Gas at English Fracking Site
Cuadrilla extracted its first shale gas from its site in northwest England, it said on Friday, after it began fracking operations there just over two weeks ago.Cuadrilla said the gas flows were small but coming at such an early stage of the project were evidence of the potential of…
Pope Warns Energy Bosses of Global Destruction without Fuel Shift
Pope Francis warned that climate change risked destroying humanity on Saturday and called on energy leaders to help the world to convert to clean fuels to avert catastrophe."Civilisation requires energy but energy use must not destroy civilisation," the pope told top oil company executives…
Pope to Address Oil Majors in Vatican Climate Conference
The Vatican will host executives of the world's top oil companies for a conference next week on climate change and the transition away from fossil fuels, a Vatican source said on Friday.Pope Francis, who wrote a major document on protection of the environment from global warming in 2015…
Trump's State Department Energy nominee Approved by Senate Panel
President Donald Trump's nominee for the top U.S. State Department job dealing with matters related to energy and the global oil industry was approved by a Senate committee on Wednesday, as the United States gears up to re-impose sanctions on Iran's oil exports. The Senate Foreign Relations Committee approved Francis Fannon…
Trump Nominee for Key U.S. Energy Post Would Oppose Russia Pipeline
U.S. President Donald Trump's nominee for a top State Department energy position said on Thursday he would oppose Russia's proposed natural gas pipeline under the Baltic Sea to Germany - the Nord Stream 2. "The United States' position, it is my understanding, is to strongly oppose that pipeline…
Lebanon Vows to Protect Maritime Borders from Israel
Lebanon vowed to protect its maritime borders from Israeli threats, Energy Minister Cesar Abi Khalil said on Wednesday. "Lebanon will use all available methods to fend off the Israeli aggression that was announced today," he said in televised comments. Israel described as "very provocative"…
$500 Mln Loan Approved for TANAP Gas Pipeline Project
The board of the European Bank for Reconstruction and Development (EBRD) has approved a $500 million loan for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe. The so-called Southern Gas Corridor is expected…
Danos Acquires Construction Assets in West Texas
Danos has acquired the civil construction assets and transitioned several skilled craftsman from Renegade Backhoe Services (RBS), located in Levelland, Texas. With this acquisition, Danos takes over RBS’ fleet of backhoes, heavy-haul trailers, dump trucks and associated construction services equipment.
Lebanon Passes Oil Tax Law
Lebanon made progress in its efforts to develop a hydrocarbons industry on Tuesday when lawmakers passed a petroleum tax law, as companies prepare to bid on a first round of offshore exploration licences next month. Earlier this month, Energy Minister Cesar Abi Khalil extended by…
Lebanese Oil Production Slated to Start in 2018
Lebanon expects to start oil production in 2018 and will deposit the resulting revenues into a sovereign wealth fund, President Michel Aoun said on Tuesday. "Everything that is extracted will be for the Lebanese people," he said during a meeting with a press syndicate delegation.
Swiber Wins $100 Mln Contract for NOC
Swiber Holdings Limited, provider of integrated offshore construction and marine support and engineering services to the oil and gas industry, informs it has secured a contract worth about $100 million to provide engineering, procurement, installation and construction services for a National Oil Company (NOC) in South Asia.
National Oilwell Varco Says Cut 6,000 Jobs in Q1
National Oilwell Varco Inc, the largest U.S. provider of oil drilling equipment, said on Thursday it slashed 6,000 jobs in the first quarter as weak oil prices forced its customers to cut production and exploration. The company received no new rig orders for the second quarter in a row in the three months ended March 31…
France Counters Union Action with Strategic oil Reserves
France has started using its strategic oil reserves to counter union blockades of its refineries, the French oil industry federation said on Wednesday. "Yes, a small quantity of the stock has been drawn. It was authorised by the government, only the government can authorise it," UFIP spokeswoman Catherine Enck said.
French Fuel Consumption Jumps 16% Due to Strikes
French fuel consumption rose exceptionally in the month of May by 16.6 percent to 4.6 million cubic meter compared with the same month the previous year due to rolling nationwide strikes in the oil sector, industry body UFIP said on Thursday. The strikes, called by hardline CGT trade union…
Refinery Fire Turns Deadly in Kansas
A worker has died due to injuries from a fire at HollyFrontier's El Dorado, Kansas refinery, a local hospital confirmed on Tuesday. A fire was reported at the 150,000 barrel-per-day refinery on Monday and a worker in the immediate area was hurt, the company confirmed via email on Monday.
