South African court cancels Eskom's permission to build new gas-powered plant
A top court in South Africa on Wednesday revoked a government permit that allowed state utility Eskom build a large natural gas-burning power plant, claiming there was not a proper consultation with the public. The government is planning to build a 3,000-megawatt plant on the east coast in the port city of Richards…
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added natural gas and oil rigs this week for the second consecutive week for the first since April. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending September 12. Baker Hughes reported that oil rigs increased by two this week to 416…
US energy chief: EU could stop buying Russian gas in a year
Chris Wright, the U.S. Energy Secretary, said on Friday that the European Union can replace Russian gas with U.S. Liquefied Natural Gas within 6-12 months. The United States has communicated its position to EU officials in this week. Wright spoke in Brussels on Thursday, when he met EU Energy Commissioner Dan Jorgensen. The U.S.
US energy chief: EU could stop buying Russian gas in a year
Chris Wright, the U.S. Energy Secretary, said on Friday that the European Union can replace Russian gas with U.S. Liquefied Natural Gas within 6-12 months. The United States has communicated its position to EU officials in this week. Wright spoke in Brussels on Thursday, when he met with EU Energy Commissioner Dan Jorgensen to discuss the end of Europe's purchase of Russian energy.
Interior secretary: US wants to strengthen energy ties with Greece
Interior Secretary Doug Burgum told reporters in Athens that the U.S. is looking to strengthen its energy relations with Greece. This comes as the Trump Administration works to reduce Russia's gas and oil supplies to Europe. Burgum was in Europe this past week to sign energy deals that the U.S. believes will increase its influence in Europe while reducing Russia's.
US Looks to Expand Energy Ties with Greece
The United States wants to expand its energy ties with Greece, U.S. Interior Secretary Doug Burgum said during a visit to Athens on Thursday, as the Trump administration works to further reduce Russia's oil and gas supplies to Europe.Burgum has been in Europe this week aiming to seal energy supply deals, which the U.S.
After US pressure, the EU is considering a faster Russian gas and oil exit.
Ursula von der Leyen, the head of the European Commission, said that new sanctions would include a quicker phase-out of Russian fuels. This comes after U.S. demands to stop buying Russian crude oil. EU officials are currently in Washington, DC to discuss the coordination of further sanctions against Russia. The EU and U.S.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 7 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since seven weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending September 5. Baker Hughes reported that despite this week's increase in rig count…
Official: Syria exports its first crude oil shipment for 14 years
A Syrian energy official said that Syria exported 600,000. barrels of heavy oil from Tartus on Monday as part of an agreement with a trading company. This was the first official export of Syrian crude oil in over 14 years. In 2010, Syria exported 380,000 barrels per day of crude oil. This was a year prior to the protests against Bashar Al-Assad…
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending August 29 to 536, the lowest level since August 2021. Baker…
Trump's options for easing Russia sanctions are limited in comparison to Europe
Donald Trump, the U.S. president, could lift some sanctions against Russia quickly as a way to reward Moscow for successful peace talks with Ukraine. However only Europe can make the larger steps necessary to ease Russia's cash crisis. Trump has threatened to impose additional sanctions and tariffs against Russia…
CNOOC's first-half profits fall 13% due to lower oil prices
CNOOC, the Chinese offshore oil-and-gas major, reported a 13% drop in its interim net income as lower oil prices countered the impact of record oil and natural gas production. According to a Hong Kong Stock Exchange filing, the net profit attributable equity shareholders fell to 69.5 billion Yuan ($9.7billion) following a record-breaking interim profit in 2024.
PetroChina's H1 profits down 5.4% from the previous record
PetroChina, China's largest gas and oil company, reported a 5.4% drop in its first-half net profit compared to a record set a year ago, due to lower oil prices. According to a filing at the Hong Kong Stock Exchange, the net profit was 84 billion Yuan ($11.7billion), down from the 88.8billion yuan of the same period in last year. Revenues fell 6.7%, to 1.45trillion yuan.
Baker Hughes: US drillers have cut oil and gas rigs four times in the last five weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the fourth consecutive week. The number of oil and gas drilling rigs, a leading indicator of future production, dropped by one in the week ending August 22 to 538, the lowest level since mid-July.
Baker Hughes: US drillers have cut oil and gas rigs four times in the last five weeks.
Baker Hughes, a leading energy services company, said that the U.S. firms cut back on the number of natural gas and oil rigs for the fourth consecutive week in its widely read report. The number of oil and natural gas rigs, a good indicator of future production, dropped by one in the week ending August 22. This is the lowest level since mid-July.
Baker Hughes reports that the US oil and gas rig counts are stable this week.
Baker Hughes, a leading energy services company, said that the U.S. energy companies this week kept the number of oil rigs and natural gas rigs at a constant level. The number of oil and gas drilling rigs, which is a good indicator of future production, was 539 during the week ending August 15. Baker Hughes reported…
Baker Hughes reports that the US oil and gas rig counts are stable this week.
Baker Hughes, a leading energy services company, said that the U.S. firms held steady this week on the number of natural gas and oil rigs. The oil and natural gas rig count - an early indicator of future production - remained at 539 during the week ending August 15. Baker Hughes reported that oil rigs increased by one this week to 412, while gas-rigs decreased by one to 122.
Baker Hughes reports that US drillers have cut their oil and gas rigs in the US for a third consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for a third consecutive week. The number of oil and gas rigs, a good indicator of future production, dropped by one in the week ending August 8 to 539. Baker Hughes reported that oil rigs increased by one this week to 411…
Baker Hughes reports that US drillers have cut their oil and gas rigs in the US for a third consecutive week.
Baker Hughes, a leading energy services company in the United States, said that U.S. firms have cut back on oil and gas rigs for a third consecutive week. The number of oil and natural gas rigs, a good indicator of future production, dropped by one in the week ending August 8th. Baker Hughes reported that oil rigs increased by one this week to 411…
TotalEnergies sold 45% of its oil and gas blocks in Argentina to YPF at $500 million
TotalEnergies announced on Wednesday that Total Austral, its affiliate company, had agreed to sell 45% of its interest in two unconventional gas and oil blocks to YPF Argentina. TotalEnergies announced that the deal was valued at $500m. It represents 20% of TotalEnergies' acreage within Argentina's Vaca Muerta shale, which is the second largest unconventional gas reserve in the world.