EUROPE GAS - Prices rise after Ukraine attacks on gas infrastructure and colder forecasts
Dutch and British gas rates rose on Monday morning, as colder weather forecasts increased demand for heating. Worries over Russian attacks against Ukrainian gas production may also have contributed to the increase. LSEG data shows that the benchmark Dutch front-month contract was 32.70 euros per Megawatt Hour (MWh) or $11.19/mmBtu at 0935 GMT. This is an increase of 1.32 euros.
Russell: ADNOC must offer more than just money to make the Santos deal work.
Abu Dhabi National Oil Company's (ADNOC) $18.7billion bid for Australian liquefied gas producer Santos faces a much higher hurdle than the money offered. The politics surrounding the deal, which would represent Australia's biggest-ever cash takeover in history, are becoming increasingly difficult to overcome. ADNOC, Australia's second largest oil and gas company launched its bid in June…
Russell: ADNOC must offer more than just money to make the Santos deal work.
Abu Dhabi National Oil Company's (ADNOC) $18,7 billion bid for Australian liquefied gas producer Santos faces a much higher hurdle than the money offered. The politics surrounding the deal, which would represent Australia's biggest-ever cash takeover in history, are becoming increasingly difficult to overcome. ADNOC began its bid in June for Santos, Australia’s second largest oil and gas company.
Germany Looks to Meet European Demand with Canadian LNG
German companies are looking to buy and swap Canadian LNG cargoes shipped off the Pacific coast to help meet European demand, Canada's Energy and Natural Resources Minister Tim Hodgson said on Wednesday.Canada, the world's fifth-largest natural gas producer, shipped its first-ever liquefied natural gas export cargo in June from the recently constructed LNG Canada facility in British Columbia…
Saudi Aramco is considering asset sales as a way to raise funds, according to sources
Two people familiar with the matter have confirmed that Aramco, Saudi Arabia's state-owned oil company, is looking at selling assets to raise funds as it continues its international expansion while coping with lower crude prices. Aramco, the largest oil company in the world and the primary source of Saudi revenue, is the biggest oil producer on the planet. As oil prices fall, the firm will cut dividends by almost a third.
Saudi Aramco is considering asset sales as a way to raise funds, according to sources
Two people familiar with the matter have confirmed that Aramco, Saudi Arabia's state-owned oil company, is looking at selling assets to raise funds as it expands internationally and deals with lower crude prices. Aramco, the largest oil company in the world and the primary source of Saudi revenue, is the biggest oil producer on the planet. As oil prices fall, the firm will cut dividends by almost a third.
Offshore Energy Production & the World Economy
As the price of gas continues to seemingly hold steady at around three dollars a gallon, the pocketbooks of Americans continue to suffer. Regretfully, due to global conflict and the outbreak of wars across Europe and the Middle East, oil prices are continuing to climb upwards, troubled by geopolitical conflict and fears of a potential shutdown of international oil and gas fields.Thankfully…
Ørsted Breaks Ground on Carbon Capture Project
Ørsted is embarking on the construction of two carbon capture (CCS) facilities designed to capture and store carbon emissions from the woodchip-fired Asnæs Power Station in Kalundborg and the straw-fired unit at Avedøre Power Station in Greater Copenhagen, representing Denmark's first full-scale carbon capture project.It is expected that the carbon capture project…
PipeChina to Buy $56B Worth of Pipelines
China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing to buy pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion).Under the deal, PipeChina, known formally as China Oil and Gas Pipeline Network, will take over oil and gas pipelines and storage facilities from state-owned energy giants PetroChina and Sinopec…
China to Launch State Pipeline Group
China plans to launch its long-awaited national oil and gas pipeline company on Monday, part of a sector-wide reform aimed at providing fair market access to infrastructure and boost investment in oil and gas production.Most of the country's pipeline infrastructure is controlled by energy giant PetroChina, CNPC's listed arm, and small, non state-owned oil and gas producers and distributors often don't have access to the pipelines at com
Rebooting What’s Possible in India’s Gas Market
‘To lose patience is to lose the battle’ -Mahatma GandhiIndia is something of a conundrum for global LNG players. I recently returned from a week in Delhi, just as the capital was making headlines for one of the worst episodes of air pollution, while the country’s energy mix remains dominated by cheap domestic coal. At the same time, gas price sensitivity continues to stymie investment and contracting negotiations.
ADNOC Inks $600 Mln Deal with GIC
Abbu Dhabi National Oil Co (ADNOC) said on Wednesday it signed a $600 million pipeline infrastructure investment agreement with Singapore's sovereign wealth fund GIC.The deal follows previous investments by BlackRock, KKR and the Abu Dhabi Retirement Pensions and Benefits Fund in the Abu Dhabi oil giant's pipeline infrastructure, bringing the combined investments to a total of $4.9 billion, ADNOC said.(Reporting by Asma Sharif and David
Permian Midstream Bottlenecks May Choke Output
Rapidly rising production in the Permian basin has led to soaring levels of associated gas, outpacing pipeline infrastructure and placing increasing slowdown pressure on other production streams like crude oil and natural gas liquids (NGLs), Dr. Eugene Kim, Wood Mackenzie Research Director, Americas Gas, told delegates at the Unconventional Resources…
US Oil Production Up, Needs More Pipelines
The rising domestic crude oil production in the United States has created a need for more pipeline capacity, revealed the US Energy Information Administration (EIA).EIA recently launched a new liquids pipeline projects database that tracks more than 200 crude oil, hydrocarbon gas liquids (HGL), and petroleum products pipeline projects."Rising domestic…
DNV GL Opens New Houston Facility
DNV GL announced Thursday that it has opened a new facility in Houston to provide failure analyses that support the industry in conducting effective and efficient root cause analyses.The facility will carry out the initial steps of a failure investigation, which could include visual inspection, non-destructive testing [NDT], disassembly, cutting of components, etc.
Adnoc Signs USD4bln Pipeline Deal
Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private equity firm KKR & Co.The Middle East national oil company said that the transaction includes the creation of Adnoc Oil Pipelines, which will lease Adnoc's interest in 18 pipelines and give…
Part of Keystone Pipeline Still Shut After Missouri Leak -TransCanada
TransCanada Corp said on Monday a part of its Keystone crude pipeline from Steele City, Nebraska, to Patoka, Illinois, remained shut after a leak was discovered in the St. Louis, Missouri, area last week.The cause and source of the spill have not been determined and there is no estimated timeline for a restart, TransCanada spokesman Terry Cunha said in an email.The 590…
China’s Oil and Gas Industry to Focus on Environment Impact
China’s oil and gas industry is set to reinforce efforts to reduce environmental impacts of its projects and operationsin 2019, said a research.According to a new research from DNV GL, six in ten (61%) senior oil and gas professionals in China say their organizations are actively preparing for the transition to a lower carbon energy mix compared to 51% globally.
Upset by Trump's Iran Waivers, Saudis Push for Deep Oil Output Cut
When U.S. President Donald Trump asked Saudi Arabia this summer to raise oil production to compensate for lower crude exports from Iran, Riyadh swiftly told Washington it would do so.But Saudi Arabia did not receive advance warning when Trump made a U-turn by offering generous waivers that are keeping more Iranian crude in the market instead of driving exports from Riyadh's arch-rival down to zero…
FLNG Hilli Episeyo Operates in Full Capacity
Golar LNG Limited confirmed that FLNG Hilli Episeyo continues to operate with 100 percent commercial availability.Currently in the process of exporting its 10th LNG cargo, the vessel's proof of concept continues to add momentum to both existing and new opportunities under discussion. Discussions also continue with field operator Perenco as to the timing…