Oil & Gas

The European Union on Wednesday raced to find out exactly what happened and why after mystery gas leaks hit two underwater Russian gas pipelines, warning of retaliatory measures for any deliberate attack on the region’s energy infrastructure. In a statement on behalf of all 27 members, EU foreign policy chief Josep Borrell said Wednesday that

A US government funding bill was stripped of an effort to speed up the federal approval process for energy projects, dealing a major setback to efforts to fast-track the approval of energy infrastructure including a stalled $6.6 billion natural gas pipeline. Senate Majority Leader Chuck Schumer said Tuesday he agreed to a request by Senator

Malaysian oil and gas player Petronas has announced that the North Malay Basin (NMB) Phase 3 project in Block PM302, located 180 miles off Peninsular Malaysia, has recently achieved its first gas production. Block PM302 is operated by Hess Corporation with a 50 percent participating interest. Its only partner in the block is Petronas Carigali

A proposed price cap on Russian oil got a mixed reaction from traders and consultants at Asia’s biggest oil conference in Singapore, labeled a “bad idea” and a “minefield” from some of the industry’s biggest names. The price cap was a key talking point on day one of the Asia Pacific Petroleum Conference in Singapore,

The UK expects to raise more than £28 billion ($30.9 billion) in the coming years from a windfall tax on oil and gas firms. The revenue will go toward offsetting the huge costs of subsidizing energy bills amid a cost-of-living crisis driven by soaring gas and power prices. The forecast was released as part of

Here are some of Rigzone’s top stories during the last week, just in case you missed them… Vessel Boarded by Sea Robbers On September 14 in the Gulf of Guinea, the cargo vessel Martina was boarded by sea robbers armed with guns and knives while anchored at Conakry Anchorage in Guinea, Dryad Global’s latest Maritime

Tesla electric cars photographed in Germany on March 21, 2022. According to the International Energy Agency, electric vehicle sales are on course to hit an “all-time high” this year. Sean Gallup | Getty Images News | Getty Images Electric vehicle sales are on course to hit an all-time high this year, but more work is

Oil is set to rebound in the fourth quarter, according to some of Wall Street’s leading banks, as low inventories and sustained demand underpin a recovery despite growing concerns of a global slowdown. JPMorgan Chase & Co. forecasts London’s Brent oil at $101 a barrel for the final three months of 2022, while Goldman Sachs

The derrick is seen behind anti-fracking banners at Cuadrilla’s Lancashire fracking site. Christopher Furlong | Getty Images LONDON — The U.K. government lifted its ban on fracking Thursday, citing the need to increase domestic energy supply following the Russian invasion of Ukraine. In her first major address on Sept. 8, new Prime Minister Liz Truss

At the time of writing, there are five weather disturbances being tracked in the Atlantic by the U.S. National Oceanic and Atmospheric Administration’s (NOAA) National Hurricane Center (NHC). The strongest of those is Hurricane Fiona, which is said to have maximum sustained winds of 130 miles per hour. Fiona is currently expected to affect portions

From cutting down on shower time, driving slower and fining shopkeepers for not closing their doors, Europeans are embarking on a target of reducing energy usage in time for winter, and some citizens have taken to social media to share their experiences. For example, German Christopher Hipp offered tips on Twitter on how to defrost

$80 is the new $60 for oil, according to a new BofA Global Research report, which was sent to Rigzone on Tuesday. “As world GDP expands by just 2.5 percent next year, according to the BofA economics team, global oil demand growth should slow further,” the BofA Global Research report stated. “Weaker growth kicks in

In this article SCBFY Antonio Guterres photographed in New York last September. On Tuesday, he said fossil fuel firms and their “enablers” needed to be held to account. John Minchillo | Pool | Getty Images News | Getty Images The U.N. secretary general said Tuesday that developed economies should impose an extra tax on the

The Department of Energy will offer additional US reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December.  The agency will offer 10 million barrels of low-sulfur crude for supply in November from storage caverns in Texas and Louisiana, according to a press statement. Bids for the

Drilling, engineering and technology provider KCA Deutag has been able to extend a number of contracts and secure additional options, but is also close to completing the acquisition of Saipem’s land rig business. The contract extensions, according to a company statement, are valued around $112 million, and are primarily related to land rigs in Saudi

Russia could find new markets for about half of the crude exports that will be banned by the European Union from December, according to energy-data firm Kpler.  Indonesia, Pakistan, Brazil, South Africa, Sri Lanka and some countries in the Middle East could together buy as much as 1 million barrels a day of crude from

Here are some of Rigzone’s top stories during the last week, just in case you missed them… Oil Futures Signal Death Cross One of Rigzone’s regular market watchers recently took a look at the signal of a so called death cross pattern in the oil futures market, what oil traders were focusing on, natural gas

Shell Plc’s next CEO is seen as natural choice who will follow the course laid out by his predecessor — straight into a series of historic challenges.  Wael Sawan, the head of gas and renewables who will take Shell’s top job on Jan. 1, will have to make good on the company’s promise to cut

In this article SHEL-GB Wael Sawan will become Shell’s next chief executive on Jan. 1. Ina Fassbender | Afp | Getty Images Oil giant Shell on Thursday announced that CEO Ben van Beurden will step down at the end of the year after nearly a decade at the helm. Wael Sawan, currently Shell’s director of

The cost of diesel is plunging around the world as traders weigh the impact of a potential new quota for Chinese fuel exports. Europe’s ICE gasoil crack, which measures the price of diesel futures relative to crude oil contracts, plummeted to its lowest in more than a month earlier on Wednesday. Margins for diesel-type fuel