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
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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
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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
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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,
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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
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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
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$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
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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
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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
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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
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