Oil & Gas

Malaysian oil and gas giant Petronas has awarded two contracts as part of an international dual Front End Engineering Design (FEED) design competition for a nearshore liquefied natural gas (LNG) project in Sabah. Petronas stated that the first contract was awarded to a consortium of JGC Corporation and Samsung Heavy Industries while the other was

Oil rigs work on platforms in Gaoyu Lake in Gaoyou in east China’s Jiangsu province Friday, Sept. 17, 2021. Barcroft Media | Getty Images OPEC and non-OPEC oil producers, an influential group known as OPEC+, will meet on Thursday to decide on the next phase of output policy. The energy alliance will convene via videoconference

South Africans contending with power shortages, record-high unemployment and a new coronavirus variant finally got a sliver of good news.  While the energy department announced on Nov. 29 that the gasoline price would jump by 81 cents (5 U.S. cents) a liter this month, it said Wednesday that it had erred in its calculations and

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Ramzi Boudina | Reuters A group of some of the world’s most powerful oil producers is meeting Wednesday to discuss how much of an impact the new omicron Covid variant is likely

TotalEnergies has announced that it and its U.S. partner Clean Energy are launching the construction of their first biomethane production unit, in Friona, Texas. The biomethane will be used as an alternative fuel for mobility, according to TotalEnergies, which outlined that this would contribute to decarbonizing road transportation. By processing cow manure and substituting fossil

A worker uses a mobile phone torchlight to illuminate his cutting space at the fish market, where portable emergency lighting runs due to a power cut, in Beirut, Lebanon, on Wednesday, Sept. 8, 2021. Francesca Volpi | Bloomberg | Getty Images Natural gas from Egypt may start flowing to Lebanon within two or three months,

British Columbia extended a state of emergency and fuel rationing until mid-December as the western Canadian province braces for more heavy rain following some of its worst floods on record. Parts of British Columbia are still struggling with damage from floods and landslides that closed highways and railways two weeks ago, sharply reducing the flow

In this article @LCO.1 @CL.1 Oil derrick pumps operate at the Inglewood Oil Field in Culver City, California, on Sunday, July 11, 2021. Kyle Grillot | Bloomberg | Getty Images Oil prices jumped on Monday as traders bet that Friday’s sharp sell-off, prompted by fears that the new omicron Covid variant will curb demand for

Trans Mountain Corporation has revealed that it has made “considerable progress” towards a safe restart of the Trans Mountain pipeline. “Based on current conditions and the amount of progress we have been able to make in the face of continued challenges with weather and access, we are working towards restarting the pipeline at a reduced

Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. Both benchmarks tumbled on Friday with the emergence of the new variant representing the biggest threat to the recovery in oil consumption in several months, with a

Oil prices suffered one of the largest ever one-day plunges, crashing more than 11% on Black Friday as a new coronavirus strain sparked fears that renewed lockdowns will hurt global demand. The crash, the 7th largest ever for Brent crude, the global oil benchmark, may prompt the OPEC+ cartel to re-consider its policy when it

An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images The Biden administration on Friday proposed reforms to the country’s oil and gas leasing program that would raise costs for energy companies to drill on public lands and

Parkland Corporation (TSX:PKI) announced earlier this week that it has initiated steps to pause refinery processing operations at the Burnaby Refinery. The company, which revealed that it will maintain the refinery in “ready-mode”, outlined that the decision was made in response to the “ongoing crisis” in British Columbia that resulted in the shutdown of the

Petroleum pump jacks are pictured in the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority has said that some countries had failed to adopt a helpful position to calm soaring oil and gas prices, criticizing “artificial tightness” in energy markets. “[A] factor I would

Serica Energy plc (AIM: SQZ) has announced that first production has been achieved from its Columbus field, which is located in the Central North Sea. Hydrocarbons from the C1z development well started flowing on November 24 and co-mingled Arran and Columbus production streams are now being exported to the Shearwater platform for processing, Serica highlighted.

Oil wells pumping outside of Midland Texas. Joe Sohm | Visions of America | Universal Images Group | Getty Images The Biden administration’s decision to release oil from U.S. reserves is a “mistake,” former U.S. Energy Secretary Dan Brouillette told on Wednesday. “I do think it’s a bad policy choice. There’s no question about that,”

S.D. Standard Drilling Plc. (OSE: SDSD) has announced that it has entered into a memorandum of agreement to sell the Standard Princess vessel for $10.3 million. The name of the buyer was not disclosed by the company. The sale of the vessel will result in a gain for Standard Drilling of gross $2.3 million, compared

President Joe Biden said Tuesday that the administration will tap the Strategic Petroleum Reserve as part of a global effort from energy-consuming nations to calm 2021’s rapid rise in fuel prices. The coordinated release between the U.S., India, China, Japan, Republic of Korea and the United Kingdom is the first such move of its kind.

The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the U.K — an unprecedented, coordinated attempt by the world’s largest oil consumers to tame prices that could prompt a backlash by OPEC+. Of that amount, 32 million will be released from

Steam rises from the Niederaussem coal-fired power plant operated by German utility RWE, which stands near open-pit coal mines that feed it with coal, on November 13, 2017 near Bergheim, Germany. Lukas Schulze | Getty Images News | Getty Images LONDON — The deepening climate emergency underscores the urgent need for policymakers to oversee a