Oil & Gas

Gazprom workers on the Yamal Peninsula in Russia. Bloomberg | Bloomberg | Getty Images Russia’s gas supplies to eastern Europe are looking highly uncertain after the country’s state-run gas giant Gazprom told Poland and Bulgaria that it would halt supplies. The move comes after both countries refused Moscow’s recent demand to pay for gas supplies

Norwegian oil major Equinor and Applied Petroleum Technology (APT) have joined forces in a research project that aims to replace costly downhole sampling and logging with more cost-efficient solutions. The oil and gas industry’s drive to reduce both its cost level and climate gas emissions has resulted in continued pressure to reduce the cost and

Oil giant Petronas has signed a Production Sharing Contract (PSC) with SK Earthon and Petroleum Sarawak Exploration & Production (PSEP) for Block SK427 off the coast of Sarawak. SK Earthon, a wholly-owned subsidiary of South Korea’s SK Innovation, will be the operator of Block SK427 with an 85 percent participating interest while PSEP will hold

TechnipFMC and Aker Solutions are the winners of the 2022 U.S. National Ocean Industries Association (NOIA) Safety in Seas Awards competition. TechnipFMC is the 2022 NOIA Safety in Seas Culture of Safety Award winner and Aker Solutions is recognized for the 2022 NOIA Safety in Seas Safety Practice award. The Culture of Safety Award honors

China’s interest in acquiring an abandoned stake in a Russian liquefied natural gas export project is providing further justification for Japan to continue its joint venture with Gazprom PJSC. “If Japan leaves a project, then a third party can acquire it,” Trade Minister Koichi Hagiuda said in Tokyo on Friday. “Exiting energy projects in Russia

Here are some of Rigzone’s top stories during the last week, just in case you missed them… Oil Tanker With 750 Tons Of Diesel Sinks Off Tunisia A tanker carrying 750 tons of diesel fuel from Egypt to Malta sank off Tunisia’s southeast coast. The tanker, named Xelo, sought shelter from bad weather before going

Oil dropped for the third week out of the last four with China facing a large consumption hit and the Federal Reserve signaling that it will aggressively tighten monetary policy to curb inflation.  West Texas Intermediate fell over $4 this week, settling near $102 a barrel after a volatile trading week. Fuel consumption in China,

Oil rose to settle at its highest in three days in a volatile session as a series of challenges to supply eclipsed concern about the lingering threat to energy demand from lockdowns in China. West Texas Intermediate closed Thursday above $103 a barrel in a week that has seen futures swing in a $10 range.

Ukrainian soldiers stand on their armored personnel carrier (APC), not far from the front-line with Russian troops, in Izyum district, Kharkiv region on April 18, 2022. Anatolii Stepanov | Afp | Getty Images Russia’s new offensive in the Donbas region could prove to be extremely significant and decisive in the war, analysts warn, and could

Oil edged higher after a tumultuous session where traders weighed concerns about tight global supply with Germany announcing a ban on Russian oil and a sharp drop in U.S. crude inventories. West Texas Intermediate settled above $102 on Wednesday after swinging between gains and losses. German Foreign Minister Annalena Baerbock said that the country plans

Loading chart… U.S. natural gas futures plunged more than 10% Tuesday, reversing Monday’s surge which saw the contract rally more than 10% at one point to break above $8 per million British thermal units and hit the highest since September 2008. Henry Hub prices declined 10.2% Tuesday to trade at $7.02. The May contract is

Oil extended losses after the International Monetary Fund downgraded its global growth forecast, intensifying market concerns of an economic slowdown in the wake of hawkish comments from U.S. Federal Reserve officials. West Texas Intermediate fell more than $5 to settle below $103 on Tuesday, the sharpest drop in more than a week. The IMF slashed

Oil rose as the shutdown of Libya’s biggest oil field strains an already under-supplied market, overshadowing signals that China’s drastic pandemic lockdowns are weighing on economic growth. Brent crude futures settled above $113 a barrel for the first time since late March while West Texas Intermediate oil closed just above $108. Global crude markets face

As Europe suffers its worst energy crisis in a generation, French presidential candidate Marine Le Pen is proposing to subsidize consumption while further curtailing supply. The 53-year-old nationalist is narrowly trailing President Emmanuel Macron in polls ahead of the April 24 runoff election. She has campaigned for months on a promise to boost voters’ purchasing

Almost half of the largest investor-owned utilities in the U.S. are actively pushing back against climate policy, slowing government efforts to combat global warming, according to a report by climate research group InfluenceMap. Eleven of the 25 biggest U.S. utilities are viewed by InfluenceMap as “obstructionist” to climate measures that are aligned to international commitments

California, which aims to have a carbon-free power grid within 25 years, got a short glimpse of that possibility earlier this month. The state’s main grid ran on more than 97% renewable energy at 3:39 p.m. on Sunday, April 3, breaking a previous record of 96.4% that was set just a week earlier, the California

A driver uses the Uber app to drop off a passenger. Chris J. Ratcliffe | Bloomberg via Getty Images When Sergio Avedian, 55, started driving full time for Uber and Lyft in 2016, he used to make $3,000 a week. “Now, it’s impossible to make that kind of money,” he said. Coming out of the

Oil notched a weekly gain as traders weighed a global supply deficit, a potential ban on Russian oil from the European Union, and and China’s latest virus lockdowns. West Texas Intermediate settled near $107, rising 8.8% for the week. Oil rallied Thursday afternoon after a report that the European Union is moving toward adopting a

D3sign | Moment | Getty Images Inflation has hit levels not seen in 40 years and Americans’ wallets are feeling the strain. Prices are rising on everything from energy to food to shelter, costing the average American household an additional $327 per month, according to a Moody’s Analytics analysis. That’s higher than last month’s estimate

Oil rose above $104 with traders seeing a global supply deficit even as the International Energy Agency lowered its global demand growth estimates because of China’s renewed lockdowns.  West Texas Intermediate rose 3.6% on Wednesday, extending its recent rally above $100 a barrel. The IEA said that OPEC+ members have only managed to provide 10%