Stories tagged “Gas.”
30 stories
UK ministers are reportedly poised to approve the controversial Jackdaw gasfield this month, with the Rosebank oilfield likely to follow later this year. Consultations for both projects have closed, and the energy secretary is expected to recommend approval for Jackdaw soon.
Iran has completed drilling for two wells in the joint Balal gas field, with the overall development project now 42% complete. This initiative is expected to boost Iran's daily gas production by 14 million cubic meters within two years, helping to alleviate the country's …
Iran has announced the discovery of new hydrocarbon reserves, including over 7,500 billion cubic feet of gas in Fars province, signaling the oil industry's continued development despite sanctions.
Iran and Oman are pushing talks for an interim reopening of the Hormuz Strait, a key waterway through which about a fifth of the world's oil and liquefied natural gas passes. The two sides are discussing an interim framework aimed at resuming shipping through the strait.
The Oil and Gas Regulatory Authority (OGRA) has increased the prices of petroleum products. The petrol price has been increased by 39 paisa per litre, taking the new petrol price to Rs341.98 per litre. The price of diesel has been increased by Rs2.40 per litre, with the n…
Russia Scrambles to Restore Fuel Supplies as Refineries Resume Operations
Russia is scrambling to restore fuel supplies as refineries resume operations. The country's oil production is slowing down, and the gas turbine shortage is becoming a major constraint. The situation is causing concerns about fuel availability and prices.
Egypt has established a private free zone for the Fujairah Alamein Oil and Gas Company in New Alamein, a Mediterranean city, to store and trade crude oil and petroleum products. The zone will cover approximately 738,000 square meters and will host facilities specialising …
Iranian oil minister Mohsen Paknejad announced the discovery of a major new gas field in southern Fars province, with recoverable reserves estimated at around 5.7 trillion cubic feet. The field, known as Takht-e, contains sweet natural gas and substantial quantities of ga…
Pakistan is set to sign agreements with local refineries to accelerate long-delayed refinery upgrade projects. The government expects the upgrades to strengthen domestic oil infrastructure, reduce reliance on imported petroleum products, and support greater energy security.
Germany's gas storage levels have reached a record low, with only 49% of capacity filled, according to the Initiative Energien Speichern (Ines). This is a significant decrease from last year's levels, which were at 67% at the same time. The current low levels are attribut…
The Unite union's support for new North Sea oil and gas extraction is questioned, while workers in London stage mass walkouts over hot working conditions.
Nigeria's oil and gas industry faces significant threats to fresh investment and production growth due to regulatory uncertainty, overlapping mandates, and lengthy approval processes, according to PENGASSAN.
5 Energy Stocks Cashing In On The New Energy Crunch
The article discusses how energy stocks are benefiting from the new energy crunch, with companies like Chevron and Aramco seeing increased demand for their products.
Peter Thiel Bets $76 Million on Argentina’s Vaca Muerta Shale
Billionaire investor Peter Thiel has made a significant bet on Argentina's Vaca Muerta shale, investing $76 million in the project. The investment is seen as a vote of confidence in the country's energy sector, which has been struggling in recent years.
US President Donald Trump said no talks were taking place with Iran and none were scheduled, contradicting an earlier Iranian assertion that the Strait of Hormuz remained closed to shipping.
Japan's Oil Crisis Eases, But the Import Bill Keeps Climbing
Japan's oil crisis is easing, but the import bill continues to climb. Despite a decrease in oil prices, Japan's oil imports remain high, leading to a significant increase in the country's oil import bill.
Japan needs post-Kumamoto quake overhaul after factory damage, gas blast
A recent earthquake in Japan's Kumamoto Prefecture has highlighted the need for a post-quake overhaul of the country's disaster preparedness measures. The quake caused significant damage to buildings and infrastructure, including a factory and a shopping mall, and has rai…
Nigeria: Nuprc Plans Oil Swap Framework to Raise Supply, Cut Logistics Costs
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has proposed a new framework for domestic crude oil and gas supply, including a swap arrangement to reduce logistics costs and improve feedstock availability for local refineries.
US Vice President JD Vance outlined Washington's priorities in the ongoing conflict with Iran, focusing on keeping oil and gas prices low and preventing Tehran from acquiring nuclear weapons.
Why a Record-Strength El Niño Still Might Not Save Europe's Gas Market
A record-strength El Niño may not be enough to save Europe's gas market due to various factors, including supply chain disruptions and geopolitical tensions.
South Africa’s Top Court Blocks Shell Wild Coast Exploration
South Africa's Constitutional Court has upheld a previous ruling, effectively blocking Shell's plans for oil and gas exploration off the country's Wild Coast.
BP will develop a large offshore gasfield in Venezuela with firms linked to the Trump administration. The move is one of the first large-scale foreign investments in the country since the US ousted leader Nicolás Maduro in January.
America’s Authoritarian Adversaries Are Forging a New Power Bloc
The United States' overt seizure of Afghan assets has sparked a new era of smash-and-grab diplomacy in a world of resource scarcity. National security experts warn that Russia, China, and Iran are joining forces against Western pressure.
Why Trump’s Waiver of the Jones Act Is Unlikely To Lower Gas Prices
The Jones Act waiver by Trump is unlikely to lower gas prices due to various factors, including the complexities of the US oil market and the limited impact of the waiver on oil prices.
Pakistan's Petroleum Minister Ali Pervaiz Malik announced that Turkish Petroleum will soon begin offshore drilling operations in the country's territorial waters. This move aims to attract significant foreign investment to Pakistan's energy sector, which currently imports…
U.S. Energy Helps Cushion Global Supply Shock From Hormuz
The Iran war has tightened global refining capacity, leading to a new refining boom. Meanwhile, the U.S. is helping to cushion the global supply shock from the Hormuz Strait by increasing its energy exports.
Iran says a deal with Oman on control of the Strait of Hormuz is close but will not be enough to free up the waterway. The deal would give Tehran control over ships entering the Gulf through the strait.
ADNOC Buys 11 Supertankers for $1.3 Billion to Expand Export Fleet
ADNOC has acquired 11 supertankers for $1.3 billion to expand its export fleet, a move aimed at increasing its global market share.
Iran and Oman are close to an agreement on a new route through the Strait of Hormuz, a key waterway for global oil and gas trade. The deal would allow ships to pass through the strait on a northern route and then exit on a southern route along the Omani coast.
Hormuz Crisis Is Rewriting the Global LPG Trade
The ongoing Hormuz crisis is significantly impacting the global LPG trade, with India's refiners turning to West African grades to bypass the bottleneck. The crisis has led to a surge in tanker traffic in the Red Sea, with several attacks reported in recent weeks.