European NatGas Prices Drop Despite Norwegian Outage
The European continent continues to pull in U.S. LNG, offsetting Norway’s Hammerfest LNG outage.
Production Begins at Shell’s GoM Whale Facility
Shell’s Whale floating production facility in the Gulf of Mexico has reached first oil less than eight years after the field’s discovery of 480 MMboe of estimated recoverable resources.
Lion Equity Partners Buys Global Compression from Warren Equipment
Private equity firm Lion Equity Partners has acquired Warren Equipment Co.’s Global Compression Services business.
TotalEnergies to Pay $5 Million to Settle US FERC NatGas Manipulation Case
Jan 9 (Reuters) – A unit of French energy company TotalEnergies (TTEF.PA) agreed to pay $5 million to settle claims by U.S. energy regulators that it and some of its traders allegedly manipulated the natural gas market in 2009-2012. The settlement is much smaller than the $214 million the U.S. Federal Energy Regulatory Commission had …
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Nord Stream 2 AG Gets More Time for Debt Restructuring
MOSCOW, Jan 9 (Reuters) – A court in Switzerland has extended the deadline for Nord Stream 2 AG, a unit of Russia’s Gazprom (GAZP.MM), to restructure its debts to May 9 from Jan. 10, according to a court ruling. It also said that Swiss-registered Nord Stream 2 AG, the operator of the undersea gas pipeline …
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BP Projects 44% Jump in Oil Output From India’s Largest Field, ONGC Says
By Sethuraman N R Jan 9 (Reuters) – Global energy major BP (BP.L) has pledged to lift oil production by 44% and gas output by 89% from India’s largest field off its west coast, under a decade-long contract, according to block operator Oil and Natural Gas Corp (ONGC.NS) on Thursday. ONGC named BP as its …
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LS Power Completes Acquisition of Algonquin Power’s Renewables Unit
With the transaction’s closure on Jan. 8, LS Power formed Clearlight Energy to manage the acquired renewable energy assets.
Don’t Be Fooled by Oil’s Strong Start to 2025
Crude’s advance at the beginning of the year won’t last if producers’ track record is any guide. Today, oil strategist Julian Lee looks at the challenges facing OPEC+ plans to raise output this year. The oil market may not be as oversupplied this year as some forecasters have been suggesting. That doesn’t mean it will …
Norway Gas Exports Expected to Stay Close to Last Year’s Record Levels
Norway exported a record amount of natural gas in 2024 and volumes are expected to stay near this level in the coming years, official data and forecasts showed on Thursday. Norway became Europe’s largest supplier of natural gas following Russia’s invasion of Ukraine in 2022, providing about 30% of all gas imports to the European …
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Oil Prices Edge Higher as Markets Weigh Demand Against U.S. Inventories
Summary • Analysts expect Jan demand to grow by 1.4 mln bpd • US gasoline and distillates stocks rise more than expected • Saudi Arabia crude oil supply to China to fall in Feb (Reuters) – Oil prices rose slightly on Thursday as investors factored in firm winter fuel demand expectations despite large U.S. fuel …
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