Middle East
Investors Dump Crude Oil and Distillates as Middle East Risk Recedes
Investors dumped crude oil futures and options for the second week running as the economic outlook worsened and the risk of a wider conflict in the Middle East appeared contained.
Cyprus Responds to Chevron's Request for Aphrodite Gas Field Development Extension
Cyprus has responded to a request from international energy companies led by Chevron for an extension in talks over a modified development plan for its Aphrodite offshore gas field, its energy minister said on Monday.
U.S. House Easily Passes Bill to Harden Sanctions on Iranian Oil
The U.S. House of Representatives easily passed a bill on Friday to bolster sanctions on Iranian oil in a strong bipartisan vote.
Saudi Arabia, Russia to Continue Additional Voluntary Oil Cuts
Top oil exporters Saudi Arabia and Russia confirmed on Sunday they would continue with their additional voluntary oil output cuts until the end of the year as concerns over demand and economic growth continue to weigh on crude markets.
Sinopec Signs New 27-Year LNG Supply Deal with QatarEnergy
Under the agreement, the two companies will cooperate on the second phase of the Gulf Arab state's North Field expansion project, which will supply 3 million metric tons of LNG per year to Sinopec.
India’s Petronet LNG Not Seeking Additional Volumes in Qatar Deal
India's top gas importer Petronet LNG is not seeking additional volumes when it renews its long-term liquefied natural gas deal with Qatar, its Head of Finance V. K Mishra said on Monday on an analyst call.
Oil Drops After Hamas Releases U.S. Hostages
Oil prices settled lower on Friday after the Islamist group Hamas released two U.S. hostages from Gaza, leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.
Global News October 2023
Latest industry developments from around the world!
Editor’s Notebook: ‘Peace Pipeline’ Project Appears Dead
At least for a while over the last couple of decades, the Iran-Pakistan (IP) gas pipeline was perceived by some as something that would bring at least a measure of harmony to Pakistan’s relationship with Iran. However, once again, the project has been shelved – this time apparently under U.S. pressure.
Oil on Track for Second Week of Gains on Gaza Contagion Fears
Oil prices extended gains on Friday and were on track for a second week of increases on heightened fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions.
U.S. Senators Ready Bill to Fund Office Helping Iran Oil Seizures
U.S. senators from both parties are readying legislation to help the federal government enforce oil sanctions on Iran, the office of Senator Joni Ernst, a Republican, told Reuters on Thursday.
ADNOC Gas Signs LNG Supply Deal with Japan's JERA
Abu Dhabi's ADNOC Gas and Japan's JERA Global Markets signed a two-year LNG agreement valued between $500-700 million, the companies said on Wednesday.
Mitsui Considers Stake in Qatar's North Field LNG Expansion Project
Japanese trading house Mitsui & Co is considering buying a stake in the North Field LNG expansion project in Qatar as a way to ensure a stable supply of LNG, a Mitsui spokesperson said.
Saudi Aramco Eyes Additional LNG Investments for Market Leadership
The chief executive of Saudi Arabia's oil group Aramco, Amin Nasser, said his company is looking at more investments in LNG to boost its plans to become a leading player in the seaborne gas market.
India Wants Saudi Aramco to Develop Strategic Petroleum Reserve as Ties Strengthen
India wants Saudi Arabia's Aramco to participate in its planned 6.5 million metric tons strategic petroleum reserve program as the South Asian nation intends to strengthen ties with its key oil supplier.
QatarEnergy, TotalEnergies Sign 27-Year LNG Supply Agreement
Qatar on Wednesday secured its largest and longest European gas supply deal from Doha's massive production expansion project, providing France with up to 3.5 million metric tons of LNG a year for 27 years.
Oil Falls After Saudi Pledge; Investors Keep Wary Eye on Israel
Oil prices fell over 2% on Wednesday as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC producer Saudi Arabia pledged to help stabilize the market.
QatarEnergy, Chevron Phillips Chemical Secure $4.4 Billion for Ras Laffan Petrochemicals Project
(P&GJ) – QatarEnergy and Chevron Phillips Chemical Company LLC (CPChem) have secured $4.4 billion financing for the Ras Laffan Petrochemicals project, a world-scale integrated polymers complex in Ras Laffan Industrial City, Qatar.
Chevron Halts Gas Exports via EMG Pipeline from Israel to Egypt
Chevron has halted natural gas exports through a major subsea pipeline between Israel and Egypt and is supplying gas via an alternative pipeline through Jordan, industry and government sources said on Tuesday.
Israel's Port of Ashkelon, Oil Terminal Shut in Wake of Conflict
Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict between Israel and Islamist group Hamas, shipping and trade sources said on Monday.
Israel Suspends Chevron's Tamar Gas Field Amid Hamas Attacks
Israel has suspended production at the Tamar gas field off its southern coast and will seek alternative fuel sources to meet its needs, the energy ministry said on Monday following three days of violence in the region.
Explainer: What Is Stopping the Iraq-Turkey Oil Pipeline Restarting?
A crude oil export pipeline from Iraq to Turkey is ready to resume operations, which have been suspended for the past six months, but flows have yet to restart.
UAE's ADNOC Awards $17 Billion of Contracts for Gas Project, Including Subsea Pipelines
Abu Dhabi National Oil Company (ADNOC) said on Thursday it had awarded contracts worth about $16.94 billion for a gas project that aims to operate with net zero carbon dioxide emissions, adding it would be the first in the world to do so.
Global News September 2023
Latest industry developments from around the world!
ADNOC Gas Awards $600 Million Carbon Capture Contract to Petrofac
U.K. oil services firm Petrofac said on Tuesday it got a more than $600 million contract from ADNOC Gas for the Habshan carbon capture and storage (CCS) project, as the Abu Dhabi-based company steps up its decarbonization plan.
Turkey to Resume Operations of Iraq Oil Pipeline This Week
Turkey will restart operations this week on a crude oil pipeline from Iraq that has been suspended for about six months, Turkey's Energy Minister Alparslan Bayraktar said on Monday.
Saudi Aramco to Acquire Stake in EIG's MidOcean Energy for LNG Expansion
Saudi Arabia's oil group Aramco said on Thursday it had agreed to acquire a strategic minority stake in LNG company MidOcean Energy for $500 million, with an option to increase the size of the shareholding.
QatarEnergy, Korea's HHI Sign $3.9 Billion Deal for 17 LNG Carriers
QatarEnergy said on Wednesday it had signed a 14.2 billion riyal ($3.90 billion) deal with HD Hyundai Heavy Industries for the South Korean firm to supply it with 17 LNG carriers.
Hydro-Rich Tajikistan Plans to Produce 1 Million Tons of Hydrogen by 2040
Hydropower-rich Tajikistan plans to produce 1 million metric tons of green hydrogen by 2040 for usage at home and exports to neighboring central Asian countries, its Minister of Energy and Water Resources Daler Juma told Reuters on Monday.
Russian Oil Producers Send CPC Blend to UAE, Open New Export Route
Russian oil producers supplied their first cargoes of CPC Blend crude to the United Arab Emirates (UAE) in August and September, four traders told Reuters, opening up a new export route as Moscow looks to find new customers and skirt Western sanctions.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Russian LNG Unfazed By U.S. Sanctions
