(BOE Report)– Liquefied natural gas (LNG) will be European oil major Shell’s biggest contribution to the energy industry over the next decade in terms of value and as it seeks to cut emissions from fossil fuel production, CEO Wael Sawan said on Monday. Sawan has increased Shell’s focus on natural gas to improve the company’s financial performance against its peers
(World Oil)– Equatorial Guinea has signed a Heads of Agreement (HOA) with ConocoPhillips to develop offshore Blocks B/4 and EG-27, a deal expected to unlock up to $9 billion in investment and support the country’s ambition to expand its role as a regional gas processing hub. The HOA, signed by ConocoPhillips alongside the Ministry of Hydrocarbons and Mining Development, national
(Oil Price) – Canadian producers are temporarily shutting in natural gas wellheads amid a record-low negative pricing at the key Alberta gas hub. The price of natural gas at the AECO Hub, the Canadian benchmark price for natural gas on the Nova Gas Transmission Ltd. (NGTL) system, has been weak all summer and plunged below zero earlier this week. On Thursday, the daily
(World Oil) – Caturus Energy has contracted Nabors Industries to deploy the PACE-X Ultra™ X33 rig, billed as the most powerful onshore drilling system currently operating in the U.S. The move marks a milestone in Caturus’ strategy to expand natural gas production from its South Texas portfolio. Caturus, which produces more than 650 MMcf of net gas equivalent per day
(Oil Price) – Eni has completed the sale of 30% in the giant operational Baleine oil and gas project offshore Cote d’Ivoire to the world’s biggest independent oil trader, Vitol, the Italian energy major said on Thursday. The Baleine project is Cote d’Ivoire’s main offshore development and after the transaction is now owned by Eni with a 47.25% stake, Vitol with 30%, and
Natural Gas Inventories as of September 19, 2025 The EIA has released its natural gas inventory report, showing a net increase of 75 Bcf as of September 19, 2025. Working gas in storage was 3,508 Bcf as of Friday, September 19, 2025, according to EIA estimates. This represents a net increase of 75 Bcf from the previous week. Stocks were
(Oil Price) – The U.S. LNG export boom could soon face challenges by the end of the decade, both at home and on the international market. Huge export capacity additions, mostly in the United States and Qatar, are set to tip the global LNG market into an oversupply as soon as next year, depressing prices and eating into the profit margins
(World Oil) – Condor Energies has launched a multi-well drilling program in Uzbekistan as the Canadian independent looks to expand natural gas production and reserves across its portfolio in Central Asia. The campaign begins with a vertical well targeting producing carbonate reservoirs and deeper stacked clastic and basement formations at around 3,000 meters. Drilling and evaluation of the well are
(Oil Price) – Some traders are betting that Europe’s natural gas prices would surge by 60% from current levels by next summer, amid many uncertainties on the market months from now. Options were traded on Monday at calls of $59 (50 euros) per megawatt-hour for April to September 2026, data compiled by Bloomberg showed on Tuesday. Dutch TTF Natural Gas Futures, the benchmark
(World Oil)– Colombian oil producer Ecopetrol SA is pursuing oil and gas deals in Brazil that could include a cluster of onshore Petrobras fields in the northeastern state of Bahia. “We believe that Brazilian onshore has great potential, especially in natural gas,” Jorge Martínez, the head of Ecopetrol’s operations in Brazil, said in an interview from the company’s offices in
Natural Gas Inventories as of September 12, 2025 The EIA has released its natural gas inventory report, showing a net increase of 90 Bcf as of September 12, 2025. Working gas in storage was 3,433 Bcf as of Friday, September 12, 2025, according to EIA estimates. This represents a net increase of 90 Bcf from the previous week. Stocks were
(Oil Price) – Chevron and state-owned Israel Natural Gas Lines Ltd have signed an agreement to build a natural gas pipeline from Israel’s giant Leviathan gas field to Egypt, Leviathan project participant NewMed Energy has said. Chevron’s unit Chevron Mediterranean Limited, the operator of the Leviathan Project, agreed with Israel Natural Gas Lines to provide transmission services for the flow of natural
