(BOE Report)– U.S. oil and gas producers in search of fresh drilling territory are looking to expand in Western Canada’s Montney basin, a remote yet massive shale play that is already a hotbed of M&A activity and could see more deals soon, according to executives, analysts and advisors. Extensive drilling in U.S. shale fields over the past 15 years or
(Investing)– The European Parliament voted on Wednesday to approve the European Union’s plan to phase out Russian gas imports by late 2027. The approval marks a significant step forward for the initiative, which now faces just one remaining legal hurdle before becoming law. The Russian gas ban still requires formal approval from EU countries’ ministers, with that vote expected to
(Investing) – U.S. power consumption is projected to reach record levels in the next two years, according to the Energy Information Administration’s short-term energy outlook released Tuesday. The EIA forecasts power demand will climb to 4,199 billion kilowatt-hours in 2025 and further increase to 4,267 billion kWh in 2026, up from the 2024 record of 4,110 billion kWh. This surge in
(World Oil) – Equinor and Aker BP have announced a new gas and condensate discovery in the North Sea after drilling two exploration wells at the Lofn and Langemann prospects, marking a promising start for Production Licence 1140. The wildcat wells—15/5-8 S and 15/5-8 A—were drilled about 7 km north of the Eirin field and roughly 240 km west of Stavanger using Odfjell Drilling’s Deepsea
(World Oil) – The National Petroleum Council (NPC) has released the first two reports in its Future Energy Systems series, outlining a suite of reforms aimed at strengthening U.S. energy reliability as electricity demand accelerates. The reports—requested by U.S. Energy Secretary Chris Wright—call for streamlined permitting, clearer accountability frameworks, and improved coordination between natural gas and electric market regulators. NPC Chair
(BOE Report)– U.S. liquefied natural gas company Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday in a sign that one of its three liquefaction trains has returned to service after shutting on Thursday, LSEG data and regulatory filings show. Freeport is one of the world’s most closely watched U.S. LNG export
(World Oil) – TotalEnergies has signed a €5.1 billion ($5.5 billion) all-stock agreement to acquire a 50% stake in EPH’s flexible power generation platform, marking one of the company’s most significant moves yet to scale its gas-to-power integration strategy across Europe. The transaction creates a 50/50 joint venture holding more than 14 GW of flexible generation capacity — including gas-fired plants,
(Oil Price) – The highly focused development of the U.S.’s shale oil and gas sectors from the early 2010s transformed it from one of the world’s biggest importers of both into one of its leading exporters of both. But it did much more than this: it reversed the balance of energy power in the world from where it had been
(BOE Report)– Alaska LNG, majority owned and developed by Glenfarne Alaska LNG, LLC (Glenfarne), and Baker Hughes (NASDAQ: BKR), an energy technology company, today announced a strategic alliance to advance the Alaska LNG Project. Glenfarne has selected Baker Hughes as its supplier for main refrigerant compressors for the LNG terminal and power generation equipment for the North Slope gas treatment
(Oil Price)– Nigeria could tap 1.7 billion barrels in new oil supply as well as 7.7 trillion cu ft of natural gas after the approval of 43 field development plans this year. The figures were reported by the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, as quoted by Nigerian media. The executive added that the field plans involved
(Oil Price)– Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, booked a 17.8% decline in its net profit for the July-September quarter compared to a year earlier as lower oil prices dented crude realizations. ONGC reported $1.11 billion (98.5 billion Indian rupees) in standalone net profit for the second
(Oil Price)– ExxonMobil is expanding its exploration portfolio offshore Greece with a new farm-in agreement for a block in the northwestern Ionian Sea. ExxonMobil, Energean, and Helleniq Energy have reached a farm-in agreement under which the U.S. supermajor will buy 60% in the Block 2 concession in the northwestern Ionian Sea, next to the Italian Exclusive Economic Zone (EEZ), Energean said on
