(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
(World Oil) – Comstock Resources Inc. reported higher third-quarter earnings on improved natural gas prices and continued strong drilling results in the Haynesville and Bossier shales, while moving forward with the sale of its Shelby Trough assets for $430 million (USD). Natural gas and oil sales, including hedging gains, rose to $335 million, generating $190 million in operating cash flow.
(Oil Price) – Concern has been rising that artificial intelligence is killing jobs, and there is evidence to support this. But in the energy industry, executives are loving AI. A fifth of energy companies are already using the technology, and an overwhelming majority of executives believe AI is a force for good. For energy, it has been. AI is driving energy demand much
(Oil Price) – The world’s electricity demand is expected to surge by 30% over the next decade as data centers, electric vehicles, and demand for heating and cooling drive increased consumption, a new report by Rystad Energy says. Renewable power generation, especially solar energy, is expected to be crucial to meeting the electricity demand growth, found the report cited by Bloomberg. Renewable
(Oil Price) – Saudi Arabia has awarded one wind power and four solar power projects in the country worth a total estimated investment of $2.4 billion (9 billion Saudi riyals), the official Saudi Press Agency reports. Saudi Power Procurement Company, the principal buyer of the projects, awarded the five projects with a total capacity of 4.5 gigawatts (GW), as part of the
(Oil price)– Iraq signed on Tuesday a contract with U.S. company Excelerate Energy for the country’s first floating gas platform, the office of the Iraqi Prime Minister said, as OPEC’s second-largest oil producer aims to strengthen its gas supply and energy security. As part of the agreement, Excelerate Energy will provide a floating storage regasification unit (FSRU) that will be
