Oil and Gas News

The United States is gearing to pronounce additional sanctions on Iran’s oil sales any times from now, according to a tweet by Bloomberg TV’s Annmarie Hordern. A new round of sanctions from the United States on Iran’s oil exports—what…

………As It Prioritizes Climate Strategy French energy giant, TotalEnergies has unveiled plans to spin off its oil sands investment in Canada, and enlist on the stock exchange. The company said at an investor presentation yesterday that…

………As Inflation Hits Double Digits Germany yesterday announced a €200 billion ($195bn) bailout plan to protect residents and businesses in the country from the fallout of the spiraling Europe's energy crisis.The announcement by the…

A global alliance of countries with climate action and sustainable development as priorities was launched at the World Green Economy Summit in Dubai on Wednesday. The alliance, which involved about 25 ministers and officials, is…

US President, Joe Biden has called on oil companies to charge less for petrol at the pumps. Although US petrol prices have fallen from the highs of this summer, they are clearly still weighing on Mr. Biden. “Last month, the price of oil…

A new government report has said that the value of Egypt’s natural gas exports has increased 13-fold in the last eight years.The report published by the Egyptian Cabinet’s Media Centre, said the country exported $8 billion worth of natural…

Global-effect developments in Europe since the year have triggered a surge in LNG prices. And experts say a major, yet weird, outcome is that the international market for the fuel has concentrated in the hands of several large players,…

Fire from a gas pipeline explosion in the Mexican state of Tabasco late on Tuesday has led to evacuation of all workers the Paredon Hydrocarbon Separation Station.The pipeline belonged to Mexico's state-owned oil firm Pemex. There were no…

Thousands of people turned into the streets in Brussels yesterday protesting against soaring electricity prices and general cost of living.The protests in the Belgian capital followed a similar protest the day before in Slovakia, and…

The African Development Bank (AfDB) Group has approved a $20 million concessional fund to support the second phase of the Covid-19 Off-Grid Recovery Platform (CRP).The CRP is a blended finance initiative to unlock private capital for…

……. Urges developed economies to tax windfall profits of fossil fuel firms UN secretary-general, Antonio Guterres has accused the fossil fuel industry of "feasting" on billions in subsidies and windfall profits as "our planet burns."In…

World’s second-largest steelmaker, ArcelorMittal has announced a plant closure in Europe due to soaring gas and energy prices. The company said in a statement that it is shutting down one of its two blast furnaces at its steelworks site…

...This is not a bluff – he warnsOil prices rallied early today after Russian President Vladimir Putin said his country was calling up its army reserves in a “partial mobilisation” before referendums in occupied regions in Ukraine.Putin…

Germany has said that gas storage sites in the country, which are now nearly 90% full, will be empty after the winter. The country’s economy minister, Robert Habeck said yesterday that gas storage capacity in Germany is almost 90% full,…

ShaMaran Petroleum has bought French energy company, TotalEnergies 18% stake in the Sarsang onshore oilfield in the Kurdistan region of Iraq for $155 million. An additional “contingent consideration” of $15m is also payable in the…

China’s National Bureau of Statistics (NBS) has reported that in August, China's refinery crude throughput was at 12.64 million barrels per day (bpd), down by 6.5% compared to August 2021Reports say the level remained close to the levels…

Last week, Energy giants, Shell announced that its chief executive officer, Ben van Beurden will step down at the end of 2022 and that his successor will be the company's renewables director.Who is this Shell’s chief executive officer ?…

Energy giants, Shell has announced that its chief executive officer, Ben van Beurden will step down at the end of 2022 and that his successor will be the company's renewables director. Financial Times said in a report that preparations…

Germany is on the way to nationalizing its biggest gas importer, Uniper. Reports said the German government may increase its stake in Uniper SE above 50% and is open to taking the historic step of fully nationalizing the country’s biggest…

OPEC has said that world oil demand growth remained pegged at “a healthy” 3.1 million barrels per day rise in 2022, including the recent additional oil demand growth due to fuel-switching in power generation. In its monthly market…