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Gas And Oil News

17 Mar 2024

Esgian Week 11 Report: New Discoveries in UK and Namibia

Source: COSL

Esgian reports that drilling contracts have been announced this week for operations in Brazil and the Philippines, and new discoveries have been confirmed in the UK and Namibia in its Week 11 Rig Analytics Market Roundup.ContractsCOSL Drilling has emerged as the winner for Petrobras' moored semisubmersible tender with the 4,600-ft Nanhai 8 (also known as Nan Hai Ba Hao).Noble has secured a high-dayrate drillship contract with Prime Energy in the Philippines.Drilling Activity and…

16 Nov 2023

Energy Transfer, TotalEnergies Pen Deal for Crude Oil Offtake from Blue Marlin Offshore Port

Blue Marlin Offshore Port Project Map - Credit: MARAD

Energy Transfer LP has entered into a non-binding Heads of Agreement (HOA) with TotalEnergies related to term crude oil offtake from its proposed Blue Marlin Offshore Port for 4 million barrels per month. The HOA is subject to the negotiation and execution of definitive agreements and the satisfaction of other conditions, including Energy Transfer taking a final investment decision on the project, expected to be developed in the Gulf of Mexico, offshore Cameron Parish, Louisiana…

18 Sep 2023

Ørsted CEO Says US Offshore Wind Targets Still Possible But Not Easy

Ørsted CEO Mads Nipper (Photo: Ørsted)

U.S. President Joe Biden's plan to deploy 30,000 megawatts (MW) of offshore wind by 2030 is still possible, although not easy, the CEO of Ørsted, the world's largest offshore wind developer, said on Monday at the Climate Week NYC event in New York.The remarks by Ørsted CEO Mads Nipper come as soaring costs and supply chain delays have increasingly cast doubt on the Biden administration's goal, a cornerstone of its plan to fight climate change. The Danish company said at the end of August that it may see U.S.

15 Jun 2023

Kremlin Urges Faster Action to Let Foreign Vessels Use Northern Sea Route

Credit: Silver/AdobeStock

A Kremlin aide urged the Russian government on Thursday to adopt legislation allowing foreign-flagged vessels to use the Northern Sea Route (NSR), which Moscow wants to turn into a new Suez Canal.The NSR runs from Murmansk near Russia's border with Norway eastwards to the Bering Strait near Alaska.Although the route is physically challenging, it could cut sea transport times between Europe and Asia at a time when Russia's trade with Western countries is at post-Cold War lows following Moscow's decision to send troops into Ukraine."We have been left without transit routes.

10 May 2023

MODEC to Deliver Highly Complex FPSO for Equinor's $9B Project Offshore Brazil

Credit: MODEC

Japanese FPSO supplier MODEC has won a contract with Equinor to supply an FPSO vessel for the BM-C-33 block of the Campos Basin offshore Brazil. The order comes just days after Equinor and its partners Repsol Sinopec Brasil, and Petrobras took the $9 billion investment decision to develop the BM-C-33 project in Brazil. Located in the Campos Basin, BM-C-33 comprises three different pre-salt discoveries – Pão de Açúcar, Gávea and Seat – containing natural gas and oil/condensate…

24 Apr 2023

Russian ‘Spy Ship’ in the North Sea Raises Concerns About Maritime Infrastructure Security

"Spy Ship": Russian oceanographic research vessel Admiral Vladimirsky (File photo: Ministry of Defense of the Russian Federation)

A new documentary produced by a consortium of public broadcasters in Sweden, Denmark, Finland and Norway has revealed what appears to be a profound threat to maritime and undersea energy and data infrastructure in the North Sea and the Baltic region. The Shadow War includes footage of a Russian research vessel called Admiral Vladimirsky allegedly collecting data on windfarms, gas pipelines, power and internet cables.The film, which has been widely reported in the UK press this week, asserts that Russia is systematically mapping the vulnerabilities of maritime infrastructure in the North Sea.

29 Dec 2022

Japan Insurers to Continue Offering War Coverage for LNG Shippers in Russian Water

© Carabay / Adobe Stock

Japanese insurers are expected to continue providing marine war insurance which covers the sinking and requisition of ships due to war in Russian waters after Jan. 1, the Nikkei daily said on Thursday.Japan's Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance told shipowners last Friday that from Jan. 1 they would stop offering insurance coverage for ship damage caused by war in Russian waters, because reinsurers were withdrawing coverage.

27 Dec 2022

Japan Insurers in Talks with Reinsurers to Resume Coverage in Russian Waters

Credit:  Evgeny/AdobeStock

Three Japanese insurance companies that are set to halt marine coverage of risks related to the war in Ukraine starting next month are in talks with reinsurers to resume those operations, they said on Monday. Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance on Friday told shipowners that they would stop offering marine war insurance, which covers damage to ships from war in Russian waters, from Jan. 1, spokespeople at the companies said. Their comments confirmed local media reports on Saturday.

03 Nov 2022

German Navy Helping Norway Protect Offshore Oil Rigs, Pipelines

German Navy ships next to Troll A platform in Norway. ©German Navy

The German navy is helping Norway to protect critical maritime infrastructure such as oil rigs, undersea cables, and pipelines, and is ready to do the same off the Danish and Swedish coasts, its head said on Thursday. Bordering Russia in the north, Norway is Europe's biggest producer of natural gas and oil and has an extremely long coast that is hard to protect. It operates an extensive network of pipelines that connect the country with Britain and Europe. NATO has pledged to…

14 Jul 2022

Hezbollah: 'No one' will Extract Gas From Maritime Zones if Lebanon Unable To do So

Energean Power en route to the Karish field - Credit: Energean, via Israel Energy Ministry

The head of powerful armed group Hezbollah warned on Wednesday that "no one" would be allowed to operate in maritime oil and gas fields if Lebanon was barred from its "rights" in extracting from areas off of its own coast."If you don't give us the rights that our state is asking for ... then we could flip the table on everyone," Sayyed Hassan Nasrallah said in a televised address."If you want to get to a formula where this country is barred from taking advantage (of these fields)…

08 Jul 2022

Asia Spot LNG Prices Rise on Uncertainty over Nord Stream, Japan Supplies

Asian spot liquefied natural gas (LNG) prices jumped this week on fears of possible Russian supply disruptions to Japan and on rising demand due to a heatwave and concerns over the return of the Nord Stream pipeline after its planned 10-day maintenance.The average LNG price for August delivery into north-east Asia was estimated at $41 per million British thermal units (mmBtu), up $2, or 5.1%, from the previous week, industry sources said.This is the highest level seen in four…

01 Jul 2022

Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices

File Photo: Sakhalin Energy

Russia announced on Friday a decree that seizes full control of the Sakhalin-2 gas and oil project in the country's far east, a move that could force out Shell and Japanese investors and adds another bullish factor to prices in a tight global LNG market.The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell SHEL.L and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%. Japanese…

06 May 2022

Germany to Help Eastern EU States Without Ports Access LNG - Scholz

©karel/AdobeStock

Germany will show solidarity with European Union countries seeking alternatives to Russian gas and oil, for example helping eastern states without ports in the North or Baltic Seas access liquefied natural gas (LNG), Chancellor Olaf Scholz said on Thursday.Speaking after meeting with Czech Prime Minister Petr Fiala, Scholz said many countries faced an even bigger challenge than Germany in reducing reliance on Russian energy imports.Russian gas imports that arrive via pipeline account for more than 90% of gas consumption in the Czech Republic…

02 May 2022

Petrobras Starts Oil and Gas Production from First of Four Mero Field FPSOs

Credit: Petrobras

Oil and gas production has started from FPSO Guanabara offshore Brazil, the first definitive production system installed in the Petrobras-operated Mero field, in the Santos Basin pre-salt. Three more FPSOs are planned for deployment at the Mero field.The Mero field has been in pre-production since 2017 with the 50,000 barrels of oil per day Pioneiro de Libra FPSO.The Guanabara FPSO is capable of processing up to 180 thousand barrels of oil and 12 million m3 of gas, which represents 6% of the production operated by Petrobras…

17 Mar 2022

US Approves More Exports from Major LNG Terminals

© scandamerican / Adobe Stock

The Biden administration said on Wednesday it had authorized additional exports of liquefied natural gas from two major facilities on the U.S. Gulf Coast, in a move that could help Europe deal with an energy crunch worsened by Russia's invasion of Ukraine.The Department of Energy (DOE) issued approvals allowing major supplier Cheniere Energy to export the equivalent of 0.72 billion cubic feet per day (bcfpd) of the supercooled fuel from its Sabine Pass, Louisiana and Corpus Christi…

08 Mar 2022

Kawasaki Heavy Industries, Others Say Tanker Pilot Shows Coal to Hydrogen Plan Feasible

Credit: HESC (File photo)

Kawasaki Heavy Industries (KHI) and other Japan-based firms said on Tuesday that a pilot project to transport hydrogen produced from brown coal in Australia to Japan in the world's first liquefied hydrogen tanker had proven technically feasible.While hydrogen is widely touted as a fuel of the future with zero carbon emissions, it requires intensive energy input, with renewables to produce "green hydrogen". Critics say emissions from brown coal-derived hydrogen are twice that of natural gas.The A$500 million ($364 million) project…

20 Jan 2022

Suiso Frontier: World's First Hydrogen Tanker to Ship Test Cargo from Australia to Japan

The Suiso Frontier. Photo courtesy of HySTRA (File photo)

Japanese-Australian venture producing hydrogen from brown coal is set to ship its maiden cargo on the world's first liquid hydrogen carrier from near Melbourne to Kobe on Friday, in a test delayed by nearly a year because of the COVID-19 pandemic.The Suiso Frontier, built by Japan's Kawasaki Heavy Industries (KHI), arrived on Friday from Kobe, in southern Japan, following a longer trip than the expected 16 days as the owners sought to avoid bad weather and rough seas, said a spokesperson for the venture…

22 Oct 2021

Italian Bank Could Fund Novatek's Giant Arctic LNG 2 Project

File image: Novatek

Italy's biggest banking group Intesa Sanpaolo could help fund Novatek's Arctic LNG 2 project even as some European governments show lukewarm support for the giant Russian gas project."We are studying the dossier ... though no decision has as yet been taken," Antonio Fallico, chairman of group unit Banca Intesa Russia, told Reuters on Wednesday.Fallico said the bank had been invited to look at the financing deal by SACE, the state-owned Italian export credit agency."If the bank decides this project does not breach our policy in some way we'll do it…

24 Aug 2021

Five Dead, Six Injured in Pemex Offshore Platform Fire

Illustration only -  A platform in the Gulf of Mexico - Credit: Quimey/AdobeStock

Five workers were killed and six injured in Sunday's fire on an offshore platform in the southern Gulf of Mexico operated by Petroleos Mexicanos (Pemex) that cut about a quarter of Mexico's oil production, the company said on Monday.The fire broke out as crews were performing maintenance on the platform, and a search for missing workers continues, Pemex Chief Executive Octavio Romero told a news conference.The platform remains out of operation, with about 421,000 barrels per day of oil lost and 125 wells offline, he said.

27 May 2021

Tellurian to Sell LNG to Gunvor, Delays Louisiana Project Start

© Wojciech Wrzesień / Adobe Stock

U.S. liquefied natural gas (LNG) developer Tellurian Inc said on Thursday it signed a 10-year agreement with commodity trader Gunvor Group for 3 million tonnes per annum (MTPA) of LNG.Tellurian shares soared around 24% on the news to their highest since February.In addition, Tellurian released a presentation that said its proposed Driftwood export plant in Louisiana was positioned for first quarter 2022 commerciality.Analysts at Cowen & Co said in a note that meant Tellurian pushed…

07 Apr 2021

VIKAND Hires Holmes as Director of Business Development

Russ Holmes (Photo: VIKAND Solutions)

Maritime medical operations and public health provider VIKAND Solutions, LLC said it has appointed Russ Holmes as director of business development.Perhaps best known for providing end-to-end medical solutions to the cruise industry for its guests and crew, the company said bringing Holmes onboard positions it to further extend its medical best practices and results to the global maritime industry, including commercial shipping, private islands, the gas and oil energy sector, and the yachting market.“To this newly created role at VIKAND…

13 Jan 2021

Maritime Security: Neo-colonialism in the Gulf of Guinea

© Lucia / Adobe Stock

Is neo-colonialism in the Gulf of Guinea the answer to West Africa’s maritime crime crisis?In October 2020, China’s transport ministry established an ad hoc workgroup to lay down precautionary measures for ships and seafarers passing through high piracy risk West African waters.The move came as China told its vessels to up vigilance and implement a series of precautionary measures to ensure the security of ocea-going vessels and seafarers amid rising attacks and a surge in kidnaps in the Gulf of Guinea.Plans outlined by Wu Chungeng…

12 Jan 2021

Norway Eyes Sea Change in Deep Dive for Metals Instead of Oil

An offshore platform in Norway - Credit:Jone Gundersen/AdobeStock

Norway's oil and gas reserves have made it one of the world's wealthiest countries but its dreams for deep-sea discovery now center on something different.This time, Oslo is looking for a leading role in mining copper, zinc, and other metals found on the seabed and in hot demand in green technologies.Norway could license companies for deep-sea mining as early as 2023, its oil and energy ministry told Reuters, potentially placing it among the first countries to harvest seabed metals for electric vehicle batteries…