Shipping & LogisticsIndustry news
Oil Surges as Iran Tanker Attacks Escalate
Crude posted its biggest gain in a month amid Middle East tensions and hurricane-related production cuts.
Search
Find reporting by keyword, section, company or publication date.
60 results
Search results
Oil & Fuel OilIndustry news
Brent Back Above $100 as Houthis Hit Saudi Infrastructure
Crude oil prices, which dipped on Tuesday, reversed their direction, with Brent ticking above $100 again earlier today following reports of fresh Houthi attacks on Saudi energy infrastructure. At the time of writing, Brent crude was trading at $101.49 per barrel and West Texas Intermediate was changing hands for $90.14 per barrel, despite a statement from Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, who said Tuesday the kingdom’s oil flows via the Rast-West pipeline had rebounded to 5.8 million barrels daily. The statement…
EnergyIndustry news
Getting Oil Through Hormuz Is a Risky Job
The transits are a lifeline to gulf energy producers and a boon to shipowners and commodity traders who stand to reap billions of dollars from the trade.
Oil & Fuel OilIndustry news
Iranian Oil Starts Flowing to Tajikistan Despite U.S. Sanctions Risk
Tajikistan announced that it is now receiving oil and petroleum products from Iran, opening a potential new energy source for a country whose fuel supplies have long been dominated by Russia. The deliveries began in late August, Tajikistan's Energy and Water Resources Ministry told the Asia-Plus news agency, following talks between the two countries on expanding cooperation in the oil and gas sector. The ministry has not disclosed the volume of the shipments, their commercial terms, or how the oil and petroleum products were transported to Tajikistan.…
Shipping & LogisticsIndustry news
New research shows how regulation could reshape shipping
Amid regulatory uncertainty, there is one key challenge to ensuring shipping meets its decarbonization goals: making the right decisions today. DNV’s latest edition of Maritime Forecast to 2050 explores how different scenarios could reshape fuel demand, investment decisions, and decarbonization pathways, helping shipowners to navigate uncertainty and build resilient fleets. Shipping’s energy transition has entered ...
EnergyIndustry news
Petrobras locks in 20-year US supply from Sempra’s LNG project in Lone Star State
Brazil’s state-owned energy giant Petrobras has struck a two-decade-long deal with Sempra Infrastructure, a subsidiary of Sempra, for the supply of liquefied natural gas (LNG) from a U.S. project under development in Jefferson County, Texas. The post Petrobras locks in 20-year US supply from Sempra’s LNG project in Lone Star State appeared first on Offshore Energy .
Oil & Fuel OilIndustry news
China Could Curb Fuel Exports as Diesel and Gasoline Stocks Sink
China’s diesel fuel and gasoline inventories are declining, which may eventually lead to the imposition of export curbs, Bloomberg has reported, citing recent fuel inventory data. Gasoline inventories at state-owned energy majors were down by 2.9% last week to their lowest level since 2022, according to Chinese commodity market research firm JLC International. Diesel inventories are sitting at the lowest in 15 months, booking a 2.4% dip last week, the publication noted. “With the domestic market tightening, we see an increasing risk…
Shipping & LogisticsIndustry news
Shipping: The EU ETS and the Energy Complex
The EU ETS is expected to keep impacting shipping both in the near and in the long term, following the latest gas price increases. In its latest weekly report, shipbroker Intermodal said that “the EUA market maintained its upward trend in August, despite the quieter trading conditions and lower liquidity that typically characterize the holiday ...
Oil & Fuel OilIndustry news
Washington’s Venezuela Oil Deal Is About Much More Than Crude
Washington’s takeover of more than a fifth of Venezuela’s oil reserves in a deal officially signed by U.S. Energy Secretary Chris Wright on 2 September was as unexpected as it was dramatic, with President Donald Trump’s comment a few days earlier that it is “the biggest oil deal in world history” looking justified from several perspectives. From a pure volume standpoint, the deal covers 65 billion barrels of proven crude oil reserves (out of Venezuela’s total 303 billion barrels) across 17 fields. To put that…
EnergyIndustry news
This Cattle Feedlot Turns Manure Into 1.2 Million MMBtu of Natural Gas a Year
A new project is seeking to turn cattle manure into a source of sustainable natural gas for energy production and shipping fuel. The initiative just broke ground in Broken Bow, Nebraska, where eight anaerobic digesters will process waste from the Adams Land & Cattle feedlot into what the project leads are hoping will be a lucrative and eco-friendly source of approximately 1.2 million MMBtu of pipeline-quality natural gas per year. “The Adams Land & Cattle RNG facility demonstrates how American agriculture can play an important role…
EnergyIndustry news
America Is Betting Big on a New Generation of Small Nuclear Reactors
Governments worldwide are racing to develop small modular reactors (SMRs) as part of their plans for a nuclear power renaissance, with significant progress being seen in recent years. However, the United States appears to be leading the way in nuclear microreactor development, with significant investment in the technology recently announced by the U.S. Army. SMRs are advanced nuclear reactors with a power capacity of up to 300 MW(e) per unit, or around one-third of the generating capacity of a conventional nuclear reactor. They are much smaller…
Oil & Fuel OilIndustry news
Citadel Eyes U.S. Shale as Oil Trading Moves Closer to the Wellhead
Citadel is shopping for U.S. oil production assets, including a previous bid for WildFire Energy before Magnolia Oil & Gas agreed to buy the Eagle Ford producer for $4.06 billion. Reuters reported Friday that the hedge fund and commodities trader has held talks with several private-equity owners of oil-weighted exploration and production companies in recent weeks. WildFire would have given Citadel roughly 53,000 barrels of oil equivalent per day of production, about 70% of it oil, plus 810,000 net acres in South Texas. Magnolia ultimately won…
Oil & Fuel OilIndustry news
Ukraine Pushes Congress for Russia Sanctions Before Election Recess
Ukraine’s top sanctions official says he remains optimistic about prospects for a sweeping Russia sanctions bill in the US Congress despite growing uncertainty over when the House of Representatives will take it up, as lawmakers face a sharply shortened legislative calendar ahead of the November elections. Vladyslav Vlasiuk, Ukrainian President Volodymyr Zelenskyy’s sanctions commissioner, spent this week in Washington meeting lawmakers and congressional staff as Kyiv presses Congress to advance the Lindsey O. Graham Sanctioning Russia…
Shipping & LogisticsIndustry news
Global Marine Energy Leaders to Gather at IBIA Annual Convention 2026
IBIA – The International Bunker Industry Association will bring together leading figures from across the global marine energy and shipping industries at its 2026 Annual Convention, taking place 10–12 November at the New York Marriott Downtown. The Convention will address the key issues shaping the marine fuels sector, including regulation and policy, fuel quality, alternative ...
Oil & Fuel OilIndustry news
High Oil Prices Speed Up China’s Shift Away From Crude
China’s oil consumption fell 9% year over year in the second quarter as expensive crude accelerated the use of electric cars, trucks, rail and industrial equipment. The decline helped cut China’s carbon dioxide emissions by 1% during the quarter, according to an analysis by the Centre for Research on Energy and Clean Air. It was the first quarterly emissions decline in China driven primarily by lower oil consumption. Power-sector emissions rose 3% during the same period as coal-fired generation increased. Electric vehicles displaced…
Oil & Fuel OilIndustry news
Food Inflation Jumps as Higher Energy Costs Hit UK Retailers
Shop price inflation has hit a two-year high and is set to climb through the autumn as a surge in energy and commodity costs filters through to consumers, a top business group has found. The British Retail Consortium (BRC), which represents major supermarkets and high street shops across the UK, warned that shop price inflation increased to 1.5 per cent in the year to August. The higher rate of price rises compares to a rise of 0.9 per cent in the year to July and a three-month average of 1.2 per cent. Shop price inflation was at the…
MarketsIndustry news
Shell’s technology set to enter wider FLNG market through Wison deal
China-based provider of clean energy services Wison New Energies (WNE) has joined forces with the UK-headquartered energy giant Shell to bring the European firm’s liquefaction technology to the wider liquefied natural gas (LNG) market for the first time, strengthening Wison’s floating LNG (FLNG) offering and aiming to accelerate deployment of next-generation FLNG projects. The post Shell’s technology set to enter wider FLNG market through Wison deal appeared first on Offshore Energy .
EnergyIndustry news
Sapphire Acquires EDGE in Modular LNG Solutions Expansion
'The acquisition of EDGE expands Sapphire's LNG capabilities by adding approximately 200,000 gallons of daily LNG liquefaction capacity through modular equipment currently serving clients in the Southern U.S.'
MarketsIndustry news
Venezuela Weighs OPEC Exit
Venezuela is considering whether it should quit OPEC, according to people familiar with the matter.
EnergyIndustry news
L&T taps Technip Energies for engineering work on ADNOC’s major offshore gas project
France’s engineering player Technip Energies has been hired to provide detailed engineering services for a […] The post L&T taps Technip Energies for engineering work on ADNOC’s major offshore gas project appeared first on Offshore Energy .
Shipping & LogisticsIndustry news
Futura combines marine engineering, cable logistics and vessel services
The company brings engineering, specialist personnel, equipment and port infrastructure together under one operating […] The post Futura combines marine engineering, cable logistics and vessel services appeared first on Offshore Energy .
Shipping & LogisticsIndustry news
Four shipowners co-order vessels in record-breaking VINGA series: “The right time to invest”
Four shipping companies from Sweden, Norway, and Canada see a bright future in the European intermediate tanker market and are ordering four new VINGA ships — taking the series, developed by Furetank, to a remarkable 26 vessels. The new investment was announced on Friday in conjunction with the naming ceremony for FURE VASA, a newly ...
Shipping & LogisticsIndustry news
TotalEnergies cuts final ties with Arctic LNG 2
French energy major TotalEnergies has transferred its stake in Novatek’s Arctic LNG 2 project to NordLine. The company confirmed it has completed the transfer of its 10% interest in the project to Novatek’s subsidiary, NordLine. After this transfer, TotalEnergies has no remaining stake in the Arctic LNG 2 project. Originally, Novatek owned a 60% stake,
Shipping & LogisticsIndustry news
Ningbo Marine maps out five-ship bulker expansion
Shanghai-listed Ningbo Marine is lining up another five bulk carrier newbuildings in China, expanding a fleet renewal programme that could see the owner add close to 600,000 dwt of fresh tonnage. The Zhejiang Energy-backed company has approved up to CNY980m ($136m) for four 65,000 dwt bulkers, while wholly owned Ningbo Marine Singapore has been cleared …
EnergyIndustry news
TGS secures encore for giant seismic campaign off Indonesia’s coast
Norwegian energy data and intelligence company TGS is staying longer on a seismic acquisition campaign off the coast of Indonesia, which extends work aboard its 2008-built vessel and reinforces the company’s revenue visibility. The post TGS secures encore for giant seismic campaign off Indonesia’s coast appeared first on Offshore Energy .
EnergyIndustry news
Analysts Examine Latest USA Measures Against Iran
Analysts at Rystad Energy and Skandinaviska Enskilda Banken AB have examined the U.S. administration's latest measures against Iran.
Shipping & LogisticsIndustry news
Jiahua Energy enters shipping with CIMC SOE newbuild
Chinese chemicals and energy group Jiahua Energy is moving into shipowning with an order for a 35,000 cu m carrier from CIMC Sinopacific Offshore & Engineering. The company has capped total investment in the vessel and pre-operating costs at CNY750m ($111m). Jiahua subsidiary Meifu Port & Storage will fund 60%, with three partners covering the …
EnergyIndustry news
BW LNG builds on 174k LNG carrier workhorse with 177k cbm three-tank design
BW LNG, a liquefied natural gas (LNG) shipping company that is part of Singapore-based BW Group, has shed more light on its move that pushes LNG carrier capacity beyond the conventional 174,000-cubic-meter (cbm) design with a new 177,000-cbm, three-tank configuration, described as being able to carry more cargo while retaining the flexibility and terminal compatibility of the established vessel class. The post BW LNG builds on 174k LNG carrier workhorse with 177k cbm three-tank design appeared first on Offshore Energy .
Oil & Fuel OilIndustry news
EC approves CMA CGM and TotalEnergies’ ARA-based LNG bunkering JV
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
EnergyIndustry news
Ventyr postpones North Sea offshore wind project
Norway’s Ministry of Energy has granted Ventyr a 12-month extension to complete its impact assessment and submit a licence application for the Sørlige Nordsjø II offshore wind project, pushing the deadline to October 15, 2027. Ventyr, a joint venture between JERA Nex BP and Ingka Investments, won the allocation for the 1.5GW scheme in March …
Oil & Fuel OilIndustry news
Indian Minister attends ground-breaking ceremony for Mauritius bunkering facility and inks MoU to strengthen energy ties
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
Shipping & LogisticsIndustry news
Commodity Vessel Transits Through Strait of Hormuz Hit Three-Month Low, Data Shows
Just two tankers transited the key energy chokepoint of the Strait of Hormuz on Monday, for the lowest daily tally of commodity vessels since early May, with both entering the Gulf, shipping data showed.
Shipping & LogisticsIndustry news
Malacca Strait States Will Keep Waters ‘Free, Open and Safe’
Indonesia, Malaysia and Singapore — countries that share the primary stewardship of the Strait of Malacca — said on Tuesday they were committed to keeping the narrow corridor and the waters around it “free, open and safe for international shipping.”
EnergyIndustry news
Equinor, Aker BP, Var Energi to Jointly Pursue Bigger NCS Opportunities
The Norwegian trio announced a collaboration to explore the largest remaining reserves in the country's waters to sustain production as existing developments become depleted.
EnergyIndustry news
Viridien embarks on first hybrid streamer-OBN 3D seismic survey in Asia-Pacific
France-based geophysical services company Viridien, formerly known as CGG, has kicked off the first-ever combined streamer and sparse ocean bottom node (OBN) multi-client 3D seismic survey in the Asia-Pacific region. The post Viridien embarks on first hybrid streamer-OBN 3D seismic survey in Asia-Pacific appeared first on Offshore Energy .
Shipping & LogisticsIndustry news
cargo-partner flags H1 CO₂e emissions reduction through Hapag-Lloyd’s ‘Ship Green’ solution
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
Oil & Fuel OilIndustry news
Bunker companies targeted in new US sanctions campaign against Iran
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
EnergyIndustry news
Sea Lion roars into Falklands expansion as Navitas reels in second FPSO
Navitas Petroleum, an Israeli oil and gas producer and developer that operates a project under development in the North Falkland Basin, is stepping up plans to expand its oil field project in the Falkland Islands through the acquisition of a second floating production, storage, and offloading (FPSO) vessel that could boost daily oil output capacity by thousands of barrels. The post Sea Lion roars into Falklands expansion as Navitas reels in second FPSO appeared first on Offshore Energy .
Oil & Fuel OilIndustry news
Equinor Eyes Major Oil Discovery Offshore Namibia
Norway’s energy major Equinor hopes to make a “pretty big” oil discovery offshore Namibia, the global exploration hotspot it has just entered, a senior company official said on Tuesday. Equinor hopes that the Petroleum Exploration License 90 (PEL 90) offshore Namibia could hold a big discovery similar to those TotalEnergies and Galp have made in recent years in the same Orange basin, Philippe Mathieu, Executive Vice President, Exploration & Production International, at Equinor, told reporters on the sidelines of an energy…
EnergyIndustry news
Arabian Drilling set to kick off rig ops offshore Oman before quarter-end
Arabian Drilling, described as Saudi Arabia’s largest onshore and offshore drilling contractor by fleet size, has expanded its footprint in the Gulf Cooperation Council (GCC) with a multi-well assignment off the coast of Oman. The post Arabian Drilling set to kick off rig ops offshore Oman before quarter-end appeared first on Offshore Energy .
EnergyIndustry news
WATCH: North Sea decom campaign retires trio of gas wells in UK waters
Spirit Energy, a North Sea operator, has finished a multimillion-dollar decommissioning campaign in the UK sector of the North Sea, plugging and abandoning (P&A) three gas wells that have reached the end of their productive lives and removing more than 234 tons of subsea infrastructure. The post WATCH: North Sea decom campaign retires trio of gas wells in UK waters appeared first on Offshore Energy .
Shipping & LogisticsIndustry news
U.S. MARAD and CORE POWER developing co-operation framework to spur nuclear-powered merchant shipping
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
Oil & Fuel OilIndustry news
China’s Top Refiner Seeks Transformation amid Falling Fuel Sales
The world’s biggest oil refiner, China’s state-held Sinopec, is looking to transform its business as domestic fuel sales crumble amid the electric vehicle boom. China Petroleum & Chemical Corporation, as Sinopec is officially known, will be allocating more capital to new energy and chemicals by the end of the decade to grow revenues and profits amid the lowest domestic fuel sales in China in nearly a decade. “As the company grows in scale, its ability to respond to market changes becomes inadequate, and the 'big company syndrome'…
Shipping & LogisticsIndustry news
Port of HaminaKotka and ABB start cooperation on new shore power project
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
Shipping & LogisticsIndustry news
Hoppe Marine and AVL team up on maritime CEMS
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
Oil & Fuel OilIndustry news
Puma Energy offering bunker deliveries in Puerto Rico
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
EnergyIndustry news
Flex2Future advances floating wave, wind and solar platform toward pre-2030 demo
Flex2Future, a Norwegian technology company developing floating offshore energy systems that combine wind, wave and solar power on a single platform, has wrapped up an extensive model testing campaign in Norway, putting its floating wave, wind and solar energy platform concept through simulated offshore conditions ahead of plans for a full-scale demonstration before the decade ends. The post Flex2Future advances floating wave, wind and solar platform toward pre-2030 demo appeared first on Offshore Energy .
EnergyIndustry news
Hormuz Crisis Boosts Appeal of $42-Billion Tanzania LNG
Equinor sees a multi-billion LNG export project in Tanzania becoming more attractive for development amid the Middle East conflict that has crippled liquefied natural gas supply through the Strait of Hormuz, a senior executive at the Norwegian energy major said on Tuesday. However, Equinor and its co-operator of the project, Shell, have been locked in difficult negotiations with the government and authorities in Tanzania for years and the provisional Tanzania LNG project has not advanced much this decade. “You don't want to wait too long…
Shipping & LogisticsIndustry news
Next winners revealed in France’s CORIMER low-carbon ship initiative
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
EnergyIndustry news
30-year-old North Sea project gets gas boost with early start to its next chapter
With three decades under its belt, a giant gas project is getting a new lease of life, as the latest phase of its development begins production ahead of schedule, accelerating the delivery of 55 billion cubic meters (bcm) of gas to Europe. The post 30-year-old North Sea project gets gas boost with early start to its next chapter appeared first on Offshore Energy .
Shipping & LogisticsIndustry news
Höegh Autoliners orders six more dual-fuel LNG and ZCR Aurora class vessels
Membership Required: Standard Free You need to be a Standard member to access this content. Our standard membership includes: Free access to all ship.energy news stories on the website Free access to all ship.energy podcasts The ship.energy daily news report, delivered to your inbox A listing of global industry events, moves, seminars, workshops and conferences Daily bunker prices from 6 key ports A premium membership (£295 per year) is also available which includes access to Bunkerspot magazine, the Bunkerspot news archive (10 years), exclusive ship.energy Industry insights, and delegate disc
Oil & Fuel OilIndustry news
Benchmark diesel price is now highest since war began
The benchmark diesel price used for most fuel surcharges hit an important milestone this week: it is at its highest level since military action commenced against Iran in early March. The weekly Department of Energy/Energy Information Administration average weekly retail diesel price rose 19.8 cents/gallon to $5.652/g, effective Monday but published Tuesday. The previous high price was $5.643/g set April 6. That price is now up 39.5 cts/g in the last two weeks. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { googletag.defineSlot('/21776187881/FW-Responsive-Main
EnergyIndustry news
The Race to Power AI Is Reviving America's Nuclear Ambitions
The artificial intelligence boom is supercharging the development of next-gen nuclear energy technology. Big Tech and private equity are catalyzing the research and development of cutting-edge approaches to round-the-clock clean energy production as hyperscalers add power-hungry data centers to the grid at a blistering rate. “A single hyperscale data center can consume as much electricity as 50,000 homes,” writes the MIT Energy Initiative. “U.S. data centers consumed more than 4% of the country’s total electricity…
EnergyIndustry news
Turkey Braces For Potential Gas Squeeze as U.S. Targets Iran Trade
Turkey, a key US ally and Iran’s third-largest trading partner, is at risk of losing a key energy supplier if Washington makes good on a threat to economically isolate Tehran.
EnergyIndustry news
Norway’s Troll Gas Expansion Buys Europe Time—But Not New Supply
Norway has started production from the second stage of the Troll Phase 3 development, accelerating 55 billion cubic meters of natural gas from the Troll West reservoir and helping sustain high gas deliveries to Europe from one of the continent’s most important energy assets. Production began on August 22, several months earlier than planned and a cost at tens of millions of dollars below the original estimate of approximately $1.2 billion, according to Equinor. The project does not increase the Troll field’s recoverable resources. Instead,…
EnergyIndustry news
Woodside Retreats on Clean Energy, Doubles Down on LNG
Australia's biggest oil and gas producer Woodside Energy Group Ltd. is scaling back its clean energy ambitions to double down on fossil fuels.
Oil & Fuel OilIndustry news
U.S. Refiners Face New Crude Squeeze as Canada Cuts Oil Sands Output
U.S. refineries have been running at full speed for months to make up for lost fuel supply from the Middle East. Fuel exports from the United States have been breaking records. This may be about to change, and not because of the war. It is oil sands maintenance season in Canada. In September, Canadian crude oil production may drop by 300,000 barrels daily due to maintenance activities in the oil sands, Rystad Energy said this week, as quoted by Bloomberg. Usually, whenever such a seasonal disruption occurs, it gets offset with crude from storage.…
Oil & Fuel OilIndustry news
LNG Bunker Snapshot: Singapore LNG bunker price surges amid Middle East supply concerns
Rotterdam Rotterdam’s LNG bunker price has jumped by $70/mt, mirroring gains in the front-month Dutch TTF natural gas contract. Over the past week, TTF has climbed by around 6% to $22.41/MMBtu ($1,165/mt). The latest rally in TTF prices has been driven by the escalating US-Iran tensions and growing concerns over energy shipments through the Strait ...
Oil & Fuel OilIndustry news
Sinopec Says China Oil Demand 'Very Likely' Peaked in 2025
China's oil demand probably peaked last year, earlier than previous estimates, according to the head of the nation's top refiner.
Shipping & LogisticsIndustry news
The Tanker Tycoon Making Millions on Hormuz Shuttle Runs
The Tanker Tycoon Making Millions on Hormuz Shuttle Runs EnergyNow.com