Japanese trading houses Mitsui & Co and Mitsubishi Corp have cut the value of their stakes in the Sakhalin-2 liquefied natural gas (LNG) project in Russia by 217.7 billion yen ($1.66 billion) following Moscow's move to seize control of the project…
Australia's threat to curb exports of liquefied natural gas (LNG) in order to ensure domestic supplies is another unwelcome pressure on a tight global market for the super-chilled fuel.But it's not an immediate threat, and it may also not materialize at all…
Woodside Energy Group on Friday said a cut in its production outlook, which had rattled investors on Thursday, was due to a change in conversion factors and did not reflect any change in physical product volumes.Woodside's shares fell 4% on Thursday after it said its full year output…
Malaysia's state energy firm Petronas is forecast to contribute to government coffers as much as 59 billion ringgit ($13.25 billion) this year, a cabinet minister said in a statement to parliament published Friday.Petronas contributions are a significant source of revenue for the federal government…
Australia's Woodside Energy Group trimmed its production outlook for 2022 on Thursday and flagged a possible delay to a U.S. oil project inherited with BHP Group's petroleum assets, sending its shares down 4%.Woodside, now a top 10 global independent oil and…
Resource-poor Japan is facing a historic energy security risk as tensions with Moscow intensify, heightening the threat of gas supply disruptions at a time when global supply is tight and spot prices are sky-high.Last week, Russia seized full…
Pavel Zavalny, the head of the energy committee in Russia's lower house of parliament, said on Thursday that the Sakhalin-1 oil and gas project in the country's far east, will be put under Moscow's jurisdiction, just like neighboring Sakhalin-2…
Russia's former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel…
Dubai-based Dragon Oil signed a $1 billion deal to renew its production partnership in Turkmenistan with state-owned Turkmen Oil for 10 years after the current contract expires in May 2025, the United Arab Emirates state news agency WAM said on Monday…
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…
India introduced export duties for gasoil, gasoline and jet fuel on Friday to help boost domestic supplies, while also imposing a windfall tax on oil producers that have benefitted from higher global crude oil prices.The new taxes, announced in government orders…
Russia will create a firm which will take over all rights and obligations of the Sakhalin Energy Investment Company amid Western sanctions imposed on Moscow, a decree signed by President Vladimir Putin said on Thursday.The 5-page decree indicates…
Global energy consumption rose by 5.8% in 2021, exceeding pre-pandemic levels as economies revved up activity, while strong growth in renewable energies chipped away at fossil fuel use, according to a benchmark report by BP.Oil demand last year was 3…
Oil spilled last week at Jadestone's Montara field offshore Australia, during crude oil transfer between two crude oil tanks onboard the Montara Venture FPSO, forcing the company to shut down production from the offshore fied.'During the transfer…
The Philippines' outgoing foreign minister said on Thursday that talks over joint energy exploration between his country and China in the South China Sea had been terminated, citing constitutional constraints and issues of sovereignty.The two…
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