QatarEnergy, ExxonMobil and the Government of Cyprus have signed a commercial discovery declaration for the Glaucus and Pegasus fields in Block 10 offshore Cyprus, marking a step forward in the development of the country's offshore gas resources.The declaration, signed in Nicosia, was accompanied by a collaboration statement between the parties covering the development of Block 10 and broader future opportunities…
Oil prices fell for a third consecutive day on Thursday as concerns over supply disruptions eased after Qatar said Iran and the U.S. had made progress in talks over the Strait of Hormuz.Brent futures LCOc1 were 66 cents or 0.92% lower at $70…
Global liquefied natural gas demand is expected to rise by around 65% by 2050, driven largely by Asia as countries seek lower-emission alternatives to coal and data centres boost power demand, Shell said in an annual report on Tuesday.Global…
Crude prices may be back near levels seen before the Iran war, but the surge in oil exports from the Middle East following the reopening of the Strait of Hormuz is creating a chaotic market that could take months to settle.The steep slide in…
After several years of strong activity, the Middle East offshore market has become more volatile, with geopolitical tensions disrupting day-to-day operations. Following US and Israeli military action and subsequent Iranian attacks on neighbouring Gulf states…
India's Oil and Natural Gas Corporation (ONGC), supported by energy and marine consultancy ABL, has completed the relocation of 44 jack-up rigs ahead of the monsoon season.The pre-monsoon rig moves were carried out between March 15 and May 31…
German utility RWE has agreed to acquire additional indirect stakes in transmission system operator Amprion for $4.1 billion (€3.6 billion), raising its total holding in the company to 55% and expanding into regulated grid infrastructure.RWE has agreed with five shareholders of M31…
Logistics and materials management company ASCO has opened its first office in the Middle East, establishing a presence in Qatar as it looks to expand its regional operations and support growing demand for logistics and environmental services…
Four liquefied natural gas tankers controlled by Qatar headed into the Strait of Hormuz on Monday, despite a fall in ship traffic after Iran announced that it had again closed the waterway over the weekend, shipping data showed.The tankers - Wadi Al Sail…
Thirteen people were killed and dozens injured after an explosion at Qatar's massive Ras Laffan liquefied natural (LNG) gas complex which occurred as workers were restarting operations halted after an Iranian attack in March.Authorities said…
Middle East oil producers face a reckoning. The Iran war exposed the dangers of relying on a single chokepoint for vital oil and gas exports, leaving Gulf governments with a clear strategic imperative: diversify – at all costs.An Iranian blockade…
McDermott International did not halt work on QatarEnergy’s massive North Field East expansion project during the Iran war, Chief Executive Michael McKelvy said on Tuesday, even as the conflict imposed operational constraints.McDermott is responsible…
Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood of oil risks eroding OPEC’s already fragile grip on the market.The Iran war and the closure of the vital waterway…
Shell and its partners QatarEnergy and Namibia's national oil company NAMCOR have reported encouraging results from the Merlin-1X exploration well in Petroleum Exploration License 0039 (PEL 0039) offshore Namibia, with the well delivering the…
Workers will escalate the strike at Inpex's Ichthys LNG facilities in Australia that started last week over a wage dispute, after talks failed to progress with the Japanese operator, the Offshore Alliance union said on Monday.Ichthys accounts for about 10% of LNG supply from Australia…
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