U.S. Crude Exports Fall As the U.S. sees less crude imports, it has exported less oil to Europe. U.S. crude exports to Europe fell to 1.86 million bpd in September and 1.84 million bpd in August, from 2.01 million bpd in July, Kpler data showed. Lower exports to Europe impacted Brent benchmark crude futures prices,…
Finland Increases Risk Assessment for Gas Supply Due to Pipeline Breakdown Finland’s National Emergency Supply Agency has confirmed an increased risk assessment for gas supply security in the country due to damage to the Balticconnector gas pipeline earlier this month. This damage will result in the loss of an essential gas import connection during the…
Equinor Shares Rise As Profit Beats Forecast Equinor this weekend, beat third-quarter profit expectations on strong energy trading and said it had overcome disruptions that hampered oil and gas output, boosting its shares. The Norwegian energy producer lowered its 2023 forecast for oil and natural gas output to 1.5% growth from 3% but said this…
Norway’s Aker BP Q3 Profit Beats Expectations Aker BP, a Norwegian oil group partly owned by BP, has reported better-than-expected operating profit for the third quarter. While the earnings before interest and tax declined to $2.62 billion from $3.89 billion compared to the previous year, it remained above the forecast of $2.46 billion, as per…
NSC, terminal operators, agents agree on storage charges The Nigerian Shippers’ Council (NSC) has successfully resolved disputes over storage charges at the nation’s seaports. In a meeting conducted at the NSC headquarters in Apapa, the Council, along with freight forwarders, have also pledged their support to terminal operators in improving service efficiency at the ports….
TotalEnergies JV Bags 25-Year Wind Power Contract with NY The Attentive Energy One project of TotalEnergies SE, Corio Generation, and Rise Light & Power, has been selected by New York State for a 25-year contract to supply 1.4 gigawatts (GW) of renewable electricity. Attentive Energy One received the provisional award in the state’s 2023 competitive…
OTL Resonates New Beginnings in Oil and Gas – Aduda Speaking in his Goodwill Message at the OTL Africa Downstream Energy Week, Gabriel Aduda Permanent Secretary, Ministry of Petroleum Resources, said it is a gathering that epitomizes essence of the industry. “The theme for this year, “Energy, Synergy, and New Beginnings,” strikes a chord in…
Afreximbank, Torxen Energy Resources sign $75m DA for PPL 241 Pan-African supranational multilateral financial institution the African Export-Import Bank (Afreximbank) and exploration and production company Torxen Energy Resources signed a $75 million development agreement for Petroleum Production License (PPL) 241, offshore Nigeria. The deal was signed during the first day of African Energy Week (AEW)…
Qatarenergy, Shell Agree 27-Year LNG Supply Qatar has further expanded its long-term gas supply to Europe, reaching a supply deal with the Netherlands to provide 3.5 million metric tons of liquefied natural gas (LNG) a year for 27 years. Two LNG sale and purchase agreements were signed between affiliates of QatarEnergy and Shell (SHEL.L), QatarEnergy…
UK and Germany See No Way Back To Energy Trade With Russia The UK and Germany do not see a way back to energy trade relationships with Russia even if there is a regime change in Moscow, British and German officials said at the Energy Intelligence Forum in London on Wednesday. “There is no way…
