Equinor makes record $75bn profit during energy crisis

Continue readingEquinor makes record $75bn profit during energy crisis

ONGC invest $3.5bn to keep up production

Oil and Natural Gas Corporation Limited (ONGC, owned by the Ministry of Petroleum and Natural Gas, Government of India) is in talks with global oil majors to infuse state…Continue readingONGC invest $3.5bn to keep up production

ExxonMobil posts record $56bn profit

Results show scale of windfall from high oil prices following invasion of Ukraine.Continue readingExxonMobil posts record $56bn profit

US jobs boom in the ‘busiest spot in the busiest oilfield’

Crude production from the Permian Basin has soared to a record high.Continue readingUS jobs boom in the ‘busiest spot in the busiest oilfield’

Norway’s $1.3tn oil fund bounces back after worst year since 2008

Sovereign wealth fund has gained 5% so far this year but chief executive warns of ‘uncertain’ 2023.Continue readingNorway’s $1.3tn oil fund bounces back after worst year since 2008

Italy’s Eni signs $8bn gas deal with Libya amid energy crunch

The energy agreement, signed during Italian PM Meloni’s visit to Tripoli, seeks to boost Libya’s gas output through new offshore gas fields.Continue readingItaly’s Eni signs $8bn gas deal with Libya amid energy crunch

Neptune Energy commences drilling at Adorf gas development

“The Adorf field is already an important contributor to domestic energy supplies in Germany, providing enough gas to heat more than 100,000 households.”Continue readingNeptune Energy commences drilling at Adorf gas development

Saipem wins $900m worth contracts from Total Energies and Equinor

The first contract from Total Energies pertains to the LAPA SW development project in in the Santos Basin in Brazil, while the second contract from Equinor is for the…Continue readingSaipem wins $900m worth contracts from Total Energies and Equinor

TotalEnergies is rolling out its integrated gas strategy

In line with its growth strategy in gas and LNG, a fuel contributing to the energy transition, TotalEnergies announces the start of gas production from onshore Block 10 in…Continue readingTotalEnergies is rolling out its integrated gas strategy

Banks still investing heavily in fossil fuels despite net zero pledges – study

Financial institutions signed up to GFANZ initiative accused of acting as ‘climate arsonists’.Continue readingBanks still investing heavily in fossil fuels despite net zero pledges – study

Norway offers 47 new offshore production licences to 25 oil companies

“New gas volumes will be key to enabling the development of new value chains for hydrogen for Europe.”Continue readingNorway offers 47 new offshore production licences to 25 oil companies

Exxon and Chevron share $100bn in profit after surge in oil prices

Exxon was expected to record more than $56bn in profits in 2022 and Chevron is set to top $37bn, record highs for both companies, according to Wall Street estimates…Continue readingExxon and Chevron share $100bn in profit after surge in oil prices

Oil and gas stocks shine in miserable year for US equities

Continue readingOil and gas stocks shine in miserable year for US equities

Fossil fuel interests revealed to have sponsored more than 500 Australian community organisations

Woodside Energy, Santos and BHP among companies who have sponsorship deals with Australian arts, sport, education and community organisationsContinue readingFossil fuel interests revealed to have sponsored more than 500 Australian community organisations

Petrobras announces start of P-71 production

From Petrobras’ own platform portfolio, the P-71 is an FPSO (floating unit for the production, storage, and transfer of oil and gas) type with capacity to process up to…Continue readingPetrobras announces start of P-71 production

Equinor begins production from Johan Sverdrup Phase 2 project

The phase II of Johan Sverdrup project entails an investment of NOK48bn ($4.8bn) and includes a new platform, five new subsea systems, 28 new wells, a new module for…Continue readingEquinor begins production from Johan Sverdrup Phase 2 project

Global carbon emissions at record levels with no signs of shrinking

The analysis, by the Global Carbon Project, calculates Earth’s “carbon budget“, which is how much CO₂ humans have released, and how much has been removed from the atmosphere by…Continue readingGlobal carbon emissions at record levels with no signs of shrinking

QatarEnergy, ConocoPhillips sign LNG deal for Germany

QatarEnergy and ConocoPhillips have signed two sales and purchase agreements to export liquefied natural gas (LNG) to Germany for at least 15 years starting 2026 – the first such…Continue readingQatarEnergy, ConocoPhillips sign LNG deal for Germany

Equinor submits PDO for $1.5 billion Irpa gas project in Norwegian Sea

Equinor has submitted a plan for development and operation (PDO) for the NOK 14.8 billion ($1.46 billion) Irpa gas project in the Norwegian Sea to the Norwegian Petroleum and…Continue readingEquinor submits PDO for $1.5 billion Irpa gas project in Norwegian Sea

NFE, Pemex partner for Lakach offshore gas field development

US-based New Fortress Energy (NFE) has partnered with Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) to develop and operate an integrated upstream and natural gas liquefaction project off the…Continue readingNFE, Pemex partner for Lakach offshore gas field development

Saipem secures five new offshore drilling contracts worth $800m

Italian oilfield services provider Saipem has won three offshore drilling contracts in the Middle East, and two in West Africa, for a total amount of about $800 million. Both…Continue readingSaipem secures five new offshore drilling contracts worth $800m

US FERC approves Commonwealth LNG project in Louisiana

The US Federal Energy Regulatory Commission (FERC) has approved Commonwealth LNG’s proposed liquefied natural gas (LNG) export terminal project of the same name in Louisiana. Proposed to be constructed…Continue readingUS FERC approves Commonwealth LNG project in Louisiana

HSM wins contract to build N05-A gas production platform in North Sea

Dutch construction company HSM Offshore Energy has secured a contract for the construction of a production platform at N05-A gas field in the North Sea. HSM will build the…Continue readingHSM wins contract to build N05-A gas production platform in North Sea

Qatarenergy and Sinopec sign a 27-year 4 million tons per annum LNG supply agreement to China

QatarEnergy entered into a 27-year Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 4 million tons per annum (MTPA) of LNG…Continue readingQatarenergy and Sinopec sign a 27-year 4 million tons per annum LNG supply agreement to China

What is the fossil-fuel industry doing at COP27?

Tens of thousands of delegates have descended on Sharm el-Sheikh, an Egyptian resort town, for COP27, the UN climate summit. Of the 33,000-odd that registered, about 16,000 represent the…Continue readingWhat is the fossil-fuel industry doing at COP27?

First cargo from $8 billion Coral South Floating LNG project

Eni, ExxonMobil, and other Area 4 partners have achieved the milestone of shipping the first cargo of liquefied natural gas (LNG) from the $8 billion Coral South floating LNG…Continue readingFirst cargo from $8 billion Coral South Floating LNG project

COP27 being used to rebrand gas as transitional fuel, experts warn

Gas producers and their financial backers see COP27 as an opportunity for discussions about rebranding natural gas as a transition fuel rather than a fossil fuel, experts have said.…Continue readingCOP27 being used to rebrand gas as transitional fuel, experts warn

LNG tankers idle off Europe’s coast as traders wait for gas price rise

More than 30 tankers holding liquefied natural gas (LNG) are floating just off Europe’s shoreline as energy traders bet the autumn price reprieve prompted by robust supplies and warm…Continue readingLNG tankers idle off Europe’s coast as traders wait for gas price rise

Biden courted oil companies before threatening them with windfall tax

Before President Biden lambasted oil companies for excess profits and threatened to slap a “windfall tax” on them, several of his top energy advisers privately attempted to woo that…Continue readingBiden courted oil companies before threatening them with windfall tax

Update to Greenhouse Gas Emissions

Greenhouse Gas Emissions on this site has been updated with newly published data from the Global Carbon Project.Continue readingUpdate to Greenhouse Gas Emissions

Fossil fuel projects were stalled a year ago. Now they’re making a comeback.

The fossil fuel industry is experiencing a remarkable rebound, with sudden momentum behind more than 80 projects that range from coal-fired power plants to hulking gas export terminals, many…Continue readingFossil fuel projects were stalled a year ago. Now they’re making a comeback.

The magnificent Lake Eyre Basin is threatened by 831 oil and gas wells, and more are planned

The heart-shaped Lake Eyre Basin covers about one-sixth of Australia. It contains one of the few remaining pristine river systems in the world. The Lake Eyre Basin is probably…Continue readingThe magnificent Lake Eyre Basin is threatened by 831 oil and gas wells, and more are planned

Mitsubishi fully commissions 2.65GW gas power plant in Thailand

Mitsubishi Power said that the fourth and final unit of the Chonburi power plant, a 2.65GW gas-fired power facility in Thailand, has commenced operation. The Chonburi power plant is…Continue readingMitsubishi fully commissions 2.65GW gas power plant in Thailand

Finland’s first LNG import terminal has started commercial operations

The first LNG (liquid natural gas) import terminal in Finland has been connected to the transmission network. Hamina LNG provides LNG storage services, regasification and injection services into the…Continue readingFinland’s first LNG import terminal has started commercial operations

MidOcean to acquire Tokyo Gas’ stakes in Australian gas projects for $2.1 billion

MidOcean Energy, a liquefied natural gas (LNG) company formed and managed by EIG, has agreed to acquire the stakes of Tokyo Gas in four integrated LNG projects in Australia…Continue readingMidOcean to acquire Tokyo Gas’ stakes in Australian gas projects for $2.1 billion

UK fracking and oil drilling good for environment, claims climate minister

Fracking and drilling for new oil and gas in the North Sea is green and good for the environment, Liz Truss’s new climate minister said on Wednesday. Graham Stuart…Continue readingUK fracking and oil drilling good for environment, claims climate minister

ADNOC and TAQA close financing for 3.8 billion dollar decarbonisation of oil and gas extraction

Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (TAQA) have closed financing for a $3.8 billion project to decarbonise ADNOC’s offshore oil and gas extraction…Continue readingADNOC and TAQA close financing for 3.8 billion dollar decarbonisation of oil and gas extraction

European countries invest in Qatar gas

France’s TotalEnergies has signed a new investment deal in Qatar’s natural gas production expansion. Speaking alongside TotalEnergies chief executive Patrick Pouyanne on Saturday, Qatar Energy Minister Saad Sherida al-Kaabi…Continue readingEuropean countries invest in Qatar gas

U.S. administration awards Gulf of Mexico drilling leases to oil giants

The Biden administration on Wednesday reinstated $190 million worth of leases to companies bidding to explore for oil and gas in the Gulf of Mexico. The administration sought to…Continue readingU.S. administration awards Gulf of Mexico drilling leases to oil giants

East Timor’s Ramos-Horta presses Australia on stalled gas fields

Give our country $100bn – or stop lecturing us about making money from fossil fuels. That was the message East Timor President and Nobel Peace Prize winner José Ramos-Horta…Continue readingEast Timor’s Ramos-Horta presses Australia on stalled gas fields

Huge profits for fossil-fuel giants Woodside, Whitehaven and Santos

Woodside Energy, Australia’s largest energy producer, on Tuesday capped a string of bumper results by oil, gas and coal producers. The Perth-based company said its net profit after tax…Continue readingHuge profits for fossil-fuel giants Woodside, Whitehaven and Santos

China’s oil giants post record profits on surging fuel prices

PetroChina Co., Sinopec and Cnooc Ltd. each said they made historic amounts of money in the January-to-June period. PetroChina’s chairman said government stimulus packages are bolstering oil demand, while…Continue readingChina’s oil giants post record profits on surging fuel prices

Global fossil fuel subsidies almost doubled in 2021

Global public subsidies for fossil fuels almost doubled to $700 billion in 2021. Despite the huge profits of fossil fuel companies, the subsidies soared as governments sought to shield…Continue readingGlobal fossil fuel subsidies almost doubled in 2021

Woodside, Bechtel start construction at Pluto Train 2 project in Australia

Australian petroleum exploration and production company Woodside Energy and US-based engineering company Bechtel have started construction at the Pluto Train 2 project. Pluto Train 2 is the expansion of…Continue readingWoodside, Bechtel start construction at Pluto Train 2 project in Australia

Australia’s Santos takes Final Investment Decision on $2.6 billion oil project in Alaska

Australian oil and gas company Santos has decided to proceed with the $2.6 billion oil project in Alaska in a bid to further diversify its production portfolio. As the…Continue readingAustralia’s Santos takes Final Investment Decision on $2.6 billion oil project in Alaska

Santos profit rises three-fold

Australian oil and gas company Santos reported a half-year net profit after tax of $A1.66 billion ($US1.167 billion), up 230%. Its underlying profit was $A1.8 billion ($US1.267 billion), up…Continue readingSantos profit rises three-fold

Australian Federal Government to back new fossil fuel projects that ‘stack up’ economically and environmentally

The Albanese government will continue to support new fossil fuel projects so long as they “stack up” from an economic and environmental perspective, the federal resources minister says. Madeleine…Continue readingAustralian Federal Government to back new fossil fuel projects that ‘stack up’ economically and environmentally

US banks tout fossil fuel credentials

In recent years, Wall Street firms have tried to talk up their commitment to the environment and social justice. Now they are singing a different tune. Large US banks…Continue readingUS banks tout fossil fuel credentials

Heatwaves scorch Iraq as protracted political crisis grinds on

Temperatures have soared up to nearly 50˚C (122˚F) in Baghdad almost daily, and in the southern city of Basra, temperatures have come close to 53˚C (127˚F) – dangerously high…Continue readingHeatwaves scorch Iraq as protracted political crisis grinds on

Wintershall Dea begins production from Nova oil field, offshore Norway

Wintershall Dea and its partners Sval Energi and Pandion Energy Norge have started production from the Nova oil field (previously Skarfjell) located in the Norwegian North Sea. The development…Continue readingWintershall Dea begins production from Nova oil field, offshore Norway

ADNOC Drilling wins $2 billion worth of contracts for Ghasha mega-project

The Ghasha gas project is located on the north-western shore of Abu Dhabi, United Arab Emirates (UAE). Abu Dhabi National Oil Company (ADNOC) is developing the project. ADNOC expects…Continue readingADNOC Drilling wins $2 billion worth of contracts for Ghasha mega-project

Algeria, Nigeria, and Niger sign MoU for $13 billion Trans Saharan gas pipeline

The more than 4,000km (2,485 mile) long onshore gas pipeline is planned to start in Warri in Nigeria, travel through Niger, and end in Hassi R’Mel in Algeria, from…Continue readingAlgeria, Nigeria, and Niger sign MoU for $13 billion Trans Saharan gas pipeline

INPEX gas company and Northern Territory Government sign statement of commitment to a net zero emissions future

INPEX CORPORATION (INPEX) announced it has signed a statement of commitment to a net zero emissions future with the government of Australia’s Northern Territory, where the Ichthys liquid natural…Continue readingINPEX gas company and Northern Territory Government sign statement of commitment to a net zero emissions future

GAZ-SYSTEM connects Baltic Pipe to Polish and Danish transmission systems

GAZ-SYSTEM said that the Baltic Pipe project, a 900km long offshore and onshore natural gas pipeline has been connected to the Polish and Danish transmission systems. The pipeline project…Continue readingGAZ-SYSTEM connects Baltic Pipe to Polish and Danish transmission systems

Fifty-year extension for Australia’s biggest CO₂ emitter

Oil and gas giant Woodside Energy been given the green light to operate the North West Shelf gas processing facility on the Burrup peninsula, in the Pilbara, until 2070.…Continue readingFifty-year extension for Australia’s biggest CO₂ emitter

Mongolia says Russia-China gas pipeline will break ground in 2024

Mongolia expects Russia to begin construction of the “Power of Siberia 2” gas pipeline through its territory to China within two years, as Moscow moves to connect its Europe-supplying…Continue readingMongolia says Russia-China gas pipeline will break ground in 2024

Hungary declares ‘energy emergency’ over threat of fuel shortages

Hungary’s government has declared an “energy emergency” in response to supply disruptions and skyrocketing energy prices in Europe, an official said. There is “unlikely to be enough gas in…Continue readingHungary declares ‘energy emergency’ over threat of fuel shortages

New Fortress Energy to sell 11 LNG vessels to JV with Apollo for $2bn

New Fortress Energy (NFE) has signed a deal to sell 11 liquefied natural gas (LNG) infrastructure vessels to a joint venture (JV) it will form with Apollo for a…Continue readingNew Fortress Energy to sell 11 LNG vessels to JV with Apollo for $2bn

EU votes to class gas and nuclear as green

Under the plans, gas can be classed as a sustainable investment if “the same energy capacity cannot be generated with renewable sources” and plans are in place to switch…Continue readingEU votes to class gas and nuclear as green

Shell signs up to Qatar project as LNG demand booms

Shell has become the latest international partner in the expansion of the world’s largest liquefied natural gas (LNG) project in Qatar as global demand for the fuel soars. Europe’s…Continue readingShell signs up to Qatar project as LNG demand booms