Egypt is expecting to begin exporting 60-65 million cubic feet of gas per day to Lebanon by early next year, Egyptian Petroleum Minister Tarek El Molla said on the 16th November. Egypt will supply the gas, in line with the quantity that Lebanon had…
Germany’s largest power producer RWE has revealed its plans to invest US$57 billion through 2030 to double its green energy capacity to 50 gigawatts (GW). According to RWE’s plan, it will invest around US$5.7 billion gross each year for offshore and onshore wind, solar,…
Russia says there is no shortage of oil in the global market and there may even be a surplus from early next year, adding to the chorus of other OPEC+ members to push back against calls from the US to raise output faster. “Inventories…
TechnipFMC has secured a contract by Exxon Mobil Corporation affiliate Esso Exploration and Production Guyana to supply the subsea production system for the Yellowtail development in the Stabroek block. TechnipFMC will provide project management, engineering, manufacturing and testing capabilities to deliver the overall subsea…
National Iranian Oil Company plans to spend around US$11 billion to boost gas production from Iran’s offshore fields by 240 bcm. As part of this programme, CEO Mohsen Khojastehmehr announced plans for a new US$4 billion hub on the North Pars field in the…
General Electric and UK Export Finance, UK’s export credit agency, have announced that an agreement has been reached to finance Kalyon Enerji’s 1.35 GW Karapinar solar project located in the Konya Karapinar province. The solar power plant is Turkey’s largest solar facility, approximately 11km…
Russian gas flows through a key pipeline to Germany rose on the 15th November with no sign that Belarus’s president had acted on his threat to cut off supplies to the European Union as winter approaches. Targeting gas supplies which heat millions of homes across Europe, Belarusian President Alexander Lukashenko…
FAR Gambia Ltd has spudded the Bambo-1 exploration well in Block A2, about 85 km offshore The Gambia in 930 metres of water. The well will be drilled by the Stena IceMax drillship to a planned depth of about 3,400 metres. The drillship arrived…
Harbour Energy’s recent announcement of its planned withdrawal from the US$1.8-billion Sea Lion oil project in the offshore North Falkland basin is symptomatic of recent developments in the E&P sector, according to GlobalData. Many E&P companies are reassessing their portfolios following the market downturn…
After two weeks of intense negotiations and with one day of extension, the 2021 United Nations Climate Change Conference, or COP26, closed over the weekend and the final outcome is a document now known as the Glasgow Climate Pact and an agreement to accelerate action…
