Caturus makes FID on $13bn Commonwealth LNG project in Louisiana
The LNG facility is expected to begin operations in 2030. Credit: GreenOak/Shutterstock.com. Caturus has reached a final investment decision (FID) on its $13bn Commonwealth liquefied natural gas (LNG) project in Cameron Parish, Louisiana, US. The company also secured $9.75bn in project financing for the construction of a 9.5 million tonnes per annum export facility. Discover […]
Oil prices rise 2% on Trump-Xi Iran remarks, Hormuz shipping fears
Iran’s Revolutionary Guards claimed 30 ships have passed through the Strait of Hormuz since Wednesday evening. Credit: JAPHARA/Shutterstock.com. Oil prices increased by approximately 2% after US President Donald Trump stated that he and China’s Xi Jinping agreed that Iran must not possess nuclear weapons, reported Reuters. This development comes amid ongoing concerns over ship attacks […]
Ludoil Energy inks SPA for ISAB’s Priolo Gargallo refinery
Situated in south-eastern Sicily, the facility spans the municipalities of Priolo Gargallo, Augusta and Melilli. Credit: Ludoil Energy, Inc. Ludoil Energy’s wholly owned subsidiary, Ludoil Capital, has signed a sale and purchase agreement (SPA) with GOI Energy to acquire its stake in ISAB, the owner of the Priolo Gargallo refinery and related facilities. The transaction […]
BP acquires 40% stake in Uzbekistan’s Ustyurt blocks
BP has obtained a 20% stake from both of the existing partners, SOCAR and Uzbekneftegaz. Credit: Piotr Swat/Shutterstock.com. BP has secured a 40% participating stake in a production sharing agreement (PSA) for six oil and gas exploration blocks in Uzbekistan’s North Ustyurt region. The agreement covers the Birqori, Boyterak, Kharoy, Qoraqalpoq, Qulboy and Terengquduq blocks. […]
Sinopec wins approval for 235.7bcm Ziyang shale gas reserves
The development is China’s first ultra-deep shale gas field exceeding 100bcm. Credit: Sinopec/PRNewswire. China Petroleum & Chemical Corporation (Sinopec) has obtained approval to develop 235.687 billion cubic metres (bcm) of proven geological reserves at the Ziyang Dongfeng shale gas field in the Sichuan basin, China. This development is China’s first ultra-deep shale gas field exceeding […]
TotalEnergies, EGAS ink offshore exploration deal in Egypt
TotalEnergies’ MoU with EGAS will help evaluate Egypt’s deep offshore exploration potential. Credit: JeanLucIchard/Shutterstock.com. TotalEnergies and the Egyptian Natural Gas Holding Company (EGAS) have signed a memorandum of understanding (MoU) covering exploration activities off the north-western coast of Egypt. The agreement outlines a framework for collaboration in preliminary exploration efforts and subsurface evaluation. Discover B2B […]
ENEOS to buy certain Chevron downstream assets in APAC for $2.2bn
The transaction covers Chevron Singapore’s 50% interest in the Singapore Refining Company and the transfer of several subsidiaries to ENEOS. Credit: Piotr Swat/Shutterstock.com. Japan-based ENEOS has signed a deal worth $2.17bn (Y336bn) to acquire certain downstream fuel and lubricants businesses in Asia-Pacific (APAC) from Chevron. The assets involved in the deal are in Australia, Indonesia, […]
TotalEnergies and partners sign MoU Syrian offshore exploration
The signing ceremony took place at QatarEnergy’s headquarters. Credit: QatarEnergy. TotalEnergies, alongside QatarEnergy and ConocoPhillips, has entered into a memorandum of understanding (MoU) with the Syrian Petroleum Company (SPC) for the exploration of Block 3, located offshore Syria in the Mediterranean Sea. The arrangement involves a technical review of Block 3 by the collaborating parties. […]
Venture Global to supply 1mtpa of LNG to TotalEnergies and Vitol
Venture Global manages more than 100mtpa of LNG capacity that is either operational, under construction or in development. Credit: Audio und werbung/Shutterstock.com. Venture Global has secured new binding agreements to supply US-sourced liquefied natural gas (LNG) to TotalEnergies and Vitol, with a total delivery volume exceeding one million tonnes per annum (mtpa). Under the agreement […]
Oil prices dip ahead of Trump-Xi talks amid Iran tensions
The Strait of Hormuz handles around 20% of global oil and LNG flows. Credit: Michael Dechev/Shutterstock.com. Oil prices declined on 13 May amid uncertainty over a tenuous ceasefire in the Middle East, as US President Donald Trump prepares to meet his Chinese counterpart Xi Jinping in China. At 06:30 GMT, Brent crude futures had decreased […]