International

U.S. oil output declined last week as prices descended and concerns mounted about global recession and geopolitical tumult tied to Russia’s invasion of Ukraine. Production for the week ended Sept. 23 declined by 100,000 b/d to 12.0 million b/d, the U.S. Energy Information Administration (EIA) said Wednesday in its Weekly Petroleum Status Report. The drop…

As European governments continue to investigate the damage to the Nord Stream systems and the possible end to Russian natural gas imports, the Baltics celebrated a new pipeline and pathway for Norwegian supply. Equinor ASA has signed a long-term sales agreement to deliver additional natural gas supplies to Poland via the Baltic Pipe system, which…

Despite recent action by the UK government to encourage unconventional natural gas extraction in England, a lasting domestic shale industry would need a dedicated supply chain and reliable support through changing political winds, according to prominent energy prognosticators. “I would just be shocked if anything could happen,” RBN Energy LLC CEO Rusty Braziel said last…

TotalEnergies is expanding its investment in Qatar’s next wave of natural gas and LNG development as the first international stakeholder in the North Field South (NFS) project. The French major agreed to take a more than 9% stake in the 16 million metric ton/year (mmty) liquefied natural gas project planned for the waters off of…

European natural gas and power prices reversed a nearly week-long decline on Tuesday as news of potential damage to the Nord Stream 1 (NS1) and Nord Stream 2 (NS2) pipeline networks stoked concern about the future of Russian supply to the continent. The operator of NS1, Nord Stream AG, detected a drop in pressure late…

Remote North Atlantic drilling offshore Newfoundland has lost out in competition against LNG and lower-cost Gulf of Mexico wells for investment by top Australian producer Woodside Energy Group Ltd. The Perth-based firm dropped Grand Banks exploration licenses, acquired in its June merger with BHP Petroleum, that fetched work bids of C$822 million ($616 million) in…

The European Union has made significant progress to replace Russian natural gas, but an abrupt stop to pipeline flows could mean future U.S. LNG projects will be the key to rebalancing energy markets on the continent, industry groups highlighted in a new analysis. In a new report by Rystad Energy AS, conducted for the American…

SINGAPORE (ICIS) –The ICIS East Asia Index (EAX) firmed on 22 September on early TTF trades and tender information, resulting in a spot value of $41.00/MMBtu, $2/MMBtu higher than the previous day’s close.

Uniper SE said Wednesday that the German government would spend 8 billion euros ($7.9 billion) to take a 99% stake in the company and nationalize the country’s largest utility.  The German government would also acquire all the shares held by Uniper’s largest stakeholder, Finnish energy company Fortum Oyj. The deal amends a bailout announced in…