International

Norwegian regulators have approved revised production permits allowing Equinor ASA and its partners to continue pumping natural gas near maximum levels for export to Europe, as the continent looks to cut its dependence on Russian supplies.  Fields on the Norwegian Continental Shelf have been operating near maximum capacity amid strong demand and a war between…

Despite Western sanctions against Russia, the country may become closer energy partners  with India after the two governments recently discussed the potential for further oil and gas deals. Russian Deputy Prime Minister Alexander Novak and India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri talked last week about current and potential joint energy collaborations…

RWE AG said Tuesday it would not sign new energy supply contracts with Russian counterparties, joining a list of companies that have halted business as sanctions increase following the Kremlin’s decision to invade Ukraine.  RWE, a major German energy provider, also said it would end non-energy supply business with Russian entities immediately.  In keeping with…

Calgary-based Strathcona Resources Ltd. has grown to heavyweight status among private exploration companies after completing two acquisitions that boosted its combined oil and natural gas production to about 110,000 boe/d. Before the latest dealmaking, Strathcona’s production was averaging 75,000-80,000 boe/d.   The company, 100% owned by the private equity Waterous Energy Fund and Strathcona employees, broke…

Global oil demand this year was tracking to a strong recovery, fueled by demand in goods and services, but the Russian incursion into Ukraine has upended all forecasts and there is no clarity in the near term, according to energy experts.  In OPEC’s Monthly Oil Market Report (MOMR) issued Tuesday, the Saudi-led cartel noted that…

Houston-based Stabilis Solutions Inc. reported record revenue last year including for liquefied natural gas (LNG), but the small-scale supplier is now multi-tasking to mitigate inflation impacts and grow two key businesses. CEO Westervelt Ballard Jr. said price premiums on LNG in 2021 helped lift the revenue through the year, but equally high transportation and labor…

Amid soaring prices for the import of liquefied natural gas (LNG) and a tight global energy market, Argentina’s efforts to increase natural gas output appear to be paying off. Buenos Aires-based generator and exploration and production (E&P) company Pampa Energía SA announced it would up its gas production by 60% this year. The plan is…

Soaring European natural gas prices swelled 2021 earnings by Vermilion Energy Inc., a Calgary firm that has Dutch, Irish and Western Canadian production. Vermilion gas fetched an average $17.89/MMBtu for its natural gas in 4Q2021, nearly double the $9.20 from a year earlier. The company reports in Canadian dollars (C$1.00/U.S. 79 cents). “European prices were…

The United States must boost production and exports of oil and natural gas in order to reduce Russia’s leverage in the global energy markets while continuing to pursue decarbonization, Sen. Joe Manchin (D-WV) said Thursday. Manchin, who chairs the Senate Committee on Energy and Natural Resources, oversaw a committee hearing on “the use of energy…