Industry News

Storegga Makes a Change at the Helm

21 April 2024, 11:00am
Tim Stedman will Storegga's CEO from May 1.
Read more... (source:

Biden Limits Oil Drilling Across Alaska's Petroleum Reserve

20 April 2024, 12:00pm
The Biden administration on Friday finalized a plan to prevent oil development across more than half of the U.S. government's mammoth petroleum reserve in Alaska.
Read more... (source:

Nigeria Plans to Offer Crude Trading on Bourse for First Time

19 April 2024, 8:00pm
It will be the first time the fossil fuel will be traded on an exchange in Africa's largest oil producer.
Read more... (source:

Oil Managed Slight Gain as Risk Premium Falls

19 April 2024, 7:35pm
Oil eked out a meager gain after Iranian media appeared to downplay the effect of Israeli strikes, lowering the geopolitical risk premium for crude.
Read more... (source:

ReconAfrica to Drill Namibia Asset in June

19 April 2024, 6:00pm
The company is targeting 163 million barrels of unrisked prospective oil resources.
Read more... (source:

US DOE Releases Strategy to Connect Renewable Energy to Grid

19 April 2024, 5:30pm
The Transmission Interconnection Roadmap sets targets by 2030 concerning project approval time, costs and completion rates.
Read more... (source:

Emissions Data Firm Bags $6.5MM in Seed Funding

19 April 2024, 4:00pm
Momentick's mission is 'to provide an emissions intelligence platform for countries, industries, and companies'.
Read more... (source:

BP, Petrobras to Explore Collaboration Opportunities

19 April 2024, 2:00pm
The two companies are partners in exploration blocks in the Exploration & Production (E&P) segment.
Read more... (source:

What Would an All-Out War in the Middle East Mean for USA Gasoline Prices?

19 April 2024, 2:00pm
'It would mean extreme price volatility,' EIR warned.
Read more... (source:

Wood to Provide Project Management for NZT Power, NEP

19 April 2024, 1:27pm
NZT Power aims to be one of the world's first commercial-scale gas-fired power stations with carbon capture.
Read more... (source:

Iran-Israel Conflict Has Potential to Further Disrupt Shipping Industry

19 April 2024, 10:33am
'The risk profile for commercial vessels operating in the region remains at severe/critical,' Dryad stated.
Read more... (source:

Iran Acknowledges Drone Attack by Israel and Says It Failed

19 April 2024, 10:24am
Israel launched a retaliatory strike on Iran following last week's missile and drone barrage from Tehran, according to two U.S. officials.
Read more... (source:

Analysts Believe Oil Market Is Underpricing Risk

19 April 2024, 8:27am
Analysts at Standard Chartered said they think geopolitical risk in oil has escalated significantly.
Read more... (source:

Woodside Logs Lower Quarterly Revenue as Output, Prices Fall

19 April 2024, 7:57am
Woodside posted a lower quarterly revenue of $3 billion as selling prices and production and sales volumes fell.
Read more... (source:

Europa Oil & Gas Revenue Hit by Wressle Shutdown

19 April 2024, 6:30am
Europa Oil & Gas posted a revenue of $1.7 million for the six months to January 2024.
Read more... (source:

Canacol Makes Second Gas Discovery in Weeks in Colombian Basin

19 April 2024, 6:30am
Canacol found 123 feet of net gas payzone in the Chontaduro 1 well.
Read more... (source:

Canada Needs Further Pipeline Expansion: Tamarack CEO

19 April 2024, 6:30am
Tamarack Valley Energy CEO Brian Schmidt sees a need for even more export capacity in the long run as drillers ramp up output from newer fields.
Read more... (source:

European Gas Options-Buying Jumped During Recent Price Swings

18 April 2024, 8:00pm
Intense swings in European natural gas prices have prompted traders to pile into options contracts.
Read more... (source:

Oil Swings Amid Rising Iranian Threats

18 April 2024, 7:22pm
Oil fluctuated as markets weighed Iran's threats on Israeli nuclear sites against a stronger US dollar.
Read more... (source:

NG Energy Inks More Long-Term Agreements for Colombia Production

18 April 2024, 4:00pm
The company has now sold approximately 14.8 million cubic feet per day of production under long-term natural gas sales contracts.
Read more... (source:

U.S. hydropower generation expected to increase by 6% in 2024 following last year's lows

18 April 2024, 12:00pm
Last year, U.S. hydropower electricity generation fell to its lowest since 2001. This year, we expect hydropower to increase 6% and account for 250 billion kilowatthours of electricity generation in the power sector, based on forecasts in our Short-Term Energy Outlook (STEO). We expect hydropower to increase in nearly every part of the country, with notable increases in the Southeast and in the Northwest and Rockies. We expect other regions with significant hydropower generation to either increase slightly, such as in New York, or remain about the same, such as California.
Read more... (source:

U.S. natural gas trade will continue to grow with the startup of new LNG export projects

17 April 2024, 12:00pm
In our recently released Short-Term Energy Outlook (STEO), we forecast that U.S. liquefied natural gas (LNG) exports will continue to lead growth in U.S. natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025. We also forecast increased natural gas exports by pipeline, mainly to Mexico. In our STEO forecast, net exports of U.S. natural gas (exports minus imports) grow 6% from 2023 in 2024 to 13.6 billion cubic feet per day (Bcf/d). In 2025, net exports increase another 20% to 16.4 Bcf/d.
Read more... (source:

China imported record amounts of crude oil in 2023

16 April 2024, 2:00pm
China, the world's largest importer of crude oil, imported 11.3 million barrels per day (b/d) of crude oil in 2023, 10% more than in 2022, according to China customs data. Refiners in China imported record volumes of crude oil in 2023 to supply the country's increasing refining capacity in order to support the country's transportation fuel needs and produce feedstocks for its growing petrochemical industry.
Read more... (source:

The United States exported a record volume of natural gas in 2023

15 April 2024, 12:00pm
The United States exported 10% more natural gas in 2023 than in 2022, a record of 20.9 billion cubic feet per day (Bcf/d), according to our Natural Gas Monthly. U.S. liquefied natural gas (LNG) exports accounted for more than half of all U.S. natural gas exports, and natural gas exports by pipeline to Canada and Mexico accounted for the remainder.
Read more... (source:

*Please note: CGEF is not affiliated with any of the included websites or news organizations. Links are provided for convenience only.