Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region.
According to the Supplementary Agreement, gas supplies to China via the Power of Siberia gas pipeline will commence in December 2019.
Exxon Mobil Corp. and other energy companies have joined President Donald Trump in expressing concerns over a bill to toughen sanctions on Russia, arguing that it could shut down oil and gas projects around the world that involve Russian partners.
Qatar mounted what appeared to be a show of strength on Tuesday, when the state-owned Qatar Petroleum announced plans to raise liquefied natural gas capacity by 30 percent. Its immediate effect will be to worsen a glut on the LNG market where Australia, the United States and Russia vie.
General Electric Co. closed its deal to combine its long-suffering energy business with Baker Hughes Inc. on Monday, creating one of the largest companies in the oil-field services industry.
Spain’s Repsol has agreed to establish a joint venture with Russian oil company Gazprom Neft, in the latest move by a European oil and gas company to deepen co-operation with Russia despite western sanctions targeting the country’s energy sector.
The UK's first US LNG cargo will arrive at the Isle of Grain terminal on around July 8, according to shipping sources.
Natural gas net imports (imports minus exports) set a record low of 685 billion cubic feet (Bcf) in 2016, continuing a decline for the 9th consecutive year. In recent years both U.S. natural gas production and consumption have increased, although production has grown slightly faster, reducing the reliance on natural gas imports and lowering domestic prices.
The Indian consortium led by the state-owned Oil and Natural Gas Corporation (ONGC) is willing to spend as much as $11bn to develop the giant Iranian natural gas field it discovered in 2008.
U.S. Rig Count is up 509 rigs from last year's count of 431, with oil rigs up 415, gas rigs up 95, and miscellaneous rigs down 1 to 0. Canadian Rig Count is up 113 rigs from last year's count of 76, with oil rigs up 77, gas rigs up 37, and miscellaneous rigs down 1 to 0.