Turkey has signed a 10-year liquefied natural gas (LNG) supply agreement with France’s TotalEnergies SE, marking a significant step in its bid to become a major regional gas hub. This deal, which commences in 2027, includes provisions for redirecting some cargoes to Europe. It is the second LNG agreement this month as Turkey advances its […]
Shell plc has entered into a 10-year agreement with Turkey’s state-owned energy company, BOTAS, to supply liquefied natural gas (LNG). Under this agreement, starting in 2027, Shell will provide 4 billion cubic meters of LNG annually to Turkey, sourced from its U.S. and global energy assets. Before the discovery of the Sakarya gas field in […]
Woodside Energy Group, Australia’s leading oil and gas producer, has announced a significant step in its expansion strategy by acquiring U.S.-based Tellurian for approximately $1.2 billion. This acquisition includes Tellurian’s fully permitted and advanced-stage Driftwood LNG export project near Lake Charles, Louisiana.Under the terms of the deal, Woodside will pay an all-cash price of $900 […]
Wood has secured a six-year contract to deliver brownfield engineering, procurement, and construction management (EPCm) solutions for Shell’s Prelude Floating Liquified Natural Gas (FLNG) facility located in Western Australia. Ken Gilmartin, CEO of Wood, emphasized the importance of LNG as a transition fuel that balances global energy security with the urgent need to reduce carbon […]
TotalEnergies, holding a 40% stake in Nigeria’s OML 58 onshore license, along with the Nigerian National Petroleum Corp. Ltd (NNPCL, 60%), has reached the final investment decision (FID) to develop the Ubeta gas field. The OML 58 license, situated approximately 80 km northwest of Port Harcourt in Rivers State, encompasses two active fields: the Obagi […]
Shell plc (SHEL), a prominent British oil and gas giant, has finalized a significant agreement to acquire Pavilion Energy, a leading Singaporean liquefied natural gas (LNG) firm owned by Temasek, a global investment company. This strategic acquisition is poised to bolster Shell’s presence in the LNG market, particularly in Europe and Singapore, as part of […]
Oil prices climbed about 3% to a one-week high on Monday, driven by hopes of rising summer fuel demand despite a stronger U.S. dollar and expectations that the U.S. Federal Reserve will maintain higher interest rates. The Fed raised rates aggressively in 2022 and 2023 to control inflation, increasing borrowing costs for consumers and businesses, […]
Market Analysis – May 3 USOil offered buy-side delivery of the price in the marketplace since the inception of the year. However, the month of May has changed the tide of the bullish institutional order flow. The parallel channel guiding the upward trend has been invalidated by a bearish breakout. US Oil Key Levels Demand […]
ExxonMobil and Turkey are in discussions regarding a multibillion-dollar agreement for the purchase of liquefied natural gas.Turkish energy minister Alparslan Bayraktar revealed in an interview with the Financial Times that the country seeks to diversify its energy suppliers to enhance national security. The potential deal would involve Turkey acquiring up to 2.5 million tonnes of […]
