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Energy Markets

CERAWEEK-Suriname presses Exxon, TotalEnergies to combine gas developments

Suriname's stateowned oil business Staatsolie has actually begun talks with oil majors Exxon Mobil and TotalEnergies to encourage joint development of natural gas fields that straddle its and Guyana's. maritime borders, the head of its state oil company told . late Tuesday. The early-stage discussions become part of Suriname's efforts. to increase foreign investment in its energy production and turn. the South American nation into a regional gas hub. Its. significant oil production from offshore has to do with four years away. To Suriname's west, an Exxon-led consortium in Guyana has. quickly ramped oil output to about 650,000 barrels each...

Oil & Gas Refining

VTTI to manage Italy's biggest LNG terminal, Snam to get 30%.

Energy storage group VTTI will get a 70% stake in Italy's biggest melted natural gas ( LNG) terminal, with grid operator Snam owning the rest, the Milanlisted group stated late on Wednesday, announcing an offer to be finalised by yearend. Snam, which is controlled by the Italian federal government, stated in a statement it had actually exercised its pre-emption right to up its stake in the terminal called Adriatic LNG to 30% from 7.3%. The relocation comes after ExxonMobil and QatarEnergy last week accepted offer their stakes in the terminal to a consortium led by Dutch group VTTI. This deal...

Natural Gas Utilities

Qatar prepares new gas output increase amidst worldwide price collapse

Qatar will raise natural gas production in spite of a current high drop in global prices, in a. longterm bet on increasing need for the less polluting fuel in. Europe and Asia. QatarEnergy chief Saad al-Kaabi said on Sunday a new. expansion of its liquefied gas (LNG) production will include. 16 million metric tons annually to its expansion strategies, bringing. total capability to 142 million loads each year (tpy). The Qatari statement comes as Asian LNG rates have. recently collapsed to a nearly three-year low as. higher-than-usual temperature levels during the Northern Hemisphere. winter have slashed need. LNG is gas...

Oil & Gas

CERAWEEK-Suriname presses Exxon, TotalEnergies to integrate gas developments

Suriname's stateowned oil business Staatsolie has begun talks with oil majors Exxon Mobil and TotalEnergies to encourage joint advancement of natural gas fields that straddle its and Guyana's. maritime borders, the head of its state oil firm informed . late Tuesday. The early-stage conversations belong to Suriname's efforts. to increase foreign financial investment in its energy production and turn. the South American nation into a regional gas hub. Its very first. significant oil production from offshore has to do with 4 years away. To Suriname's west, an Exxon-led consortium in Guyana has. quickly ramped oil output to about 650,000 barrels...

Oil & Gas

MIDEAST - Factors to watch - May 14

Here are some factors that might affect Middle East stock exchange on Tuesday. has not validated the press reports and does not guarantee their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Asia shares hit 15-month high as traders wait for CPI * Oil constant as investors eye US inflation, OPEC report * PRECIOUS-Gold rates edge greater as essential United States inflation information looms * MIDEAST STOCKS-Gulf markets end mixed ahead of United States inflation data * Israeli forces press Gaza offensive from north and south * Erdogan defends Hamas, says members are being dealt with in Turkish hospitals * White House sees no...

Oil & Gas

Vitol near purchasing Exxon, QatarEnergy stakes in Italy LNG terminal, sources say

Vitolbacked energy storage business VTTI is close to obtaining a majority stake in Italy's. biggest liquefied natural gas import terminal from Exxon Mobil. and QatarEnergy, 2 sources with knowledge of the. matter stated on Monday. The deal, which sources previously stated could value the. whole terminal at about 800 million euros ($ 868 million), would. provide VTTI a function in the European LNG market at a time when circulations. of the liquefied gas to Italy are on the increase. Exxon put its 70.68% interest in the Adriatic LNG terminal. up for sale in 2015, as part of a strategy to...

Oil & Gas

No takeover please, Uniper CEO states as state exit looms

Uniper is opposed to being purchased by a competitor as part of Berlin's efforts to offer down its 99% stake in the German energy trader, which was bailed out at the height of Europe's energy crisis, its chief executive stated. Uniper had to be saved by the German federal government for 13.5 billion euros ($ 14.6 billion) in 2022 after former main supplier Gazprom halted circulations, however considerations of how Berlin can begin offering down its holding have actually started due to the group's current turnaround. Options range from the sale of a 20% -30% stake on the open market...