oil-gas
Apr 28, 2025
Gulf Oil and Gas
CHN Energy GD Power announced in its 2024 annual report that its installed capacity reached 111.7 GW by year-end, marking an annual increase of 6.12 GW.
Clean energy sources now account for over 33% of its portfolio for the first time, solidifying a dual-track strategy integrating thermal power with renewable energy.
The company generated 459.45 billion kWh of electricity in 2024, with 436.68 billion kWh supplied to the grid. Heat supply grew 6.75% to 204 million gigajoules. Its new energy expansion accelerated significantly, securing approvals for 18.04 GW of new projects and adding 4.29 GW of installed capacity during the year, bringing total green energy assets to 21.22 GW.
Operating across 29 provincial-level regions in China, GD Power maintains diversified operations spanning thermal, hydro, wind and PV power. This nationwide footprint positions the company as a key contributor to China's transition toward a modern energy system.
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Pipeline Technology Journal
Spain Unveils Plan For Europe'S Largest Hydrogen Pipeline Network Spanning 2,600 KmSpain's energy operator Enagás has officially launched the public participation plan for the country's ambitious hydrogen backbone network, a sprawling infrastructure project poised to become Europe's largest of its kind.
Unveiled at the National Hydrogen Centre in Puertollano, Castilla-La Mancha, the announcement marks a pivotal moment in Spain's strategy to position itself as a leading continental hydrogen hub.
The proposed network will span 2,600 kilometers, reaching 13 autonomous communities and connecting more than 550 municipalities across Spain.Â
Recognized by the European Union as a Project of Common Interest (PCI), the hydrogen backbone has already secured over 75 million euros ($80.5 million) through the EU's Connecting Europe Facility.Â
This substantial backing underscores Brussels' view of Spain's potential to anchor Europe's future hydrogen economy, linking renewable energy sources in Iberia with industrial demand centers further north.
According to Enagás, a significant portion of the infrastructure will utilize converted natural gas pipelines, a method expected to accelerate deployment and reduce costs while minimizing environmental impact compared to building entirely new lines.
Last week, during the launch of the public consultation related to the massive hydrogen project, Arturo Gonzalo, CEO of Enagas, said the project was advancing ahead of schedule in Spain, adding that it could be operational by 2030.Â
"The project is starting to become a reality, it is progressing at a very good pace, even faster than expected," he said last Friday.
"Today, we are setting in motion a key milestone to make a hydrogen infrastructure a reality in Spain."
Currently, Enagás is moving forward with engineering studies for critical components such as compression stations, valve points, and necessary safety upgrades to ensure reliable network operations upon completion.
The final investment decision is anticipated in 2027, with the construction work beginning in 2028. The finished network will feature five primary corridors, including strategic routes like the VĂa de la Plata and the Ebro Valley.
Additionally, it will integrate with the cross-border H2Med corridor, establishing direct hydrogen links between Spain, Portugal, and France and solidifying Spain's role as a vital energy bridge for Europe.oil-gas
30 April 2025
Energy Capital Power
Afreximbank Launches $3B Intra-African Oil Trade FacilityThe African Export-Import Bank (Afreximbank) has unveiled a $3 billion Revolving Intra-African Oil Trade Financing Program, aimed at reducing the continent’s reliance on imported petroleum products.
The initiative is expected to finance between $10-14 billion worth of intra-African petroleum trade – including premium motor spirit, automotive gas oil, heavy fuel oil, kerosene and jet fuel – bolstering the continent’s internal refining capacity. It supports key objectives of the African Continental Free Trade Area, including promoting trade, industrialization and job creation, while also advancing Afreximbank’s mission to enhance energy security and economic resilience across Africa.
“While the program will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa, it will also have a multiplier effect on the downstream petroleum value chain as it will catalyze critical investments in shipping and marine logistics for intra- and extra-African trade of crude oil and refined products,” said Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank.
The bank aims to help build a combined refining capacity of 1.3 million barrels per day across the continent. Projects benefiting from its support include Nigeria’s Dangote Refinery, the 210,000-barrel-per-day (bpd) Port Harcourt facility, the Bua and Azikel refineries, Angola’s upcoming 200,000-bpd Lobito and 60,000-bpd Cabinda refineries, and Ivory Coast’s SIR refinery.oil-gas
30 April 2025
Pipeline Gas Journal
Indian Oil Inks $1.4 Billion Lng Supply Deal With Trafigura(Reuters) — Indian Oil Corp. has signed a five-year import deal with trader Trafigura to buy 2.5 million metric tons of liquefied natural gas (LNG) in a $1.3–$1.4 billion deal, Chairman Sahney said on April 30.
Supplies under the deal would begin from the second half of this year, he said, adding that the price of the LNG is linked to the U.S. Henry Hub benchmark.
Trafigura will supply 2.5 million tonnes of LNG, equivalent to about 27 cargoes under the deal, he said.
Earlier in the day, Reuters had reported, citing sources, that Trafigura will supply three to four LNG cargoes this year and six cargoes annually from next year.
India is looking to raise its imports of U.S. energy to fix its trade balance with the world's top economy, and traders are looking to reroute some of the LNG meant for China into India, one of the sources said.
India is the world's fourth-largest LNG importer, shipping in 26.58 million metric tons of the fuel last year, according to Kpler data.
The U.S. is India's second-biggest supplier, but the two sides are looking to ramp up volumes for India's energy-hungry economy, one of the fastest growing in the world.
Reuters reported in March that India is considering a proposal to scrap import taxes on U.S. LNG to boost purchases and cut its trade surplus with Washington.
LNG importer GAIL India had also recently issued a tender seeking a stake in an LNG project in the U.S., along with a 15-year import deal.oil-gas
30 April 2025
Pipeline Gas Journal
Vaquero Midstream To Build 70-Mile Pipeline, Expand Gas Processing Near Waha Hub(P&GJ) — Vaquero Midstream announced plans to significantly expand its natural gas gathering and processing infrastructure in the Southern Delaware Basin with a new 70-mile high-pressure pipeline and a 200 MMcf/d cryogenic processing plant.
The Dallas-based company said the 24-inch pipeline will loop its existing gathering system, running from its processing complex near the Waha Hub in Pecos County, Texas, to its existing infrastructure in Loving County. The expansion will increase gathering capacity from 400 MMcf/d to approximately 800 MMcf/d and extend Vaquero’s reach into Ward, Winkler and Loving counties.
RELATED: Vaquero Midstream Secures $400 Million for Delaware Basin Expansion Projects
“Vaquero is dedicated to maintaining its position as one of the most reliable midstream operators in the Delaware Basin,” said Harrison Holmes, CEO of Vaquero Midstream. “This expansion of our gathering system will be key in providing direct access on Vaquero’s system from northern Reeves and Loving Counties to our processing complex near Waha. Our continued goal is to offer producers a unified gathering platform, supported by downstream market connectivity and reliable power infrastructure.”
Project Highlights:
Gathering System Expansion
Cryogenic Processing Plant
Both projects are backed by the company’s $400 million credit facility, led by BOK Financial.oil-gas
29 April 2025
Offshore Technology
Ukraine’S Naftogaz Secures $466M Financing For Purchasing GasUkraine-based Naftogaz has secured a total of €410m ($466.4m) in funding for the immediate procurement of one billion cubic metres of natural gas.
This financial package, which will be disbursed via the European Bank for Reconstruction and Development (EBRD), comprises a €270m loan from the EBRD and a €140m grant from the Norwegian Government through the NORAD fund.
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The agreements were signed by Roman Chumak, acting chairman of the board at Naftogaz, and Mark Magaletsky, deputy director of the EBRD in Ukraine.
Chumak confirmed that the financing is already accessible and that the company is promptly utilising it for gas imports.
He emphasised that collaboration with international financial institutions is a pivotal element of Naftogaz’s long-term strategy to diversify supply sources and ensure Ukraine’s energy stability.
“These funds are critical for Naftogaz. They will allow us to purchase nearly 1bcm of gas, which is essential to ensure a stable heating season amid the ongoing war and repeated attacks on energy infrastructure. We are grateful to all partners supporting our preparations for next winter,” Chumak said.
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The financing was secured with support from the Ukrainian Government, the Ministry of Economy of Ukraine, Ukraine’s Ministry of Finance, the Ministry of Energy of Ukraine and Norway’s Ministry of Foreign Affairs.
Naftogaz also recently expanded its partnership with Polish energy company Orlen, signing a deal for the additional supply of 100 million cubic metres of natural gas to Ukraine.
This marks the third contract under a long-term collaboration framework between the two entities, aimed at bolstering regional energy security.oil-gas
29 April 2025
Gulf Oil and Gas
The Liaohe Gas Storage Group Injected More Than 20 Billion Cubic Meters Of GasThe cumulative gas injection volume of the Liaohe gas storage group exceeded 20 billion cubic meters. The 12th round of gas injection is currently being carried out, injecting more than 10 million cubic meters of natural gas into the ground every day to continue to "prepare for" winter supply.
The Liaohe gas storage complex is a key project planned by the state and the largest gas storage complex in operation in Northeast China. In recent years, Liaohe Oilfield has vigorously promoted the construction of "10 billion cubic meters of gas storage" and promoted the expansion and production of gas storage. At present, three gas storages, Shuangtaizi, Lei 61 and Ma 19, have been put into operation.
At present, Liaohe Gas Storage Company uses high-precision seismic exploration technology in Shuangtaizi Gas Storage Double 6 Block to accurately locate high-quality reservoirs, increase gas storage space, and improve gas storage capacity. At the same time, it continues to improve supporting facilities, build multiple gas pipelines, and connect the gas storage with the three major gas transmission networks; actively explore new technologies, develop gas storage injection and production optimization technologies, and use big data and artificial intelligence technologies to predict natural gas demand and gas storage operation status, reduce operating costs, and ensure efficient and stable operation.
To ensure the smooth progress of this round of gas injection, the Liaohe gas storage group accurately assessed the geological conditions and expanded the effective storage capacity of the gas storage. Based on historical gas usage data and market demand forecasts, a detailed injection and production plan was formulated. With the help of information technology, the pressure, flow and other operating parameters of the gas storage were monitored in real time, and the injection and production strategy was scientifically adjusted to ensure that quick and effective measures could be taken in the face of various emergencies.oil-gas
29 April 2025
Pipeline Gas Journal
Spain’S 1,615-Mile Hydrogen Network Advances Ahead Of Schedule, Enagas Says(Reuters) — Plans to build a 2,600 km (1,615 mile) hydrogen network in Spain are advancing ahead of schedule and the infrastructure is on track to start operations in 2030, the chief of Spanish gas grid operator Enagas said on Friday.
The network will be part of the planned trans-European H2Med corridor aimed at connecting the Iberian region with northwest Europe.
The company plans to take a final investment decision in 2027 and start construction the following year, CEO Arturo Gonzalo said at an event to launch a public consultation process related to the project.
The Spanish network will include new pipelines as well as some repurposed gas assets, he said, for an overall investment of some 2.6 billion euros ($2.95 billion).
"The project is starting to become a reality, it is progressing at a very good pace, even faster than expected," he said.
"Today we are setting in motion a key milestone to make a hydrogen infrastructure a reality in Spain."
Enagas is among the staunchest supporters of a green hydrogen industry, which uses renewable energy for its production, and still faces high costs, heavily depends on subsidies and is struggling to find buyers for its production.
With Spanish gas demand falling, the company is diversifying into managing a network of hydrogen infrastructure. It is also targeting ammonia and CO2 capture. To fund its plans, it has sold assets, reduced dividends and cut debt.
The plans are in line with Spain's ambitious green agenda. Thanks to abundant solar and wind power, the country is vying to be a European leader in green hydrogen. It set a 2030 target of 12 gigawatts for electrolyzers used to make green hydrogen.
($1 = 0.8811 euros)oil-gas
28 April 2025
Arabian Gulf Business Insight
Oman To Build 400Km Hydrogen Pipeline NetworkOman’s natural gas network operator OQ Gas Networks (OQGN) is planning to build a dedicated hydrogen pipeline by 2030, in line with a strategy to develop the sultanate’s renewables sector.Â
The funding approval for the 300-400 kilometre project is expected by 2027, Oman Daily Observer reported, citing the majority state-owned company’s 2024 annual report.
OQGN will follow a phased approach, starting with regional pipelines which can expand into a nationwide network.Â
“By 2030, the company expects 300-400km of hydrogen pipelines to be built, with the final investment decision expected by 2027,” the company said in the annual report.
The pipeline will support eight consortiums currently developing green hydrogen projects in Al Wusta and Dhofar governorates.Â
OQGN is collaborating with Oman’s state-run hydrogen company Hydrom on the technical aspects of the pipeline system.Â
The company also conducted a study last year to evaluate the complexities of developing hydrogen infrastructure and its commercialisation.Â
Additionally, OQGN is planning a carbon dioxide (COâ‚‚) transport network to link emission sources with storage and utilisation sites.Â
Some COâ‚‚ will be stored underground for carbon capture and storage (CCS) projects, while other volumes will be used as feedstock in industries such as fertilisers, desalination, and enhanced oil recovery in upstream oil and gas operations, OQGN said in the annual report.
Oman has announced a number of hydrogen-related projects this year.Â
The HyDuqm green hydrogen project in Oman, led by a consortium of France’s Engie and South Korea’s Posco, said in March it expects to attract $7 billion to $8 billion in investment to reach full capacity.
Earlier this month, the Gulf state also signed an official agreement to develop a liquefied hydrogen corridor for exports to Europe. The idea was first announced during Cop28 in Dubai in 2023.
The hydrogen rainbow
The hydrogen rainbow
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28 April 2025
Gulf Oil and Gas
Liaohe Oilfield: Refreshing Concepts And Gathering Strength To "Return To 10 Million Tons"China Petroleum Network News, after the coordinated adjustment of the steam injection volume of two surrounding related well groups, the daily output of the Liaohe Oilfield SAGD well - Du 84-Guan H59 well increased by more than 20 tons. "By changing 'one well, one policy' to 'one reservoir, one policy', and changing the single well regulation to regional overall regulation, the remaining oil underground has been more fully utilized." Xiao Juan, a third-level engineer at the Shuguang Oil Production Plant of Liaohe Oilfield, said.
Faced with the difficulties of increasing imbalance between reserves and production and difficulty in reducing costs, Liaohe Oilfield took the new round of "changing concepts, daring to innovate, strengthening management, and creating first-class" themed education activities as an opportunity to place "changing concepts" in a more prominent position. Through multi-form learning, multi-dimensional lectures, and multi-angle discussions, it promoted cadres and employees to change ten concepts such as "one policy for each well" and "alley thinking", and established ten new concepts such as "one policy for each layer, one policy for each storage area", and "breaking a penny into three petals", so as to lead a major breakthrough in development with a major change in concepts.
The Liaohe Oilfield Party Committee has integrated the study and application of the Party's innovative theories throughout the entire process of the theme education activities. Team members, in combination with their division of labor, systematically sorted out outdated concepts in their respective business areas that are not adapted to the new situation, and focused on development goals to clarify new ideas and measures. The company's Party Committee has set up a "Sound of Liaohe" lecture group led by the main leaders, and adopted methods such as company leaders taking the lead in speaking, the heads of the headquarters' departments and offices going to the second-level units to carry out full coverage lectures, the headquarters sending people to speak at the grassroots level, and AI radio cloud lectures to promote new concepts and new requirements to take effect at the grassroots level. Party organizations at all levels held a large discussion around the theme of "Restoring Glory with Me" to further consolidate the ideological synergy of crude oil "returning to tens of millions of tons".
Change the concept, the headquarters takes the lead. "In the past, fracturing measures were concentrated on oil wells, and water well fracturing was less, resulting in insufficient energy replenishment..." In the theme education discussion organized by the Oilfield Development Division, various new viewpoints and new ideas collided fiercely, promoting the development concept from "developing oil and gas reservoirs" to "operating oil and gas reservoirs". Since the beginning of this year, the development system has promoted the "seven thousand projects" such as fine injection of 1,000 wells and fracturing transformation of 1,000 wells to replenish the underground "vitality" and rebuild a good development order. As of the end of March, more than 1,500 wells have implemented various production increase measures this year, increasing oil by 756 tons per day and increasing water (steam) injection by more than 600 cubic meters per day.
All grassroots production units take "changing concepts" as the forerunner to solve problems. "The temperature of heavy oil pipeline transportation cannot be lower than 45 degrees Celsius, otherwise it will block the pipeline." This is the practice that Station 13 of Huanxiling Oil Production Plant has adhered to for more than 30 years. In the theme education activities, the party branch of the station focused on the hypothesis of "whether cold transportation without heating is feasible" to discuss, guide everyone to establish the cost control concept of "breaking a penny into three petals", and organize party members and technical backbones to tackle the cold transportation technology of some high-water-content heavy oil wells. After the shutdown of the furnace for cold transportation of 4 wells with a wellhead temperature of about 30 degrees Celsius, the daily solar term of a single furnace reached 150 cubic meters.oil-gas
28 April 2025
Arabian Gulf Business Insight
Saudi Crude Oil Exports Rise To 6.5M Barrels Per DaySaudi Arabia’s crude oil exports in February rose to 6.55 million barrels per day (bpd) from 6.07 million bpd in January, official data showed on Tuesday.
The world’s largest oil exporter’s crude output for February was at 8.95 million bpd, up from 8.92 million bpd in January.
Saudi refineries’ crude throughput was at 2.62 million bpd in February, up 0.16 million bpd from January’s 2.46 million bpd, the data showed.
Direct crude burning increased by 8,000 bpd to 283,000 bpd in February, having fallen in January by 4,000 bpd from December to 275,000 bpd.
Saudi Arabia and other members of Opec provide monthly export figures to the Joint Organisations Data Initiative, which publishes them on its website.
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23 April 2025Energy Capital Power
Gulf Energy To Acquire Tullow Oil’S Kenyan Portfolio For $120MEnergy development firm Gulf Energy has signed a Heads of Agreement with independent energy company Tullow Oil for the acquisition of its Kenyan subsidiary, Tullow Kenya. The $120 million deal covers Tullow’s entire asset base in Kenya and features a back-in right clause allowing Tullow Oil to acquire a 30% participation in future development phases at no cost.
Under the terms of the agreement, Gulf Energy will pay $40 million upon completion of the deal and an additional $40 million following the approval of the Field Development Plan or by June 30, 2026. The final $40 million installation is payable over five years from Q3 2028. A Sale and Purchase Agreement is targeted for the coming months, with receipt of first payment expected in 2025.
“I am confident that the proceeds from this transaction, coupled with the $300 million from the disposal of our assets in Gabon, position the business strongly for a successful refinancing. We look forward to working with Gulf Energy, who have the requisite financing to complete the transaction and are a strong and credible counterparty, and by doing so, unlock material value for the people of Kenya,” said Richard Miller, CFO and Interim CEO, Tullow Oil.oil-gas
21 April 2025Pipeline Gas Journal
Spain Approves $455 Million In Aid To Boost Renewable Hydrogen Production(P&GJ) — The European Commission has approved a €400 million (approximately $455 million) Spanish state aid program to support renewable hydrogen production through the European Hydrogen Bank’s “Auctions-as-a-Service” tool, part of the EU's broader push for decarbonization and energy independence.
The scheme will fund the construction of up to 345 megawatts of electrolyzer capacity and enable the production of as much as 221,000 tonnes of renewable hydrogen in Spain. Officials estimate this could prevent up to one million tonnes of carbon dioxide emissions.
The aid, to be awarded through a competitive bidding process, will be provided as a direct grant per kilogram of renewable hydrogen produced and will last up to 10 years. Projects must comply with EU renewable fuel standards, including criteria for emissions reductions and renewable energy sourcing.
The Commission cited improved environmental outcomes, minimal market distortion, and strategic alignment with the European Green Deal as reasons for the program's approval. The aid will support Spain’s target of installing 12 gigawatts of electrolyzer capacity by 2030 and contribute toward broader EU hydrogen and energy transition goals.
Spain's program follows similar national initiatives by Germany, Austria, and Lithuania and reflects growing interest in harmonizing national and EU funding through the Hydrogen Bank’s auction framework.oil-gas
21 April 2025Gas Processing and LNG
Ukraine'S Naftogaz Says It Seeks €1 B To Purchase More Than 2 Bm3 Of GasUkraine's state oil and gas firm Naftogaz is in talks with the government and international financial institutions to raise €1 B to purchase over > 2 Bm3 of gas for the 2025–2026 heating season, the company said on Monday.
It said in a statement that €430 MM from the EBRD and Norway would be used to purchase an additional 1 Bm3 of gas and another 100 MMm3 of LNG would come from Poland's Orlen.
Ukraine has been forced to ramp up gas withdrawals from storage and increase imports this winter and spring after Russian missile attacks damaged production facilities in the east of the country.
"Since the beginning of the year, 1.5 Bm3 of gas has been contracted: 800 MMm3 were urgently imported at the beginning of the year, and 400 MMm3 will be delivered to Ukraine in preparation for the next winter," Naftogaz CEO Roman Chumak said in a statement.
He said that a total of 300 MMm3 of LNG would be received from Poland's Orlen.
Industry sources said earlier this month that Orlen aims to sell 10 cargoes of LNG to Ukraine this year as Kyiv seeks to fill gas storage sites ahead of winter.
Ukraine has already received 2 cargoes with 200 MMm3 of LNG.
The former head of the Ukrainian gas transit operator, Serhiy Makogon, said on Sunday that the country needed to import up to 6.3 Bm3 of gas for the 2025–2026 winter season as reserves have fallen to a record low due to war-related damage to some facilities.
Makogon noted that Naftogaz had announced the required volume of imports at a lower level of 4.6 Bm3.
Production, storage. Naftogaz, the major Ukrainian gas producer, said it had managed to increase gas production by almost 10% in 2024 to 14.6 Bm3, the highest level since 2017 despite constant Russian missile and drone attacks on its facilities.
"The most devastating attack was in February 2025, which caused significant damage to state gas production, with losses of almost 50% of the volume," Naftogaz said.
The company produced 13.3 Bm3 of gas in 2023.
Naftogaz also said its underground storage facilities were attacked this January and "if there are new strikes, the equipment for repairs is on its way."
Ukrainian underground gas storage facilities are the largest in Europe and the third largest in the world and can store around 30 Bm3 of gas.oil-gas
21 April 2025Pipeline Gas Journal
$182 Million Gas Pipeline Replacement Project Kicks Off In Southeast Michigan(P&GJ) — Consumers Energy has launched construction on its Four Cities Metro Pipeline project, a $182 million upgrade to ensure continued natural gas reliability for customers across Oakland and Macomb counties.
The project will replace aging infrastructure serving the cities of Royal Oak, Clawson, Madison Heights, and Warren, with eight miles of new 24-inch pipeline expected to be installed by 2029. Construction is now underway at four intersections in the metro Detroit region.
“Replacing and modernizing this large-scale pipeline means people in metro Detroit will continue to have safe and reliable service,” said Holly Bowers, Consumers Energy’s vice president of natural gas engineering and supply. “This project is a critical part of our work to deliver natural gas around the clock 24/7/365, today and in the future.”
The Four Cities Metro Pipeline replaces segments of a system originally built in the 1950s. Consumers Energy has coordinated with local governments to minimize disruptions and adjust pipeline routing where needed. The project is expected to create about 100 construction jobs annually.
“We serve over 750,000 homes and businesses in Oakland and Macomb counties, and we’re committed to providing them with natural gas that’s safe, affordable and reliable,” said Chris Fultz, Consumers Energy’s vice president of natural gas operations. “We appreciate the patience of our customers as we do this important work and promise to work with communities to address any questions or concerns.”
Consumers Energy provides natural gas and electricity to 6.8 million Michigan residents across 68 Lower Peninsula counties.oil-gas
19 April 2025Pipeline Gas Journal
Intensity Launches Open Season For 208-Mile Bakken Gas Pipeline Expansion(P&GJ) — Intensity Infrastructure Partners LLC has launched an open season for the Phase II Extension of its proposed Intensity Pipeline project, following positive feedback from stakeholders during its initial open season earlier this year.
The extension includes construction of 208 miles of 30-inch natural gas transmission pipeline, mainline compression, and interconnection facilities to expand the pipeline’s reach across eastern North Dakota. It will connect with the planned Phase I pipeline in southern McLean County and extend to Casselton, North Dakota. The expected in-service date is January 1, 2030.
When complete, Phases I and II will make up a 344-mile system of 36-inch and 30-inch pipe with an initial capacity of approximately 1.1 billion cubic feet per day (Bcf/d), expandable to 1.5 Bcf/d with added compression. Final project design will be shaped by customer demand during this second open season.
Intensity said the decision to launch the second open season, which will run from April 17 through May 23, 2025, was driven by “significant interest and support from community leaders, government agencies and potential customers.”
During the open season, interested parties can submit a Service Interest Form specifying their desired transport capacity, contract term, rate, and preferred receipt and delivery points.
Customers can contact Matthew Griffin at mgriffin@intensityinfra.com for bidding details, while other stakeholders are invited to reach out to Mike Higgins at mhiggins@intensityinfra.com.oil-gas
18 April 2025Arabian Gulf Business Insight
Saudi Arabia And Uae To Cut Oil Output In Opec’S Latest PlanOpec has received updated plans for seven countries including Saudi Arabia and the UAE to make further oil output cuts to compensate for pumping above agreed quotas, the group said on Wednesday.
Opec+, which includes Opec plus Russia and other allies, has implemented a series of output cuts since late 2022. Its compensation plan is designed to ensure that members who do not make the cuts in full implement further reductions.
The latest plan requires seven nations to cut output by a further 369,000 barrels per day (bpd) in monthly steps between now and June 2026, compared with an earlier plan running from March until next June, according to Reuters calculations.
Under the latest plan, monthly cuts will range from 196,000 bpd to 520,000 bpd from this month until June 2026, up from between 189,000 bpd and 435,000 bpd previously.
Should the latest cuts be made in full, the compensation plan would to a large extent offset a planned 411,000 bpd output increase being made by other members of Opec+ in May, providing additional support for the oil market.
The seven members making the cuts are Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan and Oman. Algeria has no required cut.
Opec+ has repeatedly revised the plan after countries did not make the cuts as pledged.
Iraq, the group’s largest overproducer, plans to step up efforts to deliver on its compensation cuts. A source said its crude allocations to customers for May cargoes are much lower.
“We need more reduction to meet the compensation plan,” the source said.
Iraq needs to compensate for a total of 1.93 million bpd of overproduction by June 2026. Kazakhstan needs to make the second-largest cut of 1.3 million bpd in the same timeframe.
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17 April 2025Arabian Gulf Business Insight
Turkey’S Largest Refiner Buys Russian Oil After Price DropTurkey’s largest oil refiner Tupras has returned to buying Russian Urals crude cargoes, after it stopped doing so earlier this year due to stronger US sanctions on Moscow, according to three trading sources and shipping data.
Tupras did not immediately reply to a Reuters request for comment.
The three sources said Tupras resumed its purchases after prices for Urals crude fell to its lowest levels since 2023, earlier this month, dropping comfortably below a G7 price cap level of $60 a barrel.
The price cap imposed by the Group of Seven countries, the European Union and Australia bans the use of Western maritime services such as insurance, flagging and transportation when tankers carry Russian oil priced at or above $60 a barrel.
Since October the US treasury department has imposed sanctions on multiple tankers suspected of breaching the price cap.
Tupras became one of the biggest importers of Russian crude after Moscow’s invasion of Ukraine in 2022, with Russian oil representing 65 percent of the country’s total oil imports in January-November 2024, according to data from Turkey’s energy regulator.
The company halted purchases of Russian crude in February because of mounting concerns around US sanctions following the extensive package announced on January 10.
Tupras will receive at least two cargoes of Urals for April loading, trading sources with knowledge of the matter said.
One of the cargoes is already on the water. The Nissos Christiana loaded around 730,000 barrels of Russian Urals crude from the Baltic port of Ust-Luga on April 3, data from Kpler showed.
It is due for delivery to Izmit on April 21, where Tupras operates a 225,800-barrel-per-day capacity oil refinery.
It was not immediately clear if any other vessel had been fixed for Tupras’s additional cargo purchase.
Tupras is the largest refiner in Turkey with two refineries at Izmit and Izmir, which have a combined crude processing capacity of 467,300 bpd, according to LSEG data.
When it halted Russian purchases, Tupras turned to alternative crude grades, including making its first purchase of Brazilian oil last month.
Other sources of Tupras’s March-April crude imports include Guyana, Nigeria, Libya and Norway, according to Kpler data.
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17 April 2025World Oil
Liberty Energy Sees U.S. Oil Activity Holding Firm With Prices Above $60(Bloomberg) – Liberty Energy Inc., one of the biggest U.S. fracing companies, expects most producers to stick with their production plans as long as crude prices can hang on near current levels.Â
“If oil stayed in the low $60s, well, that’s not an exciting environment for us by any stretch of the imagination,” Liberty Chief Executive Officer Ron Gusek said during a call with analysts Thursday. “At most we probably feel modest ripples in activity levels.”
If US oil futures dip into the $50s, however, companies are apt to start dropping drilling rigs, Gusek said. But it was premature, he said, to forecast how much production would slow.Â
West Texas Intermediate rose 3% Thursday to $64.54 a barrel.Â
Liberty, formerly run by U.S. Energy Secretary Chris Wright, is the first large oil-service company to report earnings since crude prices began plunging in the wake of U.S. President Donald Trump’s trade war and OPEC’s decision to raise a planned production increase later this year. The rout has hammered oil companies’ share prices and threatened to undermine drillers’ plans to modestly increase U.S. production this year.
Denver-based Liberty has been among the hardest-hit companies, with its shares down about 20% since Trump announced the tariffs earlier this month. The stock surged as much as 13% Thursday after the company reported higher-than-expected first-quarter sales.
The company’s crews are currently working to hold production flat, Gusek said. Despite the recent volatility, he doesn’t expect oil and gas companies to make any sudden changes to their drilling plans.Â
“It’s unlikely that we’re going to have any of our customers remove a pad in the next month or two,” Gusek said. “It’s my expectation that to the extent we do see some changes, that’s going to be back half of the year.”oil-gas
17 April 2025Energy Capital Power
Nigeria’S Walcot Group Secures 3 Oil Blocks In AngolaNigerian conglomerate Walcot Group has signed a production sharing contract with Angola’s national concessionaire the National Agency for Petroleum, Gas and Biofuels (ANPG) for three onshore oil blocks.
The agreement was formalized on April 7, granting Walcot full operatorship of Blocks CON 3 and CON 7 in the Lower Congo Basin. The blocks hold a combined prospective resource base of over 2 billion barrels of oil.
In addition, the company acquired a 10% stake in Block KON 13, located in the Kwanza Onshore Basin. The Block is operated by Nigerian oil and gas company Oando Energy Resources.
In January 2025, Walcot Group submitted nine proposals for five blocks in the Kwanza Onshore Basin, including KON 1, KON 3, KON 7, KON 10 and KON 14. The selection was based on evaluations of financial and technical capacity, as well as suitability.oil-gas
17 April 2025Energy Capital Power
Drc Advances Oil Rights For SonahydrocThe Democratic Republic of the Congo’s (DRC) Council of Ministers has approved a draft decree that grants state-owned oil company SONAHYDROC the rights to Blocks 1 and 2 in the Albertine Graben.
The decree was introduced on April 11 by Hydrocarbons Minister Aimé Sakombi Molendo during the Council’s 39th meeting. It allows for the direct allocation of the two blocks to SONAHYDROC under a service contract.
Located in eastern DRC, the Albertine Graben is seen as a high-potential zone for oil exploration. By awarding these blocks directly to SONAHYDROC, the government aims to fast-track exploration and production while strengthening national participation in the development of strategic resources.
The decree sets out the legal and fiscal terms for this allocation, ensuring it adheres to the existing regulatory framework. It also reflects the government’s broader strategy of leveraging state-owned enterprises to drive resource development.oil-gas
17 April 2025