Santos Ltd. of Australia announced that it will proceed with constructing a $2.6 billion oil project in Alaska. This unexpected announcement caused the energy producer's shares to decline despite the company reporting a record first-half profit.
Shell announced its intention to shut down a crucial Gulf of Mexico crude oil pipeline that transports oil to refineries in Louisiana for two weeks in September.
Russia's state-owned gas company Gazprom warned that this winter, European gas prices might rise by 60% to more than $4,000 per 1,000 cubic meters as the company's own export and production continue to decline as a result of Western sanctions.
Germany signed a memorandum of understanding (MoU) on Tuesday for the provision of two floating liquefied natural gas (LNG) gas terminals with the nation's main gas importers Uniper (UN01.DE), RWE (RWEG.DE), and EnBW's (EBKG. DE) VNG (VNG.UL), Reuters reported .
Baker Hughes announced an agreement for its acquisition of Quest Integrity, a subsidiary of Team, Inc and a global leader in the development and delivery of technology-enabled asset inspection and reliability management solutions across the pipeline, refining, petrochemical and power generation sectors.
The cost of light crude oil, heavy crude oil, and Forouzan crude for sale in September has been fixed by the NIOC's international affairs division at $9.50, $6.30, and $6.40, respectively, over the average oil price between Oman and Dubai.
Swiss Energy Minister Simonetta Sommaruga stated that her country could potentially avoid an energy shortage by agreeing to and following the European Union's plan to cut gas use by 15% this winter.
Saudi Arabia's Kingdom Holding invested in Russian energy groups Gazprom, Rosneft and Lukoil, Reuters reported.
A ceremony was held in Lithuania to mark the commencement of construction of PC ORLEN Lietuva’s new Residue Conversion Unit at Mažeikiai Refinery, the only crude oil refinery in the Baltic States.
Department for Business, Energy, and Industrial Strategy (BEIS) announced that Equinor’s Hydrogen to Humber Saltend (H2H Saltend) production facility has been successfully progressed through Phase-2 of the Government’s cluster sequencing process.
