Royal Dutch Shell plc ("Shell") on January 2 announced the successful completion of the acquisition of Repsol S.A.'s ("Repsol") liquefied natural gas (LNG) portfolio outside North America for a headline cash consideration of $4.1 billion.
Fast-growing oil and gas producers Russia and North America are spending billions of dollars on pipelines and port facilities to supply energy to Asia, intent on grabbing a bigger share of the world's fastest growing fuel market from Middle East suppliers, Reuters said o
Despite rising production and commodity prices, investing at North American oil fields has turned sluggish.
Shale gas could stimulate demand and consumption in North America rather than affecting global markets, said Gas Exporting Countries Forum (GECF) secretary general Leonid Bokhanovskiy.
The supply shock caused by the North American oil production booming in the next five years will not only have impact on global investment but also reshape transportation, storage and refinery of oil, the International Energy Agency (IEA) said Tuesday, Xinhua reports.
The International Energy Agency said it has concerns about the safety of oil cargoes carried by rail in the United States, UPI reports.
The U.S. shale boom will send “shockwaves” through the global oil trade over the next five years, benefiting the nation’s refiners and displacing OPEC as the driver of supply growth, the IEA said, according to Bloomberg.
Arctic territory off the northern coast of Alaska is a key element of U.S. national and energy security interests, a national plan states, UPI reports.
The number of gas rigs in the U.S. declined by four this week to 350, according to Baker Hughes Inc. It’s the lowest total since June 1995, Bloomberg reports.
Shipments of refined oil products including diesel and gasoil to Europe from the U.S. Gulf Coast are poised to reach the highest level since January, a Bloomberg News survey showed.