Oil & Gas Equipment

Abu Dhabi National Oil Company ( ADNOC) raised $935 million from an extra 5.5% sale of shares in its drilling system to institutional investors, it stated in a declaration on Thursday. The transaction, which was revealed on Wednesday, makes up a sale of 880 million shares priced at 3.90 dirhams, at a 5.6% discount to the closing cost of 4.13 dirhams on May 22. It follows ADNOC Drilling's IPO more than two years back, when the business priced shares at 2.3 dirhams a piece, raising $1.1. billion. The stock soared about 30% on its launching. ADNOC stated the transaction will...

U.S. pipeline operator Kinder Morgan Inc has actually obtained oil and gas making possessions in West Texas and is preparing to tap U.S. carbon capture incentives to increase output from the residential or commercial properties, according to individuals knowledgeable about the matter. The purchase shows how the U.S. Inflation Reduction Act's. $ 60 per metric load tax credit for carbon sequestration is. spurring oil and gas offers by increasing the attractiveness of. older oil-producing areas, among individuals said. The company. paid about $100 million for the oilfield, according to one of. the people, which first produced oil in the 1920s...

LONDON, May 20 - Dutch and British wholesale gas prices rose on Monday early morning amidst supply concerns due to an upcoming Norwegian upkeep outages and a continuous interruption at Gorgon LNG facility in Australia. The benchmark front-month contract at the Dutch TTF hub inched up by 0.93 euro at 31.66 euros per megawatt hour ( MWh) - equivalent to by 0856 GMT, while the day-ahead agreement was up 1.08 euro at 31.83 euro/MWh according to LSEG data. In the British market, the front-month agreement rose by 2.3 cent to 76.05 cent per therm, while the day-ahead agreement was 4.50...

Power use in Texas will likely break records for the month of May next week as homes and organizations crank up their a/c unit to leave a spring heat wave, the state's electrical grid operator predicted on Friday. That heat will follow severe storms that pounded the Houston location with hurricane-force winds on Thursday, killing at least 4 people, blowing windows out of skyscrapers and leaving some 800,000 homes and organizations without power as much of the city was plunged into darkness. Severe weather in Texas is similar to the February freeze in 2021 that left millions without power, water...

Gas streaming to Freeport LNG's. export plant in Texas was on track to hit a fivemonth high up on. Friday, LSEG information showed, with a liquefaction train expected to. return from a short upset on Thursday. The start-up and shutdown of Freeport and other U.S. liquefied gas (LNG) export plants frequently has a major. impact on international gas rates. U.S. gas futures at the Henry Hub standard in. Louisiana have soared by around 59% over the past 3 weeks,. due in part to the boost in feedgas at Freeport after it. left a blackout in late April. U.S. gas futures...

LONDON, May 17 - Dutch and British wholesale gas prices edged up on Friday morning due to an upcoming Norwegian upkeep failures and falling wind output. The benchmark front-month contract at the Dutch TTF hub inched up by 0.25 euro at 30.90 euros per megawatt hour ( MWh) by 0907 GMT, while the July agreement was up 0.30 euro at 31.15 euro/MWh according to LSEG information. In the British market, the weekend contract rose by 1.65 cent to 73.00 pence per therm. Norwegian failures have contributed to some upside however the majority of the remainder of the signals are bearish,...

Pembina Pipeline Corp stated on Thursday development on its proposed $4 billion Cedar job remains on track and a last financial investment choice (FID) is anticipated in June on what would be among Canada's first liquefied gas export terminals. Cedar, a joint endeavor between indigenous community Haisla First Country and Pembina, would produce 3.3 million tons of melted gas (LNG) per year after completion in 2028. We do have all crucial regulative licenses. Cedar financing has been launched and is on target for that FID timing ... We have extremely well defined plans that have actually been finished and the...

Pipeline operator TC Energy Corp. said on Wednesday it disagreed with the Delaware. Chancery Court's decision of assigning liability for earlier. damages in an ongoing class action lawsuit associated to its 2016. acquisition of Columbia Pipeline worth $13 billion. Vice Chancellor Travis Laster of the Delaware Chancery Court. ruled that TC Energy needs to pay $199 million to sell-side. shareholders of Columbia due to the company, along with 2. former executives of Columbia Pipeline, not revealing material. information in the face of a responsibility to divulge. Submitted in July 2018, ex-Columbia CEO Robert Skaggs and CFO. Stephen Smith were accused...

U.S. natural gas pipeline endeavor Mountain Valley Pipeline stated on Friday it repaired a segment of pipeline that stopped working a water test earlier in the month and will continue to prepare the longdelayed West VirginiaVirginia pipe for service. The endeavor was on track to finish the $7.85 billion project by the end of May, U.S. energy company Equitrans Midstream , the lead partner in the Mountain Valley venture, stated in late April. Mountain Valley continues to expect to complete building and construction and last commissioning activities on or about May 31, 2024, an Equitrans representative said. Mountain Valley made...

U.S. energy firms this week cut the number of oil and gas rigs running for a 3rd week in a row, energy services firm Baker Hughes stated in its carefully followed report on Friday. The oil and gas rig count, an early sign of future output, fell by 2 to 603 in the week to May 10, the lowest given that January 2022. .> the overall rig count down 128, or. 18% below this time in 2015. Baker Hughes stated oil well fell 3 to 496 this week,. their most affordable because November, while gas rigs rose one to 103....

The U.S. on Friday extended a license permitting certain transactions with Venezuelan state oil business PDVSA so American energy service business can preserve assets after Washington last month reimposed broad sanctions on the OPEC member. The business, nevertheless, stay prohibited from drilling, lifting, processing, acquiring, transporting or shipping any Venezuela-origin oil The license is being extended through Nov. 15 and covers oil. services Halliburton, Schlumberger, Baker Hughes , and Weatherford International PLC, a notice on the U.S. Treasury Department's site showed. The Biden administration last month re-imposed sanctions on Venezuela's oil sector in response to President Nicolas Maduro's. failure to...

Canada's Pembina Pipeline Corp. is not investing much time considering financial investment in the. freshly broadened Trans Mountain oil pipeline (TMX) due to. unpredictability around shipping tolls, a company executive stated on. Friday. Calgary-based Pembina formed a collaboration with an. Native company, Western Native Pipeline Group, in. 2021 to pursue purchasing a stake in the Canadian government-owned. pipeline, however in recent months has soft-pedaled the concept of. buying the job. From our viewpoint, there still exists an incredible. amount of uncertainty around that property, Cameron Goldade,. Pembina's chief financial officer, stated on an incomes call. As a financial investment opportunity...

Asian area melted gas (LNG) prices increased this week to its greatest levels given that January, as heat throughout the region spurred more demand for the superchilled fuel, and as it tracked gains in European gas costs on the back of maintenance outages and lower wind output. The average LNG cost for July delivery into north-east Asia rose to $10.90 per million British thermal systems ( mmBtu), up from $10.50/ mmBtu in the previous week and its strongest levels considering that Jan. 5, market sources estimated. Asian provided rates have actually edged higher in the previous few days ... as...

Oil futures edged up on Monday after Saudi Arabia hiked June crude rates for many regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing worries the IsraelHamas dispute might still expand in the crucial oil producing region. Brent unrefined futures climbed up 28 cents, or 0.3%, to $ 83.24 a barrel at 0119 GMT, while U.S. West Texas Intermediate unrefined futures were at $78.40 a barrel, up 29 cents, or 0.4%. Saudi Arabia raised the official selling prices (OSPs) for its unrefined offered to Asia, Northwest Europe and the Mediterranean in June, signalling expectations of strong...

U.S. regulators offered the goahead on Thursday to Exxon Mobil's $60 billion purchase of Leader Natural Resources, but barred Pioneer's former CEO from Exxon's board on allegations he attempted to conspire with OPEC to raise oil rates. Former Pioneer CEO Scott Sheffield collaborated efforts with U.S. shale oil manufacturers to constrain their output and raise energy rates, the Federal Trade Commission said. Commonly thought about the dean of U.S. shale since of his long period and blunt talk about market output and spending, Sheffield used his influence to line up oil production across the Permian Basin in West Texas and...

Asian area melted natural gas (LNG) rates dropped a little for the first time in more than 2 months this week over expectations of weak demand, amid relieving issues around supply due to stress in the Middle East. The typical LNG cost for June shipment into north-east Asia rose to $10.20 per million British thermal units ( mmBtu), falling off the over three month-highs it struck last week, industry sources approximated. Asia LNG prices, which scaled a 15-week high this month, have either been mainly flat or increased week-over-week because March. The rally in LNG prices has curbed Asian buyers'...

Asian area liquefied natural gas (LNG) rates rose this week to a new threemonth high due to supply issues amid tensions in the Middle East and a drop in feedgas shipments to 2 LNG terminals in the United States. The typical LNG rate for June shipment into north-east Asia increased to $10.50 per million British thermal systems ( mmBtu), its highest since Jan. 12, industry sources estimated. Costs hit a 15-week high previously this week, a little going beyond $11.00/ mmBtu, tracking gains in European gas markets, but have actually softened ever since. Spot gas prices have been strong over...

The introduction of a possible bid for BP by the United Arab Emirates' stateowned oil group has thrown a spotlight on the vulnerability of the Britain's largest companies to takeover and the risk to London as an international capital markets center. New york city's larger financier base and much easier access to capital compared to London are shown in higher appraisals, which have actually motivated numerous UK-based companies to list there, consisting of chip maker Arm. London is a market for sale, Charles Hall, Head of Research at brokerage Peel Hunt informed . If you have lowly assessments it's absolutely...

The following are the top stories in the Financial Times. has actually not validated these stories and does not guarantee their precision. Headlines - Thames Water owners to begin urgent restructuring talks - UK prompted to release legal suggestions on Israel's conduct in Gaza - Alstom set to mothball Derby plant over HS2 order delays - Substantial AI funding causes buzz and 'grifting', warns DeepMind's Demis Hassabis Overview - Thames Water's owners will start immediate restructuring talks in the coming days as parent company Kemble risks going into insolvency within weeks unless loan providers accept a. debt-for-equity deal. - The...

Asian spot liquefied gas (LNG) was unchanged today, keeping at a sixweek high over $9 per million British thermal units (mmBtu) for a. third successive week, as demand from purchasers continued shoring. up costs. The typical LNG rate for May shipment into northeast Asia. << LNG-AS > held at $9.50/ mmBtu, the like the previous week,. which was its highest level because February 9, industry sources. approximated. Need was sustained due to colder-than-normal weather. driving some gas demand in northeast Asia, stated Ryhana Rasidi,. gas and LNG expert at information and analytics company Kpler. She added that Chinese players are...

International oil demand will not peak for a long time so policy makers require to make sure adequate investment in oil and gas to meet intake and desert the fantasy of phasing out fossil fuels, Saudi Aramco CEO Amin Nasser said on Monday. The head of the world's biggest energy business urged a. re-set of worldwide energy transition strategies in remarks to oil and. gas executives at the CERAWeek conference in Houston. Oil need will reach a brand-new record of 104 million. barrels per day (bpd) in 2024, Nasser stated. In spite of growing. investment, alternative energy has yet to...

With more ships heading around the Cape of Excellent Hope due to attacks in the Red Sea region and a shutdown in their main South African bunkering operations, Mercuria and Trafigura have started refuelling services in Mauritius, four sources stated. The two trading homes have opened operations in Port Louis to make up for the shutdown at South Africa's Algoa Bay which originates from a tax conflict with authorities, sources knowledgeable about the matter informed . Algoa Bay is South Africa's only offshore ship-to-ship bunkering zone where tankers service passing ships at anchorage. South African tax authorities (SARS) have detained...

Iran's weekend attack on Israel has increased geopolitical dangers in the oil market for the near term, prompting some banks to raise their price projections. Iran fired over 300 drones and rockets at Israel late on Saturday in retaliation for a believed Israeli attack on its consulate in Syria on April 1, a very first direct attack on Israeli territory that has stired fears of a broader Middle East war. Citi on Monday raised its short-term oil projections to $88. per barrel from $80 on higher threat premium. Citi said. it believes the present market is not currently pricing in...

Chinese companies won 4 quotes to check out Iraqi oil and gas fields, Iraq's oil minister said on Sunday as the Middle Eastern nation's hydrocarbon expedition licensing round continued into its 2nd day. The oil and gas licences for 29 projects are generally targeted at increase output for domestic usage, with more than 20 companies pre-qualifying, consisting of European, Chinese, Arab and Iraqi groups. Chinese business have been the only foreign players to win quotes, taking 9 oil and gas fields because Saturday, while Iraqi Kurdish business KAR Group took 2. There were notably no U.S. oil majors involved, even...