Rigzone Industry News

Russia's biggest liquefied natural gas producer began production at its Arctic LNG 2 project despite U.S. sanctions.

Akrake Petroleum SA has signed a production sharing contract for operatorship and a 76 percent working interest in Block 1, Sèmè Field in Benin, West Africa.

A steep decline in the number of tankers suggests that attacks on ships in the area are further disrupting a key artery of global trade.

Gazprom and CNPC agreed to increase the volume of Russian gas export to China through the Power of Siberia pipeline next year.

The European Commission has cleared Germany's financial support for RWE Power AG's plans to phase out its lignite-fired power plants.

'For the next several years, at least, continually unified, vigilant, and effective OPEC+ supply management will be required to prevent a collapse in oil prices'.

'The record high gas storage of around 97.5 percent as of end November positions the EU well to meet this winter season with very limited risks of energy shortages under our baseline and downside scenarios'.

Russia completed the second reactor and ship for nuclear-powered transport via the Arctic route.

'In case the current actions are not enough, OPEC + countries will take additional steps to avoid speculations and volatility'.

'These attacks, carried out with advanced weaponry like ballistic missiles and UAVs, signify a strategic shift from random piracy to politically motivated aggression'.