This year, Europe is expected to be the fastest-growing market for liquefied natural gas (LNG) and will absorb the fuel despite supplied by Russia’s record-high volumes by pipelines. Royal Dutch Shell Plc said on Monday that it expects to get an extra 20 million to 30 million tons of LNG this year, double the increase in Asia. According to Shell who controlled about 22% of global LNG in 2018, there is...Continue Reading

With crude rebounding, oil optimists look like they’re finally ready to take the driver’s seat. For the first time this year, a jump in bets that Brent crude prices will rise far surpassed the move by short-sellers, helping set the tone for money managers’ positioning on the global benchmark. The Sentiment is now the most bullish since late October. Bullish bets rose up by 10% by the end of 12th...Continue Reading

An oil and gas reservoir has been discovered by Aker BP while the company was drilling near the Alvheim field in the North Sea as confirmed by the Norwegian firm last Monday. Known as Froskelaar (Frog’s Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents and may straddle Norway’s maritime border with Britain. The location of the reservoir straddles between Norway’s...Continue Reading

Total and its partners which include China’s CNOOC has discovered a new gas source off the coast of Britain at the North Sea Glengorm prospect. It had recoverable resources which are estimated at 250 million barrels of oil equivalent (boe). According to Total, with further drilling and testing to be carried out, this could assess the resources and productivity of the reservoir. “Glengorm is another great success for Total in...Continue Reading

Faroe Petroleum, an oil and gas explorer and producer which focuses on Norway and the UK has entered into a partnership with subsidiaries of Royal Dutch Shell and Spirit Energy on exploring the Edinburgh area while it is being developed. Faroe would hand over the operation to Shell once the drilling decision is taken. All the license partners have agreed to be given equal equity in the two UK maritime...Continue Reading