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ADNOC and Taqa, respectively the national oil and energy companies of Abu Dhabi, have announced financial close on a $3.8bn project for electrification of offshore oil and gas assets in the UAE.

Energy Voice

ADNOC and Taqa close $3.8bn project for oil and gas electrification

Natural gas production is soaring, but that's not going to lower your heating bills this winter.

Forbes

U.S. Natural Gas Production Sets A New Record, But Don’t Expect Relief On Your Heating Bills

The Ugandan government has taken the fight about the construction of the East African Crude Oil Pipeline-EACOP to the United Nations following last week’s resolution by the European Union-EU parliament.

The Independent

Uganda takes EACOP oil and gas fight to UN Assembly

Data, Machine Learning, and Artificial Intelligence. Three often talked about trends that have catapulted businesses to the top of the market chain. How will these technologies help optimize oil and gas processes?

Midlander: Data platforms can optimize upstream efficiency

Jacob Rees-Mogg has told staff Britain “must get every cubic inch of gas out of the North Sea”, a leaked video shows. Critics have accused the business secretary of “putting his ideology before the climate” and “greenwashing fossil fuels” by prioritising gas over renewables.

The Guardian

 Rees-Mogg: ‘Britain must get every cubic inch of gas out of North Sea’

The government has confirmed it is ending the ban in the UK on fracking, a controversial technique that involves drilling and using liquids at high pressure to release shale gas.

Would more UK gas actually bring down prices?

An internal analysis performed by Exxon in 2020 suggested mismanagement by operators and poor planning were behind cost overruns

Bloomberg

Leaked Study Shows Exxon, Partners Overspent by $138 Billion

Unlike most governments in the economically developed Western world, Indonesia's leaders are crying out for more upstream oil and gas investment. However, even as demand is projected to rise up to four times by 2050, Southeast Asia's biggest economy is struggling to convince energy investors to come.

As demand surges Indonesia needs radical action and $200bn investment to revive upstream oil and gas

Licences for fracking encroach on some of the most environmentally protected areas in England including national parks and areas of outstanding natural beauty.
As the government lifted the ban on drilling for shale gas, the Guardian analysed where drilling might take place in months and years to come.

Fracking could impact many protected areas across England as ban is lifted

Practical snippets from the lives of giants who have worked in fracking – not for years but for decades.

How Fracking Creates Value: Three Insights From Three Frac Legends – Daneshy, Montgomery, And Smith.

A case study, conducted by Ocean Harvesting Technologies and Lundin Energy Norway, has shown that wave power could provide significantly more stable power production than offshore wind for the electrification of oil and gas platforms.

Offshore Energy

Oil and gas platform electrification with wave energy delivers ‘promising results’

The energy sector has enjoyed bumper profits in the current year, with Big Oil companies setting records right, left and center. 

Oil Price

Energy Earnings Set To Ease, But Oilfield Services Remain Strong

Greenpeace, Uplift and Friends of the Earth Scotland have all condemned the UK Government after plans to issue new offshore licences were set in stone. And the former is now considering measures to try to prevent it from happening, including taking legal action.

Greenpeace readying lawyers to oppose new North Sea licences

The bill drew criticism from both sides of the aisle, but it's unclear how it would affect U.S. emissions.

Grist

Is Manchin's permitting bill overdue reform or an underhanded deal?

Significantly expanding natural gas production is key to reducing Argentina's energy deficit and, thus, economic future.

Can Argentina's Dead Cow Shale Patch Save Its Economy?

As Russian output flows to the east, the Gulf stands to become a bigger supplier to the West.

The Economist

An energy crisis and geopolitics are creating a new-look Gulf

Recession fears and a stronger U.S. Dollar both continued to weigh on energy prices.

Oil Plunges To Lowest Level Since January—Here’s Why Experts Say Low Prices Won’t Last

The US senator Joe Manchin released an energy permitting bill on Wednesday to speed fossil fuel projects and power transmission for renewable energy.

Senator Joe Manchin unveils bill that would speed fossil fuel projects

Energy Secretary Michael Matheson said that “by and large” there are no mechanisms by which the Scottish Government could “frustrate” the fossil fuel ambitions of Westminster.

The National

Liz Truss oil and gas drilling plans can't be halted without independence

The Chief Executive of Saudi Aramco was clear in his recent speech when he outlined the main reasons for the current energy crisis. He pointed to underinvestment in oil and gas, a dearth of alternative energy sources, and a complete lack of any Plan B. Looking forward, it seems unlikely that those problems will be solved anytime soon.

Why The World Needs To Invest In Fossil Fuels

Liz Truss stressed the energy crisis is the "number one issue we face" as she defended potentially breaching a Tory manifesto pledge to lift the fracking ban.

Truss defends possible Tory manifesto breach over fracking ban

Energy services giant Schlumberger is to collaborate with Saudi Arabia's Aramco to help hard-to-abate sectors reduce their emissions.


Schlumberger and Aramco team up to help hard-to-abate industries

The United Arab Emirates is accelerating a plan to raise its oil production capacity, according to people familiar with the matter, as it tries to cash in on its crude reserves before the world transitions to cleaner energy.

World Oil

UAE accelerates plan to increase its oil production capacity

A pair of leading European offshore wind developers have unveiled plans to support North Sea oil and gas decarbonisation.


Norwegian-Scottish offshore wind partnership to support North Sea oil and gas decarbonisation

Last week, the media rushed to report that natural gas prices in the United States had fallen sharply after trade unions and railway companies reached a tentative deal that averted a potentially devastating strike.

A Natural Gas Shortage Is Looming For The U.S.

A US House investigation shows how major fossil fuel companies contradict their public messages in favour of climate action while seeking to undermine or sabotage climate measures to protect their profits.

Euractiv

US revelations on Big Oil lies highlight need to end fossil fuel influence now

Human resources solutions provider LiveHire has secured a deal with US-based workforce management company Hiregenics to provide its direct sourcing recruitment platform to one of Hiregenics clients, which is of the world’s largest oil and gas companies.

Small Caps

LiveHire to provide recruitment platform to Fortune 500 oil and gas company

Energy production is big business in New Mexico, as Greg Bloom, assistant commissioner for mineral resources in the New Mexico State Land Office affirms. And why won't he, when over $2 billion in oil and gas royalties alone has trickled in?


News-Sun

Oil brings in more than $2 billion in royalties to State Land Office in Mexico

Exxon Mobil is uncertain whether it will bid for new offshore areas Guyana wants to explore as the oil major ramps up production faster than expected and the South American country wrestles with fixing terms of new oil leases.

Reuters

Exxon boosts Guyana oil output, undecided on future auction bid

The United Arab Emirates (UAE), one of OPEC's key members, is accelerating plans to raise its oil production capacity to 5 million barrels per day (bpd) five years earlier than planned, Bloomberg reported on Monday, quoting sources with knowledge of the new plans.


The UAE Plans To Ramp Up Its Oil Production Capacity

Earlier this year there were high hopes around the U.S. lifting its sanctions on Venezuela in the face of oil shortages and rising prices, due to the Russian invasion of Ukraine, allowing black gold to once again flow out of the South American oil giant. But this has not yet come to fruition. 

Venezuela Is Ready To Send Its Oil To The World

Chevron Corp is marketing its interest in more than 2,000 oil and gas wells in Alaska, the company told Reuters on Monday, in a move that could mark the oil major’s second exit from oil production in the state in three decades.

Financial Post

Chevron offering minority stakes in three Alaskan oilfields

Oil prices edged slightly higher in volatile trading on Monday, as worries of tight supplies outweighed fears that global demand could slow due to a strong U.S. dollar and possible large increases to interest rates.

CNBC

Oil edges up as supply woes outweigh demand and rate hike worries

Since late 2021, the difference has been widening between the natural gas price at the Waha Hub in West Texas and the U.S. benchmark Henry Hub in Louisiana. The price of natural gas traded at the Waha Hub, which is near production from the Permian Basin, averaged $1.43 per million British thermal units (MMBtu) less than the Henry Hub price during the first half of September. In comparison, in the first half of September 2021, natural gas at the Waha Hub traded at an average of 24 cents/MMBtu less than the Henry Hub price.

The Waha Hub natural gas price continues to fall below the Henry Hub price

Oil and gas opportunities in Ghana will be promoted by the country’s energy minister, officials and industry chiefs during a visit to Aberdeen next week.

The Press & Journal

Ghana’s energy minister to promote oil and gas opportunities for north-east firms

High energy prices have boosted UK small cap fossil fuel companies, lifting their share prices and allowing some to register rare profits. Seven of the 10 best performing stocks on London’s junior Aim market are fossil fuel companies, with four focusing on UK oil and gas production, as the market rides the surge in prices since Russia invaded Ukraine.


Financial Times

High energy prices attract investors back to UK fossil fuel small caps

Oil advanced at the start of the week as the Chinese city of Chengdu ended a two-week lockdown, boosting the outlook for demand.

Oil rises as reopening of Chinese city offsets slowdown concerns

The state-owned Kuwait oil company aims to increase natural gas production to meet local demand, the company's acting chief executive officer Khaled Nayef Al Otaibi said on Sunday.

Kuwait Oil Company aims to increase natural gas production to meet local demand

300-500% returns over the last 3 years are no exception in the Canadian oil patch.

Oil And Gas Rules The Toronto Stock Exchange

Saudi Arabia's Arabian Drilling Co. is looking for growth in the kingdom's crude oil and natural gas production as the country will be "critical" to meet demand for hydrocarbons that it sees from the Middle East and globally, according to a Sept. 18 statement about plans to sell shares.

S&P Global

Saudi drilling company eyes fast growth in oil, gas production

Today's average price of gas in the U.S. is $3.68 per gallon, unchanged from yesterday, down $0.04 from last week and down $0.24 from last month.

Today's Highest Gas Prices By State: Gas Prices Slide Lower

Despite an increasingly tight oil market, the great U.S. shale machine has hit a wall. Drilling and fracking activity has flatlined, and some shale executives warn that production growth may come in below expectations – perhaps by a lot. That's bad news for consumers who can't escape gas prices.

Why U.S. Shale Producers Aren’t Riding To The Rescue Despite Tight Oil Supplies

The oil and gas industries can be broken down into three segments: upstream, midstream, and downstream. Companies that are involved in upstream, midstream, and downstream oil operations are known as integrated companies.

The street

Upstream vs. Downstream in Oil & Gas: Definitions, Differences, & Examples

Arabian Drilling Co., a Saudi oilfield-services firm partly held by Schlumberger NV, hired Goldman Sachs, HSBC Holdings Plc and SNB Capital to manage its initial public offering in Riyadh.

Arabian Business

Saudi Arabia’s Arabian Drilling hires Goldman, HSBC, and SNB Capital for IPO

Officials from the Group of 7 are striving to strike a delicate balance that encourages Russia to keep pumping oil but to sell it at a discount.

The New York Times

What Price Is Right? Why Capping Russian Oil Is Complicated.

Activist groups are calling on Shell's incoming chief executive to make "bold decisions" in order to revolutionise the supermajor.

Incoming Shell CEO has 'most challenging job in history' of oil giant

TotalEnergies has closed the sale of its 18% non-operated interest in Iraq’s Sarsang oil field to ShaMaran Petroleum for a firm consideration of $155m.

Offshore Technology

TotalEnergies closes divestment of 18% interest in Iraq’s Sarsang oil field

In our September 2022 Short-Term Energy Outlook, we forecast that monthly East Coast gasoline inventories will generally increase from July's multiyear lows. We forecast gasoline inventories will build by the end of 2022 and remain higher than July's low throughout 2023.

EIA forecasts East Coast gasoline inventories will build by the end of 2022

An environmental lawyer told a Louisiana congressman to "think about repenting" during a Congressional hearing on Thursday.

Expert demolishes GOP lawmaker for backing oil industry in testy House clash

Lebanese-Canadian inherits company making record profits but facing challenging decisions on its future 

Wael Sawan, Shell lifer taking helm to steer through energy transition

Oil & Gas | Upstream

The impact of the ongoing war is hitting the EU and the US hard. How are they responding?

The Hill

What divergent crude oil and natural gas prices portend for the EU and US

Analysis shows government could use profits from public energy firm to cut bills and insulate homes


Nationalised energy could save UK households up to £4,400, TUC says

Norway's Equinor said on Friday it had entered into a 10-year agreement to sell natural gas to Poland's PGNiG as the central European nation scrambles to replace flows from Russia before the winter heating season kicks in.

Equinor in 10-year deal to sell gas to Poland's PGNiG

How is the Russian-Ukraine feud upsetting the world's fuel markets? and how is a major player in the Middle East profiting?

The war in Ukraine has reshaped the world’s fuel markets

Amid the glamour of this week's UN General Assembly in New York, it's important to keep in mind one of the main missions of this global organisation: to rally and co-ordinate effective support for the world's most vulnerable.

Is it time for worldwide legal restrictions on fossil fuels?

Conservative MPs warned of a public backlash on Thursday after the UK government lifted a moratorium on fracking for natural gas in England that has been in place for three years.

End to UK fracking ban triggers backlash

The government is being urged to ramp up efforts to end the UK's dependence on gas shipments following a new analysis which details how Liquified Natural Gas (LNG) imports would need to rise by more than 150 per cent at a cost of £30bn to billpayers if the UK was not generating electricity from renewable sources.

Business Green

Without UK renewables LNG imports would cost £30bn more

Ministers face a furious backlash from Conservative MPs after overturning a manifesto pledge to pause fracking until it is proved safe, and then indicating drilling could be imposed without local support. Outlining a return to shale gas extraction in England after three years, Jacob Rees-Mogg dismissed worries about earthquakes caused by the practice as “hysteria”, claiming this was often down to a lack of scientific understanding.

Tory MPs angrily challenge Rees-Mogg’s fracking revival plan

Making a single 2-metre-wide “mother roll” of toilet paper at Germany’s Essity plant in Mainz-Kostheim, where the Main river meets the Rhine, uses 700 kilowatt-hours of natural gas — enough to heat a family home for several weeks during the winter.
With energy costs surging and fears of power shortages mounting, Essity has had to raise prices and switch to other sources of fuel.

Energy crisis leaves Germany’s toilet paper makers struggling to clean up 

Germany's Volkswagen AG warned on Thursday that global auto production will be at risk in 2023 if Russia fails to resume deliveries of natural gas through Nord Stream 1. 

Volkswagen Warns: High Gas Prices Could Impact Car Production

Soaring energy costs in Europe are shutting down businesses and threatening a bloc-wide recession. Yet not everyone accepts this fate. Some companies are moving to cheaper locations: the U.S.

High Energy Prices Could Cause Manufacturers To Flee Europe

JPMorgan Chase CEO Jamie Dimon said slamming the brakes on new oil and gas production “would be the road to hell for America” after Rep. Rashida Tlaib asked him to divest in oil.

New York Post

Jamie Dimon says stopping oil and gas production would be ‘road to hell’ for US

The U.K. government lifted its ban on fracking Thursday, citing the need to increase domestic energy supply following the Russian invasion of Ukraine.

Energy crisis spurs Britain to end its fracking ban, digging up a long-running debate

Biden promised to tackle climate crisis but administration’s rhetoric ‘changed substantially’ after the onset of the Ukraine war and it adopted the industry’s major demands. 

How the gas industry capitalized on the Ukraine war to change Biden policy

Eni UK, part of Italian utility Eni, said it has submitted an application for a carbon storage licence for a depleted gas field in Britain’s North Sea to capture and store carbon dioxide emissions from industry.

Euronews

Eni seeks licence for carbon storage in British depleted gas field

Lawsuits aimed at green-house gas emissions are a growing trend, and better science is making them more precise. As ESG comes under attack, could these suits represent a different front in pressuring companies to act on climate change?

Who should pay for the costs of a warming planet?

The US Senate voted on Wednesday to approve an international climate treaty that would phase out the use of potent greenhouse gases used in refrigerators and air conditioners.

US ratifies global pact to phase out potent polluting gases

Chris Cornelius says geology is too challenging and government’s support is merely ‘soundbites’

Fracking won’t work in UK says founder of fracking company Cuadrilla

The British government announced details of a plan on Wednesday to cut energy costs for companies over the winter, after industry groups warned that soaring bills were threatening the survival of countless businesses.

U.K. Cuts Energy Bills for Companies Through Winter

WASHINGTON -- When Senator Joe Manchin III of West Virginia agreed in late July to supply his crucial vote allowing Democrats to pass their landmark climate change, health and tax legislation, he extracted a promise in return: Congress would pass a separate bill by the end of September making it easier to build a natural gas pipeline in his state.

Manchin's Gas Pipeline Deal Irks Both Parties, Snarling Spending Bill

Policymakers must ensure the supply of conventional energy sources alongside lower carbon ones as the energy transition marches on, according to Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser.

Natural Gas Intelligence

‘Too Little, Too Late,’ Says Aramco CEO of Global Oil, Natural Gas Investment

Amid a severe supply crunch as a result of the ongoing war in Ukraine, Western European nations have been left desperately scrambling to find new sources of energy to keep the lights on.

AMAC

Europe Begs for African Oil and Gas After Decades of Fighting Development

The Net Zero Technology Centre (NZTC) has highlighted the need to back the creation of demonstration centres around the UK to drastically reduce the costs associated with low-carbon technologies.

Current±

Demonstration centres could drastically reduce low-carbon technology costs, says the NZTC

The UK government has set out plans to cover half the expected rise in wholesale energy prices in a bid to soften the impact on businesses and non-domestic energy users.


UK Government steps in to discount energy prices for businesses

People across Europe have been facing soaring bills this year, as the war in Ukraine fuels an energy crisis. Spiralling inflation has sparked a cost-of-living crisis across Europe, and governments are stepping in to try to shield households and businesses from the seemingly never-ending surge in energy prices.

Which countries in Europe are helping people pay their energy bills?

Opposition MPs say package should target businesses most in need and prioritise energy efficiency
MPs have raised concerns that the government's energy bailout for businesses will see corporate giants handed huge discounts they do not need.

Energy bailout will benefit corporate giants who don't need it, MPs warn

Representatives of the tiny Indian Ocean nation of Timor-Leste were in the U.S. this week, seeking to secure American strategic and financial support of the development of a major offshore reservoir of natural gas, which has the potential to provide major environmental benefits to the region.

Timor-Leste Seeks U.S. Strategic Support In Natural Gas Development

Continued high gas prices in Europe in the aftermath of Russia’s invasion of Ukraine in February have prompted several major European oil and gas companies to expedite the development of gas projects in the Middle East, with Italian major Eni’s latest announcement regarding the UAE being the latest example. 

UAE Accelerates Development Of Huge Gas Field As High Prices Persist

From cutting down on shower time, driving slower and fining shopkeepers for not closing their doors, Europeans are embarking on a target of reducing energy usage in time for winter, and some citizens have taken to social media to share their experiences.

Shorter showers, slower drives and an Eiffel Tower blackout: Europe's incoming drought

As Europe looks for oil, gas, and fuels from anywhere but Russia, a shortage is developing on the tanker market, Bloomberg has reported, as vessels carrying fossil fuels for Europe have to travel longer distances and fewer voyages.

Europe’s Scramble For Oil And Gas Is Causing A Tanker Shortage

Russia is considering raising taxes on the oil and gas sector to the tune of 3 trillion roubles ($50 billion) in 2023-2025 in order to plug the budget gap, the Kommersant daily said on Tuesday, citing sources familiar with the discussions.

Russia is considering $50 billion hike in taxes on oil, gas in 2023-2025

Record-breaking commodity prices resulting in sky-high gas and electricity prices have prompted calls for fundamental market reform. The European Union (EU) announced in September 2022 that it is looking to impose historic interventions in the energy market to rein in soaring commodity prices, including considering a levy on excess profits and potential gas price caps.

Mind the cap

Oil and gas major Shell has restarted production at its Prelude floating liquefied natural gas (FLNG) facility offshore Western Australia after reaching an agreement with the Australian Workers’ Union and Electrical Trades Union.

Shell reaches agreement with workers’ union, restarts Prelude FLNG production

Costs for shipping energy are surging as Europe’s scramble for supplies creates a shortage of vessels to carry essential fuels this winter.

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