Crude oil futures prices gained modestly on New York and London markets Mar. 4 amid growing optimism that US-China trade talks are nearing an agreement on tariff disputes, which could ease tensions between the two nations. The trade talks have added uncertainty to commodity markets for months, raising concern about world economic growth and the […]

Ukraine has outlined a series of licensing rounds through online auctions and production-sharing agreement (PSA) tenders in ongoing efforts to reduce its dependence on natural gas imports. The 2019 licensing rounds offer 42 onshore blocks covering nearly 12,000 sq miles. Source: News

The Australia Pacific LNG (APLNG) combine has agreed to acquire the Ironbark coal seam gas (CSG) project from Origin Energy Ltd., Sydney, for $231 million (Aus.). Ironbark—not to be confused with the BP PLC-led group’s conventional gas prospect of the same name offshore Western Australia—lies near Tara in the Surat basin of southeast Queensland. Source: […]

IHS Markit expects global gross domestic product to remain resilient over the next few years, backed by low interest rates across regions and a relatively low inflation rate. Source: News

Upstream oil and gas capital expenditures in US this year will increase only 2%, following an 23% increase last year, as independent producers focus on capital discipline and cashflow neutrality. Source: News

Breakthrough came to more than a queue of LNG export projects when the US Federal Energy Regulatory Commission approved Venture Global LNG’s Calcasieu Pass venture on Feb. 21. Compromise enabling this welcome move shows hope for progress away from the all-or-nothing approach that frequently mires regulation addressing climate change. Source: News

Researchers said recent study results suggest the possibility of oil and natural gas discoveries in a 7,000-sq km area of the UK North Sea because of “phantom” volcanoes. Source: News

Equinor together with partners Petoro, ConocoPhillips, and Repsol will consider linking a recent oil discovery made with the Telesto exploration well in the Tampen area in the northern North Sea to existing infrastructure in Visund field. Resources are estimated at 12-28 million bbl of recoverable oil. Source: News

Pakistan Refinery is moving forward with its previously announced plan to upgrade and expand its 55,000-b/d hydroskimming refinery along the coastal belt of Karachi, Pakistan. The proposed $1-billion project aims to upgrade the site into a deep conversion refinery as a means of achieving compliance with the government of Pakistan’s requirement for products that meet […]

India’s government has approved the award of 23 contract areas to 14 companies in its second round of discovered small field bidding. The Directorate General of Hydrocarbons received 145 bids for 24 of 25 contract areas on offer from as many as 40 companies bidding alone or in groups. One area is under judicial review. […]