oil-and-gas
Top StoriesOil Falls More Than 2% on Recession and China Covid Fears
Top StoriesOmv: Q3 Retail and Commercial Margins Increased Q/q
Top StoriesBp Looks to North Sea, U.S. Shale for Near-Term Oil and Gas Boost
Top StoriesUK Will Not Urge Public to Cut Energy Use, Minister Says
EU Sees More Work Ahead to Implement Russian Oil Price Cap
Date: October 7, 2022
By Gabriela Baczynska BRUSSELS (Reuters) -The European Union on Thursday gave a final approval to its eighth batch of sanctions against Russia for its invasion of Ukraine, but said implementing a price cap on Russian seaborne oil included in the package required more work. The sanctions will block 7 billion euros ($6.9 billion) worth of...
Algeria and Spain Agree Revised 2022 Gas Prices
Date: October 6, 2022
ALGIERS (Reuters) – Algeria’s Sonatrach and Spanish power group Naturgy have revised gas prices for 2022 but delayed price talks for next year and beyond amid surging demand and after a diplomatic spat between the countries. Sonatrach supplies around 5 billion cubic meters of gas a year to Spain through contracts signed more than two...
Norway Expects to Earn Record $131 Billion From Oil and Gas in 2023
Date: October 6, 2022
By Terje Solsvik and Nerijus Adomaitis OSLO (Reuters) – The Norwegian government expects record income next year from its oil and gas industry, it said on Thursday, predicting a rise of 18% from this year’s level and a fivefold increase over 2021 as production rises and prices soar. European gas prices have roughly tripled in...
Norway’s Oil Production Seen Rising by 15% in 2023
Date: October 6, 2022
OSLO (Reuters) -Norway’s production of oil liquids is expected to rise by 15% in 2023 as the Johan Sverdrup field is set to ramp-up output by the end of this year, the government’s draft budget showed on Thursday. “The Norwegian continental shelf must continue to be a stable and long-term supplier of oil and gas...
Weaker Refining, Gas Trading to Hit Shell’s Q3 Results
Date: October 6, 2022
By Ron Bousso LONDON (Reuters) – Shell said on Thursday its third-quarter profit would be pressured by a near halving of oil refining margins, crumbling chemical margins and weaker natural gas trading. The British energy giant reported two consecutive quarters of record profit in the first half of the year amid soaring oil and gas...
Morgan Stanley Sees Tighter Oil Market Ahead, Ups Q1 Forecasts
Date: October 6, 2022
(Reuters) – Morgan Stanley raised its oil price forecast for the first quarter of 2023, and predicted tight supply going forward due to a steep output cut agreed by OPEC+ producers coupled with an EU embargo on Russian production. OPEC+, which groups members of the Organization of Petroleum Exporting Countries and allies including Russia, agreed...