Daily Newsletter

05 December 2023

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Daily Newsletter

05 December 2023

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Spotlight

COP28 president: “no science” behind demands for fossil fuel phase-out

Al Jaber also claimed that that a complete phase-out of fossil fuels would not pave the way for sustainable development “unless you want to take the world back into the caves”.

Latest news

Shell, bp, Trinidad’s NGC set to sign Atlantic LNG restructuring deal

Shell will own a 45% stake in the Atlantic LNG facility while bp and NGC will own 45% and 10% stakes, respectively.

05 December 2023

Russian oil and gas producers see 41% drop in revenue

In the first nine months of 2023, revenues have been depleted in large part as a result of Western sanctions.

05 December 2023

MODEC selects Seatrium to build FPSO topside modules in Brazil

The FPSO Raia will have a processing capacity of 126,000 barrels of oil per day (bopd) and 16 million cubic metres of gas per day.

05 December 2023

Snam acquires FRSU I from BW LNG for $400m

The BW Singapore floating, storage and regasification unit (FSRU), which is owned by FSRU I, is capable of operating both as an liquefied natural gas (LNG) carrier and as an FSRU.

05 December 2023

Petrofac considers sale of non-core assets

The transaction is expected to improve the balance sheet of the company, which is facing reduced cash flow.

05 December 2023

Maha Energy to sell remaining stake in Omani Block 70

The deal will see Maha Energy exit the oil and gas block onshore Oman.

05 December 2023

Gail India files $1.82bn arbitration claim against former unit of Gazprom

The lawsuit for non-supply of liquid natural gas (LNG) cargoes has been filed in the London Court of International Arbitration.

05 December 2023

ESG 2.0 will be less forgiving of poor ESG performers

While ESG 1.0 was driven by voluntary corporate action, ESG 2.0 is being driven by a new wave of government policies. A host of new environmental laws are in the pipeline, relating to mandatory reporting, carbon pricing, and carbon import tariffs, as well as more state support and investment in clean energy technologies. Companies unprepared for ESG 2.0 face higher costs and lost sales.

Ammonia and Methanol in Energy Transition

Ammonia and methanol are key industrial chemicals with strong demand in the agriculture, manufacturing, and construction sectors. The demand for these chemicals is expected to rise in the coming years due to their potential applications in energy transition. Low-carbon ammonia is garnering the most attention from oil and gas industry players with nearly 300 plants in development globally.