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Venture Global said it will launch “commercial operations” for the Calcasieu Pass liquefied natural gas (LNG) export project in Louisiana in April. The facility in Cameron Parish already began production January 2022, according to Venture Global. However, Calcasieu Pass LNG has not supplied offtakers, prompting BP PLC to complain to the Federal Energy Regulatory Commission...

Egypt and Cyprus on Monday signed deals for the reexport and commercialization of Cypriot gas, agreements that are key for Cairo in its push to become a regional energy exporter as its own output suffered declines in the past couple of years. Under the deals, production from the Cronos gas field, off Cyprus’s southwest coast,...

In its February short term energy outlook (STEO), which was released on Tuesday, the U.S. Energy Information Administration (EIA) revealed its latest Brent spot price forecasts for 2025 and 2026. According to the STEO, the EIA sees the Brent spot price averaging $74.50 per barrel this year and $66.46 per barrel next year. In its...

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 8.7 million barrels from the week ending January 24 to the week ending January 31, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. The report, which was released on February 5 and included data...

Colombian President Gustavo Petro called on state oil producer Ecopetrol SA to sell its operations in the US, citing his government’s position against fracking, which he says is destructive to nature and humanity. Majority state-owned Ecopetrol announced this week it was extending a joint venture with Occidental Petroleum Corp. in the Permian Basin in the...

OPEC producer Kuwait will soon launch plans to merge some of its state oil companies as part of a restructuring programme intended to boost performance and cut costs. The Kuwait Petroleum Corporation (KPC), which manages the Gulf country’s hydrocarbon sector, will oversee the restructuring plan, which has been approved by the cabinet and the Supreme...

The United States Federal Energy Regulatory Commission (FERC) has redeclared its decision to grant authorization for an Atlantic pipeline expansion project by Transcontinental Gas Pipe Line Co. LLC (Transco). The Court of Appeals for the District of Columbia Circuit had issued voidance and remanded to FERC a case challenging the Commission’s Certificate and Abandonment Authorization...

In a special U.S. policy oil and gas market update sent to Rigzone by the Rystad Energy team late Wednesday, Matthew Bernstein, a vice president of upstream research at Rystad, stated that, “despite President Trump’s intentions, a significant uptick in U.S. oil production is highly unlikely”. “The ‘drill, baby, drill’ mantra overestimates the industry’s willingness...

The US intervention in the oil dispute between Baghdad and Kurdistan has been met with resistance from Baghdad, who views it as meddling in internal affairs.The Federal Government of Iraq aims to unify the country under its control by ending Kurdistan’s independence and controlling all oil and gas production and revenue.The ongoing oil embargo and...