Petroleum News

01/06/2026

Two legislative committees begin special session work on LNG tax

Before the 34th Alaska Legislature gaveled out on May 20, Gov. Mike Dunleavey had called them back into a special session beginning May 21 to address a property tax reduction for the Alaska LNG Project. The governor introduced bills March 20 to replace property tax for the project with an alternativ...

01/06/2026

Closing in on 1 billion barrels: 88E's S Prudhoe resource upgrade

On May 20, 88 Energy Limited (ASX: 88E, AIM: 88E, OTC: EEENF) reported a material update to the prospective resource estimate for its South Prudhoe Project on Alaska's North Slope immediately south of the Prudhoe Bay and Kuparuk River units. The South Prudhoe Project's estimated total gross unrisked...

29/05/2026

Australia-based Santos plans to focus growth on the production of crude oil and LNG, the company's Managing Director and Chief Executive Of-ficer Kevin Gallagher said at its May 26 investor briefing day. "Going forward, Santos will be laser focused on investment in major oil and LNG production acros...

29/05/2026

Haley Paine, director of the Alaska Division of Oil and Gas, has approved the 2026 plan of development for Hilcorp Alaska's North Cook Inlet unit, a major Southcentral gas producer. In April, the most recent month for which Alaska Oil and Gas Conservation Commission production data are available, No...

22/05/2026

LNG tax bill fails to pass House; Dunleavy calls a special session

The Alaska Legislature tried to reach agreement on property tax relief for the Alaska LNG Project in the final days of the session with an amendment on the House floor, but members voted enough changes that it wouldn't have been acceptable to Gov. Mike Dunleavy - and that before the proposal faced t...

22/05/2026

Glenfarne has precedent agreement with ConocoPhillips for gas sales

Glenfarne Alaska said May 18 that it has signed a gas sales precedent agreement with ConocoPhillips Alaska to supply North Slope natural gas for Phase One of the Alaska LNG Project. Glenfarne said with this 30-year agreement, Alaska LNG now has precedent agreements for volumes to support a Phase One...

22/05/2026

State, POSCO sign MOU for six projects

On May 18, the state of Alaska entered into a memorandum of understanding with POSCO International Corp., a leading South Korean energy, mobility and sustainable infrastructure company, to advance six transformation projects across Alaska. The agreement, signed by Gov. Mike Dunleavy and POSCO Intern...

19/05/2026

In recent years there has been an upsurge in interest in the potential to obtain naturally occurring hydrogen from the Earth's subsurface, rather than produce hydrogen synthetically from methane or from the electrolysis of water. During an April 28 meeting of the Alaska House Energy Committee Mark M...

15/05/2026

DGGS conducting research into the potential for using this form of energy

Alaska's geology has proven particularly effective for the production of oil and gas, as is demonstrated by oil fields on the North Slope and the oil and gas fields of the Cook Inlet region. But the state's geology has the potential to support other energy sources. On April 28 experts from Alaska's....