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OPEC
OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period
Oil Price
21-03-2022
Diesel Price for Bulk Esers Hiked Rs 25/litre; Private Retailers Stare at Closure
Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers.
Oil Exploration
21-03-2022
Proceeds of Oil and Petroleum Exploration to be Equally Divided Between States in DAB
Chief Minister of Assam has positively indicated for equally dividing the proceeds of Petroleum and Oil exploration and extraction between the two states in sectors A, B & C in the Disputed Area Belt (DAB) area
Joe Biden
21-03-2022
EU to Mull Russian Oil Embargo with Biden Set to Join Talks
EU governments will consider whether to impose an oil embargo on Russia over its invasion of Ukraine as they gather this week with Joe Biden for a series of summits designed to harden the West’s response to Moscow.
Oil Price
21-03-2022
Oil Climbs on Pressure From Ukraine Conflict, Tight Market
Oil prices jumped $2 on Monday as Ukrainian forces dug in against heavy Russian attacks, while major oil producers reported they are struggling to produce their allotted quotas under a supply agreement.
Natural Gas
21-03-2022
Shell Cleared to Restart Prelude FLNG
Shell has been given the green light to resume operations at its Prelude floating liquefied natural gas (FLNG) facility offshore Western Australia after an incident in December last year.
LNG
21-03-2022
Germany in Talks with Qatar on Long-Term Gas Supplies to Reduce Russian Dependence
Germany and Qatar are negotiating a long-term energy partnership, government officials from both sides said Sunday, as Europe's biggest economy seeks to become less dependent on Russian energy sources.
Oil & Gas Supply
19-03-2022
Europe Can Survive Throughout Summer Without Russian Gas
If Russian flows continue, the European Union (EU) and the UK will end this winter’s heating season with 27 billion cubic meters (bcm) of gas in storage.
Crude Oil
18-03-2022
National Daily Oil Output Totals 684,100 Barrels
Azerbaijan's daily oil production, including condensate, amounted to 684,100 barrels in February 2022, the Energy Ministry has reported.
Crude Oil
18-03-2022
Japan and Saudi Arabia to Work Toward Stabilizing Crude Oil Markets
Prime Minister Fumio Kishida and Saudi Arabia’s Crown Prince Mohammed bin Salman agreed Thursday to bolster cooperation on stabilizing global crude oil markets after Russia’s invasion of Ukraine sent prices surging.
Crude Oil
18-03-2022
Indian Purchase of Russian Oil not Violation of Sanctions: US
The White House has said that India would not be violating sanctions if it purchased discounted oil from Russia but doing so would put New Delhi on the wrong side of history.
LNG
18-03-2022
Bangladesh to Get more LNG Supply in Summer
The world's leading LNG (liquefied natural gas) producer Qatargas has agreed to re-schedule its LNG cargo-delivery plan for Bangladesh to boost the fuel supplies during summer by slashing winter deliveries.
Crude Oil
18-03-2022
India Buys Russian Oil Despite Pressure for Sanctions
The state-run Indian Oil Corp. bought 3 million barrels of crude oil from Russia earlier this week to secure its energy needs, resisting Western pressure to avoid such purchases, an Indian government official said Friday.
Oil Price
18-03-2022
Oil Jumps as Russia-Ukraine Talks Stall
Oil prices extended their rally on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the spectre of tighter sanctions and a prolonged disruption to oil supply.
Crude Oil
18-03-2022
Oil Futures: Price Rebound Continues on Prolonged War Fears, Brent up 2%
Crude oil futures in Asian trading hours Friday continued the upwards trend amid growing concerns over a prolonged war in Ukraine and renewed fears over the threat to Russia's oil supplies.
Crude Oil
18-03-2022
PSU Refiners Stock up on Cheap Russian Crude
India's state-run refiners are buying several million barrels of the Russian crude that's selling at a deep discount due to Western sanctions.
LNG
18-03-2022
Soaring LNG Demand Creates Traffic Jam at Gulf of Mexico Ports
Gulf Coast liquefaction facilities are operating near capacity thanks to strong demand.
Crude Oil
18-03-2022
The World Could See a Record-Breaking Oil Supply Shock
IEA: market could lose around 3 million bpd of supply from Russia starting in April.
Natural Gas
17-03-2022
Average San Diego County Gas Price Rises for 22nd Consecutive Day
The average price of a gallon of self-serve regular gasoline in San Diego County rose Wednesday for the 22nd consecutive day, increasing 3.3 cents to a record $5.805.
Crude Oil
17-03-2022
Russia Could Lose 30% of its Oil Output Within Weeks, IEA Warns
Russia could soon be forced to curtail crude oil production by 30%, subjecting the global economy to the biggest supply crisis in decades — that is, unless Saudi Arabia and other major energy exporters start pumping more.
Oil & Gas Supply
17-03-2022
US Shale Oil Production Growth Revised Downward, Natural Gas Outlook Rises: EIA
The US shale oil production forecast was revised downward in March by 116,000 b/d, although it is now expected to hit the previous March projection in April, the US Energy Information Administration said.
Natural Gas
17-03-2022
Exxon, BHP to Invest $291 Million to Expand Gas Output off Australia
Exxon Mobil Corp and BHP Group said on Thursday they will go ahead with a project to boost gas output from their Gippsland Basin Kipper field off southeast Australia, which would help fill a looming gas shortage in the local market.
Natural Gas
17-03-2022
IOG Starts Gas Production from Another Saturn Banks Field
UK-North Sea-focused oil and gas firm IOG on Wednesday confirmed first gas production from the Elgood field, part of Phase 1 of its Saturn Banks Project.
Oil&Gas Drilling
17-03-2022
Nigeria’s Rig Count up as OPEC Warns of Uncertainty from Impact of Ukraine Conflict
The Organisation of Petroleum Exporting Countries (OPEC) has kept its key oil market projections for 2022 unchanged, but it expects to adjust the forecasts in the coming weeks when there is more clarity on the impact of the conflict in Ukraine.
Crude Oil
17-03-2022
Oil PSUs Readying to Buy Discounted Russian Crude
Companies would make the move in a day or two after they achieve clarity on insurance, freight and payment for the Russian oil in view of the Western sanctions on Russia for its invasion of Ukraine
Crude Oil
17-03-2022
IEA: 3 mbpd of Russian Oil may not Reach Market from April
Rising commodity prices and sanctions on Russia "are expected to appreciably depress global economic growth" and impact inflation, said the Paris-based IEA, offering a bleak picture of undersupply and uncertainty for the oil market.
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U.S. Weighs Sanctions on Russia Energy Flows, but Time Is Not 'Right Now'
