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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 & Gas Supply
05-02-2022
Opec+ Agrees 400,000 b/d Hike for March
Opec+ ministers have agreed to press ahead with another 400,000 b/d increase in the group's crude output quota next month.
Crude Oil
04-02-2022
China’s November Base Oil Imports Rise
China's base oil imports rose in November, supported by increased demand for replenishment cargoes at lower prices.
Crude Oil
04-02-2022
Venezuela Takes First Iranian Condensate of 2022
Venezuela has received this year's first cargo of the Iranian condensate that has proven critical to its crude production recovery.
Crude Oil
03-02-2022
Ugandan Oil Export Project Gets Official Launch
Uganda's journey to become a fully fledged oil exporter has reached a key milestone with an official ceremony in Kampala to mark the final investment decision on a project to develop oil fields in the Lake Albert basin and link them to the Tanzanian
Crude Oil
29-01-2022
Novak: Russia To Resume Oil Output To 90% Of Pre-pandemic Level
Russia will be able to resume its oil production to 90% of the levels it was producing prior to the pandemic, Russian Deputy Prime Minister Alexander Novak said in an interview aired on Russian television on Wednesday.
Crude Oil
27-01-2022
OPEC+ Set To Continue With 400,000 Bpd Production Increase
The OPEC+ group is expected to decide next week whether it should continue unwinding the oil production cuts by another 400,000 barrels per day in March
Crude Oil
27-01-2022
Guyana’s Oil Production To Increase Three-Fold Next Month
Exxon plans to begin oil production from a second platform offshore Guyana next month
Crude Oil
27-01-2022
Ice Brent Crude at $90/bl
Front-month Ice Brent crude futures prices topped $90/bl today for the first time since October 2014.
LNG
27-01-2022
Thailand Imports more LNG in December
Thailand's December 2021 LNG imports rose on the month and on the year, likely as domestic gas production continued to fall.
Crude Oil
27-01-2022
U.S. Releases Another 13.4 Million Barrels From SPR
The U.S. administration has approved the release of another 13.4 million barrels of crude from the strategic petroleum reserve in a move first announced last November by the White House as an attempt to ease upward pressure on fuel prices.
Crude Oil
26-01-2022
Peru Warns Repsol Over Oil Spill
A suspension of Repsol's refinery is among the punitive measures that Peru is considering in response to a damaging oil spill last week.
Natural Gas
26-01-2022
Saudi Arabia’s Gas Production Hits Record-High
Saudi Arabia has grown its natural gas production by 30 percent in a decade to a record 11 billion cubic feet per day (Bcf/d) in 2020
Oil&Gas Drilling
26-01-2022
Shell Makes Significant Oil & Gas Discovery Offshore Namibia
Shell has made a significant oil and gas discovery offshore Namibia, one of the expected hotspots for exploration this year.
Oil Price
25-01-2022
Japan to Subsidize Oil Wholesalers for 1st Time to Curb Fuel Price
Japan's industry minister Koichi Hagiuda said Tuesday the government will implement for the first time its oil industry subsidy program, which is aimed at curbing petroleum fuel prices starting later this week following a recent surge in oil prices.
Oil Refinery
25-01-2022
Japan’s Eneos to Close Wakayama Oil Refinery on Falling Demand
Japan’s Eneos Holdings Inc. will close one of its oil refineries next year due to falling domestic demand and the shift away from fossil fuels.
Natural Gas
25-01-2022
Texas Natural Gas Production Falls as Freezing Weather Sets in
Texas natural gas production dropped for the second time this month because of freezing temperatures settling over the state.
Nigeria
25-01-2022
Nigeria Oil Refinery About to Come Online Later This Year
AfDB President Dr Akinwumi Adesina described the Dangote oil refinery and petrochemical plant project in Nigeria as a game-changing initiative that will spur the continent’s development and deepen regional integration.
Indonesia
24-01-2022
Kuwait's Kufpec Discovers Gas, Condensate in Indonesia
Kufpec, the foreign upstream arm of Kuwait's state-owned KPC, today announced a gas and condensate discovery in the Anambas block in the Natuna Sea north of Indonesia, marking the company's first ever offshore find.
Market Analysis
24-01-2022
EIA Forecasts US Fossil Fuel Production to Reach New Highs in 2023
After declining in 2020, the combined production of US fossil fuels increased by 2% in 2021 to 77.14 quadrillion British thermal units.
Crude Oil
24-01-2022
OPEC’s Shrinking Capacity Could Send Oil Above $100
The oil market is quickly realizing that many OPEC producers may not have the capacity to boost output much further.
Crude Oil
24-01-2022
Russia’s Oil Output Could Peak In 2023
There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow.
Crude Oil
24-01-2022
China's Crude Oil Output Rises in 2021
China's crude oil output reached nearly 199 million tonnes last year, up 2.4 percent from the previous year, official data showed.
Oil & Gas Trade
22-01-2022
Chinese LNG Reload Heads to Europe
Europe is poised to receive a cargo reloaded at a Chinese LNG import terminal, as the region remains the global premium market for LNG and weaker demand leads Chinese firms to resell cargoes.
Natural Gas
21-01-2022
China Is Reselling LNG Cargoes, Driving Gas Prices Lower
Major Chinese LNG importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to see it through the winter and easing concerns about the global gas crunch.
Crude Oil
21-01-2022
Norway Recorded Higher Oil & Gas Output in December
Norway’s oil and gas production increased in December 2021 when compared to the previous month but it was slightly below predictions made by the Norwegian Petroleum Directorate.
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