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Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Price
15-01-2025

Oil Little Changed as Falling US Stockpiles Outweigh Soft Demand Outlook
Crude oil production in KazakhstanOil prices were little changed on Wednesday, after falling the previous day, as a dip in U.S. crude stockpiles and expectations of supply disruptions from sanctions on Russian tankers lent support amid forecasts for lower
Oil Price
15-01-2025

EIA Expects Oil Prices to Be Under Pressure From Oversupply in 2025, 2026
A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, U.S., March 17, 2023.Oil prices will be under pressure over the next two years as global production growth outpaces demand, the U.S. Energy In
Natural Gas
15-01-2025

Exxon Makes Natural Gas Discovery in Mediterranean Sea off Egypt
Exxon Mobil Corp. discovered natural gas off the coast of Egypt after successfully drilling an exploration well in the Mediterranean Sea.Exxon completed the Nefertari-1 well in the North Marakia Block, which is located about five miles off Egypt&rsquo
Crude Oil
15-01-2025

Guyana Exported 225 Crude Cargoes in 2024
Vessels carrying supplies for an offshore oil platform operated by Exxon Mobil are seen at the Guyana Shore Base Inc wharf on the Demerara River, south of Georgetown, Guyana January 23, 2020.Guyana exported 225 cargoes of crude oil in 2024, its energy min
Natural Gas
15-01-2025

Investors, IPPs See Opportunities in Natural Gas Generation
The Nueces Bay natural gas-fired plant.With lucrative renewable tax credits and rising electricity demand forecasts, the U.S. power market remains highly desirable for international investors.The latest action took place this week, when a subsidiary of th
Natural Gas
15-01-2025

Marcos Signs Into Law Bill Promoting Development of PH Natural Gas Industry
President Ferdinand ''Bongbong'' Marcos Jr. has signed into law the measure promoting the development of the Philippine Natural Gas Industry.Signed on January 8, Republic Act No. 12120 will promote natural gas as a safe, ef
LNG
18-01-2025

Sailing Green: James Fisher Books LNG Dual-Fuel Tanker Quartet in China
As disclosed, the steel cutting took place in November 2024, with the handover of the first tanker anticipated for the end of 2025.Owing to their LNG/dual-fuel propulsion capability, the vessels are projected to achieve minimal operational carbon dioxide
Oil&Gas Drilling
14-01-2025

BP Eyes First Gas Months Earlier With Subsea Ops Already Underway, as Valaris Rig Moves to Next Well
Valaris DS-12 drillshipUK-headquartered energy giant BP has wrapped up drilling activities at two wells, targeting to bring them on stream next month. To this end, subsea commissioning operations are ongoing within the Egyptian Exclusive Economic Zone (EE
LNG
18-01-2025

Carnival’s LNG-Powered Cruise Ship Duo to Feature Silverstream’s ALS
The world’s largest cruise company Carnival Corporation & plc has commissioned the UK’s cleantech company Silverstream Technologies to install its air lubrication system (ALS) on another duo of Excel-class cruise ships powered by l
Crude Oil
18-01-2025

Valeura Posts Record Oil Production in Q4
Valeura's oil production averaged 26.1 million barrels per day during the fourth quarter of 2024.Valeura Energy Inc. has said its oil production average hit a record high in the fourth quarter of 2024, with oil sales surpassing production volumes.
Oil Price
14-01-2025

Azerbaijani Oil Price Surpasses $84
A barrel of Azeri Light crude rose by $2.67, or 3.51 %, reaching $84.53 on Tuesday.The lowest price ever recorded for Azeri Light was $15.81 per barrel on April 21, 2020, while its highest price was $149.66 per barrel in July 2008.
Oil Refinery
18-01-2025

Top Five Reasons Refineries Worldwide Are Embracing Blending of Petroleum Products
One expression frequently used since the Nigerian National Petroleum Company Limited recommenced operations at the rejuvenated Port Harcourt Refinery last November is ‘blending’, as many accused the state-owned company of not being tra
Oil Price
14-01-2025

Oil Hits Four-Month High in Boost for Budget
The price of Brent crude, Nigeria’s benchmark grade, extended gains for a third session on Monday, rising above $80 a barrel to its highest in more than four months, driven mainly by wider United States sanctions on Russian oil and their expecte
Oil Field
14-01-2025

Atlas Announces First Commercial Sand Delivery From Permian, Enhancing Oilfield Logistics
Atlas Energy Solutions Inc. today announced the first commercial delivery of sand off its Dune Express conveyor system in the Permian basin. The sand was originally produced and placed onto Atlas’ Dune Express at its Kermit facility and traveled
Natural Gas
14-01-2025

Geometric Power-NNPC Gas Supply Deal Improves Electricity Supply to Aba
The Southeastern Zone of the Electricity Consumers Association of Nigeria (ECAN) has lauded Aba Power for the radical improvement in recent times in electricity supply to the Aba Ring Fence, which comprises nine of the 17 local government areas (LGAs) in
Crude Oil
14-01-2025

China Expands Operations Across Iraq’s Huge West Qurna 1 Oil Field
The history of the Middle East since the 1990s has been in many aspects been defined by China’s need to secure sufficient energy to power its economic growth to rival the superpower status of the U.S., and Washington’s efforts to keep
Crude Oil
14-01-2025

Well Malfunction Causes Bowman County Spill
A malfunction in a well caused produced water and crude oil to spill in Bowman County.State regulators said about 235 barrels of produced water and 15 barrels of crude oil spilled about eight miles southeast of Marmarth.Denbury Onshore notified the state
Oil Pipeline
14-01-2025

Enbridge Preps Pipeline Buildout for Trump-Driven Drilling Boom
Enbridge Inc. is devising plans to rapidly boost capacity on its US oil pipeline system if the incoming Trump administration succeeds in kicking off a drilling boom.The company sees an opportunity to move several hundred thousand more barrels of oil a day
Natural Gas
13-01-2025

Milestone Achieved for UK’s Largest Planned Gas and Hydrogen Storage Hub
EnergyPathways' chief executive Ben Clube.AIM-listed EnergyPathways has achieved a major milestone for its Marram Energy Storage Hub (MESH) project, as the North Sea Transition Authority (NSTA) has approved the company’s licence operator
Oil & Gas Supply
13-01-2025

People Think They’ve Found the Culprit as UK Gas Storage Drops to ‘Concerningly Low’ Levels
Reminders that the Conservatives oversaw the closure of the Rough gas storage facility off the coast of East Yorkshire have been posted on social media in the wake of warnings from Centrica about concerningly low storage levels.On Friday (10/1), the netwo
Oil & Gas Supply
13-01-2025

Slovakia’s Gas Supplies to Be Partly Secured via Hungary
Slovak Prime Minister Robert Fico gave an interview to television channel TA3, in which he touched on the issue of gas transit. The non-renewal of Ukraine’s contract with Gazprom meant that from January 1 Russian gas supplies to Europe via Ukrai
Oil Refinery
13-01-2025

Serbia Ready to Buy Russian Stake in NIS Refiner
Serbia's president said the country has the money to pay for Gazprom's stake in the Balkan country's only refiner to preserve production amid new U.S. sanctions against Russia.Serbia can pay Gazprom Neft PJSC and Gazprom PJSC to ex
Crude Oil
13-01-2025

Norway Hits New Annual Gas Production Record
Norway's natural gas output set a new record in 2024 with 124 billion standard cubic meters sold, according to the country's upstream regulator.Norway’s natural gas output set a new record in 2024 with 124 billion standard cubic
Oil & Gas Trade
13-01-2025

Azerbaijan to Resume Gas Export to Serbia Soon
Azerbaijan will resume export of gas to Serbia in the near future.Serbian President Aleksandar Vucic said at a press conference earlier that supplies of gas from Azerbaijan were halted due to issues at the Shah Deniz field."We received a notification
Crude Oil
13-01-2025

Kazakhstan Imposes Fine on Major Oil and Gas Company
One of Kazakhstan's largest oil and gas companies, Mangistaumunaigaz, has been fined 32 billion tenge ($60 million), Trend reports via the General Prosecutor's Office of the Mangystau region of Kazakhstan."Mangistaumunaigaz discharged

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