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OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period

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
31-05-2023

Oil Slides 4PC on Worries About US Debt Ceiling, OPEC+ Talks
NEW YORK: Oil prices fell by about 4 percent on Tuesday on concerns about whether the U.S. Congress will pass the U.S. debt ceiling pact and as mixed messages from major producers clouded the supply outlook ahead of the OPEC+ meeting this weekend.Brent cr
Oil & Gas Trade
30-05-2023

Saudi Diesel Imports From Russia, Exports to Singapore Hit Records
Leading crude exporter Saudi Arabia is maximising refining profits by importing unprecedented amounts of cheap Russian diesel and in turn shipping record volumes to Singapore, where the fuel can achieve higher margins, shiptracking data shows.Russia has h
Oil & Gas Trade
30-05-2023

China’s Fuel Oil Imports Soar Due to Curbing Bitumen Blend Intake
China's independent oil refiners are ramping up fuel oil imports to process into gasoline and diesel amid robust refining margins as ongoing cargo inspections at refining hub Shandong have cut off supplies of lower-priced feedstock bitumen blend.T
LNG
30-05-2023

Pakistan LNG Withdraws Termination Notice to PGPC
ISLAMABAD: Pakistan LNG Limited (PLL) on Monday withdrew its termination notice for the operation and services agreement (OSA) with the Pakistan GasPort Consortium (PGPC) that owns and operates the LNG terminal-2, after losing a case in the London Court o
Oil Exploration
30-05-2023

ExxonMobil: Africa to Remain Relevant in Oil Exploration in Years to Come BUSINESS | 2 hours ago
ExxonMobil will continue the search for big new oil and gas fields that can help fund alternative energy sources such as LNG and renewables, even as the threshold for committing exploration spending gets ‘ever higher,’ the US supermajo
Natural Gas
30-05-2023

Gas Price Average in San Diego County Rises for 11th Time in 12 Days
Photo by: David Duprey/ASSOCIATED PRESSFILE - Bob Krueger holds up a gasoline pump nozzle for a photo after filling up a tank at his gasoline station in Clarence, N.Y., Monday, March 7, 2011. (AP Photo/David Duprey)By: City News ServicePosted at 7:57 AM,
Oil & Gas Supply
29-05-2023

Aker BP Makes a 40-90 Mboe Oil Discovery in the North Sea off Norway
The Norwegian oil exploration company Aker BP has made a significant oil discovery in the North Sea off Norway, with preliminary estimates indicating a gross recoverable volume of 40 to 90 Mboe. The discovery was made while drilling the Øst Fri
Crude Oil
29-05-2023

Asia’s Crude Imports Jump in May as China, India Suck up Russian Oil: Russell
LAUNCESTON, Australia, May 29 (Reuters) - Asia's imports of crude oil are on track for a strong rebound in May as the region's two biggest buyers, China and India, suck up Russian cargoes.A total of 27.73 million barrels per day (bpd) of c
Oil & Gas Trade
29-05-2023

Saudi Arabia Imports Russian Oil, Sends Its Own Supplies to EU
A report by Bloomberg shows that Saudi Arabia has become Europe's largest oil supplier as Riyadh buys record amounts of Russian crude oil for domestic use.Saudi Arabia has become Europe's largest supplier of crude oil as the country sells
Oil Field
29-05-2023

Aramco to Develop 400 MCF per Day Iraqi Gas Field
Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel-Ghani said.Aramco will invest and develop Akkas gas field in the western Iraqi Anbar province, the I
Oil & Gas Trade
29-05-2023

GECF’s Secretary General Commends UAE for COP28 Leadership, Anticipates Resounding Success
Doha, QATAR – 28 May 2023: The Secretary General of the Gas Exporting Countries Forum (GECF), HE Eng. Mohamed Hamel, held a virtual meeting today with HE Ahmed Mohamed Alkaabi, Assistant Undersecretary for Electricity, Water, and Future Energy a
Natural Gas
29-05-2023

The Increasing Number of Offshore Projects Along With the Rising Production of Shale Gas Globally Will Garner the Requirement for Offshore Drilling Risers
The global offshore drilling riser market was estimated to reach a valuation of USD 3.8 Billion in the year 2022. With a steady CAGR of 2.2% from 2023 to 2033, this market is expected to reach USD 4.1 Billion by 2023 and USD 4.9 Billion by 2033.Two main d
Natural Gas
29-05-2023

Falling Gas Prices Calm Europe After Energy Crisis
Benchmark Dutch futures drop for eight straight weeks to the lowest since May 2021European gas prices could fall even further, below €20 a megawatt hour, if Chinese LNG imports prove weak, according to analysts. BloombergEuropean gas prices have
Oil & Gas Supply
26-05-2023

Energy Minister: ‘We Will Never License Oil and Gas Development in the UK That Isn’t Compatible With Net Zero'
Graham Stuart insists new oil and gas licenses are compatible with UK climate goals, as he argues UK can continue to attract green investment without engaging in 'subsidy race'Energy Security and Net Zero Minister Graham Stuart has today d
Crude Oil
25-05-2023

Russia Ready to Support Gasoline Export Restrictions
Russia's Federal Antimonopoly Service (FAS) is ready to support restrictions on the export of gasoline if such a mechanism is proposed, the Interfax news agency reported citing FAS head Maxim Shaskolsky.Sources told Reuters on Tuesday that the Rus
Oil Field
25-05-2023

ADNOC and TAQA Secure $2.4 Billion Investment for Massive Water Project
The project entails the development of a state-of-the-art seawater treatment facility and a transportation network that will serve the Bab and Bu Hasa fields in Abu Dhabi.ADNOC and TAQA have awarded a strategic investment project worth up to $2.4billion (
LNG
25-05-2023

LNG Demand in South Korea to Remain High Despite Nuclear Power Expansion
The market will continue relying on LNG for primary backup fuel amidst its energy transition.The demand for liquefied natural gas (LNG) in South Korea will continue to be strong despite the government’s stronger push to expand nuclear power, Fit
Crude Oil
24-05-2023

Saudi Oil Minister Warns Market Speculators to ‘Watch Out’ Ahead of OPEC+ Meeting
Saudi Oil Minister Prince Abdulaziz bin Salman on Tuesday told market speculators to watch out, reiterating his warning that they could face pain ahead.Speculators, like in any market, they are there to stay. I keep advising that they will be ouching. The
Natural Gas
23-05-2023

China’s Natural Gas Output up 7% In April
An employee of CNPC checks a gas facility in Tianjin. [Photo/Xinhua]BEIJING -- China's natural gas output registered faster growth in April, data from the National Bureau of Statistics showed.The country produced 18.9 billion cubic meters of natur
Oil & Gas Trade
23-05-2023

Iraq, Russia Commit to OPEC+ Oil Production Cuts
A worker at Iraq’s Majnoon oilfield near the southern Iraqi city of Basra. Photo: ReutersBaghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, and the Russian Minister of Energy, Alexander Novak, confirmed, during a p
Crude Oil
23-05-2023

Shell Buys More Australian Gas
Denison Gas supplying volumes from Queensland operationsShell Energy Asia has signed a gas sales agreement (GSA) to buy additional volumes of conventional and non-conventional gas from Denison Gas for customers in the energy-hungry east coast market.Denis
Oil Field
23-05-2023

NIOC Commences Farzad B Gas Field Development Operations
Sour gas from the Farzad B Gas Field will be transferred to Kangan Petro Refining Company in Bushehr Province to be processed and piped to refineries in the South Pars complex in AsalouyehNIOC Commences Farzad B Gas Field Development Operations.....Operat
LNG
23-05-2023

Oman Enters the World’s Largest LNG Exporter Club
Energy exporter OmanThe Sultanate of Oman, the largest energy exporter outside OPEC, has become one of the leading global exporters of liquefied natural gas (LNG) due to a rising demand for clean energy sources, according to a report by Oman Observers, a
LNG
23-05-2023

Shell, Equinor Inch Towards HGA on Tanzania LNG
Equinor has reported its block holds more than 20 trillion cubic feet, while Shell’s blocks have 15 tcf.Shell and Equinor have taken another step forward in their plans for Tanzania LNG and closing in on a host government agreement (HGA).Shell&a
Oil Exploration
22-05-2023

$1M Seismic Technology Deal for Nigeria O&G Onshore Exploration
Stryde has been awarded a contract worth over $1 million for the supply of 10,000 seismic receiver nodes and its Nimble node receiver system in Nigeria.The seismic sensor technology will be utilised on an upcoming 3D seismic survey conducted by Nigerian g

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