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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
Natural Gas
04-04-2023
ACCC No Longer Forecasts Gas Supply Shortfall
The east coast gas market should see sufficient gas supply for 2023, as the latest report from the Australian Competition and Consumer Commission (ACCC) indicates that previous concerns have been solved.In August 2022, when the ACCC forecast a shortfall o
Oil Pipeline
03-04-2023
Sri Lanka & India in Talks for an Oil Pipeline From India to Trincomalee Port
Sri Lanka's President, Ranil Wickremesinghe, on Tuesday, March 28, disclosed that his government is in discussions with India to construct an oil pipeline to transport fuel to the Eastern Port of Trincomalee.According to a news report published by
Natural Gas
03-04-2023
IEC Eyes Maiden Gas Field Development in Indonesia
New York-listed upstream independent Indonesia Energy Corporation (IEC) is negotiating an extension for its producing Kruh block onshore Sumatra, Indonesia, where it is hoping to exploit gas alongside the already flowing oil.IEC unexpectedly found evidenc
Crude Oil
03-04-2023
Surprise Move: OPEC+ Announces Deep Production Cuts to Stabilise Crude Markets
Together with Russia’s announced production cuts, Opec+ move spells output cuts of 1.6 million barrels per daySaudi Arabia, the United Arab Emirates (UAE) and other key oil-producing members of the wider Opec+ alliance have announced surprise pr
Oil & Gas Trade
03-04-2023
EU to Maintain Russian Oil Price Cap at $60
The European Commission told member states that a $60-a-barrel cap on the price of Russian oil is proving effective in hurting the Kremlin’s access to petrodollars while not disrupting the market, and will remain unchanged for now.The bloc&r
LNG
03-04-2023
GTT Entrusted by Hyundai Samho Heavy Industries With the Tank Design of Three New LNG Carriers
GTT has announced that it has received an order from its partner the Korean shipyard Hyundai Samho Heavy Industries for the tank design of three new LNG carriers, on behalf of an Asian ship owner.GTT will design the tanks of these three vessels, which wil
Oil Price
03-04-2023
UAE Petrol and Diesel Prices to Decrease in April
Petrol prices have dropped for a second time this year. Victor Besa / The NationalThe prices of petrol and diesel in the UAE will fall in April, it has been announced.This is the second drop in petrol prices this year. Prices also fell in January due to l
Oil & Gas Trade
03-04-2023
OPEC+ Likely to Maintain Output Cut Amid Strong Oil Market Fundamentals
Opec+ slashed its output by 2 million barrels per day in October last year. ReutersOpec+ will most likely roll over its existing output cuts when it meets on April 3 despite the recent market turmoil that dragged oil prices to their lowest in more than a
Oil & Gas Trade
03-04-2023
Saudi Arabia, UAE and Allies Announce Surprise Oil Production Cuts
Saudi Aramco's Ras Tanura oil refinery and oil terminal. Opec+ members Saudi Arabia, the UAE, Iraq, Kuwait and Algeria have agreed to voluntary oil production cuts. ReutersOpec+ members Saudi Arabia, the UAE, Iraq, Kuwait, Oman and Algeria will im
Oil Price
03-04-2023
Cornwall Insight Release Price Cap Predictions for July and October 2023
Prior to the introduction of the April-June 2023 Default Tariff Cap (price cap), Cornwall Insight are releasing our latest predictions for the third and fourth quarters of 2023. Our forecasts place Q3 (Jul – Sept) at £2,024 and Q4 (Oct
Natural Gas
31-03-2023
Chevron, Marathon Oil and Equatorial Guinea Govt Pursuing Further Development of Gas Mega Hub
Houston-based energy company Marathon Oil Corporation, through its affiliated company Marathon E.G. Holding Limited, has inked a Heads of Agreement (HOA) with the Republic of Equatorial Guinea (E.G.) and Chevron’s Noble Energy E.G. Ltd, to move
Oil Price
31-03-2023
Oil Stable on Mixed Drivers, Market Eyes Iraq Exports
Oil was nearly steady as a surprise drop in US crude stockpiles offset a smaller-than-expected cut to Russian supplies, while investors closely watched developments on Iraqi Kurdistan oil exports.Brent crude futures fell 5 cents, or 0.1 per cent, to $78.2
Natural Gas
31-03-2023
Osaka Gas and Mhi to Collaborate in CO2 Value Chain Development for CCUS
TOKYO, Mar 31, 2023 - (JCN Newswire) - Osaka Gas Co., Ltd. (Osaka Gas) and Mitsubishi Heavy Industries, Ltd. (MHI) have entered into an agreement to conduct a feasibility study on a project to develop a CO2 value chain for CCUS (Carbon Capture, Utilizatio
Oil Refinery
31-03-2023
ADIPEC Downstream Technical Conference
Organised by dmg events, the ADIPEC Downstream Technical Conference offers a wide-reaching platform for the downstream industry. The Conference promotes the exchange of best practice, drives innovation and unlocks market opportunities for investment and g
Oil Refinery
31-03-2023
Mitsubishi Power Supporting Efficient Utilization of Hydrogen in the Petroleum Refining Process
- Launch of Service for Optimization of Energy Balance Using TOMONI -- Support for optimization of hydrogen volume regulation and utilization of by-product hydrogen during the desulfurization stage at the ENEOS Corporation Sakai Refinery.- Expansion into
Oil Pipeline
30-03-2023
Pre-insulated Pipe Market Size Is Expected to Reach a Valuation of US$ 10.6 Billion by 2033
The pre-insulated pipe market is predicted to grow at a CAGR of 5.7% over the forecast period, according to FMI's analysis. The industry's value is anticipated to increase from US$ 6.1 Billion in 2023 to US$ 10.6 Billion by 2033 end.The ma
Market Analysis
29-03-2023
Gas Hydrates Market to Surpass U$ 4,350.5 Million Valuation Till 2033 Due to Rising Technological Advancements
The global gas hydrates market is expected to register substantial growth at a CAGR of 5.4% from 2023 to 2033. The global market is anticipated to be valued at US$ 2,571.2 million in 2023. It would further reach a valuation of US$ 4,350.5 million by the e
United States
28-03-2023
Why America’s ‘energy dominance’ waned in the Middle East
Dynamics changed with 2003 Iraq war, boosted US shale production and increased role of Opec and ChinaThe Nihran Bin Omar oil field flare stacks burn north of Basra, Iraq. APTwenty years ago last week, US tanks rolled across the Iraqi border. And nearly to
Oil & Gas Technology
28-03-2023
Saudi Aramco Buys 10% Stake in China’s Rongsheng Petrochemical in $3.6BN Deal
Aramco will supply 480,000 bpd of Arabian crude oil to Rongsheng affiliate Zhejiang Petroleum and ChemicalSaudi Aramco said the deal with Shenzhen-listed petrochemicals company Rongsheng will significantly expand its downstream operations in China. Photo:
Oil & Gas Technology
28-03-2023
Meet the whole downstream chain at PRC Europe 2023
The questions of green energy availability in Europe, recycling technologies to improve recycling capabilities, and alternative fuels in transportation are brought up for discussions at the Petrochemical and Refining Congress: Europe 2023. The represe
Oil Field
27-03-2023
Production of Daqing Oilfield Tops 2.5B Tonnes
Daqing Oilfield, China's largest onshore oilfield, has produced over 2.5 billion tonnes of crude oil as of Sunday, said the oilfield, a subsidiary of the China National Petroleum Corporation.The oilfield, discovered in 1959, accounts for 36 percen
Crude Oil
27-03-2023
Turkey Stops KRG Ceyhan Crude Flows After Court Ruling
Turkey has formally told the Iraqi federal government that it has stopped pumping crude from the Iraqi Kurdistan region for loading at the Turkish port of Ceyhan, a source with knowledge of the matter tells Argus.The move comes after Baghdad was informed
Oil & Gas Trade
27-03-2023
Iraq Halts Kurdish Region Oil Exports Through Turkey After Winning Arbitration
A delegation from the Oil Ministry will travel to Turkey soon to meet energy officials to agree on new mechanismTurkey has said it will not export crude from Iraq's Kurdish region through its Ceyhan port without Baghdad's approval.Iraq sto
Oil Refinery
27-03-2023
Nigeria Struggles to Find Buyers Amid Strikes in French Refining Sector
France is one of the biggest buyers of Nigerian oilA view shows the Bonny oil terminal in the Niger delta in Nigeria. Between 20 and 25 shipments of Nigerian crude for April loading are still searching for buyers, according to four traders.Nigeria is stru
Oil & Gas Trade
27-03-2023
Saudi Aramco Is ‘Doubling Down’ on China’s Energy Supply, Chief Executive Says
The country is expected to import a record amount of crude this year amid an economic reboundSaudi Aramco's chief executive Amin Nasser. Saudi Arabia exported 87.49 million tonnes of crude oil to China in 2022.Saudi Aramco, the world’s l
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IEA to Expedite 2025 Oil Demand Forecast, OPEC Also Moves Early
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Pemex Deer Park, Texas, Refinery Reports Spill Into Houston Ship Channel
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U.S. Weighs Sanctions on Russia Energy Flows, but Time Is Not 'Right Now'
