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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
14-03-2023
Biden Administration Approves Alaska Oil Drilling Project
Environmental groups fear for Alaska's wildlife. Photo: Eric FisherPresident Joe Biden's administration on Monday approved an oil drilling project on Alaska's North Slope.The Interior Department approved US energy company ConocoPhi
LNG
13-03-2023
Bahrain Explores Constructing LNG Export Facility
Bahrain aims to slash domestic natural gas consumption under a plan to decarbonize its economy and is exploring ways to export the fuel to international markets, the chairman of the kingdom's energy company said.The Gulf Arab state plans to build
LNG
13-03-2023
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. Global LNG supply is expected to increase by 1% y-o-y this summer, to 200 million MT. Meanwhile, global LNG
Oil & Gas Supply
13-03-2023
Global Liquid Fuel Production to Outpace Demand
The U.S. Energy Information Administration expects global liquid fuel production to outpace demand in 2023 and 2024.The U.S. Energy Information Administration (EIA) expects global liquid fuel production to outpace demand in 2023 and 2024, according to its
Natural Gas
13-03-2023
Premium Grows for US Gas Certified as 'Low-Emission'
Global buyers are increasingly willing to pay more for US natural gas that has been certified as low-emission, top industry officials agree, although the market is still evolving as customers weigh the costs and benefits.We are seeing a premium on the gas
Oil Price
13-03-2023
Aramco’s Profit Soars 46% To Record $161BN on Higher Oil Prices
Aramco oil tanks in Abqaiq, Saudi Arabia. The state energy company will raise crude production to 13 million barrels per day by 2027.Saudi Aramco, the world's largest oil-exporting company, said annual net profit surged 46 per cent in 2022, driven
Oil Price
10-03-2023
Biden Sets Sights on Scrapping Oil and Gas Subsidies
The Biden administration is planning to eliminate subsidies for the oil and gas industry in its next budget, Reuters has reported, citing a White House document.The report notes that the suggestion to remove government incentives for the oil and gas indus
Oil&Gas Drilling
10-03-2023
Eco Atlantic Notes Africa Oil Corp. Compliant Report on Offshore South Africa Exploration Blocks
(WO) – Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company focused on the offshore Atlantic Margins, has noted Africa Oil Corp.’s publication of an independent, NI 51-101 compliant report of qualified reserves and re
Natural Gas
09-03-2023
China, Vietnam Lead Markets With Most Gas Plant Build-Out: Report
The gas capacity across the globe grew by 22% YoY in 2022.China and Vietnam led the markets with the most gas-fired power plant build-out in 2022, Global Energy Monitor (GEM) reported.There are currently 117.21 gigawatts (GW) of gas plant projects in vary
Natural Gas
09-03-2023
Ceraweek: Collapse in Us Natural Gas Prices Dents Market for Shale Deals
(Reuters) — This year's freefall in U.S. natural gas prices has upended the acquisitions market for gas producers and spooked investors that lined up to buy when prices were much, much higher.The price volatility has scuppered plans by a unit of T
Oil Pipeline
09-03-2023
Reelwell as Announces Frame Agreement With Equinor to Provide Drill Pipe for Their Operations
The company has announced the signing of a frame agreement with Equinor ASA to provide DualLink™ powered and wired drill pipe for their operations, ahead of installing and operating the system at their Oseberg field.We are very pleased to have s
Energy Security
09-03-2023
German Minister: Nord Stream Attacks May Be ‘False Flag’ Operation
STOCKHOLM (Reuters) - German Defence Minister Boris Pistorius on Wednesday warned against reaching premature conclusions on who was responsible for blowing up the Nord Stream pipelines, suggesting the attack could also have been a "false flag" o
Oil Refinery
08-03-2023
Hyundai Engineering Secures Advantageous Position From Oil Refinery Construction in Indonesia
An aerial photo of Balikpapan Oil Refinery built by Hyundai Engineering in East Kalimantan on Borneo Island, IndonesiaThe Balikpapan Oil Refinery, built by Hyundai Engineering in East Kalimantan on Borneo Island in Indonesia, reached a 68 percent operatio
LNG
08-03-2023
Shell and Equinor Complete LNG Project Negotiations With Tanzania
Tanzania’s Ministry of Energy has announced on Twitter that the negotiations for the construction of a $30 billion liquefied natural gas (LNG) terminal between Tanzania, Norway’s Equinor, and UK’s Shell are complete and exper
LNG
08-03-2023
DUH Objects to Planned Pipeline for the LNG Terminal off Rügen in Germany
Archive / Courtesy of Deutsche ReGasThe German Environmental Aid (Deutsche Umwelthilfe – DUH) has objected to the construction of a pipeline to connect the planned LNG terminal off Rügen in Germany and asked the responsible Stralsund Mi
Oil&Gas Drilling
07-03-2023
Market Insights on Offshore Drilling Riser & Up-To-Date Key Trends
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
07-03-2023
Europe’s Gas Storage Levels Forecast to Finish Winter Higher Than 2020
Modelling from Cornwall Insight suggests European gas storage levels will end this winter between 45-61% full, with an average of 55% and could reach 88-100% full by September 2023. The data, included in our insight paper ‘Crisis behind, challen
LNG
07-03-2023
Chesapeake Energy, gunvor sign Long-term lNG supply agreement
(WO) – Chesapeake Energy Corporation and Gunvor Group Ltd announced that Gunvor Singapore Pte Ltd ("Gunvor") has entered into a Heads of Agreement ("HOA") with Chesapeake Energy Marketing L.L.C. ("Chesapeake"), a su
Oil&Gas Drilling
07-03-2023
Shell, Qatar energy make light oil discovery offshore Namibia
(WO) – QatarEnergy made a light oil discovery in the Jonker-1X deep-water exploration well drilled in the PEL-39 Exploration License, offshore Namibia.The Jonker-1X well was drilled to a total depth of 6,168 m in a water depth of 2,210 m. The ac
Natural Gas
06-03-2023
PG&E Customers’ March Natural Gas Bills Expected to Decrease on Average 75%
After three months of higher-than-normal natural gas market prices driving up energy bills, Pacific Gas and Electric Company (PG&E) customers can expect, on average, a 75% decline in their March natural gas bills.The decrease is due in part to PG&
Oil & Gas Supply
06-03-2023
Slim Bunker Demand Pressures Low-Sulphur Fuel Oil
The increased use of vessel exhaust scrubbers has boosted HSFO demand, narrowing the spread with lower-sulphur bunker fuel, write Sammy Six and Sarah GiamVery-low sulphur fuel oil (VLSFO) has fallen to a 10-month low against high-sulphur fuel oil (HSFO),
SINOPEC
02-03-2023
Sinopec Begins $1.56BN Upgrade at Northern China Refinery
China's Sinopec said it has started building a project worth 10.8 billion yuan ($1.56 billion) in a northern subsidiary refinery aimed at manufacturing more high-end chemicals.The project, being built alongside Sinopec's Shijiangzhuang ref
Oil & Gas Supply
02-03-2023
Shell Energy Adds Last of 16 Solar Batteries to “Landmark” Virtual Power Plant
Dept of Planning and Environment deputy secretary Leon Walker (left) and PDNSW ESG executive director Peter Graham (right). Image suppliedSixteen regional commercial New South Wales government offices will soon act as a rooftop solar fuelled virtual power
Oil & Gas Trade
01-03-2023
Oil Stays Firm on China Growth Hopes
Oil prices rose in Asian trade, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further US interest rate hikes dragging on consumption in the world's biggest economy.Brent crude futures for
Oil & Gas Supply
28-02-2023
Stored Nord Stream Pipes To Be Used With a Floating LNG Terminal in the Baltic
3000 pipes, originally intended to be used to transport Russian gas as part of the Nord Stream 2 pipeline system, have been lying in limbo for over a year in the German port of Mukran in Ruegen on the Baltic Sea.The Russian war of aggression on neighborin
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