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Crude oil
Crude Oil
UK Considering Big Increase in Energy Windfall Tax, Sources Say
British finance minister Jeremy Hunt is considering a big increase in a windfall tax on oil and gas firms and extending it to power generation firms as he tries…
Crude Oil
Saudi Arabia to Deliver Full Oil Volumes to Asia Despite Production Cut
Saudi Arabia’s state oil company has assured several buyers in Asia it will deliver full contracted volumes in December despite the OPEC+ decision to cut produ…
Crude Oil
Saudi Energy Minister Stresses the Importance of Oil Security
The world cannot go without Saudi oil exports for more than two or three weeks, Saudi Arabia’s Energy Minister, Prince Abdulaziz Bin Salman.
Crude Oil
UK’s Market-Defying North Sea Oil IPO Falls Flat
After braving high-level market volatility in Britain’s biggest IPO of the year, North Sea oil and gas producer Ithaca Energy warned that any further boost to …
Crude Oil
EIA Cuts World Oil Demand Growth for 2023
The U.S. Energy Information Administration has slashed its world oil demand growth forecast for next year as President Biden lashed out at oil companies for not…
Crude Oil
UAE Believes the Oil Industry Is in “Decline Mode”
Crude oil is in “decline mode” in the long term, OPEC heavyweight the United Arab Emirates (UAE) says.
Crude Oil
North America Leads $370 Billion Global Push for Oil & Gas Pipelines
Westwood’s upcoming onshore pipeline market forecast has revealed that between 2022 and 2028, the world will spend almost $370 billion on new oil and gas pipel…
Crude Oil
Oil Shortage Forecasts Clash With Grim Economic Projections
Oil markets can’t seem to choose which direction to head.
OPEC
OPEC+ 'Only a Phone Call Away' if Markets Need Balancing - UAE Minister
The United Arab Emirates' energy minister said on Monday that OPEC+ was always willing to balance crude oil markets if needed, and that if consumers require its…
Crude Oil
World Set to Lose 5 Million Barrels of Oil per Day if Investment Stops
The world will lose 5 million barrels per day of oil each year from current supplies if spending comes to a halt, Dr Sultan Al Jaber, managing director and grou…
Crude Oil
World Bank: Energy Prices Set to Decline in 2023 After Sharp Rise in 2022
The World Bank has predicted that energy prices will decline by 11% in 2023 after having surged 60% in the current year following the war in Ukraine.
Oil Price
Goldman: U.S. SPR Crude Releases to Have Modest Price Influence
The Biden administration's plan to continue releasing the Strategic Petroleum Reserves (SPR) "as appropriate" to bring down retail rates poses limited downside …
Natural Gas
Hungary Will Not Agree to EU Gas Price Cap, Will Need Exemption
Hungary will not agree to an EU price cap on imported gas because it would end Russian deliveries, a senior aide to Prime Minister Viktor Orban said, adding tha…
Natural Gas
Analysis: Renewables Shift Lays Bare Africa’s Energy Dilemma
Africa must build oil and gas pipelines, liquefied natural gas (LNG) terminals, distribution hubs and gas-fired power plants over the next 20 years to unlock it…
Oil Refinery
Guyana Opens Tender for Its First Oil Refinery
Guyana has called for proposals to design, finance and build a 30,000-barrel-per-day (bpd) oil refinery, the first for the South American country as it becomes …
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