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Oil Field
TotalEnergies, Chevron to Exit Myanmar
TotalEnergies and Chevron said they will withdraw from Myanmar because of the worsening situation in the country since a February 2021 military coup.
Natural Gas
China Is Reselling LNG Cargoes, Driving Gas Prices Lower
Major Chinese LNG importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to see i…
Hydrogen Project
S-OIL Signs MOU on Blue Hydrogen Business with Saudi Aramco
S-OIL has signed four MOUs with Saudi Aramco to strengthen cooperation in alternative energy, including research and development on low-carbon future energy sou…
Crude Oil
Norway Recorded Higher Oil & Gas Output in December
Norway’s oil and gas production increased in December 2021 when compared to the previous month but it was slightly below predictions made by the Norwegian Petr…
United States
US Refining Expects Resurgent 2022
US refiners are set for a shift back toward pre-pandemic profits in 2022, with many expecting Covid-19 restrictions to taper amid rebounding demand for products…
Russian Federation
Russia’s February gas-transit plan leaves Europe in the lurch
Russia is keeping Europe’s natural gas market on edge, with no relief in sight from the country’s preliminary supply plans for next month.
LNG
Ghana Plans to Become West Africa’s Gas Hub with Import Terminal
Ghana’s state-owned oil company is progressing with plans to sell liquefied natural gas throughout West Africa after shipments of the fuel begin to flow to an …
Crude Oil
Iraq-Turkey Pipeline Resumes Oil Flows After Explosion
The 450,000-barrels-per-day Kirkuk-Ceyhan pipeline that carries crude from northern Iraq to Turkey’s Ceyhan port for export resumed oil flows on Wednesday afte…
Natural Gas
Brazil's PetroReconcavo Gas Output Doubles in December
Brazilian onshore natural gas producer PetroReconcavo more than doubled production in December from the prior month on newly acquired operations in the Miranga …
Oil Refinery
IEA Revises up 2022 Global Refinery Runs Forecast
The IEA has revised up its 2022 forecast for global refinery runs to within 400,000 b/d of pre-Covid levels.
South Korea
Saudi Aramco Signs 10 Agreements with South Korean Companies to Advance Co-Operation
State-owned oil company signed one deal and nine preliminary agreements with South Korean companies
Oil & Gas Trade
Algeria-Morocco Dispute Hits LPG Trade
A diplomatic breakdown between Algeria and Morocco has disrupted traditional LPG trading flows, with the former looking east to sell and the latter looking west…
Oil Exploration
Japan’s Inpex to Start Domestic Exploratory Drilling
Japanese upstream firm Inpex is planning to start exploratory drilling offshore the country's western Shimane and Yamaguchi prefectures in a search for oil and …
Crude Oil
Goldman Sachs Sees $105 Oil In 2023
Oil prices could hit $100 this year and rise to $105 per barrel in 2023, on the back of a “surprisingly large deficit” on the oil market now due to the much m…
Oil Field
Libyan Output at 1.2mn b/d After Western Field Restart
Libyan production has surpassed 1mn b/d, following last week's restart of four crude and condensate fields in the west of the country.
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