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Crude Oil
Ice Brent Crude at $90/bl
Front-month Ice Brent crude futures prices topped $90/bl today for the first time since October 2014.
LNG
Thailand Imports more LNG in December
Thailand's December 2021 LNG imports rose on the month and on the year, likely as domestic gas production continued to fall.
Crude Oil
U.S. Releases Another 13.4 Million Barrels From SPR
The U.S. administration has approved the release of another 13.4 million barrels of crude from the strategic petroleum reserve in a move first announced last No…
Crude Oil
Peru Warns Repsol Over Oil Spill
A suspension of Repsol's refinery is among the punitive measures that Peru is considering in response to a damaging oil spill last week.
Natural Gas
Saudi Arabia’s Gas Production Hits Record-High
Saudi Arabia has grown its natural gas production by 30 percent in a decade to a record 11 billion cubic feet per day (Bcf/d) in 2020
Oil&Gas Drilling
Shell Makes Significant Oil & Gas Discovery Offshore Namibia
Shell has made a significant oil and gas discovery offshore Namibia, one of the expected hotspots for exploration this year.
Oil Price
Japan to Subsidize Oil Wholesalers for 1st Time to Curb Fuel Price
Japan's industry minister Koichi Hagiuda said Tuesday the government will implement for the first time its oil industry subsidy program, which is aimed at curbi…
Oil Refinery
Japan’s Eneos to Close Wakayama Oil Refinery on Falling Demand
Japan’s Eneos Holdings Inc. will close one of its oil refineries next year due to falling domestic demand and the shift away from fossil fuels.
Natural Gas
Texas Natural Gas Production Falls as Freezing Weather Sets in
Texas natural gas production dropped for the second time this month because of freezing temperatures settling over the state.
Nigeria
Nigeria Oil Refinery About to Come Online Later This Year
AfDB President Dr Akinwumi Adesina described the Dangote oil refinery and petrochemical plant project in Nigeria as a game-changing initiative that will spur th…
Indonesia
Kuwait's Kufpec Discovers Gas, Condensate in Indonesia
Kufpec, the foreign upstream arm of Kuwait's state-owned KPC, today announced a gas and condensate discovery in the Anambas block in the Natuna Sea north of Ind…
Market Analysis
EIA Forecasts US Fossil Fuel Production to Reach New Highs in 2023
After declining in 2020, the combined production of US fossil fuels increased by 2% in 2021 to 77.14 quadrillion British thermal units.
Crude Oil
OPEC’s Shrinking Capacity Could Send Oil Above $100
The oil market is quickly realizing that many OPEC producers may not have the capacity to boost output much further.
Crude Oil
Russia’s Oil Output Could Peak In 2023
There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow.
Crude Oil
China's Crude Oil Output Rises in 2021
China's crude oil output reached nearly 199 million tonnes last year, up 2.4 percent from the previous year, official data showed.

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