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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

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
Saudi Arabia
27-03-2023

Saudi Aramco to Start Building China Refinery and Petrochemical Complex
project announced last year will be fully operational by 2026Saudi Aramco, Norinco Group and Panjin Xincheng Industrial Group will start construction of a refinery and petrochemical plant in north-east China. Photo: AramcoSaudi Aramco, the world&rsquo
LNG
24-03-2023

Höegh LNG Closes Acquisition of Coolco’s LNG Carrier
Höegh LNG, an owner and operator of floating LNG import terminals (FSRUs) and LNG carriers, has completed the acquisition of the 2013-built LNG carrier from Cool Company (CoolCo).Under the deal signed in February 2023, Höegh LNG agreed t
LNG
24-03-2023

Methanol-Ready Mein Schiff 7 Reaches Hull Assembly Stage
Finnish shipbuilding company Meyer Turku has started the hull assembly of the methanol-ready Mein Schiff 7, being built for TUI Cruises.Mein Schiff 7’s keel laying ceremony was celebrated on March 21, as the crane lowered the ship’s fi
LNG
24-03-2023

Germany’s Third Floating LNG Terminal Gears up for Regular Operation
Hoegh Gannet, a floating storage and regasification unit (FSRU) serving the Elbehafen LNG terminal in Brunsbüttel, Germany, has started supplying gas into the grid as regular operations are expected to commence in April.The Elbehafen LNG terminal
Oil Refinery
23-03-2023

The Petrochemical and Refining Congress: Europe 2023
PRC Europe 2023 is the annual B2B Congress which will be held for the 7th time. The Congress gathers the Downstream industry players that are not only making decisions to accelerate the Energy Transition and comply with COP26, but present real projects an

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