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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
23-03-2023

Handcuffed to Natural Gas Volatility
Can U.S. natural gas be two maddeningly contradictory things at the same time? The answer appears to be a resounding yes. The nation’s supply of natural gas has become both the crutch of the U.S. energy system and also an energy affordability an
Oil Price
23-03-2023

OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierre Andurand of Andurand Capital said on Tuesday.Still, electric vehicles will eventually sap gasoline demand
Natural Gas
23-03-2023

Russia Announces Progress With China on the Power of Siberia 2 Gas Pipeline
Following talks in Moscow, Russia has announced progress with China on the proposed Power of Siberia 2 pipeline project, which will be able to deliver 50 bcm/year of natural gas to China and will run for 6,700 km across Russia, Mongolia and China (includi
Natural Gas
23-03-2023

Rosneft’s Natural Gas Output Rose by 15% In 2022 (Russia)
The Russian state-owned oil company Rosneft has released its 2022 results, posting a net profit of RUB813bn (US$10.5bn, -7.9% compared to 2021). The group produced 5.1 mboe/d of hydrocarbon in 2022 (+2.3%), including 74.4 bcm of natural gas (+15%). Rosnef
Oil Refinery
23-03-2023

NTPC, Indian Oil Partner to Develop Re Projects for Refineries
This will help meet the round-the-clock power requirement for IOCL Refineries.NTPC subsidiary, NTPC Green Energy Limited (NGEL), signed a joint venture deal with the Indian Oil Corporation (IOCL) to set up renewable energy projects to comply with the roun
Energy Technology
22-03-2023

Sulzer Successfully Starts up World’s Largest Pygas-To-Styrene Extraction Unit
Sulzer Chemtech (GTC Technology) has completed the start-up of the world’s largest facility for styrene extraction from pyrolysis gasoline (pygas) derived from naphtha cracking. Located in Zhejiang Petroleum & Chemical Co., Ltd.’s
Oil&Gas Drilling
21-03-2023

Japanese Firm Taking Over Country’s Only Offshore Drilling Contractor to Fortify Its Oil & Gas Business
Hakuryu-11 jack-up rig; Source: JDCJapan’s oil and gas player JX Nippon Oil & Gas Exploration Corporation is in the process of acquiring the country’s rig owner, Japan Drilling Co. (JDC), in a bid to strengthen its position in the
Oil & Gas Trade
21-03-2023

Venezuelan Oil Minister Resigns on Investigation
Venezuela's oil minister Tareck El Aissami offered his resignation after three years in the post in the wake of a corruption investigation into state-owned oil company PdV."In virtue of the investigations that have started into serious acts o
Oil & Gas Trade
21-03-2023

IMF: Libya’s Economy Will Depend on Oil and Gas Production for the Foreseeable Future
The country faces the challenge of reducing its reliance on hydrocarbons, while fostering stronger and more inclusive private sector-led growth, lender says
Nord Stream
20-03-2023

Nord Stream Pipeline Blasts Stirred up Toxic Sediment
The explosions happened in a dumping ground for chemical warfare, but other contaminants proved most toxic to marine life.
Energy Security
20-03-2023

Oil Spill Fear After Fatal Explosion on Chevron FSO Offshore Thailand
One contractor killed in incident on the Benchamas 2Government agencies are on alert for a potential oil spill from the floating storage and offloading (FSO) vessel deployed on US supermajor Chevron’s Benchamas field offshore Thailand following
United Kingdom
20-03-2023

BP Ties up With PetroChina to Develop Ccus Cluster in Southern China
Hainan project will draw expertise from BP’s The Net Zero Teesside Power project in UK
Oil Refinery
17-03-2023

Jumbo-SAL-Alliance commences Basrah Refinery Upgrading Project shipments for JGC Corporation
The Jumbo-SAL-Alliance (JSA) has commenced its scope of work in the Basrah Refinery Upgrading Project for JGC Corporation. It is one of the largest projects ever undertaken by the Alliance. The Jumbo Javelin loaded the first of 19 transports at Dahej Indi
Oil & Gas Trade
17-03-2023

Russian Exports: Shipments Fall on Black Sea Storms, Druzhba
kidsnord/ShutterstockRussia’s crude oil exports declined by nearly 9% in February due mainly to port stoppages in Novorossiysk and lower flows to Europe.China and India absorbed 85% of Russia’s seaborne crude shipments for the month, o
Oil Price
17-03-2023

Global Oil Demand Set to Rise ‘Sharply’ on Air Travel Rebound and China Recovery
A floating refinery and storage vessel crosses Egypt's Suez Canal. Global oil demand will rise by 2 million bpd in 2023. AFPThe International Energy Agency expects global oil demand to rise sharply this year amid a rebound in air traffic and pent-
Natural Gas
16-03-2023

MHIET Releases SGP M2000, a New Natural Gas Engine Cogeneration System
- Help Increasing the Value of DER, Offering High Efficiency in Compact Body -- Achieved electrical efficiency of 44.3%, world's highest-class for 2,000kW natural gas engine- Offering with compact footprint, to be released for Japan market in Apri
Oil Price
15-03-2023

Oil Falls as SVB Collapse Rocks Financial Markets
Oil prices fell more than $1, extending the previous day's slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis.Brent crude futures were down 82 cents, or 1 per cent, at $79.95 a ba
Natural Gas
15-03-2023

Egypt to Announce New Energy Strategy in Coming Weeks
Decarbonisation, natural gas and hydrogen will be key elements of transition plan to reach 42 per cent renewable energy by 2030
LNG
14-03-2023

Fast-Growing Lithuanian Operator Secures Commissioning Contract With Italian LNG Import Terminal
Lithuania-based regasification operator is increasing its presence in countries ranging from Germany to BrazilLithuanian liquefied natural gas import terminal operator Klaipedos Nafta has secured a contract from Italian network operator Snam for the insta
Oil Exploration
14-03-2023

Brazil’s First as Fugro and Petrobras Complete Remote Subsea Inspection Survey
Dutch geo-data specialist Fugro and Brazilian oil and gas giant Petrobras have completed what they said is the first-ever remote subsea inspection survey off the coast of Brazil.Fugro used a remotely operated vehicle (ROV) deployed from the Fugro Aquarius
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

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