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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
16-02-2023

First Middle East LNG Cargo to Germany Delivered by ADNOC
ADNOC and RWE Aktiengesellschaft (RWE) announced today the successful delivery of the first shipment of LNG from Abu Dhabi in the United Arab Emirates (UAE) to the Elbehafen floating LNG terminal in Brunsbüttel, Germany.Produced by ADNOC Gas at D
LNG
16-02-2023

A Detailed Look at Germany’s LNG Buildout
German utility RWE's trading arm received its first cargo of LNG at the North Sea port of Brunsbuettel, following first LNG arrivals at Wilhelmshaven late last year and test shipments at Lubmin. Germany is looking to end its reliance on Russian ga
Oil & Gas Trade
16-02-2023

First GECF Monthly Gas Market Report now available
Doha, QATAR – 15 February 2023: The GECF is pleased to unveil the inaugural edition of the Monthly Gas Market Report (MGMR). This new publication offers a comprehensive analysis of the global gas market on a monthly basis. It is made publicly av
Crude Oil
15-02-2023

Biden Administration Plans to Sell 26 Million Barrels of Crude
The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, fulfilling budget directives mandated years ago that it had sought to stop as oil prices have stabilized.The congressionally mandated sale will amount to 26 millio
Oil & Gas Supply
15-02-2023

OPEC Expects Tighter Oil Market With Lower Supply and Higher Demand
(Bloomberg) – OPEC expects a slightly tighter global oil market than previously forecast as the group nudged up its demand estimate and trimmed its supply outlook.The Organization of Petroleum Exporting Countries raised its projection for the am
LNG
13-02-2023

Growth in LNG Export Capacity Will Be Limited in 2023
The LNG transport ship called KARMOL LNGT Powership Africa is shown offshore Africa in May 2022. (Photo: Reuters.)After growing aggressively for a decade, the annual additions to world LNG export capacity will slow abruptly in 2023, a recent study has sho
Natural Gas
13-02-2023

Proved Gas Reserves in U.S. Grow To 625.4 Tcf
Proved reserves of natural gas in the United States grew to a new record of 625.4 trillion cubic feet (Tcf) in 2021, the latest year in which full statistics are available.A recent report from the U.S. Energy Information Administration indicates that prov
Oil & Gas Trade
13-02-2023

Petronas Divests Entire Interest in Engen
Petronas has reached an agreement to sell its entire 74 percent interest in Engen Limited to Vivo Energy, one of the largest African fuel retail operators and part of multinational energy company Vitol.Petronas President and Group Chief Executive Officer
Oil&Gas Drilling
13-02-2023

BP Conducts New Drilling Operation in Azerbaijan for First Time
In 2022, bp spent about $470m in operating expenditure and $1.6bn in capital expenditure on ACG activities, Azernews reports, citing a bp press release.During the year, the Azeri Central East (ACE) platform topsides and drilling facilities fabrication act
Oil Price
13-02-2023

Producers See Oil Rebound to $100 a Barrel
A view shows the Yan Dun Jiao 1 bulk carrier in the Vostochny container port in the shore of Nakhodka Bay near the port city of Nakhodka, Russia. — ReutersLONDON: Oil may resume its rally in 2023 as Chinese demand recovers after Covid curbs were scrapped
Oil Price
13-02-2023

Russia proposes caps on oil export discounts -draft law
Image used for illustrative purpose only. A view shows a local oil refinery in Omsk, Russia June 6, 2022. Picture taken June 6, 2022. REUTERS/Alexey Malgavko Image for illustrative purposeUnder the draft proposal, the discount on dated Brent oil will be l
Oil Exploration
13-02-2023

Egypt Plans 3 Tenders for Oil and Gas Exploration, Production in 2023 -Minister
Flames rise from an oil refinery in Cairo, May 6, 2008. Image used for illustrative purpose.Reuters Images/Nasser NuriEgypt plans to offer three international tenders for oil and gas exploration and productionCAIRO - Egypt plans to offer three internation
Oil Price
13-02-2023

Oil Prices Rise Over 2% On Russian Plan to Cut Output
Doha: Oil prices rose more than 2 percent on Friday as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s crude and fuel. Brent crude futures rose $1.89 to $86.39 a barrel. U.S. WTI crud
LNG
13-02-2023

Seaside LNG Becomes Largest Owner of LNG Barges in US
Seaside LNG has acquired the liquefied natural gas fueling barge Clean Jacksonville from TOTE Maritime Puerto Rico, LLC, a subsidiary of TOTE Group.Seaside now has the largest fleet of LNG barges operating in the United States, the company claims.Seaside
Oil Pipeline
10-02-2023

USA EIA Reveals Latest Gasoline and Diesel Price Forecasts
The U.S. Energy Information Administration (EIA) has revealed its latest gasoline and diesel price forecasts for 2023 and 2024 in its February short term energy outlook (STEO).The EIA now expects the retail gasoline price to average $3.39 per gallon in 20
Market Analysis
10-02-2023

North America Dominates the Global Shale Oil Market by Producing 50% Of the Total Market for Shale Oil; Learn About Market Drivers & Restraints.
The current market is growing at a moderate pace by registering a healthy CAGR during the foreseen time. The rising consumption of shale oil and growing end-use industries, including the petrochemical sector, are accelerating the demand for shale oil duri
Oil and Gas Equipment
10-02-2023

Petrogas Picks Umbilicals Provider for North Sea Gas Fields
JDR, part of TFKable Group, has secured a contract from Petrogas E&P Netherlands for the supply of two umbilicals for offshore conventional gas fields in the Netherlands.The A15 and B10 fields are located in quads A and B, in a shallow water depth of
Oil Price
10-02-2023

Oil Prices Steady as Build-up in Us Crude Stocks Eases Supply Fears
Workers on an oil drilling rig in Stanton, Texas. US crude stocks increased by 2.4 million barrels last week, the US Energy Information Administration said. AFPOil prices were steady in morning trade on Thursday, as a large increase in US crude stocks off
Oil & Gas Trade
09-02-2023

Dana Gas Reports 53% Rise in 2022 Adjusted Net Profit on Higher Oil Prices
The Khor Mor gas complex, operated by Crescent and Dana Gas, in the Kurdistan Region of Iraq. Photo: Crescent PetroleumDana Gas, one of the largest private natural gas companies in the Middle East, reported a 53 per cent annual rise in adjusted net profit
Oil & Gas Trade
08-02-2023

What Would War-End Mean for Global Oil and Gas?
The end of the war in Ukraine would reduce pressure on Western governments to continue expanding sanctions on Russia’s oil and gas sector.That’s according to Matthew Bey, a Senior Global Analyst at risk intelligence company RANE, who o
Oil & Gas Trade
08-02-2023

India Will Buy Oil From ‘Wherever We Have to’ if Terms Are Beneficial, Energy Minister Says
India will secure oil from anywhere as long as the terms are beneficial, India’s energy minister told CNBC.India is the third largest oil consumer in the world, and according to Hardeep Singh Puri, accounts for 30% of global consumption.Today we
Oil & Gas Trade
08-02-2023

BP Posts Record Profit and Raises Dividend on Oil Price Boost
Fuel prices at a BP filling station in Liverpool. BP will invest up to $1 billion a year in 'high quality' oil and gas projects. PAOil company BP has posted a record profit of $28 billion for 2022 on higher energy prices and raised its div
Oil & Gas Trade
08-02-2023

Turkey’s Ceyhan Oil Port Disrupted by Weather as Earthquake Damage Assessed
Adverse weather conditions are obstructing loading operations at Turkey’s Ceyhan port, where the impact of Monday’s immense twin earthquakes is still being assessed, according to oil traders and shipping sources.Operations were interru
Oil Price
08-02-2023

Oil Prices Steady Amid Prospects of Fuel Demand Rebound in China
Global oil demand is set to surge to record levels this year as China's economy recovers. GettyOil prices were steady in morning trade on Monday as the prospects of a rebound in fuel demand in China offset concerns about a recession.Brent, the ben
Oil Price
08-02-2023

Oil Prices Rise Amid Signs of Tightening Demand
Traders at the New York Stock Exchange. Analysts expect the price cap on Russian refined product exports to have a bigger impact on global crude flows than the price cap on its crude. GettyOil prices rose in morning trade on Tuesday amid signs that China&

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