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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
24-11-2022

EU Executive Proposes Gas Price Cap at 275 Euros/MWh
The European Union executive on Tuesday proposed a gas price cap for the bloc at 275 euros ($282) per megawatt hour for month-ahead derivatives on the Dutch exchange that serve as Europe's benchmark.
Oil Refinery
24-11-2022

BP Says Rotterdam Refinery Remains Shut In Dispute Over Pay
BP said on Tuesday the planned restart of its large refinery in Rotterdam was on hold after unions said they would not help with the return to service due to a dispute over pay.
LNG
23-11-2022

Sempra Strikes LNG Supply Deal With ConocoPhillips
Sempra Energy said on Tuesday that ConocoPhillips will buy five million tonnes per annum of liquefied natural gas (LNG) from Phase 1 of the Port Arthur LNG project under development in Jefferson County, Texas.
United Kingdom
23-11-2022

UK to Spend £20BN Closing off 2,000 Oil and Gas Wells in Next Decade, Report Says
Offshore Energies UK estimates 200 wells will be decommissioned every year at a cost of £7.8m each
Oil Refinery
23-11-2022

Strike at BP’s Largest European Refinery Could Deepen Diesel Crisis
Refinery workers at BP’s biggest refinery in Europe are on a partial strike over demands for higher wages and will not cooperate in efforts to restart the Rotterdam refinery, which is currently offline.
OPEC
23-11-2022

UAE Denies It Is Engaging in Discussion With Other OPEC+ Members to Change Their Latest Agreement - Minister
United Arab Emirates' energy minister said on Monday that the Gulf state denied that it is engaging in any discussion with other OPEC+ members to change their latest agreement.
Brazil
23-11-2022

Brazil’s Incoming Government to Revoke Bolsonaro’s Biodiesel Mandate Decision
Brazil's incoming government will look to revoke a decision to keep the mandatory blend of biodiesel in diesel at 10% until March 31, 2023, a member of the transition team for President-elect Luiz Inacio Lula da Silva said on Tuesday.
Oil Price
22-11-2022

Oil Prices Reverse Course After Saudi Arabia Denies Output Hike Rumors
Saudi Arabian officials are denying the news that OPEC is considering a 500,000 bpd output hike.
Crude Oil
22-11-2022

Colombia Reportedly Reconsidering Its Idea to Halt on New Oil and Gas Projects
Colombia could reconsider a campaign pledge from its newly-elected leftist President Gustavo Petro to stop new oil and gas exploration licensing in the country, according to Finance Minister José Antonio Ocampo.
LNG
22-11-2022

Floating LNG Projects Boom as Europe Races to Stock up on Gas
Floating LNG projects are booming in both gas-importing countries and gas-producing countries.
Crude Oil
21-11-2022

Europe Rushes to Fill Up on Russian Diesel Before Ban Begins
European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited.
LNG
21-11-2022

Germany’s LNG Terminals to Cost More Than Double Earlier Estimate
The purchase and maintenance of floating liquefied natural gas (LNG) terminals to help Germany secure energy supplies and diversify away from Russian gas, will cost more than 3 billion euros ($3.10 billion) more than planned.
Natural Gas
21-11-2022

North America’s Natural Gas Can Help Mitigate Energy Crisis
In the effort towards decarbonisation, North America could be a key player in providing affordable natural gas, addressing energy security issues.
LNG
20-11-2022

U.S. Gas Prices Jump as Freeport LNG Targets Full Restart in March 2023
U.S. natural gas prices surged on the news that one of the largest U.S. LNG export terminals is targeting a complete operational restart by March 2023.
Natural Gas
20-11-2022

Germans Face More Power and Gas Price Hikes in January - Portal
Many German households face another 50%-plus hike in power and gas supplies in January due to the lag in suppliers passing on higher wholesale market prices and rising grid fees, prices portal Verivox said on Friday.
Crude Oil
19-11-2022

European Refiners Oversupplied as Oil Shortage Fears Subside
European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet to materialise.
LNG
18-11-2022

LNG Exports Drive Expansion of North American Natural Gas Market, Adding 29 Bcfd of Production by 2033
LNG exports nearly triple over next decade, Inflation Reduction Act to boost gas demand in the long term.
United States
18-11-2022

NERC Warns of Tight Generation Resources, Fuel Supply Issues This Winter
Power shortfalls could be rife over the next three months across a large portion of the North American bulk power system (BPS), particularly during extreme and prolonged cold conditions, the North American Electric Reliability Corp. (NERC) has warned.
Crude Oil
17-11-2022

Iraq Targets 7-Mln-Bpd Oil Output Capacity in 2027 – Somo Head
Iraq plans to increase its oil production capacity to around 7 million barrels per day in 2027, head of state-owned oil marketer SOMO Alaa Alyasri told Reuters on Wednesday.
Crude Oil
17-11-2022

India Raises Windfall Tax on Crude Oil
India has raised a windfall tax on crude oil to 10,200 Indian rupees ($125.22) per tonne from 9,500 rupees per tonne, a government order said on Wednesday.
Crude Oil
16-11-2022

Russian Oil Output to Fall 1.4 Mln Bpd Next Year as EU Ban Takes Effect - IEA
Russian oil output is set to fall 1.4 million barrels per day(bpd) next year after a European Union ban on seaborne exports of Russian crude comes into effect, the International Energy Agency said on Tuesday.
Gas Turbine
16-11-2022

Germany’s Gas Turbine Capacity Expansion Moving Too Slow
Germany is behind in its plan to expand its gas turbine capacity to 30 GW by 2030—the amount needed to stabilize its electricity distribution networks, according to General Electric.
LNG
16-11-2022

First Liquefied Natural Gas Exported From Mozambique
British energy giant bp is buying 100% of the output from the Coral Sul Floating LNG facility.
Natural Gas
16-11-2022

Vietnam Leads Gas Expansion Plans in Southeast Asia: Report
A total of 56GW is either in pre-construction or construction stages.
Natural Gas
15-11-2022

‘Vaccination-Style’ Intervention Needed to Solve Energy Crisis, UK Energy Boss Says
The average U.K. household faces paying a £2,500 ($2,900) annual bill for the next two years, up from £1,400 in October 2021.

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