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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Supply
09-03-2022

With Oil Market in Turmoil, Energy Execs Urge more Output, Security
Oil-and-gas leaders advocated at an industry conference on Monday for increased security of energy supply and more fossil fuel production, while the U.S. climate envoy urged development of renewable energy as oil prices soared following Russia’s invasion
09-03-2022

Whiting Petroleum and Oasis Petroleum Sign $6bn Merger Deal
US-based shale producer Whiting Petroleum signed a merger deal with Oasis Petroleum to create a new enterprise, valued at approximately $6bn.
Oil Price
09-03-2022

Crude Oil Jumps as much as 7% on U.S. Ban of Russian Imports, but Trades off Session Highs
Oil prices jumped to their highs of the session Tuesday as President Joe Biden announced a ban on Russian fossil imports including oil in response to the country’s invasion of Ukraine.
Oil Price
09-03-2022

Ukraine Speeds Global Rush to Self-Sufficiency
Brexit, trade wars between the United States and China, and Covid-19 have dealt successive knocks to globalisation, and the war in Ukraine is doing fresh damage.
Natural Gas
09-03-2022

Fixing Wind, Solar Permitting in EU to Help Reduce Russian Gas Imports
Speeding up wind and solar permitting, diversifying gas supplies and making the most of existing low-carbon energy sources are important steps to reduce the EU’s imports of Russian gas by more than a third within a year.
Natural Gas
09-03-2022

Chevron CEO Announces Israel Gas Pipeline Could Supply Europe
Europe’s natural gas shortage has renewed talk of the EastMed pipeline – a Mediterranean Sea pipeline that could carry gas from Israel to European customers.
Natural Gas
09-03-2022

Shell Sorry for Buying Russian Crude
Oil major Shell on Tuesday apologised for buying a cargo of Russian crude oil last week, a decision which was made with the security of supplies in mind and guided by the need to disentangle society from Russian energy.
Oil Price
09-03-2022

Petrol, Diesel Price Increase on Wait-and-Watch Mode; CNG Rates Hiked
CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been put on wait-and-watch mode for more clarity on global oil prices.
Oil Price
09-03-2022

Goldman Sachs ups 2022 Brent Crude Oil Spot Price Forecast to $135/bbl
Goldman Sachs Research has raised its 2022 & 2023 Brent spot price forecast to $135/bbl & $115/bbl, up from $98 and $105/bbl respectively amid geopolitical tensions in Europe between Russia and Ukraine.
Oil Price
09-03-2022

Oil Companies to Determine Fuel Prices: Hardeep Singh Puri
Amid the Russia-Ukraine war, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said oil companies will determine the fuel prices, even as he said there will be no shortage of crude oil in the country.
Oil Price
09-03-2022

No Need to Panic. Oil Prices Could Drop to $100 a Barrel in Two Weeks
The current oil surge wouldn’t last and prices are likely to drop to $100 per barrel within two weeks, Bharat Petroleum Corp (BPCL) chairman has said
Natural Gas
09-03-2022

How the EU Plans to Cut Dependence on Russian Gas by Two-Thirds This Year
The European Union announced Tuesday it will reduce its purchases of Russian gas by two-thirds before the end of the year, in response to the country’s invasion of Ukraine.
Crude Oil
09-03-2022

U.S. Sanctions on Russian Oil to Leave More Cargoes at Sea with No Buyers
The U.S. ban on Russian oil and gas imports is likely to leave more cargoes at sea with no buyers.
Gas Turbine
08-03-2022

GE Turbines Will Power New 2-GW Gas-Fired Plant in China
A new 2-GW natural gas-fired power plant in China, being built to support the coming retirement of a large regional coal-fired complex, will feature three GE 9HA.01 gas turbines.
Natural Gas
08-03-2022

Russian Gas Continues to Flow into Europe on Main Pipeline Routes
Russian gas delivered through the Yamal-Europe pipeline via Poland was flowing westward into Germany on Tuesday morning, and flows into Slovakia via Ukraine remained at recent high levels, pipeline operator data showed.
Natural Gas
08-03-2022

Germany Says It Won't Stop Buying Russian Energy Despite Moscow’s War in Ukraine
Germany will continue to buy natural gas, oil and coal from Russia despite Vladimir Putin’s aggression against Ukraine, the government in Berlin said Monday.
Oil Price
08-03-2022

Petrol, Diesel Price Hikes may Restart from Next Week
Petrol and diesel price hikes are likely to resume after state elections get over next week. This is to bridge the Rs 9 a litre gap created by international oil prices soaring past USD 100 a barrel.
Oil Price
08-03-2022

Russia Warns West of $300 per Barrel Oil, Cuts in EU Gas Supply
Western countries could face oil prices of over $300 per barrel and the possible closure of the main Russia-Germany gas pipeline if governments follow through on threats to cut energy supplies from Russia
Oil Price
08-03-2022

Fuel Prices on Saipan up 20 Cents
FUEL prices on Saipan went up by 20 cents on Friday and Saturday as the Russian invasion of Ukraine continues to spook global markets.
Crude Oil
08-03-2022

Shell to Buy Russian Crude and Use Profits to Help Ukraine
Shell, Europe’s largest oil company, said Saturday that it would probably continue to buy Russian crude oil to feed into its refineries and supply customers with gasoline and diesel but would donate any profits to a fund
Oil Shale
08-03-2022

U.S. Shale Producers Oasis, Whiting to Merge in $6 Bln Deal
U.S. shale oil and gas producers Oasis Petroleum Inc OAS.O and Whiting Petroleum Corp WLL.N will merge in a $6 billion deal, the companies said on Monday.
Oil Shale
08-03-2022

OPEC Meet with U.S. Shale Executives at U.S. Energy Conference as Oil Prices Skyrocket
Officials from the Organization of the Petroleum Exporting Countries on Monday met with executives of several top U.S. shale oil companies at a top U.S. energy conference as energy prices soared over supply concerns.
Oil Price
08-03-2022

Want Lower Oil Prices? First You Need Higher Ones
There is only one way oil prices are going to fall – by first rising even more. That is the growing consensus among Wall Street analysts, who say there is not enough supply to impede crude prices from their relentless surge.
Oil Price
08-03-2022

Vitol’s Muller Says High Oil Prices may Lead to Demand Destruction
High oil prices are likely to lead to demand destruction amid a scarcity of crude and little spare capacity globally as the disruption to energy supplies from Russia
Oil & Gas Supply
08-03-2022

Alberta Oil can be a Solution to U.S. Energy Supply Crunch
Alberta, Canada’s main oil-producing region, can help alleviate the global oil supply crunch caused by energy disruptions, Alberta energy minister, Sonya Savage, said on Sunday.

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