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Oil & Gas

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

Joe Biden
11-03-2022

$4 Gasoline Could Lead to Demand Destruction in the U.S.
More than half of all Americans said they would change their driving habits or lifestyle if the cost of gasoline rose to $4 per gallon, new AAA survey data shows.
Crude Oil
11-03-2022

Canada Looking at Boosting Oil Pipeline Flows to U.S., Minister Says
Canada is studying ways to increase pipeline utilization to boost crude exports as Europe seeks to reduce its dependence on Russian oil, the country's natural resources minister said on Thursday.
Crude Oil
11-03-2022

Biden Walks Tightrope Between Need for Oil and Push to Go Green
With the war in Ukraine causing oil prices to soar, US President Joe Biden's administration is treading a fine line between staying true to its commitment to clean energy, while seeking to ramp up petroleum production.
Crude Oil
11-03-2022

Ukraine Crisis Provides 'Renewed Focus' on Gulf Hydrocarbons
Saudi Arabia, Qatar and UAE are all set to capitalise on the realignment of global energy and Europe's diversification of Russian energy supplies.
Crude Oil
11-03-2022

Norway's Equinor Halts Trading Russian Oil
Norwegian state oil company Equinor has stopped trading Russian oil as it winds down operations there in the wake of Moscow's invasion of Ukraine, Chief Executive Anders Opedal said on Thursday.
Oil Price
11-03-2022

Oil Extends Losses; Russia to Fulfil Supply Contracts
Oil extends losses by nearly 2% after 13% plunge on Wednesday. Russia pledges to fulfil contractual obligations
Oil Price
10-03-2022

Oil Futures: Brent Rebounds amid OPEC+ Output Uncertainty, Above $ 115/b
Crude oil futures in early European trading hours Thursday were trending higher as markets stabilized after the previous session's huge price retreat, which came after several measures to make up for lost Russian output were suggested.
Oil Price
10-03-2022

EIA Hikes Oil Price Forecast To $105 This Year
The Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook (STEO), significantly raising its February forecast of $82.87 after Russia’s war in Ukraine tightened further an already tight oil market.
Oil Exploration
10-03-2022

PM of Barbados Defends Country’s Oil and Gas Exploration
Prime Minister Mia Mottley has defended Barbados’ plans to resume fossil fuel exploration off its coast, saying that developing nations deserved “equity” and needed the revenue from oil and gas sales to finance the shift to clean energy.
Oil Exploration
10-03-2022

ONGC Conducts Seismic Surveys in Tripura to Identify Oil Reserves
ONGC started drilling in Tripura back in 1962. The national oil and gas explorer was awarded acreages at Central Baramura, Aramura Bulge, Tichna and Khubal areas of the state.
Natural Gas
10-03-2022

U.S. Natural Gas Little Changed as Rising Demand Offsets Global Price Drop
U.S. natural gas futures were little changed on Wednesday as forecasts for more U.S. heating demand next week slowed the U.S. market following a massive drop in global gas and oil prices.
Oil & Gas Supply
10-03-2022

European Oil and Gas Majors’ Exposure to Russia Is Limited
European oil and gas major’s planned exit from Russia or curtailed operations in the country will have a limited impact on their credit metrics, Fitch Ratings says.
Oil & Gas Supply
10-03-2022

OPEC Chief Warns of Global Oil Shortage Due to Sanctions on Russia
The head of the Organization of Petroleum Exporting Countries (OPEC) warned Tuesday that the world cannot replace Russia's share of oil exports, calling for energy depoliticization.
Crude Oil
10-03-2022

Tullow Oil Sees Ghana Offshore Fields Production at 150,000 Boe/d by 2025
West Africa-focused Tullow Oil's chief executive TLW.L said on Wednesday its Jubilee offshore oilfield in Ghana could produce 100,000 barrels of oil equivalent per day (boe/d) and the TEN field 50,000 boe/d by 2025 under current spending plans.
Oil Price
10-03-2022

UAE, Saudi Arabia Decline Talks with Biden amid Oil Price Surge
Crown Prince Mohammed bin Salman of Saudi Arabia and Sheikh Mohammed bin Zayed declined requests for direct communication with President Biden in recent weeks.
Oil Price
10-03-2022

Sinopec Keeps Refinery Operations 'Fairly High' to Ensure Fuel Supply
China's Sinopec is running its refineries at "fairly high" operational rates, the firm said, seeking to ensure steady fuel supply in the country amid tight global crude and products flows in the wake of Russia's invasion of Ukraine.
Crude Oil
10-03-2022

India's February Fuel Demand Rises 5.4% Year-on-Year
India's fuel demand rose 5.4% in February, compared with the same month last year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Oil Price
10-03-2022

Price Hikes Won't Hit Petrol Demand
The domestic retail rates of petrol and diesel have remained unaltered since the beginning of November. Oil marketing companies are widely expected to raise prices now since the state elections, a key hurdle to price revision, have concluded.
Oil Price
10-03-2022

Asian Shares Surge as Russia-Ukraine Talks Buoy Sentiment
Asian shares surged on Thursday, tracking Wall Street's gains as planned diplomatic talks between Russia and Ukraine buoyed sentiment, although analysts warned the rally could be susceptible to a sharp reversal as risks remain.
Natural Gas
10-03-2022

Gas Prices Reach New High in N.S., Costs Skyrocket in Atlantic Canada
The price of gas has reached a new high in Nova Scotia for the third time in a week, rising another 10.9 cents overnight.
Crude Oil
10-03-2022

India's Fuel Demand Rises 5.4% in February
India's fuel demand rose 5.4% in February, compared with the same month last year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Natural Gas
10-03-2022

Demand for Natural Gas on Australia's East Coast Falls
The uptake in renewable energy could see gas demand from Australia’s East Coast decline by around 60% by 2050, depending on the pace of the energy transition, said advisory firm Wood Makenzie (Woodmac) this week.
Crude Oil
10-03-2022

US Shale Investors Worry over Impact of Output Jump
US shale oil investors are concerned that quickly ramping up production to capture soaring crude prices could upset confidence in the steady growth business model.
Crude Oil
10-03-2022

EU Leaders Tackle Escape Route From Russian Fossil Fuels
European Union leaders will tackle ways to wean themselves off Russian fossil fuels on Thursday and debate how quickly to ditch their key supplier.
LNG
09-03-2022

Germany to Build Its Own LNG Terminal
European Union’s sanctions may be pounding hard on the Russian economy, its energy reliance cannot be dismissed. This incidentally also explains the sanctions that exempt oil and gas. However, Germany is taking steps to change its course.

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