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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Price
02-03-2022

Oil Prices Surge More Than 7% to Highest Since 2014
Members of the International Energy Agency (IEA) agreed to release 60 million barrels of crude from their reserves to try to quell the sharp increase in prices that pushed major benchmarks past US$100 (RM419) a barrel.
Crude Oil
01-03-2022

Oil Production from Northeast India Expected at 6.85 mt in 4 years: HS Puri
The petroleum sector to play a crucial role in the North East region’s industrial growth.
Crude Oil
01-03-2022

U.S. December Oil Demand Hits Highest Since Before Pandemic -EIA
U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Monday, with product supplied nearing 21 million barrels per day (bpd).
01-03-2022

GECF Launches Global Gas Outlook 2050
The Gas Exporting Countries Forum (GECF), the global platform of the leading gas producing countries, today publicly unveiled its annual GECF Global Gas Outlook 2050 (Outlook), a comprehensive report on the status of natural gas up to 2050.
Crude Oil
01-03-2022

Russian Banks' Exclusion from SWIFT to Hurt Indian Oil Companies
Sanctions and exclusion of Russian lenders from the SWIFT system, the most important international payment network, will hurt Indian state-run firms' ability to repatriate dividends from Russian oilfields and block possibilities of investments in
Natural Gas
01-03-2022

World Bank: There Will Be Alternatives to Russian Gas in Five Years
World Bank President David Malpass: There will be alternatives to Russian natural gas supply in the five-year horizon.
LNG
01-03-2022

Germany Targets 100% Renewable Power Generation by 2035
Germany will target to have all its electricity provided by renewable energy sources by 2035.
Oil Price
01-03-2022

OPEC Chief: Oil Industry “Under Siege”
OPEC Secretary General Mohammad Barkindo: oil industry is under siege by climate campaigners.
Oil Price
01-03-2022

Russia’s SWIFT Ban Could Send Shockwaves Through Oil and Commodity Markets
Russia’s decision to invade Ukraine was originally met with a relatively tepid response from world leaders, but now sanctions are intensifying key Russian banks are banned from SWIFT.
Crude Oil
01-03-2022

Can the U.S. Replace Russian Oil Imports?
Following Russia’s invasion of Ukraine, one of the issues being discussed a lot in the West is what an ongoing military conflict may do to oil prices.
Crude Oil
01-03-2022

Rising Crude Oil Prices Great Opportunity for Nigeria
President Muhammadu Buhari says rising crude oil prices present a great opportunity for Nigeria, especially with the passage of the Petroleum Industry Act (PIA).
Oil & Gas Supply
01-03-2022

Carve-out in U.S. Sanctions will Still let Russia Profit from Oil, Gas
There is a glaring carve-out in President Joe Biden’s sanctions against Russia: Oil and natural gas from that country will continue to flow freely to the rest of the world and money will keep flowing into Russia.
OPEC
01-03-2022

Saudi Crown Prince Says Kingdom Still Committed to OPEC+ Oil Agreement with Russia
Saudi Arabia remains committed to OPEC+ agreement, Crown Prince Mohammed bin Salman told French President Emmanuel Macron Feb. 27, in an endorsement for the bloc’s alliance with Russia amid that nation’s invasion of Ukraine.
Energy Investment
01-03-2022

Norway’s Equinor will End Investments in Russia, Exit Joint Ventures
Norway’s Equinor said Feb. 28 that it has decided to stop new investments in Russia and start exiting from joint ventures because of Russia’s invasion of Ukraine, according to a statement issued by the company.
Oil Price
01-03-2022

India Ready to Tap National Oil Stocks Further to Tackle Soaring Prices
India is prepared to release additional crude from its national stocks in support of efforts by other major oil importers to mitigate surging global prices, the government said on Saturday.
Oil Price
01-03-2022

Can African Oil Producers Take Advantage of Increasing Oil Prices?
Russia's invasion of Ukraine has pushed the price of oil to over $100 per barrel. But, it's also opened an opportunity for African oil producers like Nigeria, Angola, Libya, and Algeria to cash in with more crude oil exports.
Oil Price
01-03-2022

Oil Could Jump Back Above $100 as Traders Assess Russia SWIFT Ban
A decision by Western allies on Saturday to block certain Russian banks from the SWIFT payments system is likely to lift oil prices well above $100 a barrel as risks with trading Russian oil spike, analysts say.
LNG
01-03-2022

Shell to Exit Russia After Ukraine Invasion, Joining BP
Shell will exit all its Russian operations, including a major liquefied natural gas plant, it said on Monday, becoming the latest major Western energy company to quit the oil-rich country following Moscow’s invasion of Ukraine.
LNG
28-02-2022

Japan's JERA Does Not Currently See SWIFT Ban Impacting Sakhalin 2 LNG Imports
Japan's largest power generation company JERA does not currently see the latest financial sanctions on Russia, including barring designated Russian banks from the international payment system SWIFT, impacting its LNG imports from the Sakhalin 2 project.
Oil & Gas Supply
28-02-2022

Repairs and Protests Halt 480,000 Bpd of Iraqi Oil Output
Iraq has halted over a tenth of its oil output due to maintenance and protests, in a further blow to the already tight global supply at a time of rising demand and soaring prices.Iraq has temporarily shut down its southern 400,000 barrel a day West Qurna
Natural Gas
28-02-2022

How Europe Can Boost Energy Security and Reduce Its Reliance on Russian Gas
January is the cruellest month when it comes to European gas demand. It is now the end of February and the continent has almost a year to bolster its strategic energy autonomy as the Russian attack on Ukraine continues.
LNG
28-02-2022

Asian LNG Prices Surge on Ukraine Invasion, NS2 Halt
Asian spot liquefied natural gas (LNG) prices surged more than 50% this week as they tracked a jump in European gas prices after Russia’s invasion of Ukraine.
Oil & Gas Supply
28-02-2022

Nigeria Fuel Disruption Continues
As the recent su standard import of fuel continues to affect fuel distribution in Nigeria, the Nigerian National Petroleum Company (NNPC) Limited has released details of how it distributed a total of 387.59 million litres of Premium Motor Spirit (PMS)
Oil & Gas Trade
28-02-2022

Vietnam: 25%Fuel Shortage To Be imported
the Vietnam Oil and Gas Group to give detailed notice of the supply situation as soon as possible so that petroleum companies can proactively plan to import to make up for the shortfall.
Oil & Gas Supply
28-02-2022

Could Russia’s Invasion Of Ukraine Spark Another Arab Spring?
Russia and Ukraine are major exporters of food and agricultural products, and if these products are disrupted then there could be significant unrest in the MENA region.

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