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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Price
28-02-2022

West Still Reluctant to Target Russian Energy on Economy Fears
Global governments remain reluctant for now to sanction Russian energy, seeking to insulate the world economy from a greater shock even as they tighten the financial grip on the country following its invasion of Ukraine.While oil last week briefly passed
Crude Oil
28-02-2022

White House Vows to Avoid Future Sanctions on Russian Crude Oil
The Biden administration won’t sanction Russian crude oil because that would harm U.S. consumers and not Vladimir Putin, a U.S. State Department official said Friday.
LNG
28-02-2022

Germany Plans to Become Independent from Russian Oil
Spurred by its growing domestic demand for electricity parallel to its increasing population and rapid urbanization, imports of liquefied natural gas (LNG) by China will climb 30 per cent to a record high next year.
Oil & Gas Trade
28-02-2022

BP to Exit its 20% Stake in Russian Oil Giant Rosneft
BP Plc will exit its shareholding in Russia’s largest oil company Rosneft PJSC, potentially taking a financial hit of as much as $25 billion.
Crude Oil
28-02-2022

Crude Rallies, Rouble Plunges to Record Low as Ukraine Risks Rise
Crude oil jumped while the rouble plunged nearly 30% to a fresh record low on Monday after Western nations imposed new sanctions on Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system.
Natural Gas
28-02-2022

Saudi Arabia Announces Discovery of Five Natural Gas Fields
Saudi Arabia’s state oil company discovered five new natural gas fields across the kingdom that can produce over 100 million cubic feet per day in total, as the oil-rich kingdom looks to boost production of the fuel.
Oil & Gas Supply
28-02-2022

Algeria Say Ready to Supply EU with Extra Gas Amid Ukraine Crisis
Algeria’s state energy firm is ready to supply Europe with more gas in view of a possible decline due to the Russian invasion of Ukraine, its CEO said Sunday.
Natural Gas
28-02-2022

Metro Vancouver Gas Prices Set Another Record
Gas prices hit another record high in Metro Vancouver on Saturday, a development analysts have attributed to the sanctions placed on Russia in retaliation for its invasion of Ukraine.
Natural Gas
28-02-2022

Germany Plan to Construct Two Liquefied Natural Gas Terminals
Germany will construct two liquefied natural gas (LNG) terminals, German Chancellor Olaf Scholz said on Sunday, pledging to do more to protect Germany’s energy supply and as it looks to reduce its Russian gas dependence.
LNG
28-02-2022

U.S. Gas Advances as Russia Sanctions May Boost Demand for LNG
U.S. natural gas futures advanced on the prospect of higher overseas demand after Western nations imposed tighter sanctions to isolate Russia, one of the world’s top energy suppliers.
Nord Stream 2
28-02-2022

Germany's E.ON Rejects Halting Nord Stream 1 Pipeline
E.ON, Europe's largest operator of energy networks, rejected demands to shut down the Nord Stream 1 gas pipeline as part of sanctions against Russia for invading Ukraine, the company told Rheinische Post newspaper on Monday.
Oil & Gas Supply
28-02-2022

IOC to Ramp up LPG Output in NE by 53% to 8 Crore Cylinders by 2030
The oil major plans to add three new plants in the Northeast.
Natural Gas
28-02-2022

Saudi Arabia Discovers Natural Gas in Different Locations
Saudi Aramco, the world’s largest oil-exporting company, has discovered a number of new natural gas fields in different regions of the country, according to the state-run Saudi Press Agency (SPA).
Crude Oil
28-02-2022

India may Draw on Oil Reserves to Soften Prices as Ukraine's Invasion Disrupts Global Supplies
India may tap its emergency oil stockpile to cool off prices that have surged on concerns that Russia's invasion of Ukraine will disrupt global supplies.
LNG
28-02-2022

Nuclear, Coal, LNG: ‘No Taboos’ in Germany’s Energy About-Face
Germany signalled a U-turn in key energy policies on Sunday, floating the possibility of extending the life-spans of coal and even nuclear plants to cut dependency on Russian gas, part of a broad political rethink following Moscow’s invasion of Ukraine.
Oil Price
28-02-2022

Oil Surges on Russia Nuclear Alert as Sanctions Intensify
Oil prices jumped more than $7 in early trade on Monday after Russian President Vladimir Putin put the country's nuclear deterrent on high alert in the face of Western nations and Japan stepping up sanctions against Russian banks.
27-02-2022

OPEC+ Trims Forecast for 2022 Oil Market Surplus in Latest Data
OPEC+ revised down its forecast for the 2022 oil market surplus by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday.
Oil Price
27-02-2022

Oil Prices to Remain Volatile as Russia-Ukraine Crisis Intensifies
Oil prices receded to below $100 a barrel at the end of trading on Friday after breaching the psychological level to reach prices not seen since 2014.
Natural Gas
26-02-2022

Germany Halts Gas Pipeline, Predicts Russia Will Lose Other Energy Customers over Ukraine
Germany’s vice chancellor said Thursday that Russia’s attack on Ukraine is “completely illogical” and will backfire, causing western nations to stop buying Russian coal, oil and gas.
United Kingdom
26-02-2022

Shell Faces U.K. Showdown Over Impact of ‘Cataclysmic’ Oil Spill
A group of Nigerians want a trial against Royal Dutch Shell Plc in the U.K. for what they allege was a “cataclysmic” oil spill that wreaked havoc on their communities years later.
Oil Exploration
25-02-2022

Namibia: TotalEnergies Makes Significant Discovery In Offshore Block 2913B
TotalEnergies said Thursday it has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia.
Oil Exploration
25-02-2022

Second Oil Discovery “on Trend” to Pancontinental Energy’s (ASX:PCL) PEL 87 License Area
TotalEnergies makes an oil discovery “on trend” from Pancontinental Energy’s (PCL) 75 per cent owned PEL 87 area in offshore Namibia
Oil & Gas Trade
25-02-2022

Sri Lanka Needs US$1,285mn for Three Months of Oil, US$500mn from India: Minister
Sri Lanka needs 1,285 million US dollar for oil imports in the next three months, of which 500 million will come from an Indian credit line, Energy Minister Udaya Gammanpila said, as the country grappled with forex shortages and global prices went up.
Crude Oil
25-02-2022

After Shell, TotalEnergies Also Strikes Oil in Namibia Well with ‘Very Promising Results’
Following Shell’s recent oil discovery in Namibia, French oil major TotalEnergies has also made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia.
LNG
25-02-2022

Germany to Create Strategic Coal and Gas Reserves
As Russia launched its attack on Ukraine, Europeans relived scenes from another time. Germany will now enact laws to ensure strategic energy reserves to cut down on German energy dependence on Russia.

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