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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
27-01-2022

Ice Brent Crude at $90/bl
Front-month Ice Brent crude futures prices topped $90/bl today for the first time since October 2014.
LNG
27-01-2022

Thailand Imports more LNG in December
Thailand's December 2021 LNG imports rose on the month and on the year, likely as domestic gas production continued to fall.
Crude Oil
27-01-2022

U.S. Releases Another 13.4 Million Barrels From SPR
The U.S. administration has approved the release of another 13.4 million barrels of crude from the strategic petroleum reserve in a move first announced last November by the White House as an attempt to ease upward pressure on fuel prices.
Crude Oil
26-01-2022

Peru Warns Repsol Over Oil Spill
A suspension of Repsol's refinery is among the punitive measures that Peru is considering in response to a damaging oil spill last week.
Natural Gas
26-01-2022

Saudi Arabia’s Gas Production Hits Record-High
Saudi Arabia has grown its natural gas production by 30 percent in a decade to a record 11 billion cubic feet per day (Bcf/d) in 2020
Oil&Gas Drilling
26-01-2022

Shell Makes Significant Oil & Gas Discovery Offshore Namibia
Shell has made a significant oil and gas discovery offshore Namibia, one of the expected hotspots for exploration this year.
Oil Price
25-01-2022

Japan to Subsidize Oil Wholesalers for 1st Time to Curb Fuel Price
Japan's industry minister Koichi Hagiuda said Tuesday the government will implement for the first time its oil industry subsidy program, which is aimed at curbing petroleum fuel prices starting later this week following a recent surge in oil prices.
Oil Refinery
25-01-2022

Japan’s Eneos to Close Wakayama Oil Refinery on Falling Demand
Japan’s Eneos Holdings Inc. will close one of its oil refineries next year due to falling domestic demand and the shift away from fossil fuels.
Natural Gas
25-01-2022

Texas Natural Gas Production Falls as Freezing Weather Sets in
Texas natural gas production dropped for the second time this month because of freezing temperatures settling over the state.
Nigeria
25-01-2022

Nigeria Oil Refinery About to Come Online Later This Year
AfDB President Dr Akinwumi Adesina described the Dangote oil refinery and petrochemical plant project in Nigeria as a game-changing initiative that will spur the continent’s development and deepen regional integration.
Indonesia
24-01-2022

Kuwait's Kufpec Discovers Gas, Condensate in Indonesia
Kufpec, the foreign upstream arm of Kuwait's state-owned KPC, today announced a gas and condensate discovery in the Anambas block in the Natuna Sea north of Indonesia, marking the company's first ever offshore find.
Market Analysis
24-01-2022

EIA Forecasts US Fossil Fuel Production to Reach New Highs in 2023
After declining in 2020, the combined production of US fossil fuels increased by 2% in 2021 to 77.14 quadrillion British thermal units.
Crude Oil
24-01-2022

OPEC’s Shrinking Capacity Could Send Oil Above $100
The oil market is quickly realizing that many OPEC producers may not have the capacity to boost output much further.
Crude Oil
24-01-2022

Russia’s Oil Output Could Peak In 2023
There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow.
Crude Oil
24-01-2022

China's Crude Oil Output Rises in 2021
China's crude oil output reached nearly 199 million tonnes last year, up 2.4 percent from the previous year, official data showed.
Oil & Gas Trade
22-01-2022

Chinese LNG Reload Heads to Europe
Europe is poised to receive a cargo reloaded at a Chinese LNG import terminal, as the region remains the global premium market for LNG and weaker demand leads Chinese firms to resell cargoes.
Natural Gas
21-01-2022

China Is Reselling LNG Cargoes, Driving Gas Prices Lower
Major Chinese LNG importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to see it through the winter and easing concerns about the global gas crunch.
Crude Oil
21-01-2022

Norway Recorded Higher Oil & Gas Output in December
Norway’s oil and gas production increased in December 2021 when compared to the previous month but it was slightly below predictions made by the Norwegian Petroleum Directorate.
United States
21-01-2022

US Refining Expects Resurgent 2022
US refiners are set for a shift back toward pre-pandemic profits in 2022, with many expecting Covid-19 restrictions to taper amid rebounding demand for products this year.
Russian Federation
20-01-2022

Russia’s February gas-transit plan leaves Europe in the lurch
Russia is keeping Europe’s natural gas market on edge, with no relief in sight from the country’s preliminary supply plans for next month.
LNG
20-01-2022

Ghana Plans to Become West Africa’s Gas Hub with Import Terminal
Ghana’s state-owned oil company is progressing with plans to sell liquefied natural gas throughout West Africa after shipments of the fuel begin to flow to an import terminal this year.
Crude Oil
20-01-2022

Iraq-Turkey Pipeline Resumes Oil Flows After Explosion
The 450,000-barrels-per-day Kirkuk-Ceyhan pipeline that carries crude from northern Iraq to Turkey’s Ceyhan port for export resumed oil flows on Wednesday after an explosion and a fire interrupted operations on Tuesday
Natural Gas
20-01-2022

Brazil's PetroReconcavo Gas Output Doubles in December
Brazilian onshore natural gas producer PetroReconcavo more than doubled production in December from the prior month on newly acquired operations in the Miranga and Remanso fields.
Oil Refinery
20-01-2022

IEA Revises up 2022 Global Refinery Runs Forecast
The IEA has revised up its 2022 forecast for global refinery runs to within 400,000 b/d of pre-Covid levels.
Oil & Gas Trade
19-01-2022

Algeria-Morocco Dispute Hits LPG Trade
A diplomatic breakdown between Algeria and Morocco has disrupted traditional LPG trading flows, with the former looking east to sell and the latter looking west to buy.

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