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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

United Kingdom
16-12-2021

AstraZeneca to Power UK Sites with Biomethane in Decarbonisation Drive
British-Swedish multinational pharmaceutical firm AstraZeneca has partnered with Future Biogas to power its UK sites with low-carbon energy as part of the company’s decarbonisation drive.
LNG
16-12-2021

Dutch Bio-LNG Project Secures EU Funding
A liquefied biogas production project by Dutch firms Titan LNG, Attero and Nordsol has been awarded €4.3mn in funding under the EU's 'Fit for 55' package.
Oil & Gas Trade
16-12-2021

China’s Oil Imports Are Set To Slow In Q1
Chinese imports in March 2022 are set to be around 10.7 million barrels per day (bpd).
Natural Gas
15-12-2021

Brazil's Manati Field Gas Production Restart Awaits Pipeline Repairs
Brazilian Petrobras will take a week to make repairs to an offshore gas-export pipeline and restart production at the Manati Field, but the disruption won't affect gas supplies in the country's northeast, according to the state-led company.
Oil Pipeline
15-12-2021

Key Ecuador Crude Oil Pipeline Ruptures While Halted by Erosion
Erosion in the Amazon region has ruptured Ecuador's state-owned pipeline SOTE, the same problem that led to its shutdown last week, the Energy Ministry said on Tuesday.
Crude Oil
15-12-2021

Global Oil Supply Set to Outpace Demand Amid Higher Production, IEA Says
The surge in new Covid cases is expected to 'temporarily slow' but not upend the recovery in demand
Oil Price
14-12-2021

Iran Bases Its 2022 Budget on $60 oil
The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year.
Oil Price
14-12-2021

Saudis Foresee Oil Price Spikes from Energy Transition Efforts
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices.
Crude Oil
14-12-2021

OPEC+ Undershoots Oil Production Target Again
The OPEC+ group delivered the 400,000-bpd production increase in November, but it was still more than half a million barrels per day short of its overall oil production quota last month, the latest Argus survey showed on Friday.
Market Analysis
14-12-2021

Energy Supply Will Catch Up With Demand In 2022
Oil and gas supply will grow faster in 2022 than it did in 2021 to the point of catching up and even surpassing energy demand growth.
OPEC
14-12-2021

Opec Revises Higher Call on Its Own Crude in 2021-22
Opec has revised higher the 2021 and 2022 forecast call on its own members crude as it increased oil demand expectations for both years, saying it expects the Covid-19 Omicron variant to have mild and short-lived effects.
Crude Oil
14-12-2021

Opec Maintains 2022 Demand Outlook and Expects Mild Impact from Omicron Variant
The group maintained its oil demand forecast for next year at 4.2 million barrels per day
Crude Oil
14-12-2021

Oil Prices Steady and on Course for Biggest Weekly Gain Since Late August
Lingering concerns as to whether the Omicron variant may push border movement restrictions during the festive season
Oil & Gas Trade
13-12-2021

U.S. to Sell 18 mln Barrels of Oil from Reserves on Dec 17
The U.S. Department of Energy said on Friday it will sell 18 million barrels of crude oil from the strategic petroleum reserve on Dec. 17, as part of a previously announced plan to cool oil prices.
Oil & Gas Supply
13-12-2021

Oman Bases 2022 Budget on Oil Price of $50/b, up from $45/b in 2021
2022 oil output forecast at 1.055 mil b/d vs 960,000 b/d in 2021
Crude Oil
13-12-2021

Tarim Oilfield Produces Over 30-mln-tonne Oil, Gas Equivalent
The Tarim Oilfield of China National Petroleum Corporation, China's leading oil and gas producer, produced more than 30 million tonnes of oil and gas equivalent this year, said the company Sunday.
OPEC
13-12-2021

Russia Says OPEC+ Deal Brings Investment Back To Oil Industry
The OPEC+ interventions on the market in recent years have helped the oil industry to see the beginning of the return of confidence and investments
Crude Oil
13-12-2021

Saudi Arabia Will Supply Full Volumes To Asia
Saudi Arabia will supply full contracted oil volumes to most of its buyers in Asia.
Oil Refinery
13-12-2021

CVR Energy Selects Honeywell Technology for Coffeyville Refinery
Honeywell today announced that a CVR Energy Inc. subsidiary has selected Honeywell UOP Ecofining technology to study conversion of seed oils, tallow and white/yellow greases into renewable diesel fuel at its facility in Coffeyville, Kansas.
Crude Oil
10-12-2021

Iraqi Crude Output Rises to 18-month High of 4.21 mil b/d in Nov: SOMO
Iraqi crude oil production, including flows from the semi-autonomous Kurdistan region, rose to an 18-month high of 4.208 million b/d in November.
Crude Oil
10-12-2021

White House not Considering Crude Export Ban
President Joe Biden's administration has all but ruled out the idea of pursuing a ban on crude exports, following an outcry from the oil industry and its allies in Congress.
Oil & Gas Trade
09-12-2021

China Suntien Green Energy in 15-Year LNG Deal with Qatar Energy
A China Suntien Green Energy subsidiary will sign a sale and purchase deal with Qatar Liquefied Gas for 1 million mt/year of LNG for 15 years, the Hong Kong- and Shanghai-listed company said Dec. 8.
Natural Gas
09-12-2021

European Gas Extends Gains as Giant Field in Norway Cuts Output
European natural gas prices extended gains as one of the region’s biggest fields curbed output because of a fault.
OPEC
09-12-2021

UAE and Saudi Arabia Commit to Expand Co-Operation in Energy Projects
The countries also commended Opec+ for its role in stabilising the oil market.
LNG
09-12-2021

South Africa Embraces a Gas Economy to Drive Energy Security
100% Black-owned energy infrastructure company DNG Energy’s first delivery of LNG gas to commercial customers in South Africa marks the start of a new phase for the country’s gas economy.

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