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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
22-12-2021

Nov Crude Imports from UAE Hit Record High at 1.1 mil b/d
China's crude imports from the UAE hit a record high of 4.47 million mt, or 1.09 million b/d, in November amid lower official selling prices, making it China's third-largest supplier, data from General Administration of Customs showed Dec. 21.
Crude Oil
21-12-2021

Libya's NOC Says 300,000 b/d Crude Shut in
Libya's state-owned NOC said more than 300,000 b/d of crude production is shut in at fields in the western part of the country.
Natural Gas
21-12-2021

Petrobras Restarts Production from Brazilian Gas Field Following Pipeline Repairs
After the repairs were carried out on the export pipeline’s subsea valve, the Brazilian oil and gas giant Petrobras has resumed gas production from the Manati field, located offshore Brazil.
Crude Oil
20-12-2021

Eni Oil Block Expected to Enter Production in Q2 2023, Ivory Coast Says
An offshore oil block in Ivory Coast controlled by Eni is expected to enter production in the second quarter of 2023 with daily output of 12,000 barrels of oil and 17.5 million cubic feet of gas.
Crude Oil
20-12-2021

Libya Considers Bonuses for Oil Companies to Boost Crude Output
Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member tries to raise output to 1.4 million barrels a day by mid-2022.
Natural Gas
20-12-2021

Washington’s Natural Gas Usage Increased in 2020
The 2020 fuel mix report was released this week, and shows that while coal-fired power decreased slightly, the use of natural gas increased.
Natural Gas
20-12-2021

High Gas Prices Push up Electricity Cost in EU
Spot natural gas prices trading in the Netherlands soared this week near to record highs seen in October. Electricity prices have surged across Europe.
Natural Gas
18-12-2021

Brazil’s Gas Production Grew in November
Available natural gas was up by 8.1pc compared to previous month's levels, according to preliminary data from Brazil's oil and gas regulator ANP.
Crude Oil
18-12-2021

Goldman Says Oil could hit $100, Demand might Reach ‘New Record High’ in the Next Two Years
Goldman Sachs predicts a new high in oil demand in 2022, and again in 2023.
Oil Field
17-12-2021

Malaysia’s Pegaga Field May Start Gas Output in January
Malaysia's state-owned Petronas may be targeting a 20 January start to production at its Pegaga gas field offshore Sarawak, after the detection of high mercury levels at the field in September delayed the start to operations.
LNG
17-12-2021

Mozambique Makes Gains Against Militants Disrupting TotalEnergies’ LNG Project
Mozambique has made gains against Islamic State-linked insurgents who disrupted the southeast African nation’s multibillion gas project, according to President Filipe Nyusi.
Crude Oil
17-12-2021

Oil Prices Rise On Record U.S. Oil Demand
The price of WTI crude rose nearly 2% on Thursday on EIA reports that U.S. implied petroleum products demand had risen to record heights.
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

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