Oil

Oil Price

Price Hikes Won't Hit Petrol Demand

The domestic retail rates of petrol and diesel have remained unaltered since the beginning of November. Oil marketing companies are widely expected to raise pri…

EV Market

Secondhand Tesla Prices are Shooting up as Petrol Prices and New Car Wait Times Blow out

With the price of petrol set to soar due to looming gas and oil shortages caused by Russia’s invasion of Ukraine and subsequent sanctions, observers are noting…

Oil Price

Asian Shares Surge as Russia-Ukraine Talks Buoy Sentiment

Asian shares surged on Thursday, tracking Wall Street's gains as planned diplomatic talks between Russia and Ukraine buoyed sentiment, although analysts warned …

Natural Gas

Gas Prices Jump in Wake of Biden's Ban on Russian Oil

The cost to fill up the gas tank has gone from bad to worse with the national average hitting a new record. President Biden warned Americans to expect to pay ev…

Natural Gas

Gas Prices Reach New High in N.S., Costs Skyrocket in Atlantic Canada

The price of gas has reached a new high in Nova Scotia for the third time in a week, rising another 10.9 cents overnight.

Crude Oil

India's Fuel Demand Rises 5.4% in February

India's fuel demand rose 5.4% in February, compared with the same month last year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry…

Natural Gas

Demand for Natural Gas on Australia's East Coast Falls

The uptake in renewable energy could see gas demand from Australia’s East Coast decline by around 60% by 2050, depending on the pace of the energy transition, …

Crude Oil

US Shale Investors Worry over Impact of Output Jump

US shale oil investors are concerned that quickly ramping up production to capture soaring crude prices could upset confidence in the steady growth business mod…

Crude Oil

EU Leaders Tackle Escape Route From Russian Fossil Fuels

European Union leaders will tackle ways to wean themselves off Russian fossil fuels on Thursday and debate how quickly to ditch their key supplier.

LNG

Germany to Build Its Own LNG Terminal

European Union’s sanctions may be pounding hard on the Russian economy, its energy reliance cannot be dismissed. This incidentally also explains the sanctions …

CNOOC

Chinese Partner Paying over $2 bln to Petrobras for More Interest in Brazilian Field

Chinese oil and gas company CNOOC has sealed a deal with the Brazilian giant Petrobras, which will allow it to acquire an additional interest in the Búzios fie…

Natural Gas

Russian Gas Continues to Flow into Europe on Main Pipeline Routes

Russian gas delivered through pipelines continued to flow via Poland westward into Germany while flows into Slovakia via Ukraine remained at recent high levels …

World’s most Advanced Oil Rig Commissioned at ONGC Well in Bhimavaram

As the energy prices soar, the advanced rigs are very crucial for the Indian energy sector to drill oil and gas wells faster to increase the production for d…

Crude Oil

Africa: Nigeria to Maintain Top Positions As Africa's Biggest Oil Producer, Production to Peak in 2023 - Report

Nigeria will retain its number one position as Africa's biggest oil producer as well as maintain the top three gas suppliers on the continent between 2022 and 2…

Oil Exploration

Opportunities Still Exist in Kenya’s Oil, Gas Sector

Last week Kenya announced for sale 35 oil and gas exploration blocks mostly in the natural gas prone coastal Lamu Basin. This is an indication of revived upstre…