Oil

Market Analysis

Global Oil Demand Seen Returning to Pre-Pandemic Levels Within a Year: Moody's

The ongoing recovery in demand, rising costs and reduced levels of inventory as of September 2021 will continue to support strong momentum in oil prices.

Crude Oil

Oman's September Crude Output Edges up to 764,000 b/d

Oman's crude oil output edged up in September, marking a seventh straight monthly increase as the Opec+ group, of which it is a member, continues to unwind its …

Oil Exploration

4 Offshore Contracts Signed for Hydrocarbon Exploration and Production; Investments will Total US$1.4 billion

The National Hydrocarbons Agency and Anadarko Colombia Company signed 4 contracts for the exploration and production of hydrocarbons in the Colombian Caribbean,…

Hydrogen Project

Equinor Launches a Multibillion-Dollar Blue Hydrogen Plan

Equinor ASA, the flagship producer of oil and gas giant Norway, is investing billions of dollars in blue hydrogen on a bet that it can make the fuel more cleanl…

Crude Oil

ExxonMobil Increases Stabroek Resource Estimate to Approximately 10 Billion Barrels

ExxonMobil increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barre…

OPEC

Opec+ Output up by 650,000 b/d in September

Opec+ output rose sharply in September, pushed higher by production recoveries in Nigeria, Angola and Kazakhstan and by a notable increase from Iraq.

LNG

Vietnam Approves New $2.3 bln LNG Project

The plant, which is based in the central province of Quang Tri, will have an initial capacity of 1,500 MW, the government said in a statement

Crude Oil

Oil Rises 4% in Week as Energy Crunch Shows no Signs of Easing

Even with worldwide demand growing as economic activity rebounds from pandemic lows, the Organization of the Petroleum Exporting Countries and allied producers …

Natural Gas

Natural Gas Prices Drop as Putin Says Russia will Boost Supplies to Europe

According to trading data from the ICE, the price of November gas futures on the Dutch TTF index started trading at almost $1,260 per thousand cubic meters on T…

Crude Oil

Iraq in Advanced Talks with IOCs Over Boosting Oil Capacity to 8 mil b/d by 2027

Iraq, OPEC’s second-biggest producer, is in advanced talks with international oil companies over boosting the country’s production capacity to 8 million b/d b…

Crude Oil

US Imports of Canadian Crude up as Line 3 Starts

Early signs that new pipeline capacity out of Canada is now supplying crude to the US came this week as preliminary data from the US EIA showed a notable rise i…

Natural Gas

Defining Moment for the World on Natural Gas: GECF Annual Workshop

The cleanest of all the fossil fuels has entered its most defining moment as the world gets back to the twin ambitions of economic recovery and sustainable prog…

LNG

LNG Binding Producers-Consumers Together in Abruptly Changing Energy Landscape

However, he warned, the industry is increasingly being challenged by policies slanted against fossil fuels, which may lead to lack of financing and investment a…

Natural Gas

Qatar Energy Minister Says Current Gas Market Conditions Unhealthy

Kaabi said it was time to "set aside emotions" and realise that a successful energy transition cannot be achieved by producers alone and that it must be a joint…

Natural Gas

Brazil Prepares Moves to Smooth Gas Market Opening

The Brazilian government is preparing a new resolution to solve some of the most urgent pending matters in the soon-to-be-liberalized natural gas market.