Oil

Crude Oil

Brent Nears $74 Amid Slow Return of US Oil Output

Brent crude neared $74 per barrel on Monday as it gained 31 cents or 0.42 cents to trade at $73.82 per barrel at the market, while the US West Texas Intermediat…

Energy Investment

Algeria Aims for $2.6 billion Increase in Energy Investment Next Year

OPEC member Algeria plans to increase investment in its oil and gas sector by $2.6 billion next year to boost production by 8.9 million tonnes of oil equivalent

Oil Pipeline

Germany has Four Months to Certify Nord Stream 2 Pipeline

Russian gas group Gazprom last week said it had finished construction of the pipeline to Germany, which could allow Russia to double gas exports to Europe via t…

LNG

China's Sinopec Completes Its First LNG Bunkering Operation

The bunkering, or marine refuelling, operation transferred 250 tonnes of LNG by truck to a China Merchant Shipping vessel

Natural Gas

U.S. Gas Production Set for Big Increase in 2022 on High Prices

As a result, futures prices for deliveries at Louisiana's Henry Hub in January 2023 are currently trading around $1.15 per million British thermal units below p…

LNG

Petrobras Signs Landmark Gas Supply Deal with Gerdau

Brazil's state-controlled Petrobras signed a natural gas supply agreement with steel producer Gerdau in a debut of its more flexible pricing model designed to c…

Crude Oil

Opec Lifts Oil Demand Forecast for 2022

Opec has increased its global oil demand forecast for 2022 by almost 1mn b/d, taking it back above 100mn b/d, even though there was some disquiet about this at …

LNG

Samsung Heavy Industries Highly Likely to Win Big LNG Carrier Project from Russia

Samsung Heavy Industries is highly likely to win another big shipbuilding order from Russia.

Oil Price

Oil Rises to Six-Week High as U.S. Supply Concerns Dominate

Oil prices rose to a six-week high on Monday as U.S. output remains slow to return two weeks after Hurricane Ida slammed into the Gulf Coast and worries another…

Oil & Gas Trade

Sudan Expects to Reach Oil Products Deal with Saudi Aramco

A delegation of Saudi officials and businesses is in Sudan for two days of talks on potential investments in sectors including agriculture, energy, mining and t…

Oil Pipeline

Gazprom Completes Construction Of Nord Stream 2 Gas Pipeline

Gazprom completed early on Friday construction of the Nord Stream 2 pipeline, the Russian gas giant said today, although gas flows on the controversial Russia-l…

Mexico

66% Of Gulf Of Mexico Oil Production Still Offline On Friday

The largest deepwater crude oil terminal in the United States has reopened in full after Hurricane Ida struck force a closure, a spokesperson said on Friday.

Crude Oil

Oil Slides After China Unexpectedly Releases Crude From National Reserve

Just hours after China revealed yet another high in producer price inflation, Beijing has taken the unprecedented step of releasing oil from its national crude …

Oil&Gas Drilling

ExxonMobil makes 20th Discovery on Stabroek as New Liza FPSO Heads to Guyana

U.S. oil major ExxonMobil has revealed a new discovery has been made at the Pinktail well in the Stabroek Block offshore Guyana.

Nigeria

Nigeria Struggles to Find Buyers for October Oil Exports

Nigeria has sent a signal that the recovery in global oil demand still has some way to go, with volumes for next month’s loading struggling to find a home, eve…