Oil

Crude Oil

Rystad Energy Sees Oil Demand Peaking In 2026

The accelerating adoption of electric vehicles and electrification in other oil-consuming sectors is set to bring peak oil demand as early as 2026 at 101.6 mill…

Crude Oil

OPEC+ Unlikely To Drastically Change Oil Pact Next Week

The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months.

Oil Price

Angola May Privatize State-Owned Oil Firm To Boost Production

OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing in…

LNG

Japan Backs LNG Project Financing Ahead of Biden Climate Change Summit

State-owned Japan Oil, Gas and Metals National Corporation said April 20 that it will step up financial support for LNG projects and enhance its market informat…

Oil & Gas Trade

Japan Eyes Vietnam for ASEAN Oil-Sharing Deal

Japan is targeting Vietnam for what will be its first oil-sharing deal with a Southeast Asian nation as Tokyo attempts to ensure an uninterrupted supply of petr…

Philippines Ready To Claim Oil Resources With Military

The disputed South China Sea may soon see an escalation in tensions over oil drilling rights between China and the Phillippines

Oil & Gas Trade

World’s Largest Oil Trader Expects Strong Demand Rebound This Year

Global oil demand is set for a rebound between now and the end of next year, with consumption expected to rise from current levels by as much as 8 million barre…

Crude Oil

China Cuts Saudi, Russia Crude Imports in March

China imported less crude from top suppliers Saudi Arabia and Russia in March compared to a month earlier, while boosting arrivals from Brazil and the UAE, cust…

Oil Price

US Oil Surges Above $64 on Anniversary of Sub-Zero Plunge

Prices have since added more than $100 per barrel, following production cuts by Opec+ as well as resumption of mobility

Oil Field

Iraq Awards China’s Sinopec Contract to Tap Natural Gas Resources

China’s state-run Sinopec energy company won a deal to develop a major gas field in eastern Iraq.

LNG

Pavilion Energy Imports Carbon Neutral LNG Cargo

Pavilion Energy Singapore Pte. Ltd. has announced that it has imported a carbon neutral LNG cargo into Singapore, a first for the company and the country, Pavil…

Carbon Pricing

New Carbon Price Makes Energy Efficiency in the German Building Sector Even more Important

Heating oil will soon become more expensive for consumers in Germany due to the new Fuel Emissions Trading Act.

Oil&Gas Drilling

Aramco Resumes Work on Offshore Oil Capacity Expansion

State-controlled Saudi Aramco has resumed development work on three offshore crude expansion projects that will provide an additional 1.15mn b/d of capacity by …

LNG Carrier

Hyundai Heavy Receives Order for Three LNG Carriers

South Korean shipbuilder Hyundai Heavy Industries has taken an order for three LNG carriers, with delivery scheduled by July 2024.

Oil & Gas Supply

Guyana Estimates Future Oil Production At 1 Million Bpd

Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in …