Oil

Oil&Gas Drilling

Shell Makes Significant Oil & Gas Discovery Offshore Namibia

Shell has made a significant oil and gas discovery offshore Namibia, one of the expected hotspots for exploration this year.

Oil Price

Japan to Subsidize Oil Wholesalers for 1st Time to Curb Fuel Price

Japan's industry minister Koichi Hagiuda said Tuesday the government will implement for the first time its oil industry subsidy program, which is aimed at curbi…

Oil Refinery

Japan’s Eneos to Close Wakayama Oil Refinery on Falling Demand

Japan’s Eneos Holdings Inc. will close one of its oil refineries next year due to falling domestic demand and the shift away from fossil fuels.

Natural Gas

Texas Natural Gas Production Falls as Freezing Weather Sets in

Texas natural gas production dropped for the second time this month because of freezing temperatures settling over the state.

Nigeria

Nigeria Oil Refinery About to Come Online Later This Year

AfDB President Dr Akinwumi Adesina described the Dangote oil refinery and petrochemical plant project in Nigeria as a game-changing initiative that will spur th…

Indonesia

Kuwait's Kufpec Discovers Gas, Condensate in Indonesia

Kufpec, the foreign upstream arm of Kuwait's state-owned KPC, today announced a gas and condensate discovery in the Anambas block in the Natuna Sea north of Ind…

Market Analysis

EIA Forecasts US Fossil Fuel Production to Reach New Highs in 2023

After declining in 2020, the combined production of US fossil fuels increased by 2% in 2021 to 77.14 quadrillion British thermal units.

Crude Oil

OPEC’s Shrinking Capacity Could Send Oil Above $100

The oil market is quickly realizing that many OPEC producers may not have the capacity to boost output much further.

Crude Oil

Russia’s Oil Output Could Peak In 2023

There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow.

Crude Oil

China's Crude Oil Output Rises in 2021

China's crude oil output reached nearly 199 million tonnes last year, up 2.4 percent from the previous year, official data showed.

Oil & Gas Trade

Chinese LNG Reload Heads to Europe

Europe is poised to receive a cargo reloaded at a Chinese LNG import terminal, as the region remains the global premium market for LNG and weaker demand leads C…

Oil Field

TotalEnergies, Chevron to Exit Myanmar

TotalEnergies and Chevron said they will withdraw from Myanmar because of the worsening situation in the country since a February 2021 military coup.

Natural Gas

China Is Reselling LNG Cargoes, Driving Gas Prices Lower

Major Chinese LNG importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to see i…

Hydrogen Project

S-OIL Signs MOU on Blue Hydrogen Business with Saudi Aramco

S-OIL has signed four MOUs with Saudi Aramco to strengthen cooperation in alternative energy, including research and development on low-carbon future energy sou…

Crude Oil

Norway Recorded Higher Oil & Gas Output in December

Norway’s oil and gas production increased in December 2021 when compared to the previous month but it was slightly below predictions made by the Norwegian Petr…