OPEC+ Plans to Keep Oil Production Cuts Unchanged
The OPEC+ group doesn’t have any plans to alter the current oil production policy and cuts when the alliance’s monitoring panel meets next week, OPEC+ delegates told Bloomberg on Friday.OPEC’s Joint Ministerial Monitoring Committee (JMMC), which ta…
Asia and Africa Oil Imports Jump to Record High on Cheap Russian Crude
Asia and Africa, which replaced Europe as the primary destinations of Russian crude oil, rushed last year to import cheaper crudes from Russia, boosting Asian and African overall crude oil imports to record highs, according to tanker-tracking data fro…
Saudi Arabia’s Crude Oil Exports Hit 5-Month High in November
Saudi Arabia’s crude oil exports inched up in November from October to reach a five-month high, data from the Joint Organizations Data Initiative (JODI) showed on Monday.Crude oil exports from the world’s top crude exporter rose by 39,000 barrels pe…
Qatar to Offer Cheaper LNG to India in New Long-Term Supply Deal
QatarEnergy and India are expected to sign soon a new long-term LNG supply deal under which Qatar is set to offer cheaper and more flexible supply to the Asian customer, Reuters reported on Friday, citing trade sources. Qatar, one of the world’s to…
9 Million Barrels of Saudi and Iraqi Oil Delayed Amid Red Sea Chaos
Tankers carrying nearly 9 million barrels of oil from Saudi Arabia and Iraq will delay their deliveries as they have diverted away from the Red Sea/Suez Canal route in recent days, and are now headed on the longer route via Africa, Bloomberg vessel-tr…
OPEC Sees Strong Oil Demand Growth in 2025
Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels.OPEC expects global economic gr…
Shell To Sell its Onshore Oil Business in Nigeria
Shell will exit Nigeria’s onshore oil and gas after agreeing to sell its onshore assets in the largest African OPEC producer, the UK-based supermajor said on Tuesday, adding that it would remain a major investor in Nigeria’s energy sector through it…
Norway’s oil and gas companies to step up exploration this year
Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe.Between 40 and 50 wells are expected to be completed, up from 34 last year, the Norwegian Offshore Di…
TotalEnergies Ups Stake in Namibia Oil As Discoveries Line Up
Offshore oil drilling in Namibia was boosted on Wednesday with French TotalEnergies’ move to increase its stake in the Venus discovery and the announcement of another discovery of light oil near Venus by a smaller explorer. On Wednesday, TotalEnergie…
Azerbaijan Doubles Down on Its Domestic Oil Potential
Norways national oil company Equinor has announced that it has sold its shares in two Azerbaijani oil fields and the Baku Tbilisi Ceyhan oil pipeline to Azerbaijans state oil company SOCAR and will exit from Azerbaijan after 30 years in the country.&q…
Big Oil’s Ambitious Decarbonization Strategies Have Gone Bust
Back in February 2020, British oil and gas multinational BP Inc. (NYSE:BP) announced an ambitious goal to become net-zero by 2050 through, among other things, aggressively cutting oil and gas production and also undertaking one of the industry’s most…
U.S. crude oil falls 4% as Saudi price cut heightens global demand worries
U.S. crude oil declined 4% on Monday after Saudi Arabia slashed its prices, raising renewed worries that the market is oversupplied at the same time as demand is weakening.The West Texas Intermediate futures contract for February lost $3.04, or 4.12%,…
Russian Fuel Exports Jump To 8-Month High
A surge in fuel oil exports pushed Russia’s refined petroleum product shipments in the four weeks to December 31 to the highest level in eight months, data from Vortexa compiled by Bloomberg showed on Friday. Russian oil product exports averaged nea…
Innovations & Future Trends in Air-Operated Diaphragm Pumps for Wastewater Handling
Wastewater management stands as a pivotal aspect of contemporary industrial and municipal operations. The pursuit of efficient and dependable methods for transferring and treating wastewater holds utmost importance for the sake of environmental sustai…
The West Moves To Secure Further Emergency LNG Supplies
Since Russia’s invasion of Ukraine on 24 February 2022, the race has been on to secure as much of the world’s regular liquefied natural gas (LNG) supplies as possible to compensate for lost energy supplies from the global gas and oil powerhouse. LNG…
What to Watch Out for at COP28
In a report sent to Rigzone on Wednesday, Matthew Bey, a senior analyst at RANE, outlined several things to watch out for at the COP28 climate summit, which is taking place from November 30 to December 12 in the United Arab Emirates (UAE).“The center…