LNG Bunkering Sales Off to a Strong Start in 2024
Liquefied natural gas (LNG) remains the fuel of choice for lower-carbon shipping, despite the rise in orders for vessels equipped with dual-fuel methanol and ammonia engines, according to Rystad Energy analysis. While question marks remain around just…
Russia’s Seaborne Crude Oil Exports Hit 11-Month High
Russia exported the highest level of oil from its ports in 11 months in the week to April 14, as export terminals likely shipped more crude that couldn’t be processed at refineries knocked offline by Ukrainian drone attacks, tanker-tracking data moni…
Russia’s Seaborne Crude Oil Exports Hit 11-Month High
Russia exported the highest level of oil from its ports in 11 months in the week to April 14, as export terminals likely shipped more crude that couldn’t be processed at refineries knocked offline by Ukrainian drone attacks, tanker-tracking data moni…
Texas Natural Gas Prices Are Negative As Drillers Chase Oil Sales
Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online…
Moscow Calls on Producers to Up Domestic Fuel Deliveries
Moscow is demanding that Russian producers step up gasoline and diesel deliveries to the domestic market and for exchange trading, TASS reported on Wednesday, after the Energy Ministry said Russian fuel market supplies are now stable. "Deputy Pri…
Top Commodity Trader Sees Oil in $80-$100 Range This Year
Oil prices are set to trade in the range between $80 and $100 per barrel this year, Russell Hardy, chief executive at the world’s largest independent oil trader, Vitol Group, said at an industry conference on Tuesday.Vitol also expects robust global …
Nigeria Seeks to Boost Economy With $1 Billion Oil-Backed Loan
Africa’s biggest crude oil producer, Nigeria, is expected to receive a $1 billion loan from the African Export-Import Bank (Afreximbank) next month as part of a larger crude oil prepayment facility aimed at shoring up forex reserves and boosting the …
Saudi Arabia Hikes Oil Prices in Increasingly Tight Market
Saudi oil giant Aramco, the world’s top crude oil exporter, hiked on Friday the prices of most of its crude grades for May, as Middle Eastern benchmarks are strengthening in a market that looks increasingly tight. For a second consecutive month, Sau…
Denmark Closes Busy Oil Shipping Strait Over Faulty Missile Launcher
The National Maritime Authority of Denmark has closed down the Great Belt strait–a key shipping venue for Russia’s shadow sanctions-busting oil fleets–after the Danish navy activated a faulty missile launcher, endangering traffic. The missile launc…
Shell Said to Be Seeking Long-Term Venezuela License
Reuters reports that the Dutch supermajor Shell is seeking a long-term license from Washington before making a final investment decision on Venezuela’s Dragon natural gas project. Citing two anonymous sources, Reuters said Shell was seeking a 15-yea…
Russia’s Oil Exports By Sea Hit New 2024 Record
Russia’s crude oil exports by sea reached the highest point yet this year in the last week of March, as weather conditions at Russia’s Pacific Port improved.Bloomberg tanker tracking data shows that four-week average seaborne crude exports in the pe…
Russia’s Oil Exports By Sea Hit New 2024 Record
Russia’s crude oil exports by sea reached the highest point yet this year in the last week of March, as weather conditions at Russia’s Pacific Port improved.Bloomberg tanker tracking data shows that four-week average seaborne crude exports in the pe…
Argentina Discusses Natural Gas Exports to Brazil via Bolivia
Argentina and Brazil are discussing the idea to export natural gas from Argentina’s Vaca Muerta shale play to Brazil via pipelines in Bolivia, by potentially reversing the flow northbound to Brazil.Energy companies from the three South American count…
Over 20% of the World’s Oil Refining Capacity Is at Risk of Closure
More than 20% of the total global refining capacity is at some risk of closure as refining margins are set to weaken alongside demand, while carbon taxes could also burden many refiners, Wood Mackenzie has said in a recent report.Overall, based on exp…
Kenya and Uganda End Oil Imports Dispute
East African neighbors Kenya and Uganda have reached an agreement to end a bitter dispute about oil imports via the Kenyan port of Mombasa to landlocked Uganda.For years, Uganda has imported fuels from Kenya via Kenyan companies and middlemen. Kenya h…
Russia Boosts Shelf Exploration for Oil and Gas Resources
Russia is boosting exploration for oil, gas, and minerals on its continental shelf as it has launched the first comprehensive geological and drilling studies in 30 years, according to its Federal Agency for Mineral Resources.The agency, also known as …