Chevron Considers Building LNG Export Terminal In The Mediterranean
Chevron is considering the construction of a floating LNG terminal in the Eastern Mediterranean to use as an export hub for Asia and Europe.That’s according to Chevron’s global head of gas, who spoke to Japan’s Nikkei, saying that the Eastern Medit…
Canada To Cut Some Oil & Gas Subsidies
The Canadian federal government has established a framework for revoking what are deemed to be inefficient subsidies for fossil fuels, but fell short of climate activists’ expectations, and failed to put a dollar amount on the subsidies to be elimina…
Asia Snapping Up U.S. Crude Oil In Near Record Amounts
Asia has scheduled near-record volumes of U.S. crude oil to be shipped next month, according to trade sources who spoke to Reuters.Between 1.5 million and 1.9 million bpd of U.S. crude—most of which is WTI Midland—will make their way to Asia in Augu…
Wenzhou Pump and Valve Representatives Expand Horizons at Nigeria Oil and Gas Week
The visit of Wenzhou Pump and Valve representatives to the Nigeria Oil and Gas Week this year has proven to be a pivotal moment in forging valuable connections and gaining profound insights into the Nigerian market. This momentous event brought togeth…
Mysterious Cluster Of Saudi Oil Tankers Off Egypt Raises Storage Concerns
The number of Saudi supertankers carrying oil and sitting offshore Egypt increased again on Friday, according to vessel tracking data monitored by Bloomberg, after signs emerged earlier this week that the previous large cluster had started to clear. …
Saudi Arabia’s Crude Oil Exports Slumped Below 7 Million Bpd In May
In May, Saudi Arabia’s oil exports plunged below 7 million barrels per day (bpd) for the first time this year as the world’s biggest crude exporter and several other large OPEC+ producers began a collective cut of 1.6 million bpd in May.Saudi crude …
Saudi Arabia’s Crude Oil Exports Slumped Below 7 Million Bpd In May
In May, Saudi Arabia’s oil exports plunged below 7 million barrels per day (bpd) for the first time this year as the world’s biggest crude exporter and several other large OPEC+ producers began a collective cut of 1.6 million bpd in May.Saudi crude …
Iraq Takes First Step Towards Becoming The World’s Biggest Oil Producer
Iraq’s parliamentary oil and gas committee plans to increase the country’s oil production to more than five million barrels per day, according to the release of committee minutes last week. As analysed in full in my new book on the new global oil ma…
Spain’s Natural Gas Imports From Russia More Than Doubled In May
Spain’s imports of natural gas from Russia more than doubled in May compared to a year earlier and Russia accounted for 27.9% of Spain’s gas imports, second only to Algeria, data from the Spanish Energy Ministry showed on Monday.Spain imported the e…
Biden Rejects Call To End Oil And Gas Drilling On Federal Lands
The Biden Administration has rejected a petition from hundreds of environmental organizations to consider rulemaking with which to end oil and gas production on public lands by 2035.The Center for Biological Diversity and more than 360 other U.S. clim…
LNG Exports Have Sent U.S. Natural Gas Demand Surging This Decade
Rising exports of LNG from the U.S. Gulf Coast drove a 43% surge in U.S. natural gas demand in the decade to 2022, the U.S. Energy Information Administration (EIA) said on Tuesday.Demand for natural gas in America – including for domestic consumption…
Malaysia Expects Its Oil Production To Peak Next Year
Malaysia’s state-owned oil and gas company Petronas has forecast the country’s crude oil production will peak in 2024 at around 2 million barrels of oil equivalent daily.The bulk of Petronas’ output is natural gas and it will remain this way, the c…
Mysterious Saudi Oil Tanker Cluster Off Suez Starts To Clear
A cluster of mostly Saudi supertankers loaded with oil that has been idling off Egypt’s Red Sea coast for weeks has shown signs of starting to clear as two of the 11 tankers are no longer anchored near the Ain Sukhna oil terminal, according to tanker…
U.S. Crude Oil Inventories See Bigger Dip Than Expected
Crude oil inventories in the United States decreased this week by 1.246 million barrels, the American Petroleum Institute (API) data showed on Wednesday.Analysts were expecting a smaller 433,000-barrel draw in U.S. crude-oil inventories. The total num…
Qatar To Sign Second Huge Long-Term LNG Deal With China
Qatar and China are set to sign imminently a new major long-term deal under which QatarEnergy will supply LNG to a Chinese state-controlled energy giant, the Financial Times reported on Tuesday.At the end of last year, Qatar’s state firm QatarEnergy …
India’s Oil Demand Set For Record High Despite Dipping In April
India’s crude oil imports fell slightly in April from a month earlier and refinery intake dipped month-on-month, according to data from the Joint Organizations Data Initiative (JODI), but on the following month of May, the world’s third-largest crud…