An Oil Boom Is Underway In Ghana
Several African countries have welcomed investment in oil and gas in recent years, as parts of the continent undergo industrialization and investors look to develop new reserves. Africa provides companies with the potential for low-cost, low-carbon oi…
Saudi Arabia And Kuwait Reaffirm Rights To Disputed Gas Field
Saudi Arabia and Kuwait reiterated on Thursday that the natural resources in a gas field disputed with Iran “are exclusively owned by the Kingdom of Saudi Arabia and Kuwait, as the two countries have the full sovereign rights to exploit the resources…
OPEC’S Production Falls By Most In 3 Years: Survey
OPEC’s crude oil production fell in July by the largest amount in years, according to a new Bloomberg survey.According to the results of the survey, OPEC’s crude production fell 900,000 barrels per day (bpd) last month, to an average of 27.79 millio…
Biden Administration Proposes Hike In Fuel Economy Standards
The Biden Administration is proposing raising the fuel economy standards for passenger vehicles and light trucks by 2032 in an effort to reduce fuel consumption and emissions. The U.S. Department of Transportation’s National Highway Traffic Safety A…
Pakistan Secures Aramco Partnership Deal for $10B Refinery
Leading Pakistani state-owned companies are set to partner with Saudi Aramco in the giant $10-billion Greenfield Refinery project at Gwadar Port. Pakistan’s Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan S…
Saudi Arabia Likely To Extend Oil Production Cuts
Saudi Arabia is expected to prolong its voluntary 1 million-barrel oil supply cut into September as it seeks to support the rebound in oil prices. The top OPEC producer introduced the additional cutback this month in a bid to support higher oil prices…
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…