Australia Plans To Extend Natural Gas Price Cap To 2025
Russias crude oil shipments continued to average a high of 3.4 million barrels per day (bpd) in the week to April 21 despite the 500,000 bpd production cut Moscow claims to be implementing by the end of this year, vessel-tracking data compiled by Bloo…
Russian Oil Exports Remain High Despite Production Cut
Russias crude oil shipments continued to average a high of 3.4 million barrels per day (bpd) in the week to April 21 despite the 500,000 bpd production cut Moscow claims to be implementing by the end of this year, vessel-tracking data compiled by Bloo…
Putin And Saudi Crown Prince Discuss OPEC+ Oil Output Deal
Vladimir Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman discussed the OPEC+ agreement in a telephone conversation on Friday, the Kremlin says, as Russia and Saudi Arabia continue to coordinate a common approach to oil supply to the market.…
Nigeria's Oil And Gas Sector Hit By $21 Billion In Divestments
The oil and gas production in Nigeria is being severely impacted by the Western ESG strategies that are forcing IOCs to reconsider their upstream and downstream operations worldwide, resulting in major reshuffling and divestments of assets. Nigeria, o…
Pakistan To Receive Its First Cargo Of Cheap Russian Crude
Pakistan expects to receive in May its first cargo loaded with discounted Russian crude after placing its first order for oil from Moscow under a new bilateral deal, Pakistan’s Petroleum Minister Musadik Malik told Reuters.For several months, Pakista…
Iraq To Restart Kurdistan Oil Exports This Week
Iraq will restart the export of crude oil from the Kurdistan region by the end of the week, the country’s Prime Minister, Mohamed Shia al-Sudani, said, as quoted by Rudaw.The news follows comments made earlier this week by the deputy speaker of the I…
Russia's Gasoline Exports Jump As African Buyers Replace Europe
Russian gasoline exports surged in the first quarter of this year compared to the same period in 2022, as Moscow placed growing volumes of fuels with African customers after the EU embargo on seaborne imports of Russias fuels. Russian gasoline expor…
Oil Demand Set To Remain Strong For Years To Come
I often get asked by readers of my articles, most of which involve investing in upstream oil and gas producers, and the service providers that support their activities, what the future of liquid, petroleum based fuels might be. People asking these que…
Russia Delivers 30,000 Tons Of Fuel To Iran Via Rail
Russia launched for the first time this year fuel-by-rail exports to Iran after the West banned seaborne imports of fuels from Russia over Putin’s invasion of Ukraine, industry sources have told Reuters. Russian firms are looking to place their dies…
Prices At The Pump Rise For Second Straight Week
The national average for a gallon of gasoline in the United States has risen for the second week in a row, up 8.8 cents from a week ago, to $3.57, according to GasBuddy, and up to $3.64 per gallon based on AAA data.GasBuddy data shows the national ave…
China’s Top Oil Companies To Invest $14.5 Billion In Renewable Energy
China, the worlds largest emitter of greenhouse gases, has committed to net-zero carbon dioxide emissions by 2060. The move is a significant change in direction for the country, which has heavily relied on coal-fired power plants for much of its energ…
U.S. Losing Influence As Saudi Arabia Joins Shanghai Cooperation Organization
Saudi Arabia’s very public announcement last week that its cabinet had approved a plan to join the Shanghai Cooperation Organisation (SCO) as a ‘dialogue partner’ is the surest sign yet that any U.S. efforts to keep it out of the China-Russia spher…
How New Technology Will Disrupt The Oil And Gas Industry
At a certain point in its lifecycle, every industry faces its moment of reckoning with growing pressure to transform due to factors such as increasing competition, changing consumer preferences, government policy and other secular headwinds. The trans…
Africa Looks To Help Europe Ease Its Dependence On Russian Gas
As the EU works to rebalance its natural gas supply away from Russia, African countries are expected to gain a larger share of the bloc’s liquefied natural gas (LNG) market in the coming years.Last month the EU announced that it would launch the firs…
Oil Prices Continue Their Climb On OPEC Shock
Crude oil prices rose further into the afternoon on Monday, trading at $85 for Brent crude oil around 4:30 p.m. ET, on the back of Sunday’s OPEC+ move that shocked the market.Most analysts had assumed OPEC+ would stay the course and keep production p…
Brazil’s Oil Exports Surge To Record-High Despite New Tax
Despite a new export tax, Brazilian oil exports have jumped to a monthly record-high this month, Reuters reported on Friday, quoting government data and industry experts.Brazil’s oil exports soared by 75.4% year over year between March 1 and 24, per …