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…
China Steps Up Game With 1st ‘Floating Oil Factory’
China has delivered its first smart floating production storage and offloading (FPSO) with land-sea integrated operation system, marking a breakthrough in the countrys application of the digital twin technology. The offshore oil and gas FPSO with a st…
U.S. Crude Trading At Big Discount To Dubai Oil
Heavy trading in Dubai oil has lifted its premium to WTI crude to its highest since late March, a development that could make U.S. crude even more competitive in Asia. More traders have turned to Dubai after Persian Gulf producers such as Saudi Arabia…
Gibson Energy Buys Texas Oil Terminal For $1.1 Billion
Canadian Gibson Energy has struck a deal with Buckeye Partner to buy the South Texas Gateway oil terminal for some $1.1 billion in cash.The deal will give Gibson access to “one of the most competitive liquids terminal and export facilities globally w…
Saudi Aramco Tops Forbes’ List Of 100 Largest Companies In The Middle East
Aramco is the biggest company in the Middle East in terms of sales, revenues, and market value, according to the latest Forbes list for the top 100 companies in the region.With a market value of $2.1 trillion and sales of $604.4 billion, Aramco was an…
Exxon Narrowly Avoids Oil Production Halt In Guyana
An appeals court has suspended an order issued by a lower court that could have seen supermajor Exxon lose its license to operate the Liza-1 offshore well that yields about half of the country’s oil output.According to its contract with the Guyanese …
Head Of UAE Oil Giant Says Fossil Fuel Phasedown Inevitable
The head of the United Arab Emirates state-run oil giant, ADNOC—and incoming COP28 President—said that a fossil fuel phasedown is inevitable. "The phasedown of fossil fuels is inevitable. The speed at which this happens depends on how quickly w…
Argentina’s Oil And Gas Giant To Focus On Vaca Muerta Exports
Argentina’s state oil and gas operator YPF will focus its efforts on bringing crude oil and natural gas exports from the Vaca Muerta shale formation to as high a level as they can reach, according to a senior company executive.“Considering Argentina…
Singapore Detains Record Number Of Oil Tankers As Shadow Fleet Expands
Singapore, a major hub for oil transportation and storage, has detained this year a record-high number of oil and chemicals tankers that have failed to pass inspection—more than the number of detained tankers in the whole decade to 2019.As old tanker…
International Airlines Slam EU For Sustainable Fuel Mandates
The European Union’s behavior is “anti-aviation” because of mandates obliging airlines to use so-called sustainable aviation fuels as a lower-carbon alternative to ht fuel.This is the message that the aviation industry had for the EU at its annual …
Exxon And Chevron Close To Signing Gas Exploration Deals In Algeria
ExxonMobil and Chevron could gain access to Algeria’s vast natural gas resources as the U.S. supermajors are in advanced talks for exploration and production deals in the North African country, The Wall Street Journal reported on Friday, quoting sour…