Top African Bank Defends Support For Fossil Fuel Projects
Standard Bank Group, the South Africa-based lender with the biggest assets in Africa, says that access to energy in Africa will continue to drive its support for fossil fuel projects.“It is not possible for Africa and many of the African countries to…
China Boosts Offshore Oil And Natural Gas Output
China reported higher offshore crude oil and natural gas production for the first quarter, with oil production up by 3.8% and natural gas production up by 6.5%, Xinhua reported.The increase was part of a broader one for the country’s marine economy, …
5 Oil Producing Nations Ask To Join BRICS Alliance
Saudi Arabia, the UAE, Algeria, Egypt, Bahrain, and Iran have formally asked to join the BRICS group of nations as it prepares to hold its annual summit in South Africa.In total, 19 nations have expressed interest in joining the emerging-markets bloc …
EU Looks To Attract More Suppliers To Its Joint Gas Purchase Platform
The European Union is keen to attract international natural gas suppliers to offer volumes for sale on the EU’s new joint gas purchase platform to keep prices low and avoid another winter of fears of gas shortages. “All international suppliers of g…
Saudi Aramco Replaces Microsoft As The World’s Second-Largest Company
Saudi Aramco has unseated Microsoft from the place of the world’s second-largest company in terms of market value, boasting $2.11 trillion in value, second only to Apple.The change in ranking occurred last month after Aramco’s shares rose on the new…
Russia Looks for Ways To Boost Oil Income
Russias government is mulling over fuel subsidy cuts or a windfall tax for the oil industry in a bid to offset the sharp drop in oil and gas revenues amid the Western sanction push following Moscows invasion of Ukraine.Bloomberg cited unnamed sources …
3 Reasons Why Oil & Gas Is Goldman Sachs’ Favorite Sector
Wall Street investment bank Goldman Sachs has advised investors to buy energy and mining stocks, saying the two sectors are positioned to benefit from economic growth in China. GS’ commodities strategist has forecast that Brent and WTI crude oil will…
3 Reasons Why Oil & Gas Is Goldman Sachs’ Favorite Sector
Wall Street investment bank Goldman Sachs has advised investors to buy energy and mining stocks, saying the two sectors are positioned to benefit from economic growth in China. GS’ commodities strategist has forecast that Brent and WTI crude oil will…
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…