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 …
OPEC+ To Stick To Its Current Oil Production Plans
OPEC+ is set to meet on Monday, but delegates from the organization said that it would likely stick to its current production cut plan.Oil prices have sagged over the last couple of weeks, dragged down by the collapse of two US banks. Despite the low …
China completes first yuan-settled LNG trade
By Andrew Hayley for ReutersBEIJING, March 28 (Reuters) - Chinese national oil company CNOOC 0883.HK, 600938.SS and Frances TotalEnergies TTEF.PA have completed Chinas first yuan-settled LNG trade through the Shanghai Petroleum and Natural Gas Exchang…
Oil’s Low Prices Draw Rash Of Hedging
Last week’s crashing oil prices were awfully tempting last week for big oil consumers, who took advantage of the low prices to hedge against the inevitable price rise.Major oil consumers such as airlines boosted their hedging at a rapid pace, accordi…
Oil Prices Jump 5% On Easing Banking Fears
Amid extreme volatility, crude oil prices rallied sharply on Monday recording their biggest gains in months after a banking crisis seemed to lose steam. At 4:42 p.m. EST, Brent crude was trading up 4.21%, for a $3.16 increase on the day, at $78.15 per…
Natural Gas Prices See Yet Another Weekly Decline
Natural gas prices are up on the day, but they are once again down on the week—the third week running—as unseasonably warm weather dampened prospects for one more demand push in the United States.Natural gas prices were trading up on the day to $2.1…
Power Of Siberia Pipeline Deal Could Be Reached This Year
A deal between China and Russia over the Power of Siberia natural gas pipeline could be reached yet this year, according to new statements from Russian Deputy Prime Minister Alexander Novak.The planned Power of Siberia pipeline will carry 50 billion c…
Oil Prices Rise As Fed Announces Small Rate Hike
Oil prices were trading up close to 2% on Wednesday afternoon after the Federal Reserve raised the key short-term interest rate by 25 basis points, emphasizing that the “U.S. banking system is sound and resilient”. The rapid rise in interest rates u…