India Moves to Modernize, Expand Gas Pipeline Network
By Gordon Feller, P&GJ Contributor Indian government says that it foresees an increase in the share of natural gas in the country’s energy mix – from 6% in 2021 to 15% by 2025. A total of $60 billion of new investment planned in the country’s …
China operates first smart oil refinery with 5G+ industrial internet
Chinas first intelligent oil refinery with a dual-frequency 5G-plus industrial internet went fully operational on Tuesday, its operator, the Huizhou Petrochemicals Company under China National Offshore Oil Corporation, announced. Located in Huizhou Ci…
Namibia’s largest oil discoveries may help double GDP by 2040
(Bloomberg) — Namibia expects its biggest oil discoveries since independence to help double its economy by 2040, Jennifer Comalie, chairperson of National Petroleum Corp. of Namibia, said in a Bloomberg TV interview.TotalEnergies SE in February said …
EIA: US Refining Capacity Sinks To Near Decade Low
Operable refining capacity in the United States hit a nearly decade low in 2022, the EIA’s latest Refining Capacity Report showed on Tuesday.U.S. refining capacity fell this year to 17.94 million barrels per day as of January 1, according to the late…
EU Signs Strategic Partnership With Oil, Gas-Rich Gulf Nations
The European Union today said it would form a “strategic partnership” with the Gulf Cooperation Council and its Member States “as part of enhancing engagement in the broader region,” the EU said on Monday in a publication of the council’s conclus…
China to ban new heavy industrial projects in key zones
SHANGHAI,June 17 (Reuters) - China will ban new steel, coking, oil refining, cement and glass projects in key zones, the government said on Friday ina wide-ranging policy document aimed at tackling pollution and meeting the countrys climate goals.Itsa…
U.S. steps up heavy crude imports as Biden blasts profiteering
HOUSTON, June 16 (Reuters) - U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil.Higher heavy-crude imports are common i…
Energy executives at transition conference still lean on fossil fuels
NEW YORK, June 14 (Reuters) - Energy company executives at a conference on the global transition insisted on Tuesday that fossil fuels, especially natural gas, are still needed at a time when global markets grapple with tight energy supplies and skyro…
Drilling vs returns. U.S. oil producers' tradeoff as windfall tax threatens
June 13 (Reuters) - U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street.Soaring …
Australian state to invest $850 mln in power grid
MELBOURNE, June 10 (Reuters) - Australias New South Wales state on Friday said it would invest A$1.2 billion ($850 million) in new transmission lines over 10 years to speed up connections to the grid for new renewable energy projects as the state look…
Ukraine eyes billions in euros from Europe electricity exports
KYIV, June 8 (Reuters) - Ukraine hopes to make 1.5 billion euros from electricity exports to the European Union by the end of the year and earn to more in the future after obtaining the right to export its energy there, a Ukrainian energy ministry adv…
High fuel prices could erode public support for energy transition, Chevron CEO says
HOUSTON, June 7 (Reuters) - Europes plan to double down on renewable fuels in response to rising fuel costs could have the unintended short-term effect of increasing prices and slow down the energy transition, Chevron Corp (CVX.N) Chief Executive Mich…
Oil settles shy of $120 a barrel on OPEC+ deal, Saudi pricing
June 6 (Reuters) - Oil prices settled slightly lower after choppy trade on Monday, buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply.Brent crude fell 21 cen…
Exclusive: U.S. will allow two companies to ship Venezuelan oil to Europe
HOUSTON/WASHINGTON, June 5 (Reuters) - Italian oil company Eni SpA and Spains Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt …
Oil prices skid $3 a barrel as investors take profits ahead of OPEC+ meeting
TOKYO, June 2 (Reuters) - Oil prices fell by around $3 a barrel in early Asian trade on Thursday as investors cashed in on a recent rally with a key producers meeting later in the day set to pave the way for expected output increases.Brent crude was d…
World Oil editorial: UK government can’t have it both ways
Recent moves by the UK government of Prime Minister Boris Johnson indicate that people in his regime must think that they can play both sides of the street, so to speak, when it comes to oil and gas policy, and get away with it. We are here to tell th…