Trinidad & Tobago Declares National Emergency after Ghost Ship Oil Spill
The prime minister of Trinidad and Tobago has declared a “national emergency” following a large offshore oil spill in the eastern Caribbean. “This is a national emergency and therefore it will have to be funded as an extraordinary expense,” Rowley…
Shell Resumes Oil Delivery to Nigerian State Refinery Set for Q1 Restart
Shell has restarted crude oil deliveries from its Nigerian terminal to one of the country’s state-owned refineries, which is expected to resume operations this quarter after refurbishment. Shell Nigeria delivered 475,000 barrels of crude oil from …
Standard Chartered: Expect Very Little Growth In U.S. Oil Supply In 2024
Last year, U.S. crude production surged to all-time high, blunting efforts by OPEC+ to keep global markets constrained, and Energy Intel has predicted that robust non-OPEC oil supply is likely to cap oil prices even in the event demand surprises to th…
Petrobras Discusses Joint Projects With Other National Oil Companies
Brazilian state oil and gas company Petrobras is discussing potential cooperation in energy projects with other national oil companies (NOCs) from the Middle East, China, and India, Petrobras CEO Jean Paul Prates told Reuters on Wednesday.The NOCs wit…
Germany to Subsidize 10 GW of New Natural Gas Power Plant Capacity
Germany will tender 10 gigawatts (GW) of new natural gas-fired capacity from power plants that could be converted to hydrogen in the 2030s, as part of plans to ensure stable electricity supply as wind and solar power generation and installations grow.…
Exxon: Biden’s Halt To LNG Project Approvals is ‘A Mistake’
The pause in new LNG export project approvals announced by the Biden Administration last week is “a mistake” as it would actually hold back global efforts to reduce emissions, ExxonMobil’s CFO Kathy Mikells told Bloomberg in an interview published …
Saudis Are Diverting More Oil Exports to Avoid Southern Red Sea
Amid rising Red Sea shipping risks due to attacks on vessels from Yemen’s Houthis, Saudi Arabia has increased exports from its northern Red Sea terminal to avoid the danger zone, according to Bloomberg and Reuters. Oil exports from Saudi Arabia’s Mu…
Germany Plans Large Share Sale of Nationalized Energy Major Uniper
Germany has started exploring options to sell a large stake in energy giant Uniper, which the government nationalized in 2022, with a possible share offering at the end of this year or next year, sources with knowledge of the plan told Bloomberg on We…
OPEC+ Plans to Keep Oil Production Cuts Unchanged
The OPEC+ group doesn’t have any plans to alter the current oil production policy and cuts when the alliance’s monitoring panel meets next week, OPEC+ delegates told Bloomberg on Friday.OPEC’s Joint Ministerial Monitoring Committee (JMMC), which ta…
Asia and Africa Oil Imports Jump to Record High on Cheap Russian Crude
Asia and Africa, which replaced Europe as the primary destinations of Russian crude oil, rushed last year to import cheaper crudes from Russia, boosting Asian and African overall crude oil imports to record highs, according to tanker-tracking data fro…
Saudi Arabia’s Crude Oil Exports Hit 5-Month High in November
Saudi Arabia’s crude oil exports inched up in November from October to reach a five-month high, data from the Joint Organizations Data Initiative (JODI) showed on Monday.Crude oil exports from the world’s top crude exporter rose by 39,000 barrels pe…
Qatar to Offer Cheaper LNG to India in New Long-Term Supply Deal
QatarEnergy and India are expected to sign soon a new long-term LNG supply deal under which Qatar is set to offer cheaper and more flexible supply to the Asian customer, Reuters reported on Friday, citing trade sources. Qatar, one of the world’s to…
9 Million Barrels of Saudi and Iraqi Oil Delayed Amid Red Sea Chaos
Tankers carrying nearly 9 million barrels of oil from Saudi Arabia and Iraq will delay their deliveries as they have diverted away from the Red Sea/Suez Canal route in recent days, and are now headed on the longer route via Africa, Bloomberg vessel-tr…
OPEC Sees Strong Oil Demand Growth in 2025
Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels.OPEC expects global economic gr…
Shell To Sell its Onshore Oil Business in Nigeria
Shell will exit Nigeria’s onshore oil and gas after agreeing to sell its onshore assets in the largest African OPEC producer, the UK-based supermajor said on Tuesday, adding that it would remain a major investor in Nigeria’s energy sector through it…
Norway’s oil and gas companies to step up exploration this year
Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe.Between 40 and 50 wells are expected to be completed, up from 34 last year, the Norwegian Offshore Di…