Russia could cope with potential EU ban on Russian LNG, says RIA citing...
Russia could cope with a European Union ban on imports of its liquefied natural gas (LNG) but it would lead to higher prices for European consumers and losses for EU companies, the RIA news agency...
View ArticleAnalysts see US gas storage surplus narrowing through late May
Market analysts expect another below-average build to US natural gas storage for the third week of May as warmer weather and stronger gas-fired power demand limited available supply for injection....
View ArticleOil inventories slump by 6.5M barrels last week: API
U.S. crude stockpiles fell much more than expected last week, the API reported Wednesday, pointing to signs of pick up in energy demand as the summer driving season is underway. Crude Oil WTI Futures,...
View ArticleOPEC+ discuss keeping voluntary oil cuts until year-end, sources say
OPEC+ members that are making 2.2 million barrels per day of voluntary oil output cuts are discussing extending them until the end of the year, three OPEC+ sources said ahead of the group’s meeting on...
View ArticleMiddle East Crude-Benchmarks dip amid thin trade, cautious demand expectations
Middle East crude benchmarks Oman, Murban and Dubai all slipped on Thursday, against a backdrop of thin spot liquidity with only two major traders in the open window. Premiums all slipped to fresh...
View ArticleMiddle East drilling rates down almost 20% since Aramco’s crude expansion halt
The cost to use a drilling rig to explore for crude oil and natural gas in the Middle East may have bottomed out after dropping almost 20% since the end of 2023 after Saudi Aramco cancelled its...
View ArticleSaudi Arabia may announce landmark Aramco share sale Thursday, sources say
Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco later on Thursday, pending final approval, people with knowledge of the matter said. The share offering is expected to...
View ArticleUS crude stocks fall, gasoline and distillate inventories rise – EIA
U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said. Crude inventories fell by 4.2 million barrels to 454.7 million barrels in...
View ArticleOPEC+ discuss keeping voluntary oil cuts until year-end, sources say
OPEC+ members that are making 2.2 million barrels per day of voluntary oil output cuts are discussing extending them until the end of the year, three OPEC+ sources said ahead of the group’s meeting on...
View ArticleOur U.S. summer natural gas consumption forecast for electric power matches...
We forecast that the natural gas consumed for electricity generation this summer in the United States will reach near the record set last year. Despite a 3% increase in overall U.S. electricity...
View ArticleUS refinery net input of crude rises to highest since Dec 2019, EIA says
U.S. refinery net input of crude oil rose last week to 17.1 million barrels per day (bpd), its highest since Dec 2019, data from the Energy Information Administration showed on Wednesday. Net input of...
View ArticleRussia, UK play down fears over Russian Antarctic oil and gas research
Russian state research company Rosgeologiya and the UK foreign ministry separately played down suspicions over Russian oil and gas-related research in Antarctica, with the Russian side asserting the...
View ArticleTaiwan vulnerable to LNG supply risks in the event of a maritime blockade
Taiwan is highly vulnerable to LNG supply disruptions in the event of a maritime blockade due to its heavy reliance on LNG for power generation, storage constraints, and a policy to dial back on...
View ArticleOil giants Exxon, Chevron lean on big-ticket deals to build bigger reserves
Cash-rich Exxon Mobil (XOM.N), opens new tab and Chevron (CVX.N), opens new tab are bolstering their oil and gas drilling inventory with multi-billion-dollar takeovers as they bet on resilient demand...
View ArticleSaudi Arabia to sell more Aramco shares as OPEC+ ministers meet
Saudi Arabia’s state-run energy giant Aramco will sell up to $12 billion in shares June 2, the same day OPEC+ ministers are scheduled to meet and set oil production quotas for the coming months, as the...
View ArticleMiddle East Crude-Benchmarks mixed; weak demand expectations persist
Middle East crude benchmarks Oman, Murban and Dubai were mixed on the last trading day of the month, though markets continued to price in weaker demand expectations in the coming months ahead of an...
View ArticleOPEC+ woos African producers in bid for greater market share
With Africa one of the last frontiers for upstream development, the OPEC+ alliance is courting emerging oil producers on the continent, such as Namibia, Ghana and Senegal, for potential membership....
View ArticleMalaysia’s Petronas Q1 profit falls on high costs, low prices
Malaysia’s state energy firm Petronas, or Petroliam Nasional Berhad IPO-PETO.KL, reported a near 11% decline in first-quarter net profit on Friday due to higher operating costs and lower realised...
View ArticleIndia cuts windfall tax on petroleum crude
The Indian government has cut the windfall tax on petroleum crude to 5,200 Indian rupees ($62.33) per metric ton from 5,700rupees, effective on June 1, according to a notification issued on Friday. The...
View ArticleOPEC+ extends deep oil production cuts into 2025
OPEC+ agreed on Sunday to extend most of its deep oil output cuts for 2024 but to start phasing them out in 2025, as the group seeks to shore up the market amid tepid global demand growth, high...
View Article