US crude stocks fall, fuel inventories rise, EIA says
U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 959,000 barrels to 414.6...
View ArticleShell warns of weaker fourth quarter LNG, oil trading
Shell trimmed its liquefied natural gas production outlook for the fourth quarter on Wednesday and said oil and gas trading results are expected to be significantly lower than in the previous three...
View ArticleIndia’s refining capacity to expand 20% by 2028 on robust run rates, demand...
India’s refining capacity is set to expand more than 20% over the next three years, as growing domestic and overseas demand for oil products is pushing existing refineries to run at over 100% capacity,...
View ArticleOne year after OPEC exit, Angola’s oil production sees modest growth
Angola’s average daily oil production reached 1.134 million barrels in the first three quarters of 2024, increasing by 4 percent compared to the same period last year, according to data from Angola’s...
View ArticleSpot Henry Hub natural gas prices hit a historic low in 2024
In 2024, the U.S. benchmark Henry Hub natural gas spot price averaged $2.21 per million British thermal units (MMBtu), the lowest average annual price in inflation-adjusted dollars ever reported. The...
View ArticleOil prices steady as markets weigh demand against US inventories
Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large U.S. fuel inventories and macroeconomic concerns. Brent crude futures were down 3...
View ArticleU.S. oil inventories at Cushing storage hub fall to lowest in a decade
U.S crude inventories at the country’s flagship storage hub in Cushing, Oklahoma, fell to their lowest in over a decade amid strong refining activity and a year-end tax measure, data from the...
View ArticleMiddle East Crude-Oman and Dubai slide to two-week low
Middle East crude benchmark premiums eased on Thursday, with that for Oman and Dubai hitting a level lowest in about two weeks. SINGAPORE CASH DEALS Cash Dubai’s premium to swaps fell 24 cents to $1.36...
View ArticleSaudi crude oil supply to China set to fall in Feb vs Jan, sources say
Saudi Arabia’s crude oil supply to China is set to decline in February from the month before, trade sources said on Thursday, after the kingdom hiked its prices and as OPEC+ extended production cuts in...
View ArticleOil market structure changes as prompt supplies tighten
The price of prompt Brent crude futures on Wednesday rose to a near five-month high over the price for oil six months later due to tightening supply and expectations for a revival in Chinese demand....
View ArticleOil & gas divestitures, midstream consolidation, and PE deals to drive 1H M&A...
Last year’s gusher of mega-deals by oil and gas majors, including Diamondback’s [NASDAQ:FANG] USD 28.1bn acquisition of Endeavor Energy Resources, could prompt a slew of divestitures, industry experts...
View ArticleFalling profits to stress-test Europe’s green refining plans
As European refiners bid farewell to record profits and face up to a changing market landscape, the year ahead will test convictions on decarbonization projects. For years, refiners have prepared their...
View ArticleWestern Canadian crude output growing as exit capacity expands
Western Canadian oil producers are looking to expand output in 2025 as midstream players work to add incremental market access to the US Gulf Coast and Asia, according to industry players. “Oil sands...
View ArticleIran’s oil production at risk of collapse due to Trump sanctions
Iran’s oil production faces a potential collapse of up to 1.2 million barrels per day this year due to tighter US sanctions, putting the country’s exports to its biggest customer China under immense...
View ArticleOil set for third straight weekly gain on supply concerns
Oil prices rose on Friday and were on track for a third straight week of gains as traders focused on potential supply disruptions from sanctions while icy conditions in parts of the United States and...
View ArticleChevron Bolsters U.S. Gulf of Mexico Production With Whale Facility Startup
Chevron Corporation (NYSE: CVX) today announced the start of oil production from the Whale semi-submersible platform in the deepwater U.S. Gulf of Mexico. Chevron U.S.A. Inc., a wholly owned subsidiary...
View ArticleMiddle East Crude-Benchmarks rise, Dubai and Oman at one-week high
Middle East crude benchmark premiums all rose on Friday, with that of Oman and Dubai reversing declines from the previous session to hit one-week highs. Oil prices rose on the day and were on track for...
View ArticleVenezuelan inauguration seen as possible turning point for US oil sanctions...
The Venezuelan people are bracing for chaos as both the incumbent President Nicolás Maduro and President-elect Edmundo González Urrutia prepare to be sworn in at the country’s Jan. 10 inauguration, the...
View ArticleFive themes shaping the energy world in 2025
What opportunities, challenges and risks does the world of energy and natural resources face in 2025? Our experts share their thoughts. 1. Brave new world Geopolitics, trade and the energy transition:...
View ArticleCiti Raises 1Q Crude Oil Price Estimates
The upward momentum in crude oil prices at the start of the year has prompted analysts at Citi Research to raise their first-quarter estimate for benchmark crudes, while they remain bearish for the...
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