GTA LNG project reaches significant milestone with arrival of FPSO vessel
The floating production storage and offloading (FPSO) vessel, a key component of the Greater Tortue Ahmeyim (GTA) Phase 1 LNG development, has arrived at its final location offshore on the maritime...
View ArticleU.S. natural gas prices calmed after a volatile 2022
As average prices of U.S. natural gas fell in 2023, natural gas prices also became less volatile compared with 2022. Historical volatility, a measure of daily price changes relative to average prices,...
View ArticleThe Commodities Feed: Oil sell-off overdone
Energy – Oil sell-off overdone Sentiment in the oil market continues to weaken. ICE Brent came under further pressure yesterday, settling more than 1% lower and taking prices below $78/bbl. A bearish...
View ArticleOil linked long-term LNG contract prices to continue to fall in buyers’...
Long-term LNG contract prices of around 12% indexation to Brent oil should continue to fall as current offers are comparable to the contracts signed in 2017–19 when the global LNG market was in an...
View ArticleOil eases as US crude, fuel stock builds bolster demand jitters
Oil prices edged lower on Wednesday as a surprise build in U.S. crude stocks and larger-than-expected rise in fuel stocks fuelled demand concerns amid worries of a rise in supply later this year. Brent...
View ArticleMiddle East Crude-Benchmarks recover ahead of Saudi OSPs
Middle East crude benchmarks Oman, Dubai and Murban recovered on Wednesday, although their premiums to Dubai swaps stayed under $1 a barrel ahead of Saudi official selling price (OSP) announcement. The...
View ArticleUS crude, fuel stockpiles rise as refining ramps up, EIA says
U.S. crude oil stockpiles rose unexpectedly last week, while gasolineand distillate inventories increased as refining continued to ramp up, the Energy Information Administration (EIA) said on...
View ArticleGrowing Demand to Increase Upstream Oil & Gas Investment Needs 22% by 2030
Annual upstream oil and gas capital expenditures will need to rise by 22 percent by 2030 to ensure adequate supplies due to growing demand and cost inflation, according to a new report by the...
View ArticleINTERVIEW: EU expects to finalize 14th Russian sanctions including LNG in...
The European Union expects to finalize its 14th sanctions package against Russia in June, with measures targeting transshipments of Russian LNG as well as three LNG projects including Arctic LNG 2,...
View ArticleOil extends gains with September Fed rate cut in focus
Oil extended gains on Thursday, as support from growing expectations of an interest rate cut from the U.S. Federal Reserve in September outweighed higher U.S. inventories and OPEC+ plans to gradually...
View ArticleUAE committed to OPEC+, consumers and the market, minister says
The United Arab Emirates has been committed to OPEC+, consumers and the market despite some media reports suggesting otherwise, energy minister Suhail Al Mazrouei told a panel in Russia’s St....
View ArticleOPEC head rejects criticism over oil deal, says demand is good
OPEC Secretary General Haitham Al Ghais on Thursday defended the recent adjustments to the OPEC+ oil output deal, calling it a success. Speaking at an economic forum in St Petersburg, Russia, Al Ghais...
View ArticleOil up after European and Denmark central bank rate cuts
Oil prices rose on Thursday as the European Central Bank cut interest rates for the first time in roughly five years, and Denmark’s central bank followed with its own rate cut. Brent crude futures were...
View ArticleSaudi Arabia cuts July Arab Light crude oil OSP to Asia
Saudi Arabia set its flagship Arab Light crude oil official selling price (OSP) to Asia at plus $2.40 versus Oman/Dubai average for July, a document seen by Reuters showed on Wednesday. That marks a 50...
View ArticleInvestment in clean energy this year is set to be twice the amount going to...
Despite pressures on financing, global investment in clean energy is set to reach almost double the amount going to fossil fuels in 2024, helped by improving supply chains and lower costs for clean...
View ArticleMiddle East Crude-Benchmarks little changed after Saudi cuts OSPs
Middle East crude benchmarks Dubai, Oman and Murban were little changed on Thursday, with spot premiums hovering around $1 a barrel, depressed by weak refining margins and after Saudi Arabia cut prices...
View ArticleOPEC+ could tweak oil pact if needed, ministers say
OPEC+ could tweak its latest oil output agreement which calls for some output cuts to be reversed later this year if needed to support the market, top OPEC+ ministers said on Thursday after a bearish...
View ArticleBP’s new Azerbaijan oil facility to take ‘couple of years’ to ramp up:...
BP expects the ramp-up of its state-of-the-art Azeri Central East oil facility in the Caspian Sea to take around two years, and may look at adding more facilities in the future, upstream senior vice...
View ArticleCanada’s oil sands CEOs push back against proposed oil and gas emissions cap
Canada’s biggest oil sands producers support a paying a tax on carbon but see a proposed federal oil and gas emissions cap as unnecessary legislation, the companies’ CEOs told lawmakers in Ottawa....
View ArticleUS oil and gas rig count falls to lowest since January 2022 -Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating to the lowest since January 2022, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed...
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