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News

Venezuela In Talks With Oilfield Services Firms To Revive Oil Production

Venezuela In Talks With Oilfield Services Firms To Revive Oil Production

Nov 06, 2023 at 09:01 | Charles Kennedy

After the sanctions relief from the U.S. last month, Venezuela is in contact with domestic and international oilfield services providers to help it ramp up crude oil production,…

European Natural Gas Demand Shows Signs Of Recovery

European Natural Gas Demand Shows Signs Of Recovery

Nov 06, 2023 at 08:28 | Tsvetana Paraskova

Europe’s natural gas demand could begin to rise this winter with higher electricity consumption in major markets and easing industrial demand destruction in the Eurozone, analysts and industry…

Equinor To Fast-Track New Discovery To Bring Natural Gas To Europe In 2023

Equinor To Fast-Track New Discovery To Bring Natural Gas To Europe In 2023

Nov 06, 2023 at 07:28 | Charles Kennedy

Equinor announced on Monday a new commercially viable gas discovery near a producing field that can be brought online and deliver gas to Europe as early as this…

UK Speeds Up Grid Connection For 20 GW Of Clean Energy

UK Speeds Up Grid Connection For 20 GW Of Clean Energy

Nov 06, 2023 at 06:30 | Tsvetana Paraskova

National Grid, the UK’s power systems operator, is accelerating the connection of up to 20 gigawatts (GW) of clean energy projects to its electricity transmission and distribution networks…

Saudi Arabia Pauses Price Hikes Of Its Flagship Crude To Asia

Saudi Arabia Pauses Price Hikes Of Its Flagship Crude To Asia

Nov 06, 2023 at 04:37 | Tsvetana Paraskova

Saudi Arabia kept the price of its flagship crude grade for shipping to Asia in December unchanged from November’s pricing in a widely expected move amid weakening refining…

Sinopec Inks Long-Term LNG Deal With QatarEnergy

Sinopec Inks Long-Term LNG Deal With QatarEnergy

Nov 06, 2023 at 03:08 | Irina Slav

China’s Sinopec has become the latest energy major to seal a 27-year LNG supply deal with QatarEnergy, for volumes of 3 million tons annually once the second phase…

UK Seeks To Mandate Annual Oil And Gas Licensing Rounds In The North Sea

UK Seeks To Mandate Annual Oil And Gas Licensing Rounds In The North Sea

Nov 06, 2023 at 01:52 | Irina Slav

The UK government is working on legislation that would make annual oil and gas licensing rounds for the North Sea mandatory. Under the plans, a licensing round would…

Saudi Arabia And Russia Will Stick To Oil Production And Export Cuts

Saudi Arabia And Russia Will Stick To Oil Production And Export Cuts

Nov 06, 2023 at 00:56 | Irina Slav

Saudi Arabia and Russia have confirmed they will extend their voluntary production and export cuts until the end of the year in a largely expected move to keep…

Canada's Trans Mountain Pipeline Faces New Delays

Canada's Trans Mountain Pipeline Faces New Delays

Nov 03, 2023 at 13:42 | Julianne Geiger

Canada’s energy regulator ordered Trans Mountain Corp to stop work on the Trans Mountain pipeline in a wetland area in British Columbia, according to a notice on Canada Energy Regulator’s…

Economy Minister Confident Germany Could Phase Out Coal By 2030

Economy Minister Confident Germany Could Phase Out Coal By 2030

Nov 03, 2023 at 11:52 | Charles Kennedy

Germany continues to target phasing out coal by 2030, German Economy Minister Robert Habeck of the Green party told Bloomberg TV in an interview on Friday. Germany has decided…

Higher Profit-Based Tax Doubles Russia’s Oil And Gas Revenues

Higher Profit-Based Tax Doubles Russia’s Oil And Gas Revenues

Nov 03, 2023 at 10:42 | Charles Kennedy

Russia’s oil and gas revenues jumped in October, due to a cyclical surge in the profit-based tax, and more than doubled from September to $17.6 billion (1.635 trillion Russian rubles),…

India’s October Coal Production Jumps 19%

India’s October Coal Production Jumps 19%

Nov 03, 2023 at 09:02 | Charles Kennedy

India’s coal production jumped by 18.59% to 78.65 million tons in October compared to the same month last year, data from the Indian Ministry of Coal showed

Russian Diesel Shipments Drop 11% In October Due To The Export Ban

Russian Diesel Shipments Drop 11% In October Due To The Export Ban

Nov 03, 2023 at 08:37 | Tsvetana Paraskova

The temporary ban on exports of Russian diesel and heavy refinery maintenance reduced Russia’s diesel exports by sea by 11% in October compared to September, according to data…

China Reluctant To Sign Long-Term U.S. LNG Supply Deals Amid Trade Spat

China Reluctant To Sign Long-Term U.S. LNG Supply Deals Amid Trade Spat

Nov 03, 2023 at 07:31 | Tsvetana Paraskova

China doesn’t welcome the signing of more long-term LNG supply deals between Chinese state-owned natural gas giants and U.S. exporters as the tensions between the world’s top two…

Equinor Finds More Oil And Gas Near One Of The North Sea’s Largest Fields

Equinor Finds More Oil And Gas Near One Of The North Sea’s Largest Fields

Nov 03, 2023 at 06:33 | Tsvetana Paraskova

Energy major Equinor has made an oil and gas discovery near Oseberg, one of the top fields offshore Norway, which could add additional resources to the field, the…

Japan’s Energy Security Could Suffer From Fresh U.S. Sanctions On Russian LNG

Japan’s Energy Security Could Suffer From Fresh U.S. Sanctions On Russian LNG

Nov 03, 2023 at 06:24 | Tsvetana Paraskova

Japan’s energy security could be undermined as the U.S. imposed on Thursday fresh sanctions on Russia’s Arctic LNG 2 project, which is close to first production. The Arctic…

Oil Prices Set For A Second Consecutive Weekly Loss As War Premium Fades

Oil Prices Set For A Second Consecutive Weekly Loss As War Premium Fades

Nov 03, 2023 at 04:51 | Irina Slav

Crude oil prices looked set for a second weekly decline as the war premium stemming from the conflict in the Middle East continued to lose its hold over…

Russia Has No Plans To Lift Its Fuel Export Ban

Russia Has No Plans To Lift Its Fuel Export Ban

Nov 03, 2023 at 03:44 | Irina Slav

Russia has no immediate plans of lifting a partial ban on fuel exports introduced in September until part of the volumes that Russian refineries churn out “have nowhere…

Natural Gas Flows From Israel To Egypt Resume

Natural Gas Flows From Israel To Egypt Resume

Nov 03, 2023 at 02:36 | Charles Kennedy

Natural gas deliveries from Israel to Egypt have restarted, after several days of no imports at all due to war-related disruptions. Bloomberg cited unnamed sources in the…

Airlines Hedging Oil To Protect Against Geopolitical Turmoil

Airlines Hedging Oil To Protect Against Geopolitical Turmoil

Nov 02, 2023 at 14:04 | Julianne Geiger

Airlines—who has massive jet fuel bills—have been buying oil derivatives contracts to insulate themselves from the rising cost of crude oil and oil products courtesy of geopolitical tensions in the…

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