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Daily News

Category:
  • Prices

ICE Brent crude futures hover at 2-month high amid tight supply

 Near-term outlook remains bullish amid tight supply US economic data eases recession fears amid central bank tightening Crude oil futures were higher in mid-morning Asian trade May 27, with the Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Prices

Oil on track for weekly rise amid global supply concerns

Oil prices rose on Friday and were on track for weekly gains, supported by a prospect of a tight market due to rising gasoline consumption in the United States in Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Gains as US Stockpiles Tighten Ahead of Driving Season

Oil rose for a second day after US crude and gasoline stockpiles declined further as motorists prepare to take to the road for the summer driving season. West Texas Intermediate Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Prices

Oil snaps inverse dollar link leaving little to check its bull run

 Oil’s bull run is taking little notice of the strong U.S. dollar, breaking crude’s historical inverse link to the greenback and giving analysts confidence it has further to go based Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Electricity

One Billion People Are At Risk Of Rolling Blackouts This Summer

This summer, power grids worldwide won’t produce enough electricity to meet the soaring demand, threatening more than one billion people with rolling blackouts. Grids are stretched thin by fossil fuel Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • OPEC

OPEC+ set to stick to modest output hike for July, sources say

 OPEC+ is set to stick to an oil production deal agreed last year at its meeting on June 2 and raise July output targets by 432,000 barrels per day, six Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • OPEC

OPEC+ Unlikely To Boost Oil Production More Than Planned

The OPEC+ group is expected to rubberstamp next week its moderate monthly increases in oil production when it decides output levels for July, six sources at OPEC+ told Reuters on Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria Doubles Gasoline Subsidy Costs on War in Ukraine

Buildings destroyed during the Russian invasion wait to be renovated or demolished in Irpin, Ukraine on May 26. Photographer: Christopher Furlong/Getty Images Africa’s largest crude producer doubled its spending on Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Mexico

Pemex crude production hits new low in April amid global tightness

Highlights Pemex produced 1.5 million b/d of crude in April, the lowest since the 1970s Private operators continue to show good results Natural gas production rises slightly Crude production at Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • China
  • coronavirus

How Will China’s Covid Containment Policy Affect Emerging Markets?

China’s strict Covid-19 containment strategy is suppressing the country’s consumer demand and manufacturing output. The economic slowdown caused by this containment strategy poses a challenge for emerging economies that export Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • LNG
  • USA

FID For $13.2B Louisiana LNG Project

This transaction represents the largest project financing in the world closed to date in 2022. Venture Global LNG has announced the successful closing of the $13.2 billion project financing for Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Japan

In home of world’s biggest nuclear plant, a vote may shape Japan’s atomic future

Three days before a vote to choose their region’s next governor, a handful of residents in Kashiwazaki, a sleepy coastal town in northern Japan, stood by a road to hear Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • China
  • Russia

China’s Top Oil Trader Hires More Tankers to Ship Russian Crude

China’s oil trading giant Unipec has significantly increased the number of hired tankers to ship a key crude from eastern Russia. China International United Petroleum & Chemical Co., better known Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Australia

How Australia Is Transforming Grids Away From Coal Power

The invasion of Ukraine has put the US and Europe on a wartime mission to abandon Russian fossil fuels. This series looks at speeding up zero-carbon alternatives by lowering political Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • China

CHINA DATA: May crude throughput to fall from two-year low on weak demand, maintenance

Highlights Utilizations only rise in low-risk regions like Sichuan Refining margin up on cheap feedstock, but domestic sales slow More export quotas to ease stock pressure China’s crude throughput is Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Air Lines

Is Pandemic Pain Finally Over For The Airline Industry?

Flight bookings are finally bouncing back to pre-pandemic levels, providing some much-needed good news for airline companies that have struggled to survive two years of demand destruction. A recent report Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Shale Oil

Rystad: Oil And Gas Investment To Rise 20% In 2022

Rystad: Global oil and gas investment is set to rise by 20% this year. In the United States, investment in shale is set to increase by 35%. Oil frontiers like Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Gulf Of Mexico

Gulf of Mexico update

Through 2021 the federal waters of the northern Gulf of Mexico (OCS) have cumulative production of 23.4 Bbo and 193 Tcf. The deepwater (water depths > 1000’ as defined by Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Offshore

Offshore oil rig rates lifted by pandemic recovery, race to replace Russian crude

Rental rates for offshore oil and gas rigs have rocketed higher, boosted by a race to lift production because of the war in Ukraine and a recovery in demand after Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Prices
  • USA

Gas Prices Are Surging, Demand Is Slipping Ahead of Memorial Day Weekend

Record high gas prices are starting to take a toll on the American consumer. Demand for gasoline in mid-May fell to one of its lowest levels for this time of Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Shale Oil

Permian Frackers Blame Supply Chain Bottlenecks For Stymied Growth

The Permian is expected to be the main driver of U.S. production growth in 2022. Supply chain snarls are starting to weigh on Permian production growth. Oilfield service companies are Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Prices

Why You Should Care About The Price Of Diesel

The price of gasoline is considered one of the most important indicators for everything from the health of the national economy to the President’s approval, but diesel plays a more Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Prices
  • USA

Weak Demand Takes Gas Out of Pump Prices

Since Monday, the national average for a gallon of regular gasoline has increased by a penny to $4.60. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • United Kingdom

UK Oil Windfall Tax Prompts BP to Review Investment Plans

Windfall Taxes Will Raise Price of Crude, Analyst Sen Says BP Plc said it will look again at its plans in the UK, raising questions about whether a £5 billion Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • United Kingdom

UK Oil Windfall Tax Prompts BP to Review Investment Plans

Windfall Taxes Will Raise Price of Crude, Analyst Sen Says BP Plc said it will look again at its plans in the UK, raising questions about whether a £5 billion Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • United Kingdom

Britons’ Disposable Income Falling by Most Since 2008, Asda Says

UK’s Sunak Set to Unveil Cost of Living Support UK households’ disposable income has fallen by the most since 2008, according to grocer Asda Group Ltd. , underlining the extent Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Russia

Novak Sees Russia Oil Output Shrinking 8%

Russian Deputy PM Novak sees crude oil production fall by around 8% in 2022. Novak: The total oil output of the country this year could be between 480 and 500 Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Spain

Spain Initiates Energy Austerity With Air Conditioning Limits

Spain passed a decree this week limiting the use of air conditioning in public buildings as part of a strategy to conserve energy and reduce Europe’s dependence on Russian gas. Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Russia

Here’s How Russian Crude Is Finding Its Way To Customers

Small tankers and ship-to-ship transfers are being used to keep the flow of Russian oil to China steady, Bloomberg reported this week, citing sources from the brokering industry. Typically, the Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • p-

Germany, US energy partnership includes agreements on off-shore wind and hydrogen: German minister

BERLIN, May 27 (Reuters) – An energy partnership between Germany and the United States includes expanding off-shore wind power generation and co-operation on using hydrogen in industrial production, German economy Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • p-

Central Europe’s Huge Gas Depot Risks Being Empty Next Winter

The Haidach underground storage depot near Austria’s border with Germany. Credit: RAG AGSource: RAG AG Conflict between Russia and Germany risks leaving one of central Europe’s biggest natural gas depots Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • p-

Little-Known Commodity Traders Help Russia Sell Oil

An oil-storage tank operated by Rosneft in Tuapse, Russia. The European Union has blocked its companies from doing most business with the Russian producer. A group of under-the-radar commodity traders Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • p-

Europe plans for risk that Russia cuts gas supply this year

Europe is developing contingency plans in case of a complete halt to Russian gas imports, the EU’s energy commissioner said, as she warned that any country was at risk of Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • p-

Germany, US sign energy, climate partnership, reiterate 30% global methane cut goal 2030

Highlights Climate important part of new energy partnership focused on LNG Long-term LNG contracts unlikely longer than 15 years: Habeck Working groups on hydrogen, offshore wind, zero emissions vehicles Germany Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • p-

Windfall Tax Branded a Backward Step

The industry has called for an Energy Summit involving Downing Street, the Chancellor and leaders from the UK’s offshore energy operators and supply chains. The new taxes imposed on the Continue Reading

Posted On : 27 May 2022 Published By : Tom Whipple
Category:
  • Prices
  • USA

Natural-Gas Prices Surge as Summer Cooling Season Switches On

Natural-gas prices are heating up ahead of air-conditioning season, adding pressure to household budgets and manufacturing costs. Futures for June delivery reached $9.399 per million British thermal units on Wednesday Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Prices

Oil climbs on tight supply, though EU ban on Russian supply still uncertain

 Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Gains as US Stockpiles Tighten Ahead of Driving Season

Oil rose for a second day after US crude and gasoline stockpiles declined further as motorists prepare to take to the road for the summer driving season. West Texas Intermediate Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Prices

Crude futures rise on US stock draw; Russian oil output recovery caps gains

US crude, gasoline stocks decline: EIA Russian oil output recovery, US reserve release cap prices Brent to fall to $95/b by year-end: Commerzbank Crude oil futures were higher in mid-morning Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Prices

Natural Gas Tops $9 in US as Supply Crunch Concerns Mount

 Natural gas briefly surged above $9 per million British thermal units in the US for the first time since 2008, extending a breakneck rally as fears of a supply crunch Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Prices
  • USA

Oil Climbs as Report Shows Tightening US Gasoline Stockpiles

IEA’s Birol Says Oil Prices May Rise Further Oil rose after a two-day decline as an industry report showed US gasoline stockpiles shrunk further ahead of the summer driving season Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • LNG

Global LNG markets brace for unknowns ahead of winter

Global liquefied natural gas (LNG) buyers and sellers are bracing for more uncertainty over Russian supplies and a murky demand outlook from Europe and top importer China in the run-up Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Iran
  • Russia

Russia and Iran discuss swapping supplies for oil and gas, goods logistics

Russia and Iran have discussed swapping supplies for oil and gas as well as setting up a logistics hub, Russian Deputy Prime Minister Alexander Novak said on Wednesday, as Moscow Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Iran
  • Russia

Iranian-Russian ‘Oil Smuggling’ Network Hit With U.S. Sanctions

Washington has imposed sanctions on an oil smuggling network led by figures connected to Iran’s Revolutionary Guards and allegedly backed by the Russian government. “Today, the U.S. is sanctioning an Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Iran

US Treasury cracks down on oil smuggling network aiding Iran, with ties to Russia

Hundreds of millions of dollars of oil revenue evaded sanctions Also aided Iranian petrochemical sales, gold transfers US authorities May 25 announced new sanctions on several individuals and entities involved Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia’s Oil Exports Hit The Highest Level Since 2016

Saudi Arabia’s crude production rose to 10.3 million barrels a day in March. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Saudi Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Iraq
  • Saudi Arabia

Could Iraq Dethrone Saudi Arabia As Largest Oil Producer?

Iraq remains one of the most underdeveloped oil producers in the Middle East. EIA: Iraq holds a very conservatively estimated 145 billion barrels of proved crude oil reserves. At $2-3 Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • Iran
  • USA

U.S. Sees Chances Of Iran Nuclear Deal As Slim

The chances of the world powers reaching a deal with Iran on its nuclear activities that would pave the way toward the removal of the U.S. sanctions on Iranian oil Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • India
  • Russia

India to continue buying ‘cheap’ Russian oil, discount to be finalised – source

 India will continue to buy “cheap oil” from Russia but has not finalised terms of the discount, a senior government official familiar with the matter said on Wednesday. “We will Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple
Category:
  • India

India heat wave: Axing coal imports proving to be a costly affair

The Indian government’s latest decision to penalize power plants for not importing coal is a stark contrast to the stance it took a couple of years ago, when it was Continue Reading

Posted On : 26 May 2022 Published By : Tom Whipple

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