Gas Prices Could Rocket in the Near Term
Gas prices could rocket in the near term if Russia implements shutoffs to more countries. If Russia implements gas shutoffs to more countries unwilling to pay in Rubles, in addition Continue Reading
NYMEX Henry Hub gas rises to mid-$7/MMBtu level amid lingering supply concerns
Winter 2022-2023 prices approach $8/MMBtu US production averages 93.2 Bcf/d in April US gas storage deficit widens to over 300 Bcf US gas futures prices edged back toward the mid-$7/MMBtu Continue Reading
No let off to oil prices as Russia barrels disappear from market
BP does not expect any let off in oil prices in the near term as the volume of Russian oil impacted by Western sanctions was expected to double, Chief Executive Continue Reading
Facing a Wheat Crisis, Countries Race to Remake an Entire Market on the Fly
The war in Ukraine was barely a month old when Augusto Bassanini, chief executive of United Grain Corp., received an unusual signal from the global wheat market. The Washington-based grain Continue Reading
OPEC Has Missed Its Oil Output Target Once Again
Force majeure in Libya and under-production in Nigeria have led to a much lower increase in OPEC production for the month of April than was called for by the cartel’s Continue Reading
Iran Moves Ahead With $500 Million South Pars Oil Development Deal
Iran is set to move ahead with a $500 million deal for the production, development, and enhanced oil recovery from the South Pars oilfield. The project will introduce new horizontal Continue Reading
Manufacturers’ Mood Darkens After Deadly South African Floods
A gauge measuring South African manufacturing sentiment dropped the most in nine months in April after the worst flooding in almost three decades left more than 400 people dead, damaged Continue Reading
Horn of Africa ravaged by worst drought in four decades
When the last of his 250 goats died, pastoralist Abdullahi Abdi Wali knew it was time to flee what he calls the “worst drought” in his 99 years of life. Continue Reading
Nigeria: Again, Nigeria Cuts Oil Production Losses From Sabotage, Assets’ Breakdowns, Force Majeure in March
Nigeria recorded significantly less oil production losses in the February/March drilling cycle, with shutdowns arising from sabotage, force majeure, crude production assets’ breakdowns and community issues markedly down to 1.69 Continue Reading
India sets end-June coal import targets as power woes mount
India has asked state and private sector utilities to ensure delivery of 19 million tonnes of coal from overseas by end-June, according to a power ministry letter, reflecting an urgency Continue Reading