IEA Director: Price Cap On Russian Oil Should Extend To Fuels
The G7 idea to place a price cap on Russian oil should include a cap on the prices of gasoline and diesel, too, Fatih Birol, Executive Director of the International Continue Reading
Global refinery runs rise in June, but fail to keep up with demand: IEA
Outages, tight spare capacity affect throughput Cracks remain elevated, apart from naphtha Global refinery runs rose in June as maintenance wound down, but a number of outages and tight spare Continue Reading
Renewables’ edge over fossil fuels will be ‘unprecedented’ in 2022, IRENA says
The advantage of renewables over crude oil and natural gas will be “unprecedented” in 2022 as costs may be higher but far below gains seen in prices of fossil fuels, Continue Reading
OPEC Remains 1 Million Bpd Below Target
The ten OPEC producers in the OPEC+ pact pumped 24.8 million barrels per day (bpd) of crude oil in June, OPEC data showed on Tuesday, with production falling 1 million Continue Reading
OPEC sees slower 2023 oil demand growth, no big shale gain
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen inside its headquarters in Vienna, Austria, December 7, 2018. REUTERS/Leonhard Foeger/ World demand growth to slow to Continue Reading
Libyan Oil Crisis Intensifies With Attempt to Remove NOC Board
Libya’s government in Tripoli has reportedly appointed a new board to govern the National Oil Company (NOC), with interim Government of National Unity prime minister dismissing long-time chairman Mustafa Sanalla Continue Reading
Nigeria: With 614,000bpd June Underperformance, Nigeria’s Oil Losses Exceed $2bn
Out of the 1.772 million barrels per day crude oil allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC) in June, Nigeria was only able to produce Continue Reading
Libya’s NOC lifts force majeure on exports from Zueitina, Brega terminals
Highlights Oil terminals opened to allow tanker to carry condensate Libya’s oil supply crisis has slashed output by more than half It pumped 650,000 b/d in June, lowest since Oct Continue Reading
World’s Second-Largest LNG Importer Calls On U.S. To Increase Supply
Japan, the world’s second-largest LNG importer, urged the United States and Australia on Tuesday to boost production and deliveries to ensure enough supply of the hottest energy commodity. “ I Continue Reading
China’s surging hydropower a boon for its climate goals, energy bills
A surge in hydropower output in China this year, boosted by record-breaking rainfall, is helping the world’s biggest polluter meet green targets as well as cut liquefied natural gas imports Continue Reading