September 2023

World Petroleum Council Introduces New Name at 24WPC in Calgary CALGARY, Alberta, Sept. 20, 2023 (GLOBE NEWSWIRE) — WPC Energy, formerly World Petroleum Council, announced this week the official MOU signed by HRH Prince Abdulaziz Bin Salman Al Saud, Minister of Energy Saudi Arabia and WPC Energy President Pedro Miras. The MOU signing officially passes …

Saudi Arabia Signs Official MOU to Host and Organize the 25th World Petroleum Congress Read More »

By Marcus Lu Courtesy of Visual Capitalist – See More From Visual Capitalist HERE Visualized: The Climate Targets of Fortune 500 Companies View the high-resolution version of this infographic by clicking here The Fortune Global 500 is a ranking of the world’s 500 largest companies by revenue. In 2019, this influential group employed 70 million people and generated revenues …

INFOGRAPHIC: Visualizing the Climate Targets of Fortune 500 Companies – Visual Capitalist Read More »

The latest round of talks between Chevron and unions at its two liquefied natural gas (LNG) facilities in Western Australia ended on Wednesday without a deal, a Chevron spokesperson said, leaving the fate of strikes at the major export facilities in the hands of a workplace tribunal set to meet on Friday. Chevron Australia said despite “meaningful …

Chevron, Unions Again Fail to Reach Deal to Halt Australian LNG Strikes Read More »

Summary Potential for market distortion reduced, analysts say Rival benchmarks brought closer together U.S. companies, traders could have more influence Effort underway to create a WTI loading programme, source says LONDON, Sept 20 (Reuters) – Increased exports of oil from the United States into Europe and Asia mean U.S. crude has snatched back its primacy …

ANALYSIS: Promise of Calmer Markets as U.S. Oil Wrests Pricing Power From Brent Read More »

LONDON, Sept 20 (Reuters) – Oil prices fell by more than $1 on Wednesday ahead of the U.S. Federal Reserve’s interest rate decision, with investors uncertain when peak rates will be hit and how much of an impact it will have on energy demand. Investors are awaiting the Fed’s interest rate decision at 1800 GMT …

Oil Falls More Than $1 Ahead of Fed Rate Decision Read More »

Goldman Sachs Group Inc. rejoined the $100-a-barrel oil club, raising its forecast for crude back to triple digits as worldwide demand hits unprecedented levels and OPEC+ supply curbs continue to tighten the market. With prices advancing by more than 30% since mid-June to breach $95 a barrel on Tuesday, the Wall Street bank nudged up …

Goldman Raises Brent Oil Forecast to $100 as Rally Builds Read More »

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Saudi Arabia’s oil minister denied the kingdom’s recent production cuts have been intended to boost prices, in remarks at the World Petroleum Congress in Calgary on Sept. 18. “It’s not about . . . jacking up prices, it’s about making the decisions that are right when we have the data,” he said. Energy Minister Prince Abdulaziz bin Salman cited …

Saudi Oil Minister Deflects Blame for Rising Prices: John Kemp Read More »

With oil investors and traders focused on an oil-price rally that has come close to $100 a barrel, some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply. The outright price of Nigerian crude Qua Iboe surpassed $100 a barrel on Monday, according to LSEG data. Malaysian crude …

Will Oil Hit $100? It Already Did in Some Markets Read More »

Summary Companies Pressure growing on shipping sector to decarbonise faster Nuclear fuel options being seen as cleanest solution Any nuclear solutions seen at least 10 years away LONDON, Sept 19 (Reuters) – The maritime industry is exploring whether nuclear fuel can be used to power commercial ships as advancements in technology open up such options, …

Maritime Industry Explores Nuclear Power For ships as Technology Opens Up Read More »