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(Reuters) – OPEC cut its estimate for China’s crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively optimistic given the reality of falling imports. The latest monthly report by Organization of the Petroleum Exporting Countries (OPEC) said China’s crude oil demand will expand by …
OPEC Trims Its China Crude Demand Forecast, but Nowhere Near Enough Read More »
(Reuters) – The Russian General Prosecutor’s office was seeking to collect more than 1 billion euro ($1.09 billion) in damages from international energy major Shell the RIA news agency reported on Tuesday, citing the Moscow Arbitration court. Russia’s Prosecutor General earlier this month filed a lawsuit against eight units of Shell, which quit Russia following the start …
Russia Seeks Over $1 Billion in Damages From Shell, Report Says Read More »
TotalEnergies expects lower Q3 results amid outages, shrinking refining margins PARIS, Oct 15 (Reuters) – French oil major TotalEnergies expects its third-quarter downstream results to sharply decrease due to a 65% drop in refining margins in Europe and elsewhere, the company said on Tuesday amid a drop in global oil prices. TotalEnergies’ shares were around …
TotalEnergies Expects Lower Q3 Results Amid Outages, Shrinking Refining Margins Read More »
(Reuters) – India needs to explore the need for a production-linked incentive (PLI) scheme to improve its renewable energy transmission capacity, power secretary Pankaj Agarwal said at an event on Monday. “We need to think about how we should localize supply chain for transmission equipment,” Agarwal said, adding that 1,650 gigawatts (GW) of global renewable …
(Reuters) – OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next year, marking the producer group’s third consecutive downward revision. The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise …
OPEC Cuts 2024, 2025 Global Oil Demand Growth View Again Read More »
Japan is considering stepping up purchases of liquefied natural gas (LNG) for emergency needs to at least 12 cargoes a year from three now, an official of its industry ministry said, to guard against unexpected supply shocks. The reserve-boosting plan entails additional purchases by the world’s second biggest buyer of LNG after China, increasing its …
By Nia Williams Summary AECO gas prices hit a two-year low in late September on strong supply, brimming storage inventories Producers curtail up to 1 bcf/d due to low prices LNG Canada export facility due to start operating next year (Reuters) – A huge liquefied natural gas export terminal led by Shell called LNG Canada, may …
Canadian Natural Gas Firms Eager for LNG Boom Swamp Market with Excess Supply Read More »
By Reuters (Reuters) – An ExxonMobil-led consortium will move to the second phase of seismic research for gas exploration in a block off the Greek island of Crete, Greece said on Thursday. Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) said that the consortium of ExxonMobil and Hellenic Energy have acquired a total of 7,789 kilometres …
ExxonMobil-Led Consortium to Continue Seismic Research for Gas off Crete, Says Greece Read More »
The Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf, is rarely far from the center of global tensions. A major shipping route that handles almost 30% of the world’s oil trade, it’s closely watched for signs of disruption. The escalating conflict between Iran and Israel has again raised concerns that shipping through the vital waterway …
Why the Strait of Hormuz Is a Focus of Worry Again Read More »
By Reuters (Reuters) – Geopolitical risk premium gauges in the oil market have decreased slightly this week, following sharp increases last week in both Brent implied volatility and call options implied volatility skew, Goldman Sachs said. Oil prices steadied in Asian trading as traders weighed developments in the Middle East conflict against continued bearish expectations for …
Geopolitical Risk Premium in Oil market Slips Slightly, Goldman Sachs Says Read More »
