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Saudi Arabia’s crude oil exports in November climbed to their highest level in five months and marked a third straight rise, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Crude exports from the world’s largest oil exporter rose 0.6% to 6.336 million barrels per day (bpd) from 6.297 million bpd in October. …
Saudi Arabia’s November Crude Exports Hit 5-Month High Read More »
Chevron Corp. has begun marketing its Duvernay shale holdings in Alberta as the oil giant divests assets following its agreement to buy Hess Corp. Chevron plans to shed all of its 70% stake in the Western Alberta oil and natural gas play, spokesman Braden Reddall said in an email. Other assets in Canada won’t be …
Chevron Seeks to Sell Canadian Duvernay Shale Assets After Hess Purchase Read More »
BEIJING, Jan 20 (Reuters) – Russia leapfrogged Saudi Arabia to become China’s top crude oil supplier in 2023, data showed on Saturday, as the world’s biggest crude importer defied Western sanctions to purchase vast quantities of discounted oil for its processing plants. Russia shipped a record 107.02 million metric tons of crude oil to China …
China Defies Sanctions to Make Russia its Biggest Oil Supplier in 2023 Read More »
Source: Equinor Climate activists won a court case in Norway against the state over development plans at a handful of oil and gas fields under the sea off the Nordic country’s coast. Greenpeace Norway and Young Friends of the Earth argued that development plans at the Breidablikk, Tyrving and Yggdrasil fields, approved by the ministry …
Norway Loses Court Battle With Climate Groups on Oil Fields Read More »
The annual share of OPEC’s oil in India’s crude imports fell to its lowest level ever in 2023 while that of discounted Russian barrels surged to an all-time high, data obtained from trade and industry sources show. India, the world’s third-biggest oil importer and consumer, has long relied on the nearby middle eastern nations for …
Cheap Russian Oil Cuts OPEC’s Share of India Imports to Record-Low 50% Read More »
Summary Raises demand growth projection by 180,000 bpd World supply growth in 2024 to exceed demand growth IEA demand forecast remains lower than OPEC’s projection Sees supply surplus in Q2 if OPEC+ unwinds cuts LONDON, Jan 18 (Reuters) – The International Energy Agency (IEA) has again raised its 2024 global oil demand growth forecast, though …
IEA Raises 2024 Oil Demand Forecast But Lags OPEC View Read More »
Global prices of gas and liquefied natural gas (LNG) are expected to remain relatively weak in 2024, with demand subdued due to high storage levels in Europe and Asia and a mild Northern Hemisphere winter, consultancy Wood Mackenzie said on Wednesday. “Wood Mackenzie has been forecasting lower 2024 prices for much of last year, especially compared …
Global Gas, LNG Prices to Remain Relatively Weak in 2024 Amid Subdued Demand – WoodMac Read More »
Summary Auchincloss was interim CEO Says he will continue BP’s strategy Shares have underperformed rivals since Looney’s departure (Reuters) – BP interim boss Murray Auchincloss was named permanent CEO on Wednesday, pledging to stick with energy transition plans as the board seeks to steady the company which was rocked by the sudden resignation of Bernard Looney …
BP’s Auchincloss Named CEO, Reaffirms Energy Transition Plan Read More »
Summary Nasser says Red Sea attacks may cause tanker shortage Global oil demand to grow by 1.5 mln bpd in 2024 Oil stocks getting depleted as demand grows OPEC’s spare capacity main source to meet demand DAVOS, Switzerland, Jan 17 (Reuters) – Global oil markets will cope with Red Sea disruptions in the short run, …
Aramco CEO Predicts Tighter Oil Markets, Sees Red Sea Risks Read More »
(Reuters) – Environmental campaigners are criticizing Canada’s energy regulator for approving a “variance” request on a section of the Trans Mountain Expansion pipeline project, calling new conditions around material procurement accompanying the approval too lenient. Last week the Canada Energy Regulator (CER) agreed to Trans Mountain’s request for a variance that will enable the Canadian-government-owned pipeline to …
Canada Regulators Face Activist Ire for Trans Mountain Variance Approval Read More »
