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Summary 2023 crude imports 11.28 mln bpd, +11% on yr 2023 natgas imports 2nd highest on record; Dec imports at record 2023 refined fuel exports +16.7% on yr (Reuters) – China’s annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite …
China’s 2023 Crude Oil Imports Hit Record as Fuel Demand Recovers Read More »
Both crude distillation units (CDUs) and two vacuum distillation units (VDUs) shut down on Thursday at TotalEnergies 238,000 barrel-per-day (bpd) Port Arthur, Texas refinery, sources familiar with plant operations said on Thursday. The units, which convert crude oil into feedstock for all other units at the refinery, were shut following a malfunction on the gasoline-producing fluidic …
All Crude Units Shut at TotalEnergies Texas Refinery Read More »
At least four oil tankers have diverted course from the Red Sea since overnight strikes by the U.S. and Britain on Houthi targets in Yemen, shipping data from LSEG and Kpler showed. The attacks were carried out from the air and sea in response to the Iranian-backed Houthi militia’s attacks on ships in the Red …
Oil Tankers Divert From Red Sea After U.S., UK Strikes in Yemen Read More »
(Reuters Breakingviews) – Chesapeake Energy is the latest to join the fossil-fuel merger rush, and has the benefit of safety in numbers. That’s true in two ways: first, because its $7.4 billion purchase of Southwestern Energy is financially attractive for Chesapeake shareholders, and secondly because Boss Nick Dell’Osso is treading an M&A path that rivals like Exxon Mobil and …
Breaking It Down: Chesapeake $7.4 Bln Deal Finds Safety in Numbers Read More »
(Reuters) – Recent builds in U.S. distillate stocks have pushed inventories to normal levels for the first time since early 2022, a sign that analysts say may indicate that markets are steadying after several years of wild price fluctuations. Refiners have been scrambling to meet demand for fuels like diesel and heating oil for nearly …
U.S. Distillate Inventories Normalize as fuel Demand Slows Read More »
The tribal and city councils in Nuiqsut withdrew their support for a joint letter they sent last year blasting the “endless expansion of oil development and the complete encirclement of our village.” ConocoPhillips’ CD-5 project was built before construction on Willow started, some seven miles from the Iñupiat village of Nuiqsut on Alaska’s North Slope. …
(Reuters) – China’s status as the colossus of renewable energy is set to be cemented in the next five years, with the world’s second-biggest economy adding more capacity than the rest of globe combined. The International Energy Agency said in its Renewables 2023 report, released on Thursday, that China will account for 56% of renewable …
China Dominates Renewable Energy and Coal Power Forecasts Read More »
Country seeks to maintain position as a key supplier to Europe As many as 50 wells are expected to be drilled: directorate Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe. Between 40 and 50 wells are expected to be …
Norway’s Oil and Gas Companies to Step Up Exploration This Year Read More »
Production is breaking records, but employment and real pay are down. By Justin Fox Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.” Even amid record production, oil and gas …
U.S. Oil and Gas Boom Doesn’t Feel Like One to Workers Read More »
Summary Brent and WTI up about $1 Armed individuals board tanker off Oman Signs of weakening oil demand cap gains LONDON, Jan 11 (Reuters) – Oil prices rose on Thursday after an oil tanker was boarded by an armed group in Oman, raising the prospect of escalating conflict in the Middle East. Brent crude futures …
