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News

UAE's State Oil Firm Prepares For First Bond Issue

UAE's State Oil Firm Prepares For First Bond Issue

Jan 25, 2022 at 13:43 | Charles Kennedy

Abu Dhabi National Oil Company (ADNOC) has created a new entity that will sell the first bond of the United Arab Emirates' oil producer as the OPEC member looks to…

Saudi Arabia’s Gas Production Hits Record-High

Saudi Arabia’s Gas Production Hits Record-High

Jan 25, 2022 at 13:38 | Tsvetana Paraskova

Saudi Arabia has grown its natural gas production by 30 percent in a decade to a record 11 billion cubic feet per day (Bcf/d) in 2020, as the world’s top…

High-Impact Oil And Gas Drilling Makes A Comeback

High-Impact Oil And Gas Drilling Makes A Comeback

Jan 25, 2022 at 12:46 | Tsvetana Paraskova

High-impact well drilling activity returned to growth in 2021 after a decade-low in 2020 when the pandemic and crash in demand made oil and gas companies slash drilling budgets and…

Shell Makes Significant Oil & Gas Discovery Offshore Namibia

Shell Makes Significant Oil & Gas Discovery Offshore Namibia

Jan 25, 2022 at 12:19 | Tsvetana Paraskova

Shell has made a significant oil and gas discovery offshore Namibia, one of the expected hotspots for exploration this year, Reuters reported on Tuesday, quoting three sources in the…

UK Plans More Power Capacity To Avoid Outages Next Winter

UK Plans More Power Capacity To Avoid Outages Next Winter

Jan 25, 2022 at 10:26 | Tsvetana Paraskova

The UK looks to prevent power outages next winter season by setting a higher target for the 2022/2023 power capacity auction than the one recommended by grid operator National Grid…

TAP Gas Pipeline Ready To Expand Capacity Ahead Of Schedule

TAP Gas Pipeline Ready To Expand Capacity Ahead Of Schedule

Jan 25, 2022 at 09:34 | Irina Slav

The Trans-Adriatic Pipeline could expand its capacity a year ahead of schedule, the managing director of the project, Luca Schieppati, told Italian media as quoted by Reuters this week.…

ConocoPhillips CEO Sees More Oil Industry Consolidation

ConocoPhillips CEO Sees More Oil Industry Consolidation

Jan 24, 2022 at 17:56 | Julianne Geiger

ConocoPhillips' CEO Ryan Lance is bullish on the price of oil, the executive said on Monday at the Argus Americas Crude Summit in Houston. Lance further expressed his view…

Mexico’s Huge Oil Hedge Was Unaffected By Its Export Ban Plans

Mexico’s Huge Oil Hedge Was Unaffected By Its Export Ban Plans

Jan 24, 2022 at 14:47 | Julianne Geiger

Mexico’s well-known oil hedge is showing no signs of diminishing, even in the wake of Mexico’s ambitious plans to curb oil exports. Mexico’s hedge for 2022 crude oil production, in…

Europe’s Top Copper Producer Wants Nuclear Energy Labeled As Green

Europe’s Top Copper Producer Wants Nuclear Energy Labeled As Green

Jan 24, 2022 at 11:32 | Charles Kennedy

European industries could grow using clean energy only if the European Union (EU) decides to classify some nuclear power plant investments as sustainable, the head of Europe’s top copper producer,…

Mexico's Energy Minister Hits Back At Refinery Criticism

Mexico's Energy Minister Hits Back At Refinery Criticism

Jan 24, 2022 at 10:35 | Irina Slav

The new Dos Bocas refinery that Mexico’s government is building to reduce the country’s dependence on fuel imports is “being built in record time. Opinions around the world are very…

Soaring Gas Prices Will Boost Profits For India’s Biggest Company

Soaring Gas Prices Will Boost Profits For India’s Biggest Company

Jan 24, 2022 at 09:42 | Tsvetana Paraskova

Reliance Industries expects the global natural gas crunch and the gas price rally to continue benefiting India’s oil-to-telecoms conglomerate with more earnings in the coming months after higher…

Iraq Is Preparing For Higher Oil Demand

Iraq Is Preparing For Higher Oil Demand

Jan 24, 2022 at 09:20 | Irina Slav

Iraq is already scheduling crude oil shipments for delivery in March thanks to strong demand, the deputy head of the State Organization for the Marketing of Oil, or SOMO, told…

Mexico’s Mega Refinery: Delayed And $3.6 Billion Over Budget

Mexico’s Mega Refinery: Delayed And $3.6 Billion Over Budget

Jan 21, 2022 at 17:14 | Charles Kennedy

The construction of Mexico’s Dos Bocas oil refinery is running $3.6 billion over budget and delays could mean that the flagship project of Mexican President Andrés Manuel López Obrador may…

Morgan Stanley Jumps On The $100 Oil Bandwagon

Morgan Stanley Jumps On The $100 Oil Bandwagon

Jan 21, 2022 at 13:46 | Tsvetana Paraskova

Morgan Stanley expects oil prices to hit $100 per barrel in the second half of the year, becoming the latest major Wall Street bank to expect triple-digit oil prices by…

EU Debates Energy Prices And Net-Zero Goals

EU Debates Energy Prices And Net-Zero Goals

Jan 21, 2022 at 13:41 | Charles Kennedy

The energy and environment ministers of the European Union (EU) member states are discussing at the end of this week the soaring energy prices in the bloc and ways to…

Renewable Energy Could Cool European Tensions With Russia

Renewable Energy Could Cool European Tensions With Russia

Jan 21, 2022 at 13:36 | Tsvetana Paraskova

Germany could consider cooperating with Russia in renewable energy to defuse the tension between Moscow and the West over Ukraine, German Minister for Economic Affairs and Climate Action, Robert…

U.S. Crude Exports Boom Amid Recovering Global Demand

U.S. Crude Exports Boom Amid Recovering Global Demand

Jan 21, 2022 at 13:31 | Tsvetana Paraskova

U.S. crude oil exports have jumped in recent weeks as America leads supply growth amid steady and resilient global demand, according to commodity analytics provider Kpler, cited by Reuters.…

U.S. Moves To Protect PDVSA-Owned Citgo For Another Year

U.S. Moves To Protect PDVSA-Owned Citgo For Another Year

Jan 21, 2022 at 08:14 | Charles Kennedy

The Treasury Department extended a moratorium on transactions on a bond issued by the U.S. arm of Venezuela’s PDVSA, Citgo, for another year in the latest move to shield the…

China Is Reselling LNG Cargoes, Driving Gas Prices Lower

China Is Reselling LNG Cargoes, Driving Gas Prices Lower

Jan 20, 2022 at 15:39 | Tsvetana Paraskova

Major Chinese liquefied natural gas (LNG) importers are now offering to resell some cargoes on the spot market this year, suggesting that China has stocked up more than enough to…

BP, Rosneft Were Only Firms With Over 1 Billion Barrel Oil Finds In 2021

BP, Rosneft Were Only Firms With Over 1 Billion Barrel Oil Finds In 2021

Jan 20, 2022 at 14:03 | Charles Kennedy

BP and Rosneft were the only companies to have delivered over 1 billion barrels of oil equivalent in discoveries last year due to their exposure in Russia which…

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