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U.S. Hits Record High Electricity Generation From Natural Gas

U.S. Hits Record High Electricity Generation From Natural Gas

Record-breaking natural gas demand for…

Net-Zero Ambitions Hit Major Roadblocks in Europe, UK, and US

Net-Zero Ambitions Hit Major Roadblocks in Europe, UK, and US

Net-Zero transition targets touted so…

Oil Moves Higher on Crude, Fuel Inventory Draw

Oil Moves Higher on Crude, Fuel Inventory Draw

Crude oil prices ticked higher…

News

Kenyan Government Rejects Tullow Oil’s Field Plan

Kenyan Government Rejects Tullow Oil’s Field Plan

Jul 16, 2024 at 13:55 | Alex Kimani

Last year, TotalEnergies (NYSE:TTE) and Africa Oil (OTCPK:AOIFF) announced they had abandoned the multi-billion dollar South Lokichar project in Kenya, leaving British exploration firm Tullow Oil (OTCPK:TUWLF) (OTCPK:TUWOY) as the oilfield's sole…

IMF Cuts Saudi Economic Growth Projection On Oil Cuts

IMF Cuts Saudi Economic Growth Projection On Oil Cuts

Jul 16, 2024 at 11:27 | Alex Kimani

The International Monetary Fund (IMF) has downgraded its growth forecast for the Saudi economy due to ongoing oil production cuts by OPEC+. The IMF now sees 2024 growth clocking in…

Russia’s Novatek Slashes Gas Output at Sanctioned Arctic LNG 2

Russia’s Novatek Slashes Gas Output at Sanctioned Arctic LNG 2

Jul 16, 2024 at 10:34 | Charles Kennedy

The Arctic LNG 2 project in Russia, which Western sanctions have hit in recent months, significantly reduced its production of natural gas in May as it hasn’t exported any LNG…

UK's First New Coal Mine in 30 Years Faces Legal Challenge

UK's First New Coal Mine in 30 Years Faces Legal Challenge

Jul 16, 2024 at 08:26 | Charles Kennedy

Climate campaigners are challenging the UK’s approval of the first new coal mine in the country in three decades, with the High Court beginning hearings on the case on Tuesday.  …

Russia’s Crude Oil Exports Slip To Lowest Level Since January

Russia’s Crude Oil Exports Slip To Lowest Level Since January

Jul 16, 2024 at 07:51 | Tom Kool

Russian seaborne crude oil exports dropped in the four weeks to July 14 to the lowest levels since January, pointing to a likely improving compliance with the OPEC+ deal, vessel-tracking…

Exxon Plans Seventh Oil Project Offshore Guyana

Exxon Plans Seventh Oil Project Offshore Guyana

Jul 16, 2024 at 05:49 | Tsvetana Paraskova

ExxonMobil continues to bet big on Guyana, planning a new project set for start-up in 2029 and expected to boost Guyana’s oil production capacity to over 1.4 million barrels per…

Houthis Target Ships in the Red Sea and Mediterranean

Houthis Target Ships in the Red Sea and Mediterranean

Jul 16, 2024 at 05:33 | Tsvetana Paraskova

The Iran-aligned Houthis in Yemen have attacked two ships in the Red Sea, including an oil tanker, and one vessel in the Mediterranean, the Houthi military spokesman Yahya Saree 

Syrian “Godfather of Oil” for the Regime Killed in Drone Strike

Syrian “Godfather of Oil” for the Regime Killed in Drone Strike

Jul 15, 2024 at 15:54 | Julianne Geiger

A Syrian businessman widely known in the region as the “godfather of oil” for the regime of Bashir al-Assad was reportedly killed in an Israeli attack near the border with…

Gas Prices Tick Higher As Oil Prices Fail To Gain Momentum

Gas Prices Tick Higher As Oil Prices Fail To Gain Momentum

Jul 15, 2024 at 13:27 | Alex Kimani

U.S. gasoline prices have edged slightly higher as oil prices have struggled to break out of the low-$80s, with sluggish U.S. demand one of the factors keeping prices range-bound. Data 

European Diesel Trade Thriving After Russia’s Exclusion

European Diesel Trade Thriving After Russia’s Exclusion

Jul 15, 2024 at 11:39 | Alex Kimani

Europe’s Intercontinental Exchange Inc (ICE) has revealed that trading in European diesel futures and options has been thriving ever since Russian crude was excluded from the continent’s benchmark.  ICE…

Asian Market Buys First Oil Cargoes From Canada’s Trans Mountain Pipeline

Asian Market Buys First Oil Cargoes From Canada’s Trans Mountain Pipeline

Jul 15, 2024 at 10:37 | Alex Kimani

China, Japan and South Korea are set to receive cargoes of oil imports from Canada's newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from…

CNOOC Announces Offshore Oil and Gas Exploration Breakthrough

CNOOC Announces Offshore Oil and Gas Exploration Breakthrough

Jul 15, 2024 at 08:33 | Josh Owens

Chinese state-held oil and gas giant CNOOC said on Monday it had achieved an exploration breakthrough in medium-to-deep Mesozoic plays in the Bohai Bay offshore China.  CNOOC, which specializes…

China’s Coal Production Hits Six-Month High

China’s Coal Production Hits Six-Month High

Jul 15, 2024 at 06:55 | Tom Kool

China aims to avoid coal shortages during the peak summer demand season by stockpiling coal and increasing production.China boosted its coal production in June to the highest level in six…

Africa's Largest Oil Refiner Set for Public Listing

Africa's Largest Oil Refiner Set for Public Listing

Jul 15, 2024 at 05:01 | Tsvetana Paraskova

Nigeria’s Dangote Group plans to list its company Dangote Petroleum Refinery & Petrochemicals, which runs Africa’s largest refinery, on the Nigerian stock exchange in early 2025, the group’s president Aliko…

China's Natural Gas Production Surged in First Half of 2024

China's Natural Gas Production Surged in First Half of 2024

Jul 15, 2024 at 02:09 | Tsvetana Paraskova

China’s natural gas production increased by 6% in the first half of the year compared to the same period a year earlier as state companies are boosting domestic output with…

India To Launch 10th Round for Oil, Gas Blocks

India To Launch 10th Round for Oil, Gas Blocks

Jul 13, 2024 at 10:34 | Julianne Geiger

India is set to launch its tenth bidding round for oil and gas blocks in August or September, the Directorate General of Hydrocarbons (DGH) has said. The latest round will…

Nigeria's Dangote Refinery Branches Out Into Brazilian Crude

Nigeria's Dangote Refinery Branches Out Into Brazilian Crude

Jul 12, 2024 at 13:44 | Julianne Geiger

Nigeria's Dangote refinery is set to receive its first shipment of Brazilian crude oil as it continues towards full operational capacity. The purchase of Brazilian crude is a first for…

OPEC+ Cuts and Demand Woes Keep Oil Prices in Narrow Trading Range

OPEC+ Cuts and Demand Woes Keep Oil Prices in Narrow Trading Range

Jul 12, 2024 at 10:09 | Tom Kool

Oil prices have remained in a narrow $75 to $90 a barrel trading range since the end of 2022, as the OPEC+ group continues to keep supply off the market…

Norway’s Oil Producer Aker BP Beats Q2 Profit Estimate

Norway’s Oil Producer Aker BP Beats Q2 Profit Estimate

Jul 12, 2024 at 08:42 | Tsvetana Paraskova

Norwegian oil and gas producer Aker BP reported on Friday a net profit of $561 million for the second quarter, slightly beating a company-provided analyst consensus estimate.   Aker BP,…

China's Natural Gas Imports Rose by 14% in First Half of 2024

China's Natural Gas Imports Rose by 14% in First Half of 2024

Jul 12, 2024 at 05:29 | Tsvetana Paraskova

China’s imports of natural gas, including via pipeline and LNG cargoes, increased by 14.3% in the first half of 2024 compared to the same period of last year.  China imported…

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