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The European gas surplus is almost gone: Kemp
The record European gas surplus that was inherited in winter 2023/24 is now largely gone, thanks to a very small accumulation…
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Key China Energy Indicators to Track for the Rest of 2024
Slower consumption in China spurred the Organization of the Petroleum Exporting Countries (OPEC) to cut estimates for global…
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Kemp: Oil traders focus on the economy, not dwindling stock
The oil prices fell in recent weeks, as traders looked past the depletion of global inventories and focused on a future threat…
Latest news
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Canada regulator suspends Imperial's application to extend Norman Wells oil permits
The Canada Energy Regulator announced on Tuesday that Imperial Oil has put its application to extend life of the remote Norman…
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Sources: At least 18 injured by fire at Venezuelan La Salina oil terminal
Sources familiar with the operations of Venezuela's La Salina Oil Terminal said that at least 18 people, including workers…
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Mexican officials reassure investors at bilateral business summit
Mexican officials called for safety and stability of private investment after a summit held with business leaders on Tuesday.
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Exxon is looking for buyers of Bakken Shale assets in North Dakota
Exxon Mobil Corp, a major U.S. oil company, plans to sell some of its assets within North Dakota's Bakken Shale Formation.
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Nepal and Bhutan seek Indian investments for hydropower projects
Officials from Nepal and Bhutan said Tuesday that they are looking for Indian investment to increase their hydroelectric…
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IMF predicts a slowdown in the economic growth of Mexico between 2024 and 2025
The International Monetary Fund said on Tuesday that it expects Mexico's economy to grow at around 1.5% in this year. It…
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Nabors Industries, a provider of oilfield services, will purchase Parker Wellbore
Nabors Industries agreed on Tuesday to purchase drilling services provider Parker Wellbore, as the oilfield service company…
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Gazprom announces plans to sell holiday resorts in Russia after annual loss
Gazprom, the Russian energy giant, announced on Tuesday that it would be selling off several holiday resorts. This comes…
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Palm oil continues to decline against weaker competitors; export data cap losses
The price of Malaysian palm oils futures dropped for the second session in a row on Tuesday. This was due to the weakness…
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EU Energy Ministers Discuss Ukraine Energy Crisis and Russian LNG
Officials said that EU energy ministers met on Tuesday in Luxembourg to discuss the rising Russian LNG imports into the EU…
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EU Energy Ministers Discuss Ukraine Energy Crisis and Russian LNG
Officials said that EU energy ministers met on Tuesday in Luxembourg to discuss the rising Russian LNG imports and Ukraine's…
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Prices of gas in Europe are lower due to profit-taking and lower demand
The Dutch and British wholesale prices of gas were lower on Tuesday morning due to profit-taking and after media reports…
Offshore Oil & Gas
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Solar, Wind Uptake to Reach 5.4 TWac from 2024 to 2033, Says Wood Mackenzie
Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, while 640% growth…
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Tyra II Production Successfully Restarted
The Tyra Redevelopment Project (Tyra II) has restarted production. At plateau, the Tyra hub will produce 5.7 million cubic meters of gas and 22…
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Quick Connect: OAL Subsea Pipeline Completed
Making a twist on the proverb 'necessity is the mother of invention', GASCADE Gastransport GmbH and StreamTec Solutions AG completed…
Shale Oil & Gas
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What we can learn from China's latest military exercises around Taiwan
China's day of wargames around democratically-governed Taiwan was Monday a warning against'separatist actions. Although they appeared shorter…
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Malaysian PM: Petronas exploration in South China Sea to continue
Anwar Ibrahim, Malaysia's prime minister, reiterated on Tuesday that the state-owned energy company Petronas would continue…
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Hungary and Russia's Gazprom are in talks about extra gas for Budapest by 2025
Hungary and Russia’s Gazprom have begun negotiations for an agreement to supply additional gas next year to Budapest. Peter Szijjarto…
LNG
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ABS Opens LNG Academy in Qatar
American Bureau of Shipping (ABS) has inaugurated the ABS Global LNG Academy, a cutting-edge training center dedicated to…
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Fratelli Cosulich Inks Charter Deal for LNG Bunkering Vessel
Italian shipowner Fratelli Cosulich and PETCO Trading Labuan Company Limited (PTLCL), a trading arm of Malaysian energy company Petronas…
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Wärtsilä’s Inks Deal for Supplies on Four new LPG Ships
Wärtsilä will supply the cargo handling and fuel supply systems for four new 40,000 m3 gas carrier vessels. The ships are…
Renewables
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Trader Wilmar reduces projections for Brazil sugar production
Wilmar International, a commodities trader based in Asia, cut its forecasts for sugar production by Brazil in 2024/25 due…
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Colombia and Ecuador battle to protect vital wetlands during drought
As water and energy restrictions hit both countries, rural communities in Colombia and Ecuador fight to protect fragile high…
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VEGOILS - Palm erases early gains, speculative purchasing and short covering cap losses
Malaysian palm futures reversed gains and closed lower on Monday as crude oil prices fell. However, speculative purchases…
Technology
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Alphabet Winds Down Makani
Alphabet, Google's parent company, announced that it is calling it quits on its efforts to build and monetize its Makani…
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CMA CGM Joins Energy Observer in Hydrogen Project
French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of…
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Toshiba Delivers Fuel Cell System to Ship
The provider of energy industry solutions Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that the…
Legislation
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US Prepares Renewal of Chevron's Venezuela License Without Broader Terms
The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela…
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New York City Sues Exxon, BP, Shell Over Climate Change
New York City on Thursday sued three major oil companies and the top industry trade group in state court, arguing that the…
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Biden to Target Drilling, Fossil Fuel Subsidies in New Climate Orders
President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and…