Sinopec, a top refiner, claims that China's oil demand will peak in 2027.
Sinopec, the state-owned refinery, said that China's oil demand will peak in 2027. This is due to a decline in diesel and gasoline consumption, which has slowed down global oil markets. Sinopec stated that the peak oil demand in 2027 will not exceed 800 million metric tonnes…
Prices of EUROPE GAS are bound by range as stable supply caps gains
The Dutch and British wholesale gasoline prices were mostly range bound on Thursday morning, despite the colder weather. The benchmark contract for the Dutch TTF hub rose by 0.18 euros to 41.45 euro per megawatt-hour (MWh) at 0920 GMT. Meanwhile…
Shell's former US offshore wind leader Orsted replaces Shell's executive
Amanda Dasch, Shell's director of renewables for the Americas, will join Danish offshore wind company Orsted as its head of U.S. operations in January. Shell has announced that it will stop investing in new offshore wind farms as CEO Wael Sawan concentrates on higher-margin operations.
Hungary declares that the issue of Russian gas payments has been resolved
Hungary's foreign minister announced on Friday that it had found a way to pay for Russian gas via the Turkstream pipe from Bulgaria, while avoiding the U.S. sanction. He did not provide any details about the agreement. The U.S. On Nov. 21, creating a barrier for European gas buyers.
Russia's oil production in 2024 is expected to decline from 518-521 million T
Interfax news agency reported that Deputy Prime minister Alexander Novak said on Thursday that Russia will produce between 518-521 millions metric tons of oil (10.36-10.42million barrels per day). This amount is also expected in 2025. In September, he had predicted a production of 515-521 millions tons.
Russia, Pakistan Mull Energy Exploration JV
Russia and Pakistan discussed cooperation on oil and gas offshore exploration and refining at intergovernmental meetings this week in Moscow, the Interfax news agency reported, citing Russia's deputy energy minister.Talks also covered the prospect of Russia supplying Pakistan with crude oil and grains…
Chernyshov, CEO of Naftogaz Ukraine, appointed as deputy PM for new ministry
The Ukrainian parliament approved Oleksiy Cernyshov, the CEO of state-owned oil and gas company Naftogaz as deputy premier to head a newly created ministry for national unification as the third anniversary of Ukraine's full-scale war against Russia approaches.
Indonesia talks nuclear technology with US and Russia
A deputy minister of the Indonesian government said on Friday that Indonesia has been in discussions with the United States about developing nuclear power plants. Vivi Yulaswati is a deputy minister in the Ministry of National Development Planning.
OPEC+ Postpones its output policy meeting until Dec 5
OPEC announced on Thursday that the OPEC+ group of oil producing countries had postponed their next meeting regarding output policy from December 1 to Dec. 5, to avoid a clash with another event. OPEC announced that several OPEC+ Ministers will…
Mooreast Appoints Ellingsen as CEO
Mooreast Holdings Ltd. announced today it will appoint Mr Eirik Ellingsen, a Norwegian with deep experience in the offshore and marine sector, as Chief Executive Officer (“CEO”) amid growing adoption of floating wind energy projects worldwide.Mr…
COP29: Climate agenda clashes with trade demands
At the COP29 Climate Summit, trade tensions are escalating. According to U.N. documents, and negotiators, China, Brazil, and a number of other developing countries have complained that perceived barriers, like the European Union’s carbon border levy will undermine climate efforts.
Poland to Boost Offshore Wind, Energy Security
Poland is planning to assign new areas for offshore wind farms in the Baltic Sea and is drafting additional measures to boost the security of its critical energy infrastructure, government officials said on Wednesday."Maritime offices will submit analyses any moment…
Change of Ørsted Region Americas CEO
Ørsted announced today that David Hardy, Group EVP and CEO Americas, has decided to leave the company to join GE Vernova as Chief Commercial Officer, Wind. He will step down from his position effective November 30.The search for a successor Region Americas CEO is well underway.
UN chief warns at COP29 that if you don't pay up, the climate will lead to disaster for humanity.
At the COP29 Summit on Tuesday, United Nations Secretary General Antonio Guterres urged world leaders to "pay up", in order to prevent climate-driven humanitarian disasters. He also said that time was running short to limit a destructive increase in global temperatures.
Who would be the best person to run Trump's energy policy?
Donald Trump, the president-elect of the United States, has pledged to overhaul U.S. Energy Policy. He aims to maximize oil and gas production in this country which is already at record levels by rolling back regulations and accelerating permits.
Climate Investment Funds Board backs $1 billion Turkey grid upgrade project
Climate Investment Funds, a multilateral lender, has announced that it will provide an initial investment of $1 billion to support a plan to upgrade Turkey’s electricity grid to handle more renewable energy. The CIF board approved a $70million investment…
Reeves, UK's Reeves, announces that fuel duty will not increase
In her first budget address on Wednesday, British Finance Minister Rachel Reeves announced that the temporary five-pence reduction in fuel duty will remain in effect. She said it would be unfair to increase it in a period of global uncertainty and high living costs.
British Business Oct 18,
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. The Times: British online retailer N Brown Group has agreed to a takeover of 191 million…
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, the drills were intense and fast-paced in their simulation of attacks and deployments of ships and aircraft.
Russia says it is too early to tell if the market will be ready for additional oil in Dec
Alexander Novak, the Russian Deputy Premier, said that it was still too early to determine if the market will need the additional volumes of oil the OPEC+ group plans to produce beginning in December. His comments could set the stage for a discussion…
