“The surge is primarily driven by robust growing use of electricity for industrial production, increased demand for air conditioning, accelerating electrification, led by the transport sector, and the rapid expansion of data centres,” the International Energy Agency said.
President John Mahama has reassigned the former Member of Parliament for Bongo, Edward Abambire Bawa as the Group Chief Executive Officer of GOIL.
The move higher was driven by a rapid tightening in inventories due to colder weather, lower wind power generation due to low wind speeds and the termination of Russian gas imports via Ukraine.
Europe has been driving global LNG trade since the start of the year, buying every cargo it can to secure energy supply during the coldest months of the year. Once spring comes, however, it will need to begin to refill its fast-emptying storage to prepare for next winter—and its fondness for overregulation may turn suicidal.
Crude oil inventories in the United States saw a build of 4.1 million barrels during the week ending February 7, according to the U.S. Energy Information Administration.
A new US Department of Energy survey provides updated data on oil & natural gas production in the CaspianBasin. It shows that four regional states – Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan – collectively account for 3 percent of global energy production.
The LNG will be sourced from TotalEnergie’s global portfolio and will be delivered to terminals on India’s west coast at an expected rate of six cargoes per year.
The International Energy Agency has lowered its outlook for Russia’s oil production this year by only a narrow margin even with sweeping western energy sanctions, as the Paris-based organization expects the nation to come up with workarounds.
Commodity traders should start paying more attention to India, according to the country’s oil and gas minister, as the world’s most populous nation moves into a new phase of growth that will require increased raw material consumption.
Petrobras Chief Executive Officer Magda Chambriard said the Brazilian oil giant can withstand global prices sliding a little lower under Donald Trump, in part by leaning on its customers in China and India.