Last month, commodity analysts at Standard Chartered reported that global oil demand hit an all-time high of 103.79 million barrels per day (mb/d) in August, marking the third successive month in which a new all-time demand high has been set. According to StanChart, global oil demand growth clocked in at a healthy 1.32 mb/d in August. Well, it appears that oil markets are poised to finish the year on a bullish note.
The share of natural gas in India’s primary energy supply is currently between 6% and 8%, according to data from various government statistics and international forecasters such as the International Energy Agency (IEA) and the Statistical Review of World Energy published annually by the Energy Institute.
The Middle Corridor, an emerging trade route linking China and Europe via the Caucasus and Central Asia, has been a major topic of discussion on the fringes of COP29. In the spirit of the climate gathering, participants say they are intent on developing a sustainable “green” energy corridor, involving the construction of new infrastructure and the digitization of trade systems.
The energy regulator Ofgem has told provider E.ON Next to pay up £14.5m for failing to provide final bills and refunds to its customers.
NNPC, Nigeria’s NOC, introduced its Utapate crude oil blend at the Argus European Crude Conference in London on Wednesday.
Nuclear power is in the spotlight at the United Nations Climate Change Conference (COP29) in Azerbaijan, where both countries and industries presented plans to deploy the carbon-free energy technology, building on the historic consensus to accelerate its use that emerged from last year’s climate summit.
Effective November 14, 2024, ExxonMobil transferred its 50% working interest in the block to Malaysian oil and gas company Petronas, which is the block’s operator. With the transfer, Petronas Suriname E&P comes to hold a 100% working interest in Block 52.
The non-binding agreement would see ExxonMobil supply lithium carbonate to the South Korean-owned cathode plant in Clarksville, Tennessee, which aims to manufacture cathodes for electric vehicle batteries.
NCMA 2, located around 48 kilometres off Trinidad’s north coast and lying in water depths of around 200 metres, opens a new area of exploration for the energy giant in the country, as all of its current production comes from the Columbus Basin off Trinidad’s east coast.
Oil market forecasters such as the International Energy Agency (IEA) may have been too pessimistic about supply-demand balances in their latest assessments, which show a large surplus for 2025.