In the turbulent seas of the energy sector, upstream specialist Kosmos Energy (KOS) finds itself adrift. Over a 52-week period, KOS stock has endured a nearly 15% loss. This decline persists in spite of oil-producing nations agreeing to production cuts, a move typically aimed at stabilizing and potentially bolstering crude oil prices.
Indonesia offered 10 oil and gas blocks in 2023, with two working areas Akimeuga ..
Environmental policy expert says fossil fuels have been net benefit for society
Tullow Ghana led the pack at the maiden Chartered Institute of Supply Chain Management (CISCM) Awards held over the weekend in Accra.
This was made known on Monday via the commission’s X platform, explaining that the decision was made to improve dependability and sustainability to meet the country’s fuel supply and energy security requirements.
US President Joe Biden and the World Bank are worried global oil prices could surge even higher if conflict in the Middle East escalates, as the Israel-Gaza war continues and as US and UK attacks on the Iran-backed Houthis in Yemen attempt to blunt their ability to target commercial shipping in the Red Sea.
Crude prices spiked more than 4% before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive rebel attacks on Red Sea shipping
At the COP28 summit in Dubai, nations agreed to move away from fossil fuels.
Natural gas, labeled a “transitional fuel” at the conference, is experiencing a surge that is unlikely to slow any time soon.
Despite having a cleaner image than other fossil fuels, there are still concerns over the environmental impact of expanding the natural gas industry.
Analysts: oil prices are likely to remain around current levels this year.
OPEC+ producers now have sufficient spare capacity to potentially counter extreme market tightness and disruptions to oil flows that could result from geopolitical risks in the Middle East.
As of November 2023, the OPEC+ alliance held 5.1 million barrels per day (bpd) of spare oil production capacity—or about 5% of global demand.
Shipping disruptions across the Red Sea threaten global trade after major shippers, such as Maersk and others, have rerouted vessels.
As of Monday, QatarEnergy, one of the world’s largest LNG exporters has stopped shipping cargoes through the Red Sea.
Possible delays or disruptions of LNG shipments from Qatar are not a concern to European traders yet.