With more than $200 billion of greenfield investments expected by 2025, the offshore oil and gas sector is expected to get back in the spotlight, according to Rystad Energy, an energy market intelligence group.
ING is further restricting financing to the oil and gas industry, reducing the volume of traded oil and gas it finances and no longer financing midstream infrastructure for new oil and gas fields, the Netherlands-based bank said on Tuesday.
One year ago, following the net-zero pathway laid out by the International Energy Agency (IEA), we became the first large global bank to stop providing dedicated finance to new ‘upstream’ (exploration and extraction) oil and gas fields.
A rebound in crude oil demand as the Chinese economy returns to normal operation pushed crude oil throughputs at refineries higher by 3.3% over the first two months of the year.
The 50-day implied volatility rate of oil jumped some 16% amidst the ongoing chaos surrounding the collapse of SVB and Signature Bank, the most since the beginning of the Russia-Ukraine war.
As the old saying goes, “one man’s crisis is another’s opportunity.” Russia’s invasion of Ukraine and the subsequent sanctions and ruined trade relationships with the U.S. and Europe represent a tremendous crisis. But for the country’s long-term ally, India – and to an extent, China – it represents opportunity. From cheap Russian oil and coking coal to steel, India continues to benefit from its close ties to Moscow.
The recent signing by Iraq’s federal government in Baghdad of three long-term oil and gas sector contracts with the UAE’s Crescent Petroleum – a company also heavily involved in the same sectors of Iraq’s semi-autonomous region of Kurdistan – may indicate that the ban on international oil companies (IOCs) trying to operate in both regions has now been relaxed by Baghdad.
A wave of new liquefied natural gas (LNG) export terminals is set to come online in the next few years, and it could have a significant impact on global gas prices.
Argentina is the home of the second-largest shale formation in the world, containing an estimated 16 billion barrels of oil and 308 trillion cubic feet of natural gas. It is also one of the most troubled economies in the world, with crises more or less now chronic.
Europe’s natural gas demand fell by the most on record last year, with the decline equivalent to the gas volumes required to supply more than 40 million homes, the International Energy Agency (IEA) said in a commentary on Tuesday.