A vigorous recovery from the global aerospace industry has increased demand for nickel, a key aircraft component prized for its corrosion resistance, high strength and exceptional mechanical properties. This could inadvertently complicate or delay new energy infrastructure developments by diverting metal supply from critical sectors such as upstream, offshore and liquefied natural gas (LNG) terminals, which use nickel for various equipment applications in extreme environments.
Saudi Aramco reports a profit decline but exceeds analyst expectations and maintains large investor dividends.
Shafaq News / The U.S. Energy Information Administration confirmed today, Tuesday, that Iraq’s oil exports to the United States reached approximately 84 million barrels during the first eight months of 2023.
Saudi Aramco, the world’s largest oil exporter, reported more than a 23% year-on-year decline in its net income for the third financial quarter to $32.6 billion due to relatively lower crude prices and production cuts.
Energy giants BP and Shell unveiled sharp downturns in their usual earnings last week in a rocky third quarter for the sector, with the oil and gas industry failing to match last year’s record profits.
LNG trading was a crucial component in oil majors’ Q3 earnings
The Department of Energy has added a mere 5 million barrels to the reserve thus far this year.
In a world where some commentators speculate that there is a glut of energy and distillate products as a result of high oil prices, sliding China demand and a looming global recession, Argentina will take the under: as La Nacion reports, on Wednesday refiners and retailers hiked prices between 7.6% and 9.6%, amid what is shaping up as a historic energy crisis.
After falling for the first three days of the week, oil prices have started to recover after both the Federal Reserve and Bank of England decided not to hike interest rates.
Oslo-listed oilo and gas independent Panoro Energy has announced a commercial oil discovery at the Hibiscus South well offshore Gabon.