Stockpiles of oil products at the UAE’s Port of Fujairah rose 2.4% to an eight-month high in the week ended April 1 after a surge in diesel imports from Kuwait, according to the Fujairah Oil Industry Zone and shipping data.
I normally chronicle the oilfield activity taking place in the shale basins of the U.S., often spending much of my time on companies operating in West Texas and New Mexico. A few counties in this area are the site of the Permian basin and the source of millions of barrels a day of oil and gas equivalent production thanks to fracking technology. In this article, I am going to sidestep that niche, but only for a while. If you read patiently to the end, I’ll swerve back into my normal lane and finish up in the oilpatch.
Ukraine’s electricity system has been the target of repeated attacks by Russian forces, resulting in blackouts for about a million people. Yet the system is far from total collapse, according to the head of the country’s grid operator.
The United States is currently experiencing a post-pandemic boom in foreign direct investment (FDI), thanks in large part to new industrial policies that incentivize U.S. manufacturing investment such as the Inflation Reduction Act (IRA) and the CHIPS Act as well as overall resilience of the U.S. economy. FDI in the United States increased $216.8 billion to $5.25 trillion at the end of 2022 from $5.04 trillion at the end of 2021, with Europe accounting for the lion’s share of investment inflows.
The Minister of Energy, Giorgos Papanastasiou, recently stated on RIK radio that within the week, the Renewable Energy Sources (RES) & Energy Efficiency (EE) Fund will begin sending SMS or emails to inform applicants about the pre-approval of their application for the installation of a roof photovoltaic system without initial capital, through the “Photovoltaic for Everyone” scheme.
Tuesday’s Piazza Affari continued trading in the green — with the point bar above 38,800 — after the prolonged Easter break, awaiting important economic data including the U.S. JOLTs report later in the week for more clues on what might be the next moves by central banks.
‘Right strategy, wrong price’. That’s the headline from a research note penned by American investment bank Stifel on Ithaca Energy PLC (LSE:ITH)’s proposed acquisition of North Sea assets from Italian oil giant ENI for an estimated $1.1 billion.
Commissioner for Energy Kadri Simson is in Australia until 8 April to engage with government representatives and stakeholders to enhance bilateral cooperation in the field of energy. The EU and Australia have a longstanding cooperation, both bilaterally and in multilateral fora, including on climate change and the energy transition. Most recently, Australia joined the Global Pledge to triple renewable energy capacity spearheaded by the EU at COP28.
Dagang NeXchange Bhd’s (DNeX) UK upstream oil and gas arm Ping Petroleum UK plc (Ping UK) has added three more North Sea oilfield licences to its portfolio.
The Federal Government has disclosed that Nigeria now produces crude oil from over 246 fields across the country and operates 188 production stations/platforms.