As many as 125 supertankers were traveling to China at the end of April, carrying the biggest volumes of oil to the world’s top crude buyer in more than two years, according to tanker-tracking data compiled by Bloomberg.
China’s factory activity dipped in April, the private Caixin purchasing managers’ index has confirmed.
One of my 2023 energy predictions was “Total U.S. oil production will again rise, and set a new annual production record.” The previous annual record was set in 2019 at 12.3 million barrels per day (bpd), and by the end of 2022 monthly production was just about back to that level following the devasting Covid-19 impact on the industry in 2020.
Shell on Thursday became the latest oil major to report first-quarter earnings above expectations and announced additional share repurchases of $4 billion.
After a stellar run fueled by multi-decade-high commodity prices in 2022, the energy sector has become a laggard in 2023 as investors turn their attention to growth stocks in sectors like tech, software and IT.
In January this year, the Federal Court of Appeals in Mar del Plata dismissed a lawsuit brought forward by several environmentalist organizations and the mayor of the coastal resort city against an offshore oil and gas exploration project.
Kuwait plans to invest nearly $19 billion on 10 large oil projects in the next seven years, Zawya Projects reported, citing a local newspaper.
Economic growth in the oil exporters in the Middle East and North Africa will shift from oil to the non-oil sectors due to lower crude production as part of the OPEC+ agreement, the International Monetary Fund (IMF) said in its latest regional outlook published on Wednesday
Oil and gas operations account for nearly 15% of energy-related greenhouse gas emissions today and the industry has the ability and resources to cut them quickly and cost effectively
The Anambra government says it has commenced recovery of the 2022 consolidated petroleum product levies owed the state government by petroleum products marketers across the state.