Oil and Gas Industry

Renewable Investments Could Outstrip Upstream Oil And Gas In 2022

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 4, 2022 | Comment off

High spot electricity prices, particularly in Europe, are changing the utility wind and solar investment narrative as potential payback periods of under a year could start a race to develop renewable assets purely based on project economics, Rystad Energy research shows. Capital investments in renewables have also increased significantly and are set to reach $494 billion in 2022, outstripping upstream oil and gas at $446 billion for the year, according to Rystad Energy research. This is the first time that investment in renewables is set to be higher than for oil and gas.

KeystoneXL Pipeline Could’ve Weakened OPEC’s Bargaining Position

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 3, 2022 | Comment off

The U.S. is rapidly depleting our Strategic Petroleum Reserve (SPR) and is now begging Saudi Arabia and OPEC not to cut oil production. This is a result of the unintended — but predictable — consequences of U.S. energy policy that is often hostile to our domestic energy companies. Our energy policy is often undermined by well-meaning but naïve people. They fought for years against the on-again, off-again Keystone XL pipeline, which was ultimately canceled by the Biden Administration.

Oil falls as Fed rate hike raises fuel demand concerns

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 3, 2022 | Comment off

Oil slipped on Thursday as a U.S. interest rate hike pushed up the dollar and increased fears of a global recession that would crimp fuel demand, although losses were capped by concerns over tight supply.

Bempah: US$3.6 billion paid for Mahama’s alleged “dubious” Sankofa gas pipeline deal

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 3, 2022 | Comment off

The Akufo-Addo government says it has so far paid a sum of US$3.6 billion in the past seven years for the alleged ENI Sankofa gas pipeline deal signed by the Mahama administration.

Without injection of new funds, GNPC is on the brink of bankruptcy’ – Minority

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 3, 2022 | Comment off

Parliament’s Committee on Employment, Social Welfare and State
Enterprises has raised concerns over the financial standing of the
Ghana National Petroleum Corporation (GNPC).

Middle East Producers Cautious To Hike Prices After OPEC+ Production Cuts

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 2, 2022 | Comment off

Heading into November 2022 with the firm knowledge that intra-OPEC+ cohesion has been restored to the fullest and the oil group has been given a new long-term ambition, pricing decisions for Middle Eastern cargoes loading next month faced an uncanny dilemma.

IEA: The Current Energy Crisis Is Unprecedented

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 2, 2022 | Comment off

“The world is in the middle of the first truly global energy crisis,” the executive director of the International Energy Agency, Fatih Birol, said today in Singapore.

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 2, 2022 | Comment off

Oil prices rose on Tuesday as the US dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil importing economies such as China.

OPEC Flags Oil Surplus, Vitol Sees Waning Demand: Adipec Update

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 1, 2022 | Comment off

An excess of supply in the oil market was the main reason for OPEC+ opting to cut production earlier this month, according to the group’s secretary-general.

Giant Oil Traders Are Pivoting To Lithium And Battery Tech

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | November 1, 2022 | Comment off

Breaking news: the much-touted commodity market boom is officially over. Metals, energy, and agriculture prices have all tumbled from their March peak as inflationary pressure, higher interest rates and a brawny dollar took a heavy toll on the two-year rally.