Oil prices were up early on Tuesday morning, but both WTI and Brent remain on course for a fourth consecutive monthly loss, although there are some bullish catalysts looming in March.
Oil prices rose in Asian trade on Tuesday, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further U.S. interest rate hikes dragging on consumption in the world’s biggest economy.
The Institute for Energy Security (IES) is calling on government to come clear on the 600,000 barrels Russian crude oil aboard MT Theseus.
Oil prices edged up in volatile trade on Monday, as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March, but a stronger dollar and fears of recession capped gains.
Western-led gas and condensate producer Karachaganak has reported another hiccup in hydrocarbons output for Kazakhstan as the operator deals with gas processing and shipping capacity restrictions while also working to mitigate ongoing depletion of its underground reservoirs.
When Russian tanks and troops rolled into Ukraine one year ago, it was no shock that crude prices spiked above US$100 per barrel for the first time since 2014.
Until recently, Guyana was relatively unknown to international investors. The small English-speaking country of about 800,000 people was one of the poorest in South America. Its position between Suriname, Brazil and Venezuela — the latter two being large oil-producing nations — meant Guyana was often overlooked.
Dubai, UAE: In conjunction with the ‘UAE Innovates’ initiative and in preparation for the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP 28), the Ministry of Energy and Infrastructure (MOEI) in the UAE organised an awareness workshop for organisations in the maritime sector from the government and private sectors to solicit ideas for maritime initiatives and projects.
The African Energy Chamber (AEC) (www.EnergyChamber.org), serving as the voice of the African energy sector, recently conducted a working visit to Ghana, meeting with key institutions and stakeholders to discuss the state of play of the country’s oil and gas sector.
North Africa has become a key export outlet of Russia’s diesel and other petroleum products after the EU embargo on imports of Russian fuels took effect in early February.