Crude oil prices ticked up today, after the U.S. Energy Information Administration reported an inventory draw of 6.3 million barrels for the week to September 1.
Moldova’s energy minister says the government will propose that Moldovagaz, a subsidiary of Gazprom, pay the Russian gas giant $8.6 million to settle a debt that Gazprom says is more than $700 million.
Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices.
A Bloomberg report that workers on Chevron’s Gorgon and Wheatstone LNG projects have delayed strike action until Friday is being viewed as a sign talks are going well, as strikes were meant to begin Thursday. The positive conclusion to last week’s talks between Woodside and unions is another indication the worst-case scenario is unlikely.
MUSCAT, August 31, 2023 – Oman LNG has signed term-sheet agreements with Shell and OQ for the supply of LNG, the LNG producer announced via social media on Wednesday.
NEW DELHI, August 31, 2023 – ONGC has set plans to spend USD 24.2 billion on clean energy projects under its drive to have net-zero carbon emissions by 2038, the company’s Chairman and CEO Arun Kumar Singh announced on Tuesday.
Earlier in the year, Wall Street was mostly bearish about the U.S. economic outlook with many warning of a looming recession. Not surprisingly, many oil punters expected oil demand to crash as unemployment rose and companies cut output thanks to aggregate demand falling.
Crude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory decline of 10.6 million barrels for the week to August 25.
Oman has an importance to China and Iran that goes way beyond its relatively small oil and gas reserves (only around five billion barrels of oil reserves and about 24 trillion cubic feet of gas).
Petroliam Nasional Bhd (Petronas) is keenly waiting for Argentina’s Congress to complete the legislative process of a law relating to the liquefied natural gas (LNG) industry before deciding whether to proceed with its plans to collaborate with the Latin American nation’s state-controlled energy firm YPF S.A. on an LNG project.