The UN’s Cop 29 climate summit in Azerbaijan will focus on speeding the delivery of goals set at Cop 28 as well as expanding and adding new solutions for the integration of renewables.
The US Energy Information Administration raised its Brent crude price forecast due to OPEC+ production cuts and falling oil outputs. Still on falling oil outputs, Ghana is facing an economic crisis because of diminishing foreign exchange reserves and high fuel prices. Meanwhile, S&P Global Commodity Insights editors are focusing on the price hikes for hot-rolled coil amid multiple mill outages.
Eni SPA has set a target net capital expenditure of EUR 7 billion ($7.6 billion) yearly from 2024 to 2027, down more than 20 percent compared to last year’s plan.
It was a week when oil prices surged to the highest levels in four months, while natural gas futures continued the southward journey.
U.S. oil and gas exploration and production companies spent as much as $234 billion on mergers and acquisitions (M&A) last year—the highest such spend in real dollar terms since 2012, the Energy Information Administration (EIA) said in an analysis on Tuesday.
Day 2 of CERAWeek by S&P Global kicked off in Houston, Texas, with a discussion between Dan Yergin, Vice Chairman of S&P Global, and Mike Wirth, CEO of Chevron. The two touched on several oil and gas industry hot topics, including artificial intelligence, Biden’s LNG ban, Chevron’s dispute with ExxonMobil regarding its stake in the oil-rich Stabroek block offshore Guyana, and more.
The upward trend in oil and gas exploration activities persisted in February as the rig count, an index of measuring upstream activities, rose year-on-year, YoY, by 23 per cent to 16, in February 2024, from 11 in the corresponding period of 2023.
India is set to import in April its highest oil volumes from the United States in 11 months as the stricter enforcement of the U.S. sanctions against Russia are slowing Russian crude flows to the world’s third-largest crude importer.
Oil prices are steadily increasing, with this week’s momentum bolstered by drone strikes on Russian refineries in Ukraine.
The countries of the Eurasian Economic Union held consultations on the common energy markets, BelTA learned from the press service of the Eurasian Economic Commission.