A new wave of LNG supply is set to hit the markets in the coming years as the two biggest exporters of the super-chilled fuel, the United States and Qatar, are preparing for a major boost to capacity.
Canada is expected to continue growing as an oil power in the coming years as the Alberta government signs new expansion deals, a new tanker terminal is opened in Vancouver, and Prime Minister Justin Trudeau resigns.
Shell has launched production from its Whale floating production facility in the US Gulf of Mexico, the company said on Thursday.
Malaysia’s national oil and gas company announced Thursday a positive final investment decision (FID) on the Hidayah field, part of the North Madura II Production Sharing Contract (PSC) in the waters of East Java province, Indonesia.
Clean energy and industrial gas company Chart Industries has signed a global master goods and services agreement with ExxonMobil, Chart Industries announced on Wednesday.
The pace of sales for February-loading Angolan oil is faster than the last couple of months, with only 20-30 percent of next month’s supplies still seeking buyers.
Drilling in the ANWR, the largest national wildlife refuge, was off-limits for decades and the subject of fierce political fights between environmentalists and Alaska’s political leaders, who have long supported development in the coastal plain.
The increase in new exploration projects reflects the growth in demand for natural gas from Norway, following the Russian invasion of Ukraine and subsequent sanctions on Russian oil. Norway is Western Europe’s largest oil and gas producer, with an output of more than 4 million bpd, and the government aims to continue increasing production for several decades.
The price of crude oil globally ended the Year 2024 in the low $70s per barrel. At this price, the government should seize the opportunity to reduce the prices of fuel and reset the economy. The high price of fuel and food has led to high inflation and high cost of living.
Doubts about oil demand growth will persist beyond 2024, and fears of a price slump will be there to keep them company. That’s according to some recent predictions about the state of the oil market in 2025, which see demand growing, China directing the market, and OPEC still likely to unwind its production cuts.