U.S. natural gas producers and shippers could be one of the big winners of the latest advances in Artificial Intelligence.
The surge in data centers amid the booming AI technology development is set to lead to higher U.S. natural demand and prices by the end of the decade, according to investment bank Tudor, Pickering, Holt & Co.
Azerbaijan has announced its first solar auction and will seek private support for the design, financing, operation and maintenance of a 100MW project in the eastern municipality of Gobustan.
Poland’s Ministry of Climate and Environment has taken into account the MinFin’s comments to the draft on the partial unfreezing of energy prices from July this year, which indicate that the cost of the law will be PLN 8.1 billion (EUR 1.88 bln), rather than PLN 6.3 billion (EUR 1.46 bln), according to the climate ministry’s response to the inter-resort consultation.
Diversified energy company Genser Energy commissioned a 110km natural gas pipeline to propel Ghana’s power sector and foster economic growth.
The Competition Tribunal has approved the proposed acquisition of petrol station brand Engen by independent energy marketing and trading company Vitol Emerald, subject to a set of competition and public interest conditions.
Crude oil prices ticked higher today after the U.S. Energy Information Administration reported an estimated decline of 6.4 million barrels in inventories for the week to April 19.
Reuters: This month, Russia is expected to pocket $14 billion from oil & gas.
Russia’s oil and gas revenues slumped by 23.9% last year compared to 2022.
Reuters estimates that Russia’s revenues from oil and gas for 2024 would be 30% higher compared to 2023.
With no major outbreak in fighting in the Middle East, investors seem less concerned about any impact on the flow of oil out of the region. As a result, prices fell in Wednesday’s trading.
At the same time, crude inventories across the U.S. tumbled and it stopped a further fall in oil prices.
Oil prices increased by 12.9% in the first quarter of 2024, albeit with much volatility due to concerns that global geopolitical tensions will cause supply disruptions.
Crude oil prices began the week with a loss as fears of an escalation between Iran and Israel dissipated.