The UN climate summit in the United Arab Emirates in 2023 ended with a call to “transition away from fossil fuels”. It was applauded as a historic milestone in global climate action. Barely a year later, however, there are fears that the global commitment may be losing momentum, as the growth of...
Oil & Companies News
Oil gains on US, Russia supply worries; market seeks Ukraine talks clarity Reuters
Oil prices edged up on Wednesday amid worries of oil supply disruptions in the U.S. and Russia, and as markets awaited clarity on the Ukraine peace talks. Brent crude futures were up 41 cents, or 0.5%, at $76.25 a barrel at 0720 GMT, and possibly set for a third day of gains. U.S. West Texas …
Global oil and gas contract value remains stable despite volume decline in Q4 2024, reveals GlobalData
The global oil and gas industry experienced a 15% quarter-on-quarter decrease in the total number of contracts, from 1,596 in Q3 2024 to 1,353 in Q4 2024. Despite the dip in volume, the overall contract value remained stable, driven by the announcement of some major contracts in Africa, reveals...
The Commodities Feed: Supply risks vs peace talks
Energy Supply uncertainty The oil market appears to have found some support with ICE Brent edging higher yesterday, moving closer towards US$76 per barrel. There have been reports that OPEC+ may delay increasing supply to the market. The group’s members were set to gradually restore levels to 2.2m...
https://www.hellenicshippingnews.com/the-commodities-feed-supply-risks-vs-peace-talks/
India’s natural gas use target hinges on higher gas-fired power generation
India’s plan to boost the share of natural gas in its energy mix hinges on lower global liquefied natural gas (LNG) prices that will make gas-fired electricity generation more competitive, industry officials said this week. The world’s fourth largest LNG importer aims to raise the share of natural...
Oil inches up on Kazakhstan supply disruption
Brent crude oil prices advanced on Tuesday adding to gains in the previous session after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, but gains were capped on the prospects of supply rising soon. Brent crude futures gained 23 cents, or 0.3%, to $75.45...
https://www.hellenicshippingnews.com/oil-inches-up-on-kazakhstan-supply-disruption/
The Commodities Feed : Potential restart in Kurdish oil exports
Energy Despite the downward pressure on oil prices through much of last week, the market still managed to eke out a small gain with ICE Brent settling 0.11% higher on the week. However, timespreads have weakened significantly since peaking in January, suggesting that the tightness in the physical...
https://www.hellenicshippingnews.com/the-commodities-feed-potential-restart-in-kurdish-oil-exports/
Oil prices steady as Russia-Ukraine peace talks loom
Oil prices were little changed on Monday, as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows. Brent crude futures ticked up 5 cents, or 0.07% to $74.79 a barrel at 1003 GMT, while U.S. West Texas Intermediate crude was up...
https://www.hellenicshippingnews.com/oil-prices-steady-as-russia-ukraine-peace-talks-loom/
India eyes Oman, other nations as potential oil storage options: ISPRL
India is looking at Oman and other Middle Eastern countries as potential strategic oil storage options while also pushing for reserves at home, as it looks to accelerate capacity expansion amid geopolitical tensions, the chief executive officer of Indian Strategic Petroleum Reserves Ltd. said....
Oil Refiners Adding Renewable Feedstock To Produce Cleaner Fuels, Executives Say
Oil refiners are increasing their efforts to blend renewable feedstocks such as used cooking oil into their crude refining streams to meet global demand for cleaner fuels. As a result, demand for catalysts and additives to remove the impurities from bio-feedstock has risen, Maurits van Tol, chief...