Energy: Fed testimony weighs on oil The oil market came under significant pressure along with other risk assets following Jerome Powell’s hawkish testimony to the Senate Banking Committee. ICE Brent settled almost 3.4% lower yesterday, which also saw the market breaking below the 50-day moving...
https://www.hellenicshippingnews.com/the-commodities-feed-testimony-weighs-on-the-complex/
BP (NYSE:BP) hasn’t fallen out of love with renewables. It just wants to have more power. CEO Bernard Looney’s pursuit of green energy outstripped all rivals three years ago when he outlined a radical blueprint to move away from fossil fuels. Last month he applied the brakes, slowing BP’s planned...
https://www.hellenicshippingnews.com/inside-bps-plan-to-reset-renewables-as-oil-and-gas-boom/
Chevron remains on track to expand crude oil production in the Permian basin to 1m bbl/day from 700,000 bbl/day even amid a persistent shortage in labour and equipment, the CEO of the US-based energy producer said on Monday. For comparison, Chevron produced 100,000 bbl/day of oil in the Permian a...
https://www.hellenicshippingnews.com/us-chevron-to-expand-permian-oil-output-amid-labour-shortages/
Poland’s PKN Orlen will demand compensation after Russia halted oil deliveries to Poland via the Druzhba pipeline in late February, Chief Executive Officer Daniel Obajtek said on Monday, without giving further details. “… Russians stopped pumping oil to Poland…so we will now take legal action and...
U.S. energy executives and top OPEC officials on Monday discussed concerns about a lack of spare oil production capacity at a private dinner on the sidelines of a Houston conference, an executive who attended said. The dinner with shale producers and OPEC officials continued a tradition that began...
The oil market has stabilised beacause the worst fears about shortages of crude, gas and fuel in the wake of Russia’s invasion of Ukraine did not come to pass, Gunvor Chief Executive Torbjorn Tornqvist said. Crude prices may rise in the second half of the year as Chinese demand returns to the...
Energy: China’s crude oil imports slow Crude oil traded relatively flat with a positive bias yesterday as supply concerns and a weaker US dollar provided support to an otherwise dull market. The broader commodity complex is also tracking Federal Reserve Chair Jerome Powell’s testimony this week...
https://www.hellenicshippingnews.com/the-commodities-feed-el-nino-weighs-on-agriculture-supplies/
The global natural gas market has been more fundamentally changed for the long term than the oil market by Russia’s invasion of Ukraine, Chevron Corp. Chief Executive Mike Wirth said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted...
Natural gas producer Chesapeake Energy Corp CHK.O said on Monday it would supply Gunvor Group Ltd up to 2 million tonnes of liquefied natural gas (LNG) annually for 15 years. U.S. LNG exporters have witnessed demand soar after Western sanctions on major producer Russia squeezed an already-tight...
https://www.hellenicshippingnews.com/chesapeake-strikes-15-year-lng-supply-deal-with-gunvor/
Oil prices were little changed on Tuesday, after rising for the past five sessions, as concerns about limited spare capacity in the market and uncertainty over Russian supplies offset mixed oil data from top crude importer China. Brent crude futures rose 18 cents to $86.36 per barrel by 0730 GMT...
https://www.hellenicshippingnews.com/oil-steady-as-supply-worries-offset-china-demand-uncertainty/