(By Oil & Gas 360) – The global energy landscape continues to evolve at an unprecedented pace, with Asia emerging as the epicenter of the industry’s transformation. Shifting geopolitical dynamics, evolving trade corridors, changing production policies, and rising energy demand are creating a market that is more interconnected and more volatile than at any point in recent history. For investors,
(Oil & Gas 360) By Greg Barnett, MBA What the EIA’s Monthly Energy Review May Really Be Telling Us About America’s Energy Future Between the mid-2000s and the early 2020s, U.S. electricity consumption remained largely stagnant despite population growth and economic expansion. Efficiency gains offset much of the underlying growth in demand. According to EIA forecasts, that era may now
(Oil Prices) – OPEC+ is preparing to approve one more production increase for September and then put the monthly quota parade on hold through the end of the year. Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman are expected to raise their combined September target by about 188,000 barrels per day when they meet on August 2, sources told Reuters.
(BOE Report) – Baker Hughes said on Monday it expects annual global spending by oil and gas producers to decline modestly this year, with growth in Latin America, offshore Africa, and North America land offset by lower spending in Europe and the Middle East. The Middle East conflict has dominated energy markets this year, with repeated flare-ups in tensions between
(World Oil) — Eni and TotalEnergies have reached a final investment decision (FID) to develop the Cronos gas field offshore Cyprus, advancing the country’s first natural gas project and establishing a new LNG export route from the Eastern Mediterranean to European markets. Eni, which operates Block 6 with a 50% interest alongside TotalEnergies (50%), said the deepwater Cronos field contains more than 3 Tcf of
(BOE Report) – Oil prices fell on Monday, settling at their lowest levels in over a week, after the U.S. abruptly suspended a campaign of air strikes against Iran over the weekend, raising hopes of a diplomatic solution that would allow shipping to resume in the Strait of Hormuz. Brent crude futures fell $8.42, or 8.7%, to settle at $88.36
RIYADH – Oman has presented a proposal to Iran for joint regional management of the Strait of Hormuz with shipping firms paying voluntary fees, a Gulf source told Reuters on Tuesday. The Strait of Hormuz — which carried a fifth of global oil and liquefied natural gas before the Iran war — has become the main hurdle in peace talks and
(Oil Price) – The spike in oil prices and slowing private investments have been weighing on India’s economic growth, which is now seen at 6.6% in the fiscal year to March 2027, a full percentage-point drop from the 7.7% GDP growth in the prior fiscal year, a Reuters poll of economists showed on Tuesday. Nearly three dozen economists were surveyed between
(BOE Report) – U.S. natural gas futures slid about 4% to an 11-week low on Monday on record output, lower flows to liquefied natural gas export plants, and ample amounts of gas in storage. Front-month gas futures for August delivery on the New York Mercantile Exchange fell 10.4 cents, or 3.6%, to settle at $2.767 per million British thermal units.
(World Oil) – PetroChina Co. is weighing options to sell part of its shares in LNG Canada Development Inc. to help fund a planned expansion, according to people familiar with the matter. The Chinese state-owned energy giant is working with an adviser to help gauge interest for its 15% stake, which could be worth a few billion dollars, the people said, who asked not
