Parvin Faghfouri Azar

IEA will soon Free all Its Energy Data

If you’ve unlocked some recent International Energy Agency (IEA) data for a few thousand dollars, it could be the last time you are required to do so. The IEA is suggesting that it could make all its data and analyses free and available to all, Quantum Commodity Intelligence reported on …

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Oil Price Nears $83 as Fears over Omicron Ease

Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand remained surprisingly resilient to the current Omicron-led wave of COVID-19 cases which spooked markets in late 2021. Brent crude futures, which traded close to $83 per barrel earlier on Friday, …

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Exxon Makes 2 New Discoveries Offshore Guyana

ExxonMobil announced that it has made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well, which was drilled in 6,030 feet of water, is said to have encountered approximately 164 feet of high-quality oil-bearing sandstone reservoirs. Lau Lau-1, which was drilled in …

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Global Gas Shortage Worsens as Emerging Asia Joins the Hunt

The hunt for natural gas is spreading to Asia’s developing economies, with India and Indonesia adding to the global demand pressure. Indian Oil Corp. and Gujarat State Petroleum Corp. have recently bought spot cargoes of liquefied natural gas after being absent from the market for months, according to traders. Indonesia …

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