The start of operations by the Nord Stream 2 gas pipeline in the fourth quarter of this year could drive natural gas prices in Europe down to their lowest levels, Saxo Bank forecasts. On Monday, Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline, announced the …
Read More »Eni and BP Looking to Raise $2bn for Proposed Oil and Gas JV in Angola
Eni and BP are reportedly mulling to raise up to $2bn to fund their proposed oil and gas joint venture in Angola. In May 2021, the two firms started talks to merge their Angolan oil, gas and LNG assets in a new joint venture (JV) company to form one of …
Read More »Kremlin won’t Prejudge any Outcome of Coming OPEC+ Ministerial Meeting
The Kremlin won’t prejudge any outome of the coming regular video conference of the OPEC+ ministers, Kremlin spokesman Dmitry Peskov told reported on Monday. “Traditionally we would not like to prejudge any outcome of such a meeting,” he said responding to a relevant question. When asked if the Russian President …
Read More »Qatar Petroleum Confirms First Chinese LNG Carrier Orders
Qatar Petroleum has ordered its first Chinese-built gas carriers, opting for four LNG carriers from Hudong-Zhonghua Shipbuilding in a deal worth approximately $770m. These four carriers are the first batch of orders in Qatar Petroleum’s massive LNG shipbuilding program, which will cater for future LNG fleet requirements for the North …
Read More »OPEC+ Remains in Control of Oil Market as Ministers Meet again
OPEC+ remains very much in control of the oil market as ministers gather for their monthly meeting. Crude is trading just below $80 a barrel in London, the highest in almost three years, and the cartel’s production policy will be the main factor influencing prices in the coming months, according …
Read More »China Energy Crunch may Boost Overseas Metal Producers
The energy crunch in China has some obvious winners, with coal and liquefied natural gas (LNG) prices surging to record highs, but the outlook for other commodities is more mixed and dependent on how the crisis plays out. China’s officials have been scrambling in recent days to ensure that the …
Read More »OPEC Records Huge Oil Export Drop in 2020
The Organisation of Petroleum Exporting Countries (OPEC), saw a sharp decline in its global crude export in 2020, following disruptions occasioned by the COVID-19 pandemic. According to available data, OPEC member countries exported an average of 19.70 million barrels a day, mb/d of crude oil in 2020, a sharp decrease …
Read More »Iran Planning to Meet 50% of Its energy Needs from Nuclear Power Plants
Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami said Iran has set a goal to meet 50 percent of the country’s demand for 10,000-16,000 MW of electricity by building new [nuclear] power plants with a combined capacity of 8,000 MW. Eslami made the remarks in an exclusive …
Read More »Qatar Places $760 Million Order for Liquid-Gas Ships with China
Qatar ordered four new liquefied natural gas tankers worth more than 2.8 billion rials ($762 million) from a Chinese shipbuilder, as demand for the fuel booms. State energy firm Qatar Petroleum said Sunday the vessels will be built by Hudong-Zhonghua Shipbuilding Group Co., a subsidiary of China State Shipbuilding Corp. …
Read More »Winter Is Coming: Europe Grapples with Gas Prices
Energy prices are soaring around the world as the global economy’s rebound from the COVID-19 pandemic strains with decrease of supplies ahead of a predicted long winter in the Northern Hemisphere. This increase is particularly high in Europe, where gas prices are trading near record levels. Not only households are …
Read More »