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Chinese refiners processed 39% more crude oil last month, with the total at 60.83 million tons, or 14.86 million barrels daily, official data cited by Reuters showed. The November daily average was a slight dip from October, when the average refinery throughput stood at 14.94 million barrels, but this was …

Advancing ice has prevented an LNG carrier from loading a cargo at Novatek’s Arctic LNG 2 plant, Bloomberg reported today, citing ship-tracking data. The Buran, an Arc4 ice-class vessel that can move through icy waters, but up to a point, set off for the Arctic LNG 2 project on the …

Coal- and gas-fired power generation in China is on course for an annual decline for the first time since 2015, unless demand surges this month. Over the first 11 months of the year, electricity generated from coal and gas plants ticked down by a modest 0.7%, Bloomberg reported today, citing …

The global market for artificial intelligence (AI) chips is projected to skyrocket from $203.24 billion in 2025 to nearly $565 billion by 2032, driven by an insatiable demand for real-time analytics and generative AI capabilities. According to a new report by MarketsandMarkets™, the sector is forecast to expand at a …

The total number of active drilling rigs for oil and gas in the United States fell by 1 this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 548 this week, according to Baker Hughes, down 41 from this …

Hungary has secured an agreement to receive natural gas from Azerbaijan for the next two years, Hungarian Foreign Minister Peter Szijjarto said, as the central EU member state disputes the bloc’s pledge to phase out Russian gas imports. “We have secured another gas purchase agreement, this time with Azerbaijan: 800 …

Global oil demand will rise by about 1.4 million barrels per day (bpd) next year, supported by solid economic growth, OPEC said in its monthly report ton Thursday, keeping its demand forecasts unchanged from last month. Unlike other forecasters, investment banks, and analysts, OPEC continues to expect robust demand growth …

The oil market still faces record oversupply next year, according to the monthly report by the International Energy Agency (IEA), but the glut estimate is now trimmed by about 230,000 barrels per day compared to the November forecast. The market is headed to as much as 3.84 million barrels per …

China plans to launch commercial operations at the world’s first small modular reactor (SMR) to generate nuclear energy as early as in the first half of 2026, according to the president of the China Institute of Nuclear Industry Strategy. The Linglong One reactor was the first SMR to be approved …

The supertanker market has tightened this year as crude supply from OPEC+ and the Americas rises and vessels make increasingly longer trips. So much has the market tightened that several new-built very large crude carriers (VLCC) have made empty maiden voyages from yards in Asia to pick supply from producing …