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Analysts polled by Reuters raised their oil price forecasts for a second consecutive month, expecting the OPEC+ cuts to continue tightening the market, although few see $100 oil due to the still uncertain global economic outlook. The Reuters September Oil Poll showed on Friday that 42 economists and analysts now …

The French government will significantly increase public spending on green energy projects while curbing the support to households to help them with the high energy prices, according to the 2024 budget. Budget 2024 will be “the greenest in our history,” France’s Finance Minister Bruno Le Maire said on Wednesday, announcing …

In an otherwise down market staring at a slow recovery in 2023, only India stands apart from the rest of the world in terms of aluminum production and consumption. Indeed, the government’s push for new infrastructure, especially for green energy, continues to drive domestic consumption and overall stability for aluminum …

The EIA reports that delays at the Panama Canal because of low water levels are causing very large gas carrier (VLGC) rates to reach record highs, increasing the cost of shipping LPG. The Panama Canal is a major energy transit point, and water levels at its crucial Gatún Lake were …

Equinor, an oil and gas company, has signed long-term gas supply deal with Austrian energy company OMV. Starting 1 October 2023, the five-year agreement will see Norway’s Equinor supply 12 terawatt-hour (TWh) of gas annually. Equinor said it will deliver the gas at the Trading Hub Europe in Germany. The …

Saudi Arabia has signed a deal with Greece for the establishment of a jointly-owned company to link up the two countries’ power grids with the goal of supplying Europe with clean energy, Reuters reports. The new company, Saudi Greek Interconnection, joins Greece’s IPTO and Saudi Arabia’s National Grid, each with …

Wood Mackenzie has released a new energy storage market report, with a new record high for US installations for the second quarter of 2023. The United States deployed 1,680 MW/5,597 MWh of energy storage nationwide, leading to an average duration of 3.3 hours. However, second-quarter installations were significantly lower than …

Egypt immediately awarded four blocks of an oil and gas exploration bid round in the Mediterranean and Nile Delta to Italy’s Eni, the UK’s BP, QatarEnergy and Russia’s Zarubezhneft, the Egyptian Petroleum Ministry announced on Tuesday. Eni will take two of the blocks and a third in a coalition with …

Turkey has agreed to send natural gas via pipeline to Romania starting from Oct. 1 and running until March 31, 2025, the Turkish Petroleum Pipeline Corporation (BOTAS) announced on Wednesday. The agreement between BOTAS and Romania’s OMV Petrom, one of the largest energy companies in the region, will cover the …

Due to port maintenance works, Russian crude oil exports by sea dipped by around 100,000 barrels per day (bpd) to 3 million bpd last week and by 100,000 bpd to 3.2 million bpd in the four weeks to September 24, tanker-tracking data monitored by Bloomberg showed on Tuesday. Last week, …