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Recent data from Kpler reveals a significant decline in crude oil exports from major OPEC+ producers in June, driven largely by weak demand in Asian markets and increased domestic consumption in the Middle East. This has resulted in Saudi Arabia’s exports plummeting to their lowest level in over a decade. …

British Oil & Gas giant BP Plc has predicted that global oil demand will peak next year while wind and solar capacity will continue to grow rapidly. In its latest edition of its annual Energy Outlook, BP has published a study of the evolution of the global energy system to …

OPEC has stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, citing resilient economic growth and strong rebound in air travel in the summer months. In its latest Monthly Oil Market Report (MOMR), OPEC has predicted that global oil demand would rise by …

Russia’s natural gas producer Novatek is offering liquefied natural gas to potential Chinese customers through a new marketing team, although it’s uncertain whether the Russian company would attract many clients with attractive prices, Chinese traders told Reuters on Wednesday. Novatek is now offering part of an LNG cargo from its …

For the first time in its nearly three-decade history, Norway’s oil fund, the world’s largest sovereign wealth fund, has just exceeded the market value of 18 trillion Norwegian crowns, which equals $1.691 trillion as of Wednesday. Government Pension Fund Global, as the Norwegian fund is officially known, was created in …

Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. The FTSE 100 oil major, which in April surprised investors with a better-than-expected oil and …

Saudi state oil giant Aramco plans to raise at least $3 billion from a new bond issue that would be its first in three years, sources with knowledge of the matter told Bloomberg on Tuesday. Saudi Aramco plans to offer bonds with 10, 30, and 40 years of maturity and …

Executives and shareholders of some of the largest companies in Russia have pocketed the equivalent of more than $11 billion in dividends in the past year as many firms resumed dividend payments, a Bloomberg analysis showed on Tuesday. At least 12 Russian executives, former executives, and shareholders of some of …

The European Union’s capacity to produce 155 mm artillery ammunition may be less than half as large as public estimates by senior EU officials indicate, affecting the bloc’s ability to keep promises about supplies to Ukraine, Schemes and its partners in a journalistic investigation have found. The finding is a …

Italy’s supermajor Eni has announced a new natural gas discovery in the Gulf of Mexico, in the mid-deep waters off the Mexican coast. The discovery contains an estimated potential reserve of 300 to 400 million barrels of oil equivalent, the company said. The block where Eni was drilling for gas …