Tag Archives: Bloomberg News Agency

Natural gas giant Qatar Petroleum predicted global demand for the fuel will continue to climb for almost two decades, making it far more optimistic than the International Energy Agency. QP expects consumption to grow at a rate of 1.5% a year, driven higher by economic growth and a broad shift …

Saudi Aramco outlined plans to invest in blue hydrogen as the world shifts away from dirtier forms of energy, but said it will take at least until the end of this decade before a global market for the fuel is developed. “We’re going to have a large share” of the …

With oil prices rising to levels not seen in over two years, US shale, bouncing off one of its worst-ever years, could be looking at record profits in 2021. Oil execs and producers are historically pretty good at making money. Oil is a roller coaster of an economic sector, based …

Japan restarted the first nuclear reactor in more than three years, a long-awaited step forward for the nation’s utilities that are struggling to gain local support and fulfill onerous regulatory requirements. Kansai Electric Power Co. on Wednesday morning resumed operations of its Mihama No. 3 reactor, which has been offline …

Russia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter. Moscow expects the current global oil-output deficit to persist in the medium term, two officials said, asking not to …

India started buying prompt shipments of liquefied natural gas from the spot market after a two-month absence, indicating a rebound in demand as the nation exits a deadly phase of the Covid-19 pandemic. Petronet LNG Ltd. and Indian Oil Corp. awarded tenders for delivery over the next few months, the …

China’s Silk Road Fund and Hassana Investment Co., controlled by the Saudi Arabian government, joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines. The consortium, led by U.S. firm EIG Global Energy Partners LLC, has now closed a deal to acquire a 49% equity stake in Aramco Oil …

China’s Silk Road Fund and Saudi Arabia’s Hassana Investment Co. have joined a group of investors in Saudi Aramco’s oil pipelines. The consortium led by U.S. group EIG Global Energy Partners LLC acquired a 49% equity stake in Aramco Oil Pipelines Co. for $12.4 billion, according to an emailed statement. …

India’s fuel demand jumped by 13 percent in the first two weeks of June, for a first monthly rise since March, suggesting that the worst of the impact of the second COVID wave has peaked and consumption is rebounding. Sales of diesel, the most used road fuel in the world’s …

Oil is expected to rise further this year amid supply constraints and higher demand as global economies continue to rebound from the coronavirus pandemic on the back of vaccination programmes and stimulus measures. And when the global economy regains its pre-pandemic momentum in a couple of years, crude could rise …