Tag Archives: IHS Markit

The global oil market was tight even before the Russian invasion of Ukraine, but Putin’s war and its consequences on Russian crude supply and energy prices have the potential to hurl the market into a major supply shock comparable with the 1973 Arab oil embargo. Oil stocks in major oil-consuming …

China’s refinery output hit a record in 2021, up 4.3% from 2020, on robust first-half fuel demand and as refiners ramped up processing to fill a supply gap after a hefty new tax closed loopholes in blending fuel imports. Total refinery throughput last year reached 703.55 million tonnes, or 14.07 …

OPEC+ did some surprising things in the past 2 years. 1st, it broke up at the start of the pandemic with its 2 leaders – Saudi Arabia and Russia – turning on each other because of differences of opinion on how the crisis needed to be handled. Then the 2 …

“Our products make the world run.” This is what Chevron’s chief executive Mike Wirth said at this week’s World Petroleum Congress in Houston. The statement echoed a sentiment expressed by other oil executives attending the event—oil and gas are indispensable and will continue to be indispensable for the observable future …

The era of cheap natural gas is over, giving way to an age of far more costly energy that will create ripple effects across the global economy. Natural gas, used to generate electricity and heat homes, was abundant and cheap during much of the last decade amid a boom in …

The era of cheap natural gas is over, giving way to an age of far more costly energy that will create ripple effects across the global economy. Natural gas, used to generate electricity and heat homes, was abundant and cheap during much of the last decade amid a boom in …

Natural gas could become a pillar of emissions reduction both in the near and long term, IHS Markit said in a new study this week. While many analysts and net-zero advocates have started to question the role of natural gas in global emissions reductions, IHS Markit has a different view. …

China has been raising its marine fuel sales in recent years, aiming to grow its share of Asia’s large bunkering market, which is valued at more than US$30 billion and is dominated by Singapore, Bloomberg reports. Singapore, the leader of the bunkering market, sold nearly 50 million tons of marine …

National carbon prices and similar mechanisms are urgently needed as a part of countries’ concrete national net-zero policies, International Energy Agency (IEA) Executive Director Fatih Birol told the World Bank Group’s virtual climate action event Innovate4Climate on 26 May. The IEA recently released a report describing how a rapid rise …

Italian energy company ENI is considering spinning off its combined retail power and renewable energy activities through a public listing next year or selling a minority stake in them to capitalize on buoyant market conditions, it said 30 April in its quarterly earnings. The announcement comes less than a year …