Tag Archives: Oil Price

Saudi Aramco, the world’s largest oil company, is looking to raise up to $3 billion from U.S.-dollar denominated Islamic bonds, Reuters reported on Tuesday, quoting sources with direct knowledge of the plans. Aramco, which is also the world’s single biggest crude oil exporter, plans to issue Islamic bonds, the so-called …

Crude oil exports from Libya have crumbled to around 400,000 barrels per day (bpd) this month from 1 million bpd in August as the political standoff in OPEC’s North African producer continues, Reuters reported on Tuesday, citing data from ports and ship-tracking services. Most of Libya’s oil exports this month …

The United States is exporting gasoline more than any other nation in the world, supplying more than 16% of all exports of the fuel globally, the U.S. Energy Information Administration (EIA) said in an analysis on Tuesday. Last year, U.S. motor gasoline exports (finished gasoline plus gasoline blending components) averaged …

OPEC’s latest World Oil Outlook (WOO) 2024 makes it clear: peak oil demand is not on the horizon. Despite ongoing discussions around transitioning to renewable energy, OPEC forecasts global oil demand to grow significantly, reaching over 120 million barrels per day (mb/d) by 2050. This projection is driven by strong …

Canada and Mexico are rushing to fill the natural gas vacuum left by the United States’ ongoing moratorium on new liquefied natural gas (LNG) export permits introduced by the Biden Administration in January of this year. The country’s neighbors to the north and south are speeding up their own export …

When the Labour Party came into power, it vowed to tax the oil and gas industry more. Warnings this might backfire fell on deaf years. Now, banks are refusing to lend to North Sea operators. It may well end with energy shortages. “To deliver our clean power mission, Labour will …

Shell Plc has ditched plans to build a low-carbon hydrogen plant on Norway’s west coast due to a lack of demand, Reuters reported on Monday. “We haven’t seen the market for blue hydrogen materialize and decided not to progress the project,” a Shell spokesperson has told Reuters. Shell’s announcement comes …

China’s crude oil imports from Russia jumped by 25.6% month-on-month in August as Beijing last month welcomed the highest monthly crude arrivals so far this year, taking advantage of cheaper supplies. China imported 2.21 million barrels per day (bpd) of crude from Russia in August, according to data from the …

France will pursue a shift away from fossil fuels and will support nuclear and renewable energy as the new government will look to lower household bills, the new French energy minister said on Monday. Agnes Pannier-Runacher, who was appointed France’s energy, environment, and climate minister this weekend, on Saturday said …

RBC CEO Dave McKay believes Canada plays a critical role in the energy security of the United States, especially when it comes to supplying oil and gas to Asia. Speaking in Toronto, McKay highlighted that while the U.S. focuses on “Buy American,” they rely on Canadian energy to meet global …