LONDON, April 11 (Reuters) – OPEC predicted robust fuel use in the summer months on Thursday and stuck to its forecast for relatively strong growth in global oil demand in 2024, highlighting an unusually large gap between predictions of oil demand strength. The Organization of the Petroleum Exporting Countries, in a monthly report, said world […]

LONDON, April 11 (Reuters) – OPEC predicted robust fuel use in the summer months on Thursday and stuck to its forecast for relatively strong growth in global oil demand in 2024, highlighting an unusually large gap between predictions of oil demand strength. The Organization of the Petroleum Exporting Countries, in a monthly report, said world […]

Greater recognition of technical challenges and a new, more collaborative approach to addressing them, is key to securing economic, environmental and security benefits linked to the growth in offshore wind, and keeping the UK at the vanguard of technology development, says Tony Quinn, Director of Technology Development at the Offshore Renewable Energy Catapult. A number of […]

The OPEC Secretariat has noted the announcements  made by several OPEC+ countries extending additional voluntary cuts of 2.2 million barrels per day, aimed at supporting the stability and balance of oil markets. These voluntary cuts are calculated from the 2024 required production level as per the 35th OPEC Ministerial Meeting held on June 4, 2023, and are in […]

Leading IOCs are affirming their commitment to African oil and gas – a positive indication for service providers, drilling contractors and the industry at-large. Speaking in Nigeria earlier this month, high-level representatives from TotalEnergies, Shell and Chevron all confirmed multi-million-dollar investment projects in the pipeline, from driving frontier exploration to delivering gas from mature markets. […]

Global demand for LNG is estimated to rise by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in China and South Asian and South-east Asian countries use more LNG to support their economic growth, according to Shell’s LNG Outlook 2024. Global trade in LNG reached 404 million t in 2023, up from 397 […]

In a January speech, Mele Kyari, head of state-owned Nigerian National Petroleum Corp, said the country would boost crude production to 2.2 million b/d by year-end, rousing its fragile economy. Domestic refineries, shuttered for years, would reopen at 450,000 b/d capacity. Nigeria would finally exploit its considerable gas resources. And the long-awaited Dangote refinery would […]

At the end of each year, I like to look back at the past year and ahead to what the coming 12 months might bring (which I will cover in a separate post tomorrow). In the past, I have focused primarily on the GB market, but over the past year, my work has taken me […]

The global quest by energy stakeholders to  reduce carbon emissions through limitation of finance to most oil and gas projects seems to not having vivid prominence presently in global energy business scene as global oil and gas contracts spike in second quarters of 2023, Global Data reported.  Africa’s vehement and discordant views and escalation of […]

The members of the OPEC+ group saw their collective oil production slump to the lowest level in nearly two years in July after Saudi Arabia began its unilateral output cut of 1 million barrels per day (bpd), the Platts survey by S&P Global Commodity Insights showed on Wednesday. OPEC’s oil production from all 13 members stood at […]