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Nigeria's Dangote Refinery Branches Out Into Brazilian Crude

Nigeria's Dangote Refinery Branches Out Into Brazilian Crude

Jul 12, 2024 at 13:44 | Julianne Geiger

Nigeria's Dangote refinery is set to receive its first shipment of Brazilian crude oil as it continues towards full operational capacity. The purchase of Brazilian crude is a first for…

OPEC+ Cuts and Demand Woes Keep Oil Prices in Narrow Trading Range

OPEC+ Cuts and Demand Woes Keep Oil Prices in Narrow Trading Range

Jul 12, 2024 at 10:09 | Tom Kool

Oil prices have remained in a narrow $75 to $90 a barrel trading range since the end of 2022, as the OPEC+ group continues to keep supply off the market…

Norway’s Oil Producer Aker BP Beats Q2 Profit Estimate

Norway’s Oil Producer Aker BP Beats Q2 Profit Estimate

Jul 12, 2024 at 08:42 | Tsvetana Paraskova

Norwegian oil and gas producer Aker BP reported on Friday a net profit of $561 million for the second quarter, slightly beating a company-provided analyst consensus estimate.   Aker BP,…

China's Natural Gas Imports Rose by 14% in First Half of 2024

China's Natural Gas Imports Rose by 14% in First Half of 2024

Jul 12, 2024 at 05:29 | Tsvetana Paraskova

China’s imports of natural gas, including via pipeline and LNG cargoes, increased by 14.3% in the first half of 2024 compared to the same period of last year.  China imported…

UK Government Denies Claims Ed Miliband Has Banned New North Sea Oil Licences

UK Government Denies Claims Ed Miliband Has Banned New North Sea Oil Licences

Jul 11, 2024 at 14:45 | City A.M

The Department for Energy Security and Net Zero has denied reports that Ed Miliband has banned the North Sea oil regulator from issuing any outstanding drilling and exploration licences, calling…

UK Bans New Drilling in North Sea

UK Bans New Drilling in North Sea

Jul 11, 2024 at 14:02 | Julianne Geiger

Editor's note: Shortly after we published this article, the Department for Energy Security and Net Zero denied reports that Ed Miliband has banned the North Sea…

Nigeria Cuts Deal with Producers to Supply Oil to Refiners at Market Price

Nigeria Cuts Deal with Producers to Supply Oil to Refiners at Market Price

Jul 11, 2024 at 13:00 | Alex Kimani

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reached an agreement with oil producers to supply crude oil to domestic refineries at market prices on Wednesday, ending a supply dispute…

U.S. Solar and Wind Power Generation Tops Nuclear for First Time

U.S. Solar and Wind Power Generation Tops Nuclear for First Time

Jul 11, 2024 at 10:59 | Charles Kennedy

For the first time ever, U.S. electricity generation from utility-scale solar and wind exceeded nuclear power plants’ power output in the first half of 2024, according to data from energy…

Canada Growth Fund Invests in Strathcona's Oil Sands Carbon Capture Initiatives

Canada Growth Fund Invests in Strathcona's Oil Sands Carbon Capture Initiatives

Jul 11, 2024 at 09:11 | Michael Kern

Strathcona Resources Ltd plans to develop up to US$1.5 billion (C$2 billion) carbon capture projects at its oil sands assets with the public investment vehicle Canada Growth Fund (CGF), the…

India's State Refiners Eye Long-Term Russian Oil Deal to Secure Stable Supplies

India's State Refiners Eye Long-Term Russian Oil Deal to Secure Stable Supplies

Jul 11, 2024 at 07:27 | Tsvetana Paraskova

Indian state-held refiners have started jointly to discuss terms of a potential deal with Russia for long-term supply of Russian oil, a government source with knowledge of the matter told 

Azerbaijan Boosts Natural Gas Exports to Europe

Azerbaijan Boosts Natural Gas Exports to Europe

Jul 11, 2024 at 06:33 | Tsvetana Paraskova

Azerbaijan raised its natural gas exports to Europe by 12% year-over-year in the first half of 2024, sending 6.4 billion cubic meters (bcm) of its gas to European customers, Azerbaijan’s…

China Leads the Way in Wind and Solar Capacity Expansion

China Leads the Way in Wind and Solar Capacity Expansion

Jul 11, 2024 at 04:51 | Tsvetana Paraskova

China continues to be the undisputed global leader in solar and wind capacity installations as it is currently constructing twice as much renewables power capacity as the rest of the…

BP Predicts Global Oil Demand Will Peak In 2025

BP Predicts Global Oil Demand Will Peak In 2025

Jul 10, 2024 at 12:14 | Alex Kimani

British Oil & Gas giant BP Plc (NYSE:BP) has predicted that global oil demand will peak next year while wind and solar capacity will continue to grow rapidly. In its latest…

Kpler Data: Saudi Arabia's Oil Exports Fall to Lowest In Decade

Kpler Data: Saudi Arabia's Oil Exports Fall to Lowest In Decade

Jul 10, 2024 at 11:23 | Julianne Geiger

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…

OPEC Sticks To Strong Oil Demand Growth Forecasts

OPEC Sticks To Strong Oil Demand Growth Forecasts

Jul 10, 2024 at 10:47 | Alex Kimani

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…

Honeywell to Buy Air Products’ LNG Technology for $1.8 Billion

Honeywell to Buy Air Products’ LNG Technology for $1.8 Billion

Jul 10, 2024 at 09:12 | Charles Kennedy

Honeywell has agreed to buy the LNG process technology and equipment business of Air Products in a $1.81 billion all-cash deal, as it looks to expand its energy transition capabilities,…

Russia’s Novatek Looks to Market LNG in China

Russia’s Novatek Looks to Market LNG in China

Jul 10, 2024 at 08:43 | Charles Kennedy

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…

The Value of Norway’s Oil Fund Soars to New High of $1.7 Trillion

The Value of Norway’s Oil Fund Soars to New High of $1.7 Trillion

Jul 10, 2024 at 07:42 | Charles Kennedy

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,…

EU Clears Trafigura’s Acquisition of Biofuels Giant Greenergy

EU Clears Trafigura’s Acquisition of Biofuels Giant Greenergy

Jul 10, 2024 at 07:39 | Tsvetana Paraskova

The European Commission has approved the proposed acquisition of the European business of UK-based biofuels producer Greenergy by commodities trading giant Trafigura. Following a review of the proposed transaction…

Saudi Arabia Nets $12.35 Billion From Aramco Share Offering

Saudi Arabia Nets $12.35 Billion From Aramco Share Offering

Jul 10, 2024 at 05:48 | Tsvetana Paraskova

The final proceeds for Saudi Arabia from the secondary sale of shares in its oil giant Aramco came in at $12.35 billion after the exercising of an over-allotment option,…

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