OPEC and its oil-producing allies agreed to hike output in July and August by a larger-than-expected amount as Russia’s invasion of Ukraine wreaks havoc on global energy markets. OPEC+ will increase production by 648,000 barrels […]
Korea Shipbuilding & Offshore Engineering (KSOE) has mostly filled its order book for the next 2-1/2 years as the pandemic drove demand for container ships, leaving little room to meet the needs of the liquefied […]
Marketed natural gas production from the Permian Basin in western Texas and eastern New Mexico reached a new annual high of 16.7 billion cubic feet per day (Bcf/d) in 2021. Annual marketed natural gas production […]
(Bloomberg) — OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including […]
Russia’s invasion of Ukraine has altered the global oil trade. EU leaders agreed to ban the majority of Russian crude imports, but even prior to the official action imports to Northwest Europe were down. More […]
Norwegian oil giant Equinor has said the Hammerfest LNG is back in production after the fire in September 2020. On 2 June 2022, Equinor informed that, after extensive repairs and improvement work, Hammerfest LNG is […]
Shell Retail and Convenience Operations, a wholly owned subsidiary of oil supermajor Shell, has completed the acquisition of certain company-owned fuel and convenience retail sites from Landmark Industries. Shell said that the acquisition also included […]
Biden administration officials are divided over how much further the US can push sanctions against Russia without sparking global economic instability and fracturing transatlantic unity. While President Joe Biden’s team rallied behind a sanctions plan […]
China’s independent refiners may aim to keep potential risk at bay and refrain from taking Iranian barrels in the near term following a new set of sanctions imposed by US authorities, as plentiful availability of […]
Phillips 66 signed a letter of intent with FreeWire Technologies to expand its electric fuel charging capabilities, using its existing US retail network sites to meet growing demand for electric vehicles, the company said June […]
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