Chandra Asri buys Exxon Singapore's retail fuel stations
Chandra Asri Pacific announced on Friday that it would acquire Exxon Mobil’s retail petrol stations with the Esso brand in Singapore, as the U.S. giant streamlines its downstream operation. In a press release…
EU sanctions against Russia include two Chinese refineries and the trader Chinaoil
The EU has added Chinaoil Hong Kong (a trading arm for PetroChina) and two Chinese refineries with a combined daily capacity of 600,000.00 barrels to its list of sanctions against Russia, according to the EU Official Journal published on Thursday.
Source: Indian refiners are reviewing Russian oil contracts following US sanctions
A source with first-hand knowledge of the situation said that Indian state refiners were reviewing their Russian oil trading documents to make sure no supplies would come directly from Rosneft or Lukoil following the U.S. sanctions against the companies.
Sources say that Western pressure will affect Asian purchases of Russian oil in December.
U.S.-European pressure on Asian buyers could limit India's oil purchases from December. This would lead to cheaper supplies in China. However, Japan is unlikely to stop its Sakhalin LNG shipments at this time, according to trade sources and analysts.
EDP accelerates solar and battery projects in Australia following government awards
The Portuguese utility EDP said that it expects to speed up its solar and storage battery projects in Australia, after receiving government awards for revenue generation over the long term. EDP Renewables Australia…
Sources: BP chartered tanker leaves sanctioned Nayara Energy port without loading oil
According to five sources in the industry and shipping data from LSEG, oil tanker Talara chartered by energy giant BP has left Vadinar, India's newly-sanctioned refiner Nayara Energy, without loading diesel, as planned.
Investors continue to monitor the impact of new sanctions against Russia on oil prices.
The oil price was little changed Monday, as traders assessed the impact of European sanctions on Russian supply. They also worried about tariffs that could weaken fuel demand because Middle East producers were increasing output.
Oil prices fall on the prospect of more OPEC+ supplies, easing Mideast risks
Oil prices dropped on Monday, as a easing of geopolitical risk in the Middle East coupled with the prospect of an OPEC+ production increase in August boosted supply expectations in spite of persistent uncertainty about the outlook for the global demand.
Oil prices fall on the prospect of more OPEC+ supplies, easing Mideast risks
The oil price fell 1% Monday, as the outlook for supply was boosted by a lowering of geopolitical risk in the Middle East. Brent crude futures dropped 66 cents or 0.97% to $67.11 per barrel at 0031 GMT ahead of…
EnQuest CEO: EnQuest will finalise its $84 million Vietnam oilfield purchase soon
Amjad Bseisu, CEO of UK-based EnQuest, said that the company expects to acquire Harbour Energy's Vietnam business within the next two months and will drill new wells in order to increase production. The North…
Energy companies race to Southeast Asia for gas to meet AI power demand
Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition…
Yergin: The next 3-5 days will be critical for the global energy markets if Israel and Iran have a significant development.
The next three to five day developments in the Iran-Israel conflict will be crucial for global energy markets, even though the Gulf oil and gas supply has not been interrupted yet. This was the view of oil historian Daniel Yergin on Wednesday.
Vitol CEO predicts slight decline in US oil production this year due lower prices
He said that the lower oil prices will lead to a slight decrease in U.S. production of oil this year. "We're starting to see an impact on production and investment with slightly lower prices." Russell Hardy, speaking at the Energy Asia Conference…
Shell CEO: Local price index makes LNG Canada attractive
Shell's LNG Canada is attractive to buyers because it uses a Canadian Alberta Energy Company price index, which is lower in comparison with the Henry Hub price for the U.S. The company's CEO said this on Tuesday.
Oil industry gathering in Malaysia is shadowed by conflict in Middle East
Energy executives from around the world gathered on Monday in Malaysia's capital for an industry gathering. They were concerned about the dramatic escalation of the conflict between Israel & Iran which has fueled…
Saudi Aramco CEO: Oil and gas is important during times of conflict
Saudi Aramco's head told a Monday energy conference that oil and gas are important in times of conflict, as we can see right now. Aramco CEO Amin Nasser gave his speech at the Energy Asia Conference held in Kuala Lumpur via video link.
GAIL India sells LNG cargo because early monsoons lead to weak power demand.
GAIL (India) Ltd resold a liquefied gas (LNG) shipment this week, according to three sources in the market on Friday. The state-run company's tanks are full due to the weak demand for power in India. GAIL, India's…
Freepoint Commodities sued by ex-analyst for alleged pressure to facilitate insider trade
Former senior analyst of U.S. trading firm Freepoint Commodities, a former senior analyst has filed a lawsuit against the company. He claims that top executives pressed employees to facilitate insider trades and that they retaliated on employees who objected.
WGC-QatarEnergy CEO: Chemical industry is growing rapidly, says WGC
QatarEnergy, according to its chief executive Saad Al-Kaabi, plans to double its global capacity for plastics and raw materials as the company sees a big growth in chemical industries. He told the World Gas Conference…
Petronas wants Kutai Basin properties as part of the planned Eni tie up
A senior executive at Malaysian state energy firm Petronas said Tuesday that it wants to include oil projects in Indonesia's Kutai Basin as part of its joint venture with Eni. Petronas, the Italian oil giant and…