News

(Reuters) - Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due...

By Miaoru Huang - Research Director, APAC Gas & LNG at Wood Mackenzie After a pandemic slowdown last year, China’s demand for gas appears to have returned stronger than before. In H1 2021, China’s gas demand saw a 16% year-on-year...

(Natural Gas Intelligence) Higher natural gas prices are predicted to boost ExxonMobil’s third quarter upstream profits by around $700 million, more than forecast for oil, the energy major said. In its 3Q2021 earnings guidance, detailed in a Securities and Exchange...

Saipem has been awarded new onshore drilling contracts in the Middle East and in South America. In particular, a contract has been awarded in the United Arab Emirates with a duration of approximately 15 months. In South America, Saipem has...

(IHS Markit) Latin American countries are gradually beginning to reopen after 18 months of coronavirus disease 2019 (COVID-19)-virus-related restrictions. Although the region is set to grow in 2021, long-run political and economic-related grievances have been exacerbated by the pandemic....

(S&P Global) Global oil demand is "very healthy" and will reach close to 99 million b/d by the end of this year from 97 million b/d in Q3, with some natural gas customers switching to liquids, Saudi Aramco CEO...

(NBC) A 13-square-mile oil spill off the coast of Southern California forced officials to close beaches and warn of an ecological disaster Sunday as a previous plan produced by the operator of an offshore oil pipeline described such a...

Oil remained steady on Monday ahead of an OPEC+ meeting, with Brent hovering around $79.22 per barrel. A Norway-based energy research and business intelligence company had estimated just last year that Guyana would rake in over $300 billion in...

A key player in Guyana’s business community is sounding a dire warning that if swift action is not taken to implement local content legislation, Guyanese will continue to lose out on major procurement opportunities for the offshore oil developments. “I’ve...

(S&P Global Platts) The plan by OPEC+ to boost crude oil production by 400,000 b/d each month until December won't be enough to cater to rising global oil demand and help build inventories, particularly in Asia, where more supply...