SlavkoSereda/iStock via Getty Images Morgan Stanley analysts on Wednesday raised their forecast for global oil demand growth for this year to 1.9 million bbl/day from their previous forecast of 1.4 million bbl/day, citing increasing momentum in oil. China reopening but signaling increased supply from Russia. as a compensating factor. “Mobility indicators for China, such as … Read more
WASHINGTON, Feb 22 (Reuters) – The United States on Wednesday proposed its first sale of rights to develop offshore wind power in the Gulf of Mexico, which will help the Biden administration reach its goal of deploying 30 gigawatts of wind power by the end of the decade. The Department of the Interior published an … Read more
BERLIN, Feb 22 (Reuters) – Germany is unlikely to face gas shortages this winter and should stop converting floating liquefied natural gas (LNG) terminals to fixed terminals, according to a study by the economics institute DIW published by Reuters. Wednesday. In the most likely scenario, Germany will have sufficient stocks of around 87 billion cubic … Read more
Feb 22 (Reuters) – Australian gas producer Santos Ltd. (STO.AX) said on Wednesday its full-year underlying profit more than doubled thanks to an increase in its liquefied natural gas (LNG) portfolio following its merger with Oil Search and a sharp rise in oil and gas prices. Energy companies around the world are seeing their profits … Read more
HAVANA, Cuba, Feb 21 (Reuters) – Cuba suffered its third major power outage in just over a week on Tuesday, leaving much of the central and eastern part of the island without power, energy officials said on state television. Cuba’s midday television news program said that “it is investigating the causes {of the power outage}” … Read more
The average UK household bill will rise to £3,000 per year between April and June under the energy price guarantee scheme © Tolga Akmen/EPA-EFE/Shutterstock Campaigners have called on the UK government to freeze household energy costs beyond the end of March as falling wholesale prices slash the amount of government subsidy needed to keep bills … Read more
The agreement provides for the supply of green ammonia to Rotterdam Dutch minister says Spain and Portugal are needed as hydrogen suppliers Port of Rotterdam plans to produce 4.6 megatons of hydrogen by 2030 MADRID, Feb 20 (Reuters) – Spain’s Cepsa on Monday signed an agreement with three Dutch companies to supply green ammonia to … Read more
LONDON, Feb 17 (Reuters) – Europe is coming to the end of winter with near-record volumes of gas in storage as industrial shutdowns, high prices and a milder-than-usual season. According to Gas Infrastructure Europe (GIE), combined stocks in the European Union and the United Kingdom were equivalent to 731 terawatt hours (TWh) as of February … Read more
SINGAPORE, Feb 17 (Reuters) – China is expected to import a record amount of crude oil in 2023 due to increased demand for fuel as people travel more after the removal of COVID-19 controls and as a result of the start-up of new refineries, analysts said. The prospect of strong demand from the world’s largest … Read more
Feb 17 (Reuters) – Hungarian oil and gas group MOL (MOLB.BU) reported on Friday an increase in full-year EBITDA to $4.7 billion from $3.5 billion in 2021, helped by a significant contribution from upstream and downstream operations. The company exceeded its EBITDA target from $4.1 billion to $4.4 billion. “Strong EBITDA in 2022, even with … Read more