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NEWS |
Sinopec commits $470m to 300MW hydrogen electrolyser in China
State-owned oil giant Sinopec has started construction on an electrolyser to produce 20,000 tonnes of green hydrogen per year in China.
NEWS |
Oil prices could hit $125 per barrel next year and up to $150 in 2023, JPMorgan says
Brent, the benchmark for more than half of the world’s crude oil, is likely to "overshoot" $125 a barrel next year and $150 in 2023, in large part because Opec's spare capacity is below market expecta (...)
NEWS |
Signs of a surplus could spook oil markets
Traders will look to reports on storage levels of crude oil to see if supplies are beginning to outstrip demand, analysts said.
NEWS |
OGV Energy's US Energy Review November 2021
Slow increase in US oil and gas production, rising cost inflation pressuring companies, high petrol and energy prices, and the industry calling on the Biden Administration to start supporting American (...)
NEWS |
OGV Energy's Middle East Energy Review November 2021
Continued control of the Middle East-dominated OPEC+ group over global oil markets, the pledge of the world’s largest oil exporter to achieve net-zero emissions by 2060, and the rebranding of Qatar’s (...)
NEWS |
OPEC secretary general expects oversupply in oil market next year
OPEC Secretary-General Mohammad Barkindo said on Tuesday that he expects an oil supply surplus as early as December and the market to remain oversupplied next year, reports Devdiscourse.
NEWS |
OPEC+ members shun Biden’s calls to boost oil output
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices.
NEWS |
Sinopec inks long-term LNG agreement with Venture Global
Venture Global LNG signed a long-term contract with China Petroleum & Chemical Corp. (Sinopec) for the supply of 4 million tonnes/year of liquefied natural gas (LNG) for 20 years from its plant in Pla (...)
NEWS |
OGV Energy's Middle East Energy Reviews October 2021
Over the past month, the leading Middle Eastern oil producers part of OPEC and the wider OPEC+ alliance continued with their policy to ease the collective oil production cuts, the world’s largest oil (...)
NEWS |
Oil surges to $80 a barrel as global energy crunch continues
U.S. crude futures topped $80 a barrel for the first time since November 2014 as a global energy crisis boosts demand at a time when OPEC+ producers are keeping supplies tight.
NEWS |
Saudis cut oil prices after OPEC+ restraint fuels rally
Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases.
NEWS |
Oil Steadies Near 7-Year High
Oil steadied in Asian trading after rallying to the highest level since 2014 following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunc (...)
NEWS |
Key takeaways from OPEC’s 2045 oil outlook
The Organization of Petroleum Exporting Countries rolled out an opus Tuesday: its “World Oil Outlook 2045.”
NEWS |
OGV Energy's US Oil & Gas Review September 2021
Over the past month, the US Administration called on the OPEC+ alliance to ramp up production to ease the upward pressure on petrol prices, while US production rose to its highest level in 15 months.
NEWS |
First Deployment of Well-Safe Guardian
Today Well-Safe Solutions are delighted to announce the award of a substantial scope of work with Repsol Sinopec Resources UK Limited to decommission the well stock at the Buchan and Hannay fields.
NEWS |
OGV Energy's Middle East Energy Review 2021
A dramatic OPEC+ monthly meeting has dominated the energy news flow out of the Middle East over the past weeks, while major oil and gas companies in the region announced production and supply deals an (...)
NEWS |
Brent Oil: Three reasons to see a rise to $80 by end-September – UBS
Brent Crude Oil traded 2.4% lower after OPEC+ ministers agreed over the weekend to lift supply by 400,000 barrels a day each month from August 2021 through April 2022.
NEWS |
ADNOC awards $764 mil drilling contracts to boost capacity to 5 mil b/d by 2030
Abu Dhabi National Oil Co. has awarded drilling-related contracts worth $764 million to help boost its oil production capacity to 5 million b/d by 2030 as OPEC's third-biggest producer forges ahead wi (...)
NEWS |
OGV Energy's Middle East Energy Review July 2021
The monthly meeting of the OPEC+ alliance, OPEC’s optimistic outlook on global oil demand this year, and a flurry of oil and gas contracts feature in this month’s overview of the oil and gas industry (...)
NEWS |
Oil prices could ‘very easily’ top $100 a barrel, says former U.S. energy secretary
Oil prices could “very easily” hit $100 a barrel in the aftermath of the failed OPEC+ talks, former U.S. Energy Secretary Dan Brouillette told CNBC on Tuesday.
NEWS |
Oil on a bullish momentum as OPEC+ policy rift drags on - Rystad Energy comments
Oil prices are rising today as a result of a disagreement between OPEC+ members on how much supply the alliance should bring back to the market from August, which drags on since last week.
NEWS |
Iraq to receive $360 mil World Bank loan to help expand gas flaring reduction from south
Basrah Gas Co. a joint venture between Iraq's state-owned South Gas Co., Shell and Mitsubishi Corp. will receive a $360 million from the World's Bank's private sector financing arm to help OPEC's seco (...)
NEWS |
Oil up, near $70 a barrel as demand outlook improves
Oil prices firmed on Monday, with Brent trading near $70 a barrel on growing optimism that fuel demand will grow in the next quarter, while investors looked ahead to see how producers will respond at (...)
NEWS |
Sinopec to launch first green hydrogen project in 2022
Chinese state-controlled oil giant Sinopec, said it expects to launch its first green hydrogen project, a zero-carbon fuel generated from renewable energy sources, in the Inner Mongolia region in 2022 (...)
NEWS |
Sinopec strikes deal with automaker Great Wall to develop hydrogen energy
Sinopec has signed a cooperation agreement with Baoding Great Wall Holdings Group to develop hydrogen car technology, broadening the Chinese oil and gas giant’s low-carbon portfolio, reported Caixin.
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