Europe will find it “Very Difficult” to fill Storage for Next Winter – Gazprom Europe will find it very difficult to refill its natural gas stockpiles ahead of next winter, Russian gas giant Gazprom says. Filling the European gas storage to the levels from before the 2022/2023 winter could become “a non-trivial task” for European…
Chevron Expands Footprint in Eastern Mediterranean Natural Gas Basin U.S. oil and gas giant, Chevron, is looking to explore natural gas off the coasts of Cyprus, Egypt, and Israel as the region’s energy demands grow. In a lease tender issued recently, the company is seeking a drilling vessel for 2024 with an option to extend…
China and India Buy Russian Crude above the Price Cap China and India, the main customers of Russia’s crude oil in recent months, have snapped up in April Russian cargoes at prices above the $60 per barrel price cap set by the G7, Reuters reports, citing traders and its own calculations. Russia’s flagship crude grade…
President Buhari Calls for Support for Incoming Administration President Muhammadu Buhari has called on stakeholders to give the incoming administration all the needed support towards the growth and development of Nigeria’s energy sector. The president made the call recently in his speech to participants at the ongoing Nigeria International Energy Summit, (N.I.E.S), at the State…
450,000 bpd of Iraq’s Oil Exports still Offline Turkey is yet to resume importation of crude oil from Iraq, with 450,000 bpd in Iraqi oil exports still offline, anonymous sources told Reuters on Friday. The International Chamber of Commerce (ICC) ruled three weeks ago that Turkey must pay Iraq $1.5 billion in damages for receiving…
U.S. Gasoline Awaits Next Price Hike Catalyst The average price for a gallon of retail gasoline in the United States has risen roughly $0.20 per gallon over the last 30 days, data from tech company GasBuddy indicates. According to American Automobile Association (AAA) spokesperson Andrew Gross, oil market disruptors are “always lurking” and the price…
U.S. Delegation to Saudi Arabia to Discuss Energy and Security White House Coordinator for the Middle East and North Africa and the U.S. Special Presidential Coordinator for Global Infrastructure and Energy Security, on Friday visited Saudi Arabia officials to discuss regional security and energy matters. It is the senior-most U.S. delegation to visit Saudi Arabia…
Diri Flays NDDC over Absence of Big-Ticket Projects in Niger Delta Bayelsa State Governor, Douye Diri, has flayed the Niger Delta Development Commission, over absence of people oriented big ticket projects initiated and completed by the agency in the region, despite the huge funds sunk into the Commission. He urged the Commission to collaborate with…
Russian Oil Inches Closer to G7 Price Cap The price of Urals, Russia’s flagship export grade, has moved higher since the OPEC+ announcement, threatening the price cap agreed by the G7 and the European Union to impose on Moscow last year in a bid to hurt its oil revenues. Urals is currently trading at nearly…
OPEC Raises Forecast for China’s Oil Demand Growth Again Chinese oil demand is set to grow by 760,000 barrels per day (bpd) this year, OPEC stated recently, raising slightly its demand growth outlook for China while leaving global oil demand projections unchanged from last month. China’s oil demand is now expected to average 15.61 million…
