Global Diesel Prices Soften as Inventories Edge Upward Global distillate fuel oil inventories remain much lower than normal for the time of year but there are signs they are no longer falling which has eased some of the upward pressure on prices. Distillates such as diesel, gasoil and heating oil are the primary fuels used…
Exxon Secures Lead in Top US Oilfield with $60 Billion Buy of Shale Rival Pioneer Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production. The deal, valued…
Saudi Aramco in Talks to Buy 10% Stake in Chinese Refiner Yulong Petrochemical Saudi Aramco is in talks to buy a 10% stake in Shandong Yulong Petrochemical Co, it said on Wednesday, a deal that would further boost the state oil giant’s investments in China. Shandon Yulong is building a refinery complex that can process…
Biggest Oil and Gas Sector Deals since Start of the Century U.S. energy major Exxon Mobil said it would acquire Pioneer Natural Resources in a deal valued at $59.5 billion to more than double the company’s presence in the Permian Basin, the largest shale play in the U.S. Once completed, it would be Exxon’s biggest…
Development of energy storage systems through batteries, hydrogen, others ‘ll enhance availability of renewable energy —Air Products MD Rob Richardson Rob Richardson is the Managing Director of Air Products South Africa (Pty) Ltd. He has managed a diverse business portfolio including air separation plant operations, Hydrogen separation systems and Carbon Dioxide production facilities, etc. Richardson…
Oil Tracks Global Equities Higher, IEA Demand Downgrade Weighs Oil prices rose about 1% on Thursday, reversing earlier falls, on expectations that U.S. interest rates had peaked, but a lower demand growth forecast for next year from the International Energy Agency and higher U.S. inventories limited further gains. Brent futures rose $1.01, or 1.20%, to…
Sheffield: Oil Prices Will Spike If Iran Jumps Into Hamas-Israel Conflict Pioneer Natural Resources CEO Scott Sheffield has warned that while oil prices have given up their brief rally following Hamas’ attack on Israel over the weekend, prices could soar significantly if Iran becomes directly involved in the conflict. “If Iran enters the war,…
White House Plans New Sanctions on Russian Oil Exports The Biden administration is set to announce today new sanctions on Russia targeting specifically its oil exports after multiple reports that Russian crude was selling at a significant premium to the G7 price cap of $60. CNN reported that the target of the new set of…
‘Gas has to be the Main Driver of Nigeria Energy Transition’ –Nwokedi Giving his views on energy transition while speaking at a panel session during the 2023 annual strategic international conference of the Association of Energy Correspondents of Nigeria (NAEC) held in Lagos, President of Nigeria Gas Association (NGA), Akachukwu Nwokedi, revealed that many Nigerians…
‘Nigeria Maritime Industry One of the Fastest Growing In Africa’ The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Bashir Jamoh, Monday declared the country’s maritime sector as one of the fastest growing on the African continent. Jamoh, who stated this today during the interactive session by the Senate Committee on…
