The relatively young industry of projects using floating storage and regasification units (FSRU) has enjoyed boom years since 2015 as many new importers of liquefied natural gas (LNG) used these floating types of carriers that are cheaper than having to build an entire onshore LNG import terminal.
The rise in oil prices has resulted in relentless drilling and booming production in the U.S. shale plays, and the Permian in West Texas is attracting the most drillers, analysts, and media attention.
The oil ministry of India is in favor of the country placing a ban on imports of petroleum coke, the government’s lawyer told the Supreme Court on Monday, as India aims to curb imports of the polluting oil refinery by-product in a bid to fight severe air pollution.
Ten years ago this week—July 11, 2008 to be exact—the price of a barrel of oil on the New York Mercantile Exchange hit an intraday high of $147.27, its highest price ever.
Asian oil customers are looking to secure more oil supplies from Saudi Arabia, Kuwait, and Iraq, to replace oil from Iran after the U.S. announced the new sanctions on Tehran, Nizar al-Adsani, CEO at Kuwait Petroleum Corporation (KPC), told Reuters on Monday.
In line with its agreement with OPEC to reverse part of the cuts, Russia is boosting its crude oil production, pumping as much as 11.193 million bpd in the first four days of July, up from 11.06 million bpd in June, Reuters reported on Thursday, quoting a source familiar with the data.
Benchmark seaborne thermal coal prices jumped to $120.10 per tonne on Thursday, its highest level since November 2012, thanks to tight supply in key Asian export regions.
The International Energy Agency (IEA) is ready to act if “necessary to ensure that markets remain well supplied,” the IEA’s Director for Energy Markets and Security, Keisuke Sadamori, told S&P Global Platts on Friday.
Saudi Arabia is ready to increase its oil production in response to the expected decline in Iranian crude oil for international markets following President Trump’s withdrawal from the Iran nuclear deal.
The age of the electric vehicle (EV) will be here sooner than you think.