Fast emerging globally as a means to help the world decarbonise, green hydrogen is a market where GCC countries have an advantage, thanks to the region’s abundance of inexpensive solar energy.   Powered by renewable sources, green hydrogen can fuel a range of applications, from industrial processes to passenger cars. But low production costs Read more

  Singapore/London: Ship owners facing looming deadlines to use less-polluting fuels have slashed the number of new vessels on order because they don’t know which alternative technology to switch to.   Ammonia, hydrogen, biofuels and electrification are some of the many contenders to power the world’s future merchant fleet, but most are only in the Read more

  Five years ago on New Year’s Eve, the Theo T left the Texas Gulf Coast with the first US shale crude shipment overseas. The oil, gathered from nearby ConocoPhillips wells and sold to trading giant Vitol Group, set sail for Italy just two weeks after lawmakers lifted a long-standing ban on exports.   It Read more

  The Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf, is rarely far from the center of global tensions. A major shipping route that handles around one-third of the world’s waterborne oil, it’s closely watched for signs of disruption. Iranian forces have targeted merchant ships traversing the chokepoint several times Read more

  LONDON: Severe coronavirus restrictions around the world to contain surging infection rates weighed on fuel sales, weakening the prospect of energy demand recovery in the first half of 2021.   Most of Europe is now under the strictest restrictions, according to the Oxford stringency index, which assesses indicators such as travel bans and the Read more

  As the power transition in the US administration could alleviate restrictions on Iran’s oil sanctions, experts predict that the country will prepare for reentry to the global oil market with the intention of recapturing its lost market share.   Global oil markets have been gridlocked since March 2020 with the lowest oil demand since Read more

  Five years ago on New Year’s Eve, the Theo T left the Texas Gulf Coast with the first U.S. shale crude shipment overseas. The oil, gathered from nearby ConocoPhillips wells and sold to trading giant Vitol Group, set sail for Italy just two weeks after lawmakers lifted a long-standing ban on exports.   It Read more

  The current price of $50/bbl will prove indefensible if U.S. shale oil production resumes soaring and the world economy remains sluggish for any length of time.The announcement by Saudi Minister Salman that his country would make a voluntary production cut of 1 mb/d has some people speculating (or joking) that Saudi Arabia will take Read more

  Abu Dhabi – the oil powerhouse at the centre of the U.S.’s pushback against increasing Chinese influence across the Middle East – last week further cemented this alliance with a dramatic re-organisation of its government to further empower its oil sector, and the awarding of further oil concessions to U.S.-friendly firms. Both of these Read more

  US base oil prices are set to hold firm at least during the first few months of 2021 in response to strong supply-demand fundamentals.The continuing price strength follows a year when US base oil prices were mixed. Prices firmed in the first quarter of the year. Supplies remained limited because of a heavy round Read more

  The OPEC+ talks stalled on Monday after the group failed to reach a consensus on the best path forward for oil production, the body reported on Monday afternoon.   OPEC and non-OPEC’s Ministerial Meeting held on Monday will now resume on Tuesday, January 5, giving the group more time to discuss amongst themselves and Read more

  The South Korean government on Tuesday called for the early release of an oil tanker which was seized by Iran’s Islamic Revolution Guards Corps (IRGC) in the Gulf over what Tehran claimed to be “repeated violations” of environmental protocols.   Following the seizure on Monday, the IRGC said: “The tanker (Hankuk Chemi), departing from Read more

  MOSCOW/LONDON: OPEC+ resumes debate on Tuesday after talks stumbled over February policy, as Russia led calls for higher output while others suggested holding or even cutting production due to new lockdowns.   Debate resumes at 1430 GMT after the group, which combines OPEC and other producers including Russia, failed to find a compromise on Read more

  SINGAPORE: Russian natural gas transported to China via the Power of Siberia pipeline touched 28.8 million cubic meters per day, as of Jan. 3, in order to feed homes and factories as northern China faces frigid weather conditions, national oil and gas pipeline giant PipeChina said.   This will put on track an annual Read more

  Along with its biggest anchor, oil and gas, the city is also home to a deep bench of aerospace, health care and Fortune 500 companies. While 2020 wasn’t exactly what anyone expected, Houston’s emergent technology companies are primed to deliver solutions to advance imminent digital transformation in the $3.3 trillion global energy industry as Read more