12 July 2024
July 2024
The July issue of Petroleum Economist is out now!
12 July 2024
China’s NOCs plan renewed African growth
The current wave of investment comes after Africa’s importance as an energy supplier to China has declined in recent years
11 July 2024
Gulf Energy Information appoints Catherine Watkins as CCO to drive market expansion
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence
11 July 2024
Nigeria’s gas ambitions gain ground
But regulatory and feedstock issues continue to hinder the pace of progress
10 July 2024
Africa can be long-term focal point for oil industry
Once energy security is achieved, Africa can play a greater global role as it builds out its downstream, Anibor Kragha, chief executive of the African Refiners and Distributors Association, tells Petroleum Economist
9 July 2024
China’s LNG fleet growth to change the global market
Chinese firms may be poised to move into trading, amid a burgeoning glut of supply and capacity
8 July 2024
Dangote poised to fulfil gasoline goals
But the commissioning process is ongoing and initial gasoline output may be limited
5 July 2024
Letter from Spain: Hydrocarbons are the present and future of tank storage
Scepticism towards the energy transition reigns in the tank storage industry
4 July 2024
ConocoPhillips looks beyond the Permian
Marathon deal indicative of a maturing shale industry amid greater consolidation and fewer acquisition targets
3 July 2024
Looming elections push Mozambique LNG startups towards 2030
Two big onshore developments face further delay as lenders wait on poll results within the country and in the US
2 July 2024
Eni sees gas as long-term energy solution
The Italian IOC sharpens focus on gas but sees ‘no one solution’ to the energy transition
1 July 2024
New opportunities for exploration and exploitation in Peru
Blocks I, VI and Z-69 represent an excellent investment opportunity in the energy sector, producing fields, accessibility, infrastructure, guaranteed market and proximity to the modern Talara refinery
1 July 2024
Brazil awaits contentious Equatorial Margin call
Political rancour is rising as politicians appeal for environmental licence to explore the mouth of the Amazon
28 June 2024
Indian refiners’ love of Middle East crude should not be forgotten
Russian oil may be top of India’s menu, but its appetite for Middle East grades will always be a crucial part of the diet
27 June 2024
Expanded Afentra eyes fresh growth
The independent is keen to supply feedgas for Angola LNG and is assessing opportunities both in and beyond the southern African nation
26 June 2024
Namibia’s success boosts other frontiers
Exploration efforts are increasingly spreading into South African and even South American waters
25 June 2024
Letter from Africa: Region poised for a gas revolution
This time feels different for Africa as it looks to deliver on its gas promise and potential
24 June 2024
Global oil benchmark resolves its existential crisis
The addition of US crude to the world’s top oil benchmark has finally solved its North Sea conundrum and laid down a marker for the future
21 June 2024
‘Monsieur Afrique’ says gas is the big frontier exploration
Panoro Energy’s senior advisor, Tim O’Hanlon, is upbeat on Gulf of Guinea upstream opportunities but highlights gas and LNG as next big growth story
20 June 2024
Kuwait looks to capitalise on emir’s bold move
Emir Sheikh Mishal al-Ahmad al-Sabah’s dissolution of parliament gives him more power to shape decisions on the country’s oil and gas future
19 June 2024
Oil outlooks enter the twilight zone
The feud between the IEA and OPEC highlights how the lines between reality and fantasy over oil demand have become blurred, with huge ramifications for investment
18 June 2024
Senegal starts crude production
This will be a transformative year for the West African nation, as first LNG is also expected before the end of 2024
17 June 2024
Canada’s Valeura eyes fresh deals after Thai expansion
The company is also working to sustain output from its Thai-focused portfolio into the 2030s
15 June 2024
Welcome to the two-tier deepwater rig market
Noble deal to acquire Diamond Offshore changes an industry ripe for consolidation
14 June 2024
Moving Russian LNG into the shadows
Russia may be looking to create a dark fleet of LNG carriers to get around sanctions on Arctic LNG 2, but it will be hard to replicate its success with shadow oil tankers
13 June 2024
Eni’s nimble energy strategy evolves
Italian firm sharpens gas focus and ramps up E&P while pursuing satellite strategy
12 June 2024
Letter from the US: Refiners are no longer mere price takers
OPEC watchers should not undervalue the buying power of refiners in the changing oil market equation
11 June 2024
Niger dispatches its first seaborne crude cargo
Meleck crude is a low-sulphur grade 
10 June 2024
Security trumps all in Japan’s LNG strategy
Tokyo and Japan’s utilities continue to back LNG projects, even as the country’s demand declines
8 June 2024
Letter from London: OPEC+ well set for Sisyphean task
The impressive agreement struck between OPEC and its allies highlights the powers and limits of the group
7 June 2024
Low prices spur rising Chinese gas demand
Q2 demand growth is looking robust after a strong Q1
6 June 2024
US shale needs to find new efficiencies
Output looks to a growth model based around doing more with less given green policy pressure, with tech advancements, equipment upgrades and fiscal tools key
6 June 2024
June 2024
The June issue of Petroleum Economist is out now!
5 June 2024
Alberta’s petrochemicals advantage
Canada’s oil hub looks to the future amid a supportive geological and investment environment
4 June 2024
Beijing remains uncommitted on Power of Siberia 2 plans
Russia’s pivot to the east is encountering barriers among the Central Asian republics and due to China’s reluctance to become too dependent on Russian gas
3 June 2024
Biden clamps down on Alaskan oil and gas
Federal government restricts activity in Alaskan petroleum reserve but leaves current arrangements like Willow alone
2 June 2024
Political bargains hamstring Australia's Future Gas Strategy
Backroom political deal-making has undermined the government’s long-term vision for the domestic gas sector
31 May 2024
Letter from South America: Sanction threat fails to curb Caracas
Washington has put oil and gas sanctions back in place while Venezuela prepares for elections. But exemptions remain as the Biden administration looks to domestic gasoline prices ahead of the US’ own elections later this year
30 May 2024
Trinidad and Tobago pushes for revival in upstream fortunes
Woodside, BP and Shell are among the companies actively pursuing gas developments in the country’s waters
29 May 2024
Angola project thwarts upstream decline
Kaminho deepwater FID raises hopes of reigniting much-needed further investment in ailing sector
28 May 2024
Gazprom: from boom to bust
Lacking either the ability to generate cash for the Kremlin or serve as its geopolitical tool, Gazprom has lost its purpose
27 May 2024
Indian demand resistant to triple-digit oil
World’s third-largest consumer should see sturdy growth in oil consumption during 2024 even if prices rise
24 May 2024
Washington belatedly targets Iran’s crude oil supply networks
Tehran is in a renewed political crisis, but its ability to find buyers for its crude exports hands it a lifeline
24 May 2024
Angola high oil potential blocks for award
Eight blocks in the Lower Congo and Kwanza onshore basins available for award
23 May 2024
Letter from Paris: Do not underestimate ‘Afripec’
Make no mistake, Africa has a crucial and increasingly important role within OPEC, even given its relatively small production volumes and the departure of Angola
22 May 2024
Rising political interventions in oil and gas markets
From deglobalisation to potential shortages, policymakers must be mindful of the law of unintended consequences
21 May 2024
Letter from Rotterdam: Oil and gas go AWOL
With just a small presence from the oil and gas industry, the World Energy Council’s biennial congress gave a stark reminder of Europe’s energy priorities
20 May 2024
Drones and deadlock stymie Iraqi Kurdish oil and gas ambitions
Not for the first time, a foreign oil company-led project in Iraq’s Kurdistan region is dealing with the aftermath of a deadly drone attack
17 May 2024
Panama Canal plans to boost transit capacity
The latest drought crisis is passing, but longer-term solutions are in motion, explains Panama Canal Authority Administrator Ricaurte Vasquez Morales
16 May 2024
Kazakhstan’s upstream feels the strain
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Uzbekistan’s privatisation push bears fruit
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
14 May 2024
Rising costs delay Papua LNG FID
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
14 May 2024
Letter from the US: OPEC+ and the trillion-dollar mistake?
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy
13 May 2024
No foregone conclusions for OPEC+
OPEC+ has huge amounts of spare capacity amid a tightening market, but nothing can be taken for granted given unclear economic trajectories and geopolitical unrest
13 May 2024
Sao Tome and Principe may be poised for exploration revival
But optimism about island nation checked by competition around African upstream investment and history of false dawns
10 May 2024
Letter from Houston: Pragmatism versus rhetoric
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
A positive ending to the Trans Mountain saga
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix
8 May 2024
May 2024
The May issue of Petroleum Economist is out now!
8 May 2024
Australia's LNG import projects encounter buyer apathy
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain
7 May 2024
Europe’s appetite for LNG to ease
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Mexico’s election could evolve oil nationalism
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
China’s diesel demand woes
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Gas discovery could transform Morocco
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
Letter from Iraq: Oil sector needs drastic reform
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Emerging markets to bolster Asian LNG demand
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
Letter from London: The unbearable lightness of being US shale
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Competition heating up for Chinese refiners
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
East Med gas producers show caution and commitment
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
Indies look to Equatorial Guinea as ExxonMobil pulls out
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
India’s high sensitivity to oil prices
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Letter from Europe: The trouble with the trilemma
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
China’s corruption purge targets the energy sector
Beijing’s renewed targeting of NOC management could threaten investment
19 April 2024
UK-listed Pharos to ramp up Egyptian activities
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
Equinor hones its ‘high-grade’ global portfolio
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Russia makes gas inroads in Central Asia
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Higher oil prices will not trouble Fed
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
LNG needs post-election rethink
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive
12 April 2024
Tehran goes it alone
Iran has announced multibillion dollar spending programmes aimed at domestic companies, inspired by recent export success
12 April 2024
Woodside sees renewed confidence in Australia’s upstream
CEO Meg O’Neill believes operating environment in Australia has stabilised and sees a bullish outlook for LNG demand
11 April 2024
Gas faces uphill battle in China and India
The renewables revolution is not producing a gas boom in Asia’s largest countries, as incumbent energy sources coal and hydro retain an advantage
10 April 2024
Indie Arrow targets rapid production growth
Fears that left-leaning President Petro’s government would signal the end for Colombia’s oil industry appear unfounded
9 April 2024
Oil’s long, slow decline?
Lower costs and lasting government mandates key to transitioning away from fossil fuels, but oil will not be going anywhere fast if history and current policy is a guide
8 April 2024
Fresh capacity to shift global refining in 2024
Even diesel cracks may be poised to narrow, although other factors—such as attacks on shipping in the Red Sea—could buck the structural trends
5 April 2024
Nigeria must navigate gas pipeline project risk
Changing demand patterns, rising global LNG supplies, funding issues and regional insecurity threaten gas infrastructure buildout, but experts plot way ahead
4 April 2024
The Fed sends flowers to OPEC
OPEC+ continues to keep oil prices within a 'goldilocks' price range and provide stability in turbulent geopolitical times
3 April 2024
April 2024
The April issue of Petroleum Economist is out now!
3 April 2024
Equinor streamlines its offshore strategy
Exploration is providing mixed fortunes for IOCs amid higher costs, prompting firms to look towards M&A and safer plays
2 April 2024
Future of Canadian tight oil hangs on net-zero progress
Report by Canada Energy Regulator outlines three different scenarios, with the global push for decarbonisation the key to future production levels
28 March 2024
Denmark to become net gas exporter after Tyra restart
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
OPEC+ must wait on contested demand outlook
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
WA’s domestic gas policy dilemma
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
NOCs must straddle two worlds
Oil producers have to untangle the increasingly complicated relationship with their natural resources
26 March 2024
US SPR takes on new role
Strategic stocks have become as much a market management tool as a security of supply buffer, and this new tactic is likely to continue beyond the next election
25 March 2024
Norwegian North Sea proving resilient
Low carbon intensity and sizeable projects such as Johan Castberg coming onstream in late 2024 suggest a robust outlook at least until 2030
22 March 2024
Australia’s Carnarvon eyes NWS resources
And the outlook for the country’s upstream appears to have improved following legal setbacks in 2023
21 March 2024
Letter from Saudi Arabia: Don’t mistake Saudi energy policy
The country is not betting against long-term oil demand growth, it is planning for a hydrocarbons-led energy demand boom
20 March 2024
Argentinian tax row casts shadow over upstream
Clash between federal and regional governments escalates as Chubut calls for supply disruption unless demands are met
20 March 2024
North Sea production to see minor boost
Taxation strategies in UK and Norway to continue to play important role for a region in which significant volumes of medium sour have offset the loss of similar quality Russian barrels and balanced the influx of US light sweet grades
19 March 2024
Letter from India: Oil’s new nerve centre
The IEA estimates India will be the largest driver of global oil demand growth by 2030, but it may have still undersold the story
18 March 2024
Japan’s appetite for LNG is poised to shrink in 2024
Planned reactor restarts and expiring supply contracts mean changes ahead for Japan’s well-established LNG sector
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