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By Dorothy Neufeld | Graphics/Design Joyce Ma Key Takeaways Oil, coal, and natural gas were the leading sources of global energy demand in 2024. While coal demand is set to drop the most by 2050, solar and wind demand is forecast to surge. Fossil fuels powered 80% of global energy demand in 2024, with this …
Charted: Global Energy Demand by Fuel Type (2024-2050P) – Visual Capitalist Read More »
China’s foreign ministry on Monday said the United States’ seizure of another country’s ships was a serious violation of international law, after the U.S. intercepted a China-bound oil tanker off the Venezuelan coast. Venezuela has the right to develop relations with other countries, China’s foreign ministry spokesperson Lin Jian said at a daily press briefing, …
China Says US Seizure of Ships ‘Serious Violation’ of International Law Read More »
Australia will make exporters of liquefied natural gas from the country’s east coast keep up to a quarter of their output for domestic use from 2027, under a scheme unveiled on Monday to curb price spikes and help fill a long-forecast supply gap. The centre-left government of Prime Minister Anthony Albanese said it would work …
Australia Forces LNG Exporters to Keep a Minimum Amount for Home Market Read More »
Summary Deal includes $2.7 billion cash, $500 million in shares Deal may boost Harbour’s output to 500 kboepd by decade’s end Harbour expects acquisition to enhance free cash flow from 2027 Dec 22 (Reuters) – Britain’s North Sea-focused Harbour Energy said on Monday it would buy deepwater oil and gas exploration and production company LLOG …
UK’s Harbour Energy enters Gulf of Mexico with $3.2 billion LLOG deal Read More »
By Keira Wright, Ruth Liao, and Stephen Stapczynski Meg O’Neill | Photographer: Nicky Loh/Bloomberg The surprise exit of Woodside Energy Group Ltd. Chief Executive Officer Meg O’Neill leaves her successor with a dilemma: should the Australian company continue down the path she set of promoting massive liquefied natural gas projects when forecasts point to a …
Shock Departure Leaves Woodside Without Its Key Gas Champion Read More »
By Ron Bousso LONDON, Dec 19 (Reuters) – Oil prices slumped below $60 a barrel this week as investors try to make sense of U.S. President Donald Trump’s push to end the war in Ukraine and force out Venezuelan President Nicolas Maduro. Yet the real driver of prices in the months ahead is likely to …
COMMENTARY: Surging Barrels at Sea Spook Oil Markets More Than Russia or Venezuela Read More »
By Yousef Saba Lukoil exits Ghasha project, hands ADNOC 10% stake Heavy demand from Asian lenders, including Chinese banks First gas production expected before decade’s end DUBAI, Dec 18 – Abu Dhabi National Oil Company has secured $11 billion in structured financing to monetise future gas production from its Hail and Ghasha development, the state …
ADNOC Lands $11 Billion Financing for Future Gas Output Read More »
(Reuters) – Saudi Arabia’s crude oil exports hit their highest level in two and a half years in October, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Crude exports from the world’s largest oil exporter increased to 7.100 million barrels per day (bpd), higher than September’s 6.460 million bpd, and their highest …
Saudi Arabia Crude Exports Rise to Two-and-a-Half Year High in October Read More »
The surprise appointment of Meg O’Neill as BP’s first outsider CEO offers the bruised $90 billion British oil company three clear strategic choices for moving forward: build, buy or be bought. BP announced on Wednesday that CEO Murray Auchincloss would step down the following day and that O’Neill, current CEO of Australian-listed Woodside Energy, would …
BP’s CEO Shake-up Could Pave Way to Mega Merger: Bousso Read More »
Oil and gas major BP has appointed Meg O’Neill, the head of Australia’s Woodside Energy, as its next CEO to lead its effort to boost profits and refocus on oil and gas after a detour into renewables. O’Neill, who will take over in April following the abrupt departure of Murray Auchincloss, will become BP’s first …
BP Appoints Woodside’s Meg O’Neill as CEO After Auchincloss’ Abrupt Exit Read More »
