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State-run Indian refiner Bharat Petroleum Corp is buying Middle Eastern crude to make up for less supply of cheaper Russian oil, its head of finance Vetsa Ramakrishna Gupta said in a recent interview. Indian state refiners, which typically buy Russian oil in the spot market rather than under long-term contract, are unable to procure about …
India’s BPCL Buys Middle East Grades to Replace Russian Shortfall Read More »
Russia pumped gas on Monday to European customers via Ukraine for one of the last days before a key transit deal expires at the end of the year, marking the almost complete loss of Russia’s once mighty hold over the European gas market. Supplies of Russian gas via Ukraine are due to stop from the …
Russian Gas Flows Via Ukraine for Last Days as Transit Deal Crumbles Read More »
Russia-Ukraine gas transit deal expires at end of year Ukraine has refused to extend the agreement Russia willing to continue delivering gas via Ukraine Slovakia says loss of supplies from east would drive up prices MOSCOW, Dec 23 (Reuters) – Russia said on Monday the situation with European countries that buy its gas through a …
Russia Calls Gas Sales to Europe ‘Complicated’ as Deal With Ukraine Nears End Read More »
(Reuters) – A plan discussed by wealthy nations to throttle tens of billions of dollars in public support for oil and gas projects has broken down without agreement, Bloomberg News reported on Monday. The European Union, UK, the United States and other countries had sought the deal to limit export-credit agency finance for global fossil-fuel …
Plan to Throttle Foreign Fossil Fuel Finance Collapses at OECD, Bloomberg Reports Read More »
JP Morgan on Thursday forecast Brent oil prices to decline to $73 per barrel in 2025, as it sees a shift in the global oil market from a balance in 2024 to a large 1.2 million barrels per day (bpd) surplus in the coming year. “Assuming that OPEC alliance stays put at current production levels …
JP Morgan Forecasts Brent Declining to $73/bbl in 2025 on Excess Supply Read More »
(Reuters) – Australia’s Woodside Energy said on Thursday it had entered into a deal with Chevron to exchange stakes in a number of energy projects, with the U.S. oil and gas giant making a cash payment of up to $400 million to Woodside. Under the terms of the deal, Woodside will acquire Chevron’s stake in …
Woodside Energy Partners with Chevron to Swap Stakes in Various Energy Projects Read More »
Summary Guards get around half of Iran’s oil export revenue, sources say China remains top buyer of Iranian oil, including from IRGC Oil trading network set up by late Quds Force boss Qassem Soleimani (Reuters) – Iran’s Revolutionary Guards have tightened their grip on the country’s oil industry and control up to half the exports …
Iran’s Revolutionary Guards Extend Control Over Tehran’s Oil Exports Read More »
Freeland quits ahead of budget update; LeBlanc replaces her The government ran $44 billion deficit in fiscal year 2023-24 Prime Minister Justin Trudeau’s government ran a deeper deficit than projected and broke a fiscal objective outlined by his finance minister, who resigned the day she was set to unveil new spending and revenue estimates. A C$62 …
(Reuters) – Canada’s Finance Minister Chrystia Freeland unexpectedly resigned on Monday, saying she was no longer on the same page with Prime Minister Justin Trudeau about the best path forward for Canada. Freeland quit just hours before she was due to present a fall economic update to parliament, a document widely expected to show the …
Summary Norway oil, gas firms to invest $25 bln in 2025 Investment forecasts raised since last year Inflation, accelerated development, more drilling drive increase Highest number of exploration wells since 2019 OSLO, Dec 16 (Reuters) – Oil and gas companies operating in Norway expect to invest a record 275 billion Norwegian crowns ($24.68 billion) in …
Norway Oil and Gas Industry Forecasts Record Investment in 2025 Read More »
