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(Reuters) – Shell will not resume construction of a biofuels facility at its Shell Energy and Chemicals Park in Rotterdam after an in-depth evaluation found it would not be competitive, the company said on Wednesday. The project’s construction was paused in July 2024 due to weak market conditions. Shell in September 2021 had approved the development of …
Shell Scraps Plans for Biofuels Facility in Rotterdam Read More »
Summary Eight OPEC+ countries to meet on Sunday OPEC+ could also pause hikes for October, source says No immediate comment received from OPEC or Saudi authorities (Reuters) – OPEC+ will consider further raising oil production at a meeting on Sunday, two sources familiar with the discussions said, as the group seeks to regain market share. …
OPEC+ to Consider Further Oil Output Hike on Sunday Read More »
(Reuters) – EOG Resources CEO Ezra Yacob confirmed on Tuesday that the company’s project with the Abu Dhabi National Oil Company is running on schedule, with ADNOC drilling horizontal wells and testing oil to the surface at a shale block in the United Arab Emirates. Houston-based EOG Resources operates the block and had expected to …
ADNOC Starts Drilling Wells at EOG Resources’ UAE Shale Play Read More »
(Reuters) – U.S. President Donald Trump said on Tuesday he was “very disappointed” in Russian President Vladimir Putin and added without elaborating that his administration was planning to take some actions to bring down deaths in Russia’s war in Ukraine. The Republican leader also said he was not concerned about warm ties between Russia and …
Trump Says He is ‘Very Disappointed’ with Putin over Ukraine Read More »
By Dorothy Neufeld | Graphics/Design by Sabrina Lam Original: www.visualcapitalist.com/the-worlds-top-25-countries-by-oil-consumption/ Key Takeaways In 2024, U.S. oil consumption stood at 19 million barrels per day, a change of -0.1% from the previous year. China follows next, with 16.4 million barrels per day, changing -1.2% over the year. Over the past decade, India’s oil consumption has grown …
Ranked: The World’s Top 25 Countries by Oil Consumption Read More »
(Reuters) – Asia’s imports of crude oil rebounded in August as heavyweight buyers China and India bought more crude from top exporters in the Middle East. The world’s top importing region saw arrivals of 27.18 million barrels per day (bpd) in August, up from 24.91 million bpd in July and also above the 26.39 million …
Asia Crude Oil Imports Surge in August, But is it Demand or Prices? Read More »
Summary Number of Western sanctions surges following Russia’s invasion of Ukraine Russian crude has traded above G7 price cap for most of the time China imports LNG from sanctioned Russian plant for first time in August (Reuters) – The complex web of Western sanctions targeting Russia’s oil and gas industry has failed to impede Moscow’s …
West Hits ‘Peak Sanctions’ on Russia’s Energy Sector Read More »
Russian President Vladimir Putin, after talking with China’s Xi Jinping and India’s Narendra Modi, said on Monday the issue of NATO’s eastward enlargement would have to be addressed for there to be sustainable peace in Ukraine. Putin ordered tens of thousands of troops to invade Ukraine in February 2022 after eight years of fighting in …
India is not “profiteering” from Russian oil imports and its purchases have stabilised markets while keeping prices from rising to as much as $200 a barrel, Hardeep Singh Puri, country’s oil minister, said in the Hindu newspaper on Monday. The U.S. has targeted India for its Russian oil purchases, with President Donald Trump imposing tariffs …
Indian Oil Minister Denies Country is Profiteering From Russian Imports Read More »
On the eve of a visit to China, Russian leader Vladimir Putin blasted Western sanctions as his country’s economy teetered on the brink of recession, wounded by trade curbs and the cost of his war in Ukraine. Russia and China jointly opposed “discriminatory” sanctions in global trade, Putin said in a written interview with China’s …
Putin Lambasts Trade Sanctions on Eve of Visit to China Read More »
