More Top Stories in Markets

Crude Oil

US Emergency Oil Reserve Drops to Lowest Level Since 1987

Crude oil stockpiles in the U.S. Strategic Petroleum Reserve fell to 538 million barrels, the lowest since 1987, data from the U.S. Department of Energy showed.

May 16, 2022

Field Development

Norway’s Hammerfest LNG Plant Extends Outage Another Week

Europe’s only large-scale LNG plant, at Melkoeya island just outside the Arctic town of Hammerfest, can process 18 million cubic meters of gas per day when fully operational.

May 16, 2022

Crude Oil

What’s Affecting Oil Prices This Week? (May 16, 2022)

According to Stratas Advisors, the question remains: when will oil prices break out of their current pattern and in which way will they break—below the lower support level or upwards to new highs?

May 16, 2022

People

Tellurian Hires Former McDermott COO Samik Mukherjee as Keith Teague Retires

Mukherjee will be responsible for all Tellurian’s asset projects including the construction and operations of Driftwood LNG

May 16, 2022

Crude Oil

Saudi Arabia Set for Oil Output Capacity Above 13 Million Barrels Per Day by 2027

Prince Abdulaziz bin Salman said production could be maintained at that level should market demand require it.

May 16, 2022

Public Capital

Expert: Energy’s Stock Market Boom Just the Start of a Supercycle

Despite the efforts of the divestiture movement, the oil and gas sector’s 12-month performance clobbers that of the market as a whole.

May 16, 2022

Petrochemicals

Oil Jumps 4% as US Gasoline Prices Hit Record High, Stock Markets Soar

WTI was on track for its highest close since March 25 and its third weekly rise. Brent, however, remained set for its first weekly decline in three weeks.

May 13, 2022

Liquefied Natural Gas (LNG)

Latest Venture Global LNG Deals Advance Second Louisiana Facility

The Petronas and Exxon Mobil contracts follow purchase agreements with China Petroleum & Chemical and New Fortress Energy for the plant.

May 13, 2022

Crude Oil

IEA May Release More Oil If Needed, Says Fatih Birol

IEA Executive Director Fatih Birol also said that the summer may be challenging for the oil market, while winter may be challenging for the gas market.

May 13, 2022

Markets

Europe Refiners Benefit from US Emergency Oil Stock Releases

With continued releases of the U.S. Strategic Petroleum Reserve over next several months, “expect to be seeing some of those exported,” Kpler’s Smith said.

May 12, 2022