Crude Oil , International

Iraqi Oil Minister Expects Oil to Reach Over $75

Ihsan Abdul-Jabbar said the current oil prices are unfitting for producers and that he expects them to return to a stable level in the coming months.

December 7, 2021

Investment , Legislation , International , Energy Transition

Oil CEOs Clash with U.S. Energy Dept Official over Energy Transition

Executives from Saudi Aramco, Exxon Mobil and Chevron blamed demand for renewables and lack of investment in fossil fuels for recent fuel shortages and price volatility.

December 7, 2021

Crude Oil , Trade , International , Shale Plays

BP Backs Adding WTI Midland Oil Grade to Brent

“BP strongly believes that the inclusion of WTI Midland, executed correctly, is the best solution for enhancing liquidity, retaining Brent as a well-supplied and trusted light, sweet benchmark,” according to a document seen by Reuters.

December 6, 2021

International , Emissions , Energy Transition

China Releases Green Development Plan Tied to Carbon-neutral Goal

China, the world’s top greenhouse-gas emitter, is aiming to bring its carbon emissions to a peak by 2030 and become “carbon-neutral” by 2060.

December 3, 2021

Crude Oil , Trade , International

White House Welcomes OPEC’s Plans to Pump More Oil

“We appreciate the close coordination over the recent weeks with our partner Saudi Arabia, the UAE and other OPEC+ producers to help address price pressures,” said White House spokesperson Jen Psaki.

December 2, 2021

Crude Oil , Trade , International

US Pressure Trumps Virus: OPEC+ Agrees to Maintain Oil Output Hike

The United States has repeatedly pushed OPEC+ to accelerate output hikes as U.S. gasoline prices soared and President Joe Biden’s approval ratings slid.

December 2, 2021

Field Development , International

Houston-based APA Says Egypt Close to Being ‘Most Attractive Investment’ in Portfolio

The new PSC will consolidate the majority of the concessions operated by APA’s subsidiaries operating in Egypt (Apache) into a single new concession.

December 1, 2021

International , Health, Safety & Environment , Emissions , Energy Transition

EU Reaches For Hydrogen Stars as Economics Shift

In 2020, grey hydrogen could be produced for around 2 euros (US$2.26) per kilogram, compared to as much as 6 euros per kilo for the green version, industry estimates found.

November 30, 2021

Crude Oil , Trade , International

Russia, Saudi Signal No Rush on Omicron Ahead of OPEC+ Meeting

OPEC+ postponed two committee meetings from that were planned for Nov. 29-30 to later during the week to “buy time to review matters” surrounding the new variant, Prince Abdulaziz said.

November 29, 2021

Business , International , Transactions

Reliance, Aramco Reportedly Call Off $15 Billion Deal amid Valuation Differences

Sources say talks broke down between Reliance Industries and Saudi Aramco over how much Reliance’s oil-to-chemicals business should be valued as the world seeks to move away from fossil fuels and reduce emissions.

November 29, 2021