Vitol executive Ben Marshall told oil and gas producers at IPAA’s Private Capital Conference that Saudi Arabia is losing patience. Also, the energy transition will take longer than expected.
Escalating tensions in the Red Sea heighten the potential for shipment disruptions and major impact on energy markets.
The year ahead could include more technology stacking, commercialization of geothermal technologies and improved economic conditions, analysts say.
Despite record U.S. natural gas production, parts of the U.S., including New England, face difficulties finding adequate supplies for power generation.
Venezuelan consultancy Ecoanalítica expects the OPEC country’s oil production and economy to grow in 2024—aided primarily by a recent license granted to the benefit of oil and gas companies by the U.S. government.
A Norwegian-owned vessel was attacked in the Red Sea on Dec. 18, causing shipping firms to avoid the route.
The Red Sea attacks have begun to affect energy shipments, with BP temporarily pausing all transits through the Red Sea and oil tanker group Frontline avoiding passages through the waterway.
Venezuela's national assembly approved a 15-year extension for a pair of joint ventures between state-owned oil company PDVSA and U.S. major Chevron.
To allow Chevron Corp. to recoup outstanding debts in Venezuela, Washington has had to make two risky board moves in a geopolitical chess match with the South American country.
Regions trying to wean themselves off natural gas, like New England and Europe, are at risk of an energy crisis in a harsh weather event, says BOK Financial’s Dennis Kissler.