The United Arab Emirates’s biggest energy company approved a major liquefied natural gas export (LNG) terminal as it seeks to tap into a growing global market for the fuel. Abu Dhabi National Oil Co. (Adnoc) made the final investment decision to build the LNG plant in the industrial city of Ruwais, according to a statement. […]
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Data source: Refinitiv Eikon The average monthly spot natural gas price at the U.S. benchmark Henry Hub fell 34%, or $1.12 per million British thermal units (MMBtu), to $2.18/MMBtu between January and June, according to data from Refinitiv Eikon. The Henry Hub price averaged $3.30/MMBtu in January on an inflation-adjusted basis and then dropped below […]
The Ma’aden Waad Al Shamal Phosphate Company (MWSPC), based in Saudi Arabia, operates some of the largest and busiest fertilizer plants anywhere in the world. The Umm Wu’al sulfuric acid and power plant is an example, located in a new industrial city in the extreme northeast of the kingdom. Structured around three sulfuric acid trains […]
Under the scope of the contract, Craig International will source and supply products and services for maintenance, repair, and operations (MRO). The three-year contract, which has a two-year extension option, will be delivered by Craig International’s Qatar office, where the firm now employs 45 people, and is supported by the company’s headquarters in Aberdeen. The […]
Bitumen had another rising week in most regions. The changes are slight but it heads upward. India increased rates by 3 USD on 1 March. Singapore and Europe experienced some improvements in bitumen markets. Crude Oil: Oil ended February with the rangebound movement and it didn’t get the chance to break the channel. Although the […]
Bitumen prices in Iran kept rising gradually last week, despite currency market stability, a dip in the dollar against the Rial, and minimal competition among refineries in terms of VB. In the fourth month of heightened tensions in the Middle East, Israel initiated lethal air strikes on Lebanon in response to the death of an […]
(WO) – At India Energy Week 2024, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy, highlighted the challenges in navigating the volatilities, uncertainties and complexities that impact the energy industry during a special panel discussion on energy security. Minister Al-Kaabi emphasized that, in […]
(Bloomberg) – Kenyan President William Ruto said African countries need to be able to tap all their energy resources even if that means developing non-renewable fossil fuels. “I firmly believe that no African country can be asked to halt the exploration of its natural resources, including fossil fuels,” he said in emailed remarks for delivery […]
(Bloomberg) – Oil prices could top $90 per bbl this year if attacks escalate on ships in the Red Sea, according to the top executive at Brazilian state-controlled oil giant Petroleo Brasileiro SA. “We have a very fragile neck there for the oil and gas business,” Chief Executive Officer Jean Paul Prates said in an […]
The White House blamed Iranian-backed militias for the assault on U.S. soldiers, which was denied by Tehran, while Houthi rebels claimed responsibility for the attack on the ship. Here’s what five oil analysts say about the outlook and impact on the oil market: Mizuho Bank Ltd. The oil market “has been exposed to a buffet of […]