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Natural gas prices fall in first half of 2023 amid record production and mild temperatures

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 […]

Mammoet facilitates upgrade of Ma’aden’s sulfuric acid and power plant

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 […]

Craig International expands Middle Eastern footprint with QatarEnergy LNG contract

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 […]

QatarEnergy CEO calls for “balance” between energy security and sustainability at India Energy Week 2024

(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 […]

African countries must tap all energy resources, including fossil fuels, Kenyan President says

(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 […]

Opinion: What deadly Middle Eastern attacks on U.S. troops, Russian tanker mean for global oil market

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 […]

No changes to oil production policy expected at upcoming OPEC+ meeting

Saudi Arabia and its allies have just this month started new production cutbacks and need more time to assess their impact, said the officials, who asked not to be identified. The group’s Joint Ministerial Monitoring Committee is due to convene online on Feb. 1. Oil prices have so far shown a muted response to the […]