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US LNG exports increased in the first half of this year as international natural gas and LNG spot prices increased in Asia and Europe due to cold weather. Natural gas demand in the spring continued to rise amid low post-winter inventories, which contributed to unseasonably high natural gas prices. Bcf/d for a total peak capacity of 10.8
Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. by Nick Cunningham for Oilprice.com. bank Citi said.
Less petroleum demand and the associated lower petroleum product prices encouraged refinery closures, reducing global refining capacity, particularly in the United States, Europe, and Japan. The refinery’s return is likely to decrease petroleum product prices and increase supply, particularly in south and southeast Asian markets.
Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. The gains in the rig count come even as oil prices have held steady in the mid- to low-$50s per barrel. The pace and magnitude of each trend will ultimately drive oil prices one way or the other.
The gross refining margin is nothing but the difference between the value of the refined products and price of the crude oil. In case of Saudi Arabia, the price of crude oil would be extremely low. Is Saudi Arabia likely to win a potential price war against Asian producers of diesel? By offering almost 2.8 In fact, at $5.60
To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. million barrels daily, including from Russia, to reverse the free fall of oil prices. Saudi Arabia cannot afford another slump in oil prices,” he warns. “It Kemp agrees.
With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. The Saudis have already sparked an oil price war with the Asian refiners downstream by offering close to 2.8 Is Saudi Arabia losing the oil price war? “It
The price represents a premium of. 61% relative to the closing price of the Common Shares on the NYSE on. 20 July 2012 and a premium of 66% relative to the volume-weighted average price of the Common Shares over the 20 trading days ending 20 July 2012. billion cash. Nexen’s current debt of approximately US$4.3
The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.
Simply put, the world has too much oil at the moment which has resulted in the reduction of price levels from approximately $100 to $50 a barrel, and OPEC (as well as US shale producers) has a major role to play in this supply glut. Nigeria’s dilemma. Iran Nuclear Deal: A warning sign for OPEC? Iraq’s Issues.
Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. by Nick Cunningham of Oilprice.com.
If half of this flare gas (25 bcm per year) was captured and sold at prevailing domestic prices in Russia, the economic opportunity may exceed US$2 billion (65 billion rubles). Although Nigeria has reduced flare gas emissions by 28% from 2000 levels, the country’s oil industry still wastes 15bcm of natural gas every year.
These additions assume the long-term pricing basis that the corporation uses to make its investment decisions, rather than single-day, year-end pricing. Proved additions were also made in a diverse range of countries including the United States, Norway, Nigeria, Angola and Australia. billion oil-equivalent barrels.
A technologist right out of the gate Born in Lagos, Nigeria, Ayelagbe was captivated by how things worked from a young age. While the conventional path to upward mobility in Nigeria might have led him to becoming a doctor or nurse, his parents supported his pursuit of technology.
However, it also shows that where countries have implemented measures to govern the import of used vehicles—notably age and emissions standards —these give them access to high-quality used vehicles, including hybrid and electric cars, at affordable prices. The Netherlands cannot address this issue alone.
Breakeven prices are hard to pin down, and harder yet because they fluctuate. OPEC governments downsize their budgets, cut social spending and put big projects on hold to lower the breakeven price. It’s probably more concerned about regaining the market share it lost under sanctions than it is about low prices.
million tons per year) has already been sold for 15 years under oil-linked price contracts, mostly directed to third-party consortiums of Taiwanese and Japanese buyers including INPEX. The group has interests in LNG projects in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, and Russia.
Ricardo’s Rising-15 automotive markets include: Argentina; Egypt; Indonesia; Iran; Malaysia; Mexico; Morocco; Nigeria; Peru; the Philippines; South Africa; Thailand; Turkey; Ukraine; and Vietnam. Nissan introducing new Datsun in Indonesia.
After he graduated from the Federal University of Technology in Owerri, Nigeria, his plan was to get a high-paying job at one of the multinational oil and gas companies based in the country. Orajaka says his off-grid system of the first of its kind developed and implemented in Nigeria. The IEEE member is GVE’s chief executive.
This figure includes subsidies to lower the prices of petroleum products, kerosene or liquefied petroleum gas (LPG), typically in developing countries, as well as subsidies to the oil, gas or coal industries, provided by many governments in both developing and developed countries. Some data exist on most types of fossil fuel subsidies.
Nigeria or Algeria cannot do the same for their oil industry. Fossil-fuel exporters rush to produce as much as they can, despite falling prices and constraints on trade. Saudi Arabia and Kuwait might, and should be encouraged to do so. —Goldthau et al. EU nations disagree, weakening joint policies.
Nigeria is witnessing a transformative shift in its transportation landscape as the adoption of electric vehicles (EVs) gains momentum. This evolution is driven by a combination of governmental policies, economic factors, and environmental considerations, positioning Nigeria as a burgeoning hub for electric mobility in Africa.
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. Their share of OPEC output increased to 26.6 percent from 10.2
The IHS Markit report, entitled: “Back to the Basins: International Shorter-Cycle Opportunities,” initially assessed five, short-cycle projects outside the US in mature, late-life basins in Mexico, Nigeria, Egypt, Brazil and the North Sea, and included both shallow water and mature, onshore areas that break even at per-barrel costs under US$40.
Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ). percent of GDP in 2014. Natural gas data from Gazprom). billion respectively).
The 504 stayed in production quite deep into the 21st century ( in Nigeria ), and the 505 was its ordained successor. The price tag for this transmission came to $370, or around $1,208 in 2023 dollars. Perhaps the Datsun Maxima Diesel sedan was more of a direct competitor to this car, with its price tag of $11,419 ($37,271 now).
according to cent of its internet gross sales in FY22, dropped each in quantity and in price phrases in FY23. Then again, the corporate’s exports, which accounted for 52.7
While DoD and the services will have access to the wholesale fuel supplies they require, the purchase price may be uncomfortably high. As fuel consumers, DoD and the services have only one effective option to deal with high petroleum prices: to reduce use of petroleum fuels overall. Additionally, U.S.
Oil prices are probably already high enough to spark a rebound in shale production. By the third quarter, oil prices had climbed back to above $40 and traded at around $50 per barrel for some time, replenishing some lost revenue. He estimates that OPEC’s cuts could succeed in pushing oil prices sustainably up to $55 per barrel.
pled guilty in the District of Connecticut to a commodity price manipulation conspiracy. billion to resolve the government’s investigations into bribery and commodity and price manipulation. The Commodity Price Manipulation Case. In addition, as part of a separate resolution, Glencore Ltd., Together, Glencore and Glencore Ltd.,
With the introduction of the Clean Car Discount in 2022, the skyrocketing prices of petrol and diesel across the country and the increasing number of electric vehicles available in New Zealand, we are seeing more EVs on our roads than ever before.
With the introduction of the Clean Car Discount in 2022, the skyrocketing prices of petrol and diesel across the country and the increasing number of electric vehicles available in New Zealand, we are seeing more EVs on our roads than ever before.
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