Greenland’s government “has decided to cease issuing new licenses for oil and gas exploration,” it said in a statement. “This step has been taken for the sake of our nature, for the sake of our fisheries, for the sake of our tourism industry, and to focus our business on sustainable potentials.” SourceContinue Reading
“Looking ahead to 2022, risks and uncertainties loom large and require careful monitoring to ensure the recovery from the Covid-19 pandemic,” OPEC said in its monthly report, which contained the first detailed estimates for next year. SourceContinue Reading
The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries all say that global oil demand will continue to recover through to at least the end of next year. But there is some disagreement on the paths it will take to get there. SourceContinue Reading
Oil fell for a second day after a surprise jump in U.S. gasoline stockpiles tempered signs that the American market has returned to robust health. SourceContinue Reading
Brookfield Infrastructure Partners LP raised its hostile offer for Canada’s Inter Pipeline Ltd. in another push to break up the agreed C$8.3 billion ($6.6 billion) takeover by Pembina Pipeline Corp. SourceContinue Reading
The Middle East is set to lead capacity growth in the global gas processing industry from planned and announced projects between 2021 and 2025 and account for around 37% to the global gas processing capacity growth by 2025, GlobalData projects. SourceContinue Reading
Uganda is exploring options to cut reliance on Kenya for petroleum imports by reviving shipments through Tanzania, a move that potentially jeopardizes business for its neighbor’s Mombasa port. SourceContinue Reading
While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery. SourceContinue Reading
Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. SourceContinue Reading
The United Arab Emirates has resolved its standoff with OPEC+ and reached a compromise deal that will give it a new output quota, said a delegate. SourceContinue Reading
