Author: majorwavesen

Oil Tracks Global Equities Higher, IEA Demand Downgrade Weighs Oil prices rose about 1% on Thursday, reversing earlier falls, on expectations that U.S. interest rates had peaked, but a lower demand growth forecast for next year from the International Energy Agency and higher U.S. inventories limited further gains. Brent futures rose $1.01, or 1.20%, to…

White House Plans New Sanctions on Russian Oil Exports The Biden administration is set to announce today new sanctions on Russia targeting specifically its oil exports after multiple reports that Russian crude was selling at a significant premium to the G7 price cap of $60. CNN reported that the target of the new set of…

‘Gas has to be the Main Driver of Nigeria Energy Transition’ –Nwokedi Giving his views on energy transition while speaking at a panel session during the 2023 annual strategic international conference of the Association of Energy Correspondents of Nigeria (NAEC) held in Lagos, President of Nigeria Gas Association (NGA), Akachukwu Nwokedi, revealed that many Nigerians…

Goldman Sachs Sees No Immediate Impact on Oil Inventories From Israel Attacks Goldman Sachs does not see any immediate major effect on near-term oil market inventories from the attacks in Israel over the weekend, it said in a note. It added, however, that the attacks reduce the likelihood of normalization of the country’s relations with…

Australia LNG Unions Threaten Fresh Strikes Next Week, Chevron says Deal Possible Chevron has asked Australia’s industrial tribunal to help resolve a “small number” of issues blocking a deal with unions at its two liquefied natural gas (LNG) facilities in Western Australia as workers announced plans to resume strikes next week. Chevron said on Monday…

Shell Nigeria Invests $56.13m for Trust Funds in 2023 Shell companies in Nigeria (SCiN), plans to spend about $56.13 million has been earmarked to be paid in this financial year, as a statutory contribution to the Host Communities Development Trusts (HCDT). The amount, which will be paid by two of its subsidiaries – The Shell…

Putin Says OPEC+ Output Cuts ‘Likely’ to Continue into 2024 Russian President Vladimir Putin told an energy conference in Moscow on Wednesday that Russia and Saudi Arabia would “most likely” extend output cuts into 2024 and warned that clashes in the Middle East could impact oil exports with higher shipping and insurance costs. “I am…