Ukraine banned Lukoil products from crossing the border this summer, worrying Hungary and Slovakia, both of which receive Russian oil via a pipeline through Ukraine. In a statement, MOL said it would “take ownership of the affected crude oil volumes on the Belarus-Ukraine border” starting Monday. Hungarian government spokesman Zoltan Kovacs praised the workaround. “We […]
PROVIDENCE — Gasoline prices in Rhode Island have fallen for the fifth straight week, thanks in part to stable supply and demand trends in late summer. However, ongoing tensions in the Middle East and a jump in oil prices last week could mean an end to the downward trend. In the past, gasoline prices peaked […]
OMV (Norge) AS, operator of PL 1194, completes drilling in the Norwegian Sea for the “Haydn/Monn” exploration areas. The well encountered gas with an estimated total recoverable volume of 30 to 140 million barrels of oil equivalent (boe). “By focusing on gas as a transition fuel, OMV is investing in affordable energy solutions and contributing […]
(Bloomberg) — Sinopec, China’s largest oil refiner, reported a slight increase in first-half profit as better performance at its upstream operations offset weakness in refining and petrochemicals. Net profit for the first six months was 35.7 billion yuan ($5 billion), up 1.7 percent from a year earlier, according to a stock exchange statement on Sunday. […]
(Bloomberg) — According to Kevin Gallagher, chief executive of Santos Ltd., demand for natural gas will remain strong despite government and corporate efforts to reduce emissions to zero by mid-century. Gallagher is under pressure to deliver on its ambitious strategy to increase production by more than 50% by the end of the decade and establish […]
(Bloomberg) — Russian gas producer Novatek PJSC appears to be pushing ahead with an expansion project for its Arctic LNG 2 plant despite Western energy sanctions. A small fleet of tugboats towing a second production train approached the site of the plant on Saturday, according to vessel tracking data. The platform left the construction site […]
According to AAA, the average price for a gallon of regular unleaded gasoline in the Killeen-Fort Cavazos area has decreased compared to the previous week. In the region, the average price on Saturday was $2.96, the same price as last week and 48 cents lower than the same period last year, according to AAA. Here’s […]
The U.S. Energy Information Administration (EIA) reports that China consumed 7% more natural gas in 2023 than in 2022. In 2022, consumption fell by 1.1% as economic growth slowed, mainly due to China’s zero-COVID policy, leading to a decline in natural gas consumption. In 2023, annual natural gas consumption increased across all economic sectors in […]
PROVIDENCE — Gasoline prices continue to fall in the final weeks of summer, partly due to slowing demand and rising domestic production, but markets are closely watching renewed tropical storm activity in the Atlantic and rising geopolitical tensions in the Middle East. “It appears that gas prices are falling seasonally as the summer season comes […]
Gas from the project will flow to Shell’s QCLNG liquefied natural gas (LNG) plant on Curtis Island near Gladstone to fulfil long-term contracts and supply domestic customers. This is part of an existing 27-year gas sales agreement between Arrow Energy and QGC. Phase 2 is expected to deliver approximately 22,400 barrels of oil equivalent per […]
