The various decarbonization pathways and scenarios likely underestimate the rate at which global energy consumption is increasing, which could lead to a natural gas supply gap by the end of the decade, the Switzerland-based industry organization International Gas Union (IGU) said on Tuesday in its Global Gas Report 2024. If global demand for natural gas […]
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 […]
“Florida residents … will likely see the lowest gasoline prices in three years this holiday weekend.” Gasoline prices in Florida averaged $3.29 per gallon of regular gasoline on Sunday, the lowest daily average in two months, according to AAA-The Auto Club Group’s weekly briefing. The national average rose eight cents early last week, but then […]
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. […]
Image source: Getty Images Blood pressureThe share price of (LSE: BP) has lost around 14% of its value since its 12-month high of £5.62 on October 18. Part of the decline is due to the fall in oil prices during this period, but a larger part, in my view, results from the group’s much stronger […]
(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 […]
PROVIDENCE – Gasoline prices in the Northeast continue to fall ahead of Labor Day due to a mix of positive and negative economic reports. Reports of better-than-expected consumer spending and lower inflation figures in the US sent oil prices soaring early last week. The enthusiasm pushed the price of a barrel of oil up more […]
(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 […]
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 […]
