World Oil Demand in 2022 will Exceed 100 Million Barrels Per Day
Global oil demand in 2022 will be above 100 million barrels per day. This was stated by the executive director of Saudi Aramco, Amin al-Nasser. “The demand for oil will exceed the level of 100 million barrels per day next year,” RIA Novosti quotes al-Nasser. The International Energy Agency (IEA) estimates …
Oil Prices Rise on Bullish US Developments, Despite SPR Draw Possibility – Rystad Energy Oil Market Notes
The overall bullish environment continues to boost oil prices today, shrugging off the bearish possibility of a US intervention on the physical oil market with the release of strategic petroleum reserves. Biden’s infrastructure bill is a strong oil demand signal for the future and the lifting of US travel restrictions …
OPEC Daily Basket Price Monday, 8 November 2021, Stood at $82.34 a Barrel
Vienna, Austria, 9 November 2021 – The price of OPEC basket of thirteen crudes stood at $82.34 a barrel on Monday, compared with $80.11 the previous Friday, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
Oil Prices Recover as Bullish Signs Return with a Vengeance After OPEC+ Meeting – Rystad Energy Oil Market Notes
When the market saw oil prices fall after last week’s OPEC+ meeting most observers knew this was an exaggerated reaction and the expectation was that prices would quickly jump back as there was no surprise to justify the drop. In fact, the global oil market conditions through year-end became more …
OPEC Daily Basket Price: Friday, 5 November 2021, Stood at $80.11 a Barrel
Vienna, Austria, 8 November 2021 – The price of OPEC basket of thirteen crudes stood at $80.11 a barrel on Friday, compared with $81.42 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
Gazprom: Completes Gas Injection into UGS Facilities in Russia and Goes Over to European Storage Facilities
Gazprom is completing gas injection into underground storage facilities in Russia to ensure uninterrupted gas supply to the domestic market in the coming winter and is starting to increase supplies to UGS facilities in Europe. Such plans of the company were announced at the end of October by the chairman of …
Former Russian Energy Minister Sergei Shmatko Dies
Former Russian Energy Minister Sergei Shmatko has passed away. He was fifty-five years old. “A week ago, the ex-minister was diagnosed with a coronavirus. Shmatko was admitted to hospital 52. Sergey Shmatko was the Minister of Energy of the Russian Federation from 2008 to 2012. On June 1, 2013, he was appointed …
Zoltav Resources: Update Re Transaction Between Shareholders
Zoltav, the Russia-focused oil and gas exploration and production company, has been notified of certain amendments to the terms of a transaction between two shareholders in the Company which was announced on 29 December 2020. As previously announced, ARA Capital Holdings Limited (“ARA Capital Holdings”) agreed to buy, and Bandbear Limited (“Bandbear”) agreed …
OPEC Daily Basket Price: Thursday, 4 November 2021, Stood at $81.42 a Barrel
Vienna, Austria, 5 November 2021 – The price of OPEC basket of thirteen crudes stood at $81.42 a barrel on Thursday, compared with $81.58 the previous day, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), …
Upstream and Petrochemicals Boosted MOL’s Q3 Results, World Market Turmoil Represents Unpredictability
Today, MOL Group announced its financial results for the third quarter of 2021. Supported by the macro-economic environment, the doubling petrochemicals margins compared to last year and the internal performance of the company, Clean CCS EBITDA strongly rebounded and came in at USD 1,025mn in Q3 2021. This result brought …