How Nord Stream 2 and the Rise in Gas Tariffs in Ukraine are Connected
Europe needs gas, but it is in no hurry to launch Nord Stream 2, which was built back in September. Although only the news of the timing of the start of its work could reduce the exchange gas prices, breaking records since mid-summer 2021. The official reason for the delay is the …
Gas Market Bearish but Caution is Advised Until New Supplies Materialize – Rystad Energy Gas and LNG Market Comments
In Asia, after several months’ efforts on restocking, Chinese storages have largely completed their gas injections. Our data indicates Chinese LNG imports dropped more than 50% last week to around 15 cargoes, a number we see staying flat for the current week. Overall regasification facility utilization dropped to below 90% …
Oil Back up on Expected OPEC+ Conservatism – Rystad Energy Oil Market Notes
Although prices fell sharply on Wednesday after surprisingly high crude stock builds in the US, today the dust settled and the market sentiment turned bullish ahead of the OPEC+ meeting, as traders expect the group to stand firm on its policy for a gradual modest production increase. Prices are rising …
22nd OPEC and Non-OPEC Ministerial Meeting Concludes
The 22nd OPEC and non-OPEC Ministerial Meeting, held via videoconference, concluded on Thursday November 4 2021. The meeting reaffirmed the continued commitment of the Participating Countries in the Declaration of Cooperation (DoC) to ensure a stable and a balanced oil market, the efficient and secure supply to consumers and to …
OPEC Daily Basket Price: Wednesday, 3 November 2021, Stood at $81.58 a Barrel
Vienna, Austria, 4 November 2021 – The price of OPEC basket of thirteen crudes stood at $81.58 a barrel on Wednesday, compared with $83.37 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), …
OPEC Daily Basket Price: Tuesday, 2 November 2021, Stood at $83.37 a Barrel
Vienna, Austria, 3 November 2021 – The price of OPEC basket of thirteen crudes stood at $83.37 a barrel on Tuesday, compared with $82.49 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 and RusGazDobycha Set Up a Joint Venture in Yamal
Gazprom and RusGazDobycha have established a joint venture Gazprom Dobycha Tambei to develop the Tambeyskoye field in Yamal. This was reported in the gas holding’s Telegram channel. The joint venture will develop and ensure the development of the Tambeyskoye field on the Yamal Peninsula with the start of gas production from …
ExxonMobil: to Sell a Stake in Joint Venture for Gas Production in the Black Sea
US oil and gas giant ExxonMobil has agreed to sell its stake in the development of natural gas fields in the Black Sea. It will be acquired by the Romanian state-owned company Romgaz for $ 1 billion. Exxon Mobil Corp. agreed to sell its 50% stake in the project for the development …
NOVATEK: to Launch the Harbeyskoye Field in the Yamalo-Nenets Autonomous Okrug Within a Few Weeks
NOVATEK will launch the Harbeyskoye oil and gas field in the Tazovsky District of the Yamalo-Nenets Autonomous District within a few weeks. This was stated by the head of the company’s investor relations department Alexander Nazarov. The Kharbeyskoye field is part of the North-Russian block, along with the North-Russkoye, Dorogovskoye and …
OPEC Daily Basket Price: Monday, 1 November 2021, Stood at $82.49 a Barrel
Vienna, Austria, 2 November 2021 – The price of OPEC basket of thirteen crudes stood at $82.49 a barrel on Monday, compared with $82.87 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), …