( World Oil) – OPEC doubled down on forecasts that global oil demand will keep growing to the middle of the century. World oil consumption is set to increase by 17.9 MMbpd, or roughly 18%, to 120.1 MMbpd by 2050, the Organization of Petroleum Exporting Countries said in its annual long-term outlook. It raised estimates covering the next two decades
(BOE Report) – U.S. energy company EQT plans to reverse some natural gas production curtailments in October and November as demand for the fuel and prices increase, CEO Toby Rice told Reuters on Wednesday. EQT, the biggest U.S. natural gas producer, has along with other U.S. drillers curtailed output in 2024 after prices collapsed to multi-year lows in the spring
(Oil & Gas 360) – A combined effort between one of the world’s most storied cities and the United Nations aimed at generating more urgency on climate action awaits those in New York this week at the United Nations Climate Change Conference. Climate Week NYC is from September 22 to 29. The event is held every year in partnership with
(Oil Price) – Brent Crude prices are set to recover to $80 per barrel in the fourth quarter, Claudio Descalzi, chief executive at Italian energy major Eni, said on Wednesday. “Oil (is seen) at around $80 per barrel, while for natural gas in Italy we can (expect a price of) 30 euros per megawatt hour,” Descalzi said on the sidelines of the
(World Oil) – (Bloomberg) – Shell Plc’s Norwegian unit won’t pursue a project that would have used natural gas from its Nyhamna processing facility to make blue hydrogen due to a lack of demand. Having assessed its feasibility, Shell is shelving the project, company spokesman Jan Soppeland said Tuesday. That follows Friday’s announcement by Equinor ASA — Norway’s biggest oil
(Oil Price) – Storm Helene is moving east, with the Gulf of Mexico oil platforms likely to avoid any damage from it, the latest reports on the storm’s development suggest. Helene is still a storm but some expect it to grow to a hurricane, and fast, according to Yahoo News. The outlet reported that the National Hurricane Center had predicted Helene would develop
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