(Oil & Gas 360) – Last Friday, the Biden administration unveiled its official response to the October 1 attack on Israel by Iran by imposing harsh sanctions on the National Iranian Oil Company. In addition to blocking oil exports, the increased sanctions include petrochemicals and elevated scrutiny and countermeasures to block “ghost ships” from the United Arab Emirates, Liberia, Hong Kong,
(World Oil) – At least one investor is making a big bet that CNX Resources Corp. will keep climbing even as the natural gas producer’s stock reached a 10-year high this week. Options trading in CNX surged as one or more investors bought over 34,000 call options on Thursday and Friday. The derivatives give holders the right to buy more
(Oil & Gas 360) – Since it’s the season for handicapping everything from fantasy football to electoral outcomes, Oil & Gas 360 offers some picks and perspectives if you’re in a peak oil prediction pool. Earlier fossil fuel forecasters were humbled (one would think so, anyway) for utterly underestimating the resource size, ingenuity, and appetite for risk that proved them
(Oil Price) – AI could cause a catastrophic collapse of under-prepared electric grids and walk back advancements in the decarbonization of the tech industry – or, it could be the sector’s saving grace. Artificial Intelligence requires a stunning amount of energy to train and power its complex computations. As the sector explodes, the computational power necessary to sustain its growth is doubling
(World Oil) – Eni SpA has received substantial interest for its next floating liquefied natural gas project in Mozambique, even as international lenders face growing pressure to reduce exposure to fossil fuels. Luca Vignati, director of Eni’s upstream business, said in an interview that the plant will cost about the same as its $7 billion Coral South project, inaugurated in 2022.
(Oil Price) – Algeria is set to soon announce a new oil and gas licensing round in which major international firms, including ExxonMobil and Chevron, are expected to take part. The OPEC member’s national development hydrocarbon agency, ALNAFT, will announce a new licensing round, looking to attract foreign investment and operators in its oil and gas sector, Algerian Energy Minister Mohamed
(World Oil) – The U.S. broadened the scope of its sanctions on Iran’s oil and gas sectors in response to a ballistic-missile attack on Israel, ramping up economic pressure on Tehran ahead of Israeli retaliation that’s expected any day. Under the action announced Friday, the Treasury Department invoked a Trump administration-era executive order that allowed for sanctions on any area of the Iranian
(Yahoo Finance) – OPEC trimmed its forecasts for oil demand growth this year and next for a third consecutive month as the group belatedly recognizes a slowdown in global fuel use. Global oil consumption will increase by 1.9 million barrels a day — roughly 2% — in 2024, or 106,000 barrels a day less than previously forecast, the Organization of
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