Monday, Dec 23, 2024

The World of Petroleum and Bitumen

What the Oil and Gas Industry Seeks from Trump and How He Could Fulfill Their Agenda

The oil and gas sector has presented a detailed agenda for President-elect Donald Trump to consider.

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China and U.S. Steer 2025 Oil Market Outlook

Uncertainty over oil demand growth is expected to linger beyond 2024, accompanied by concerns over potential price declines.

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Saudi Arabia and OPEC+ Prepare for Turbulence Amid Trump’s New Oil Strategy

Trump has been openly critical of OPEC, Saudi Arabia’s policies, and China’s growing influence in the region.

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Nigeria’s Port Harcourt Refinery Embarks on Petroleum Product Export Journey

The recently refurbished Port Harcourt refinery in Nigeria has officially begun exporting refined petroleum products, marking a significant milestone...

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Russian Oil Exports to China via Kazakhstan Show Stability in 2024

Russian oil exports to China through Kazakhstan’s pipeline system have remained steady throughout 2024, according to data from KazTransOil, Kazakhs...

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Saudi Arabia Gains Ground in Asian Oil Market as Russian Exports Decline

Saudi Arabia has managed to reclaim a portion of its oil market share in Asia, the largest oil-importing region globally, as its crude exports increa...

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China’s Key Shale Oil Site Surpasses 1 Million Tons in Annual Output

The first national-level shale oil demonstration site in China, situated in the Xinjiang Uygur autonomous region, has achieved an annual production m...

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Pakistan’s Petroleum Policy Crisis Worsens

Islamabad: Pakistan’s Petroleum Division is facing heightened turmoil as disagreements over gas allocation policies and other key petroleum issues ...

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Czech Republic Ends Reliance on Russian Oil

The Czech Republic will halt imports of Russian oil by July 2025 as part of its strategy to diversify energy sources.

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Strategies to Transform the Petroleum Industry Toward Sustainability

Petroleum has become indispensable across numerous industries, yet its extensive use, extraction processes, and combustion have contributed significa...

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India claims credit for stabilizing global petroleum prices by buying Russian petroleum

India's Petroleum Minister, Hardeep Singh Puri, has stated that if India had not purchased petroleum from Russia after the start of the Ukraine war, ...

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Scenario of $40 petroleum gains traction

Market observers warn that if OPEC+ reverses its current voluntary supply cuts, petroleum prices could plummet to $40 per barrel.

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World bank warns of petroleum prices dropping below $60

The World Bank has predicted that a significant oversupply of petroleum in the coming years could lead to prices falling below $60 per barrel.

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Russia in talks to merge its largest petroleum companies

An American newspaper has claimed that Russian government officials and business executives have been negotiating the merger of the country’s large...

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Turkey sets record in petroleum and gas production

Turkey achieved record-breaking daily and monthly petroleum and natural gas production in October.

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US Oil Industry Urges Trump to Revoke Biden’s Climate Policies

The US oil and gas industry has called on President-elect Trump to repeal many of Joe Biden’s climate policies, arguing that these measures threate...

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IEA Revises Oil Demand Growth Forecast for 2024, Lowers Next Year’s Estimate

The International Energy Agency (IEA) has adjusted its predictions for global oil demand, increasing its estimate for 2024 but lowering expectations ...

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US petroleum imports from Saudi Arabia decline

U.S. petroleum imports from Saudi Arabia have dropped to their lowest level in nearly four years, coinciding with an increase in Canadian petroleum e...

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Latin American petroleum finds new buyers

With the recent shift in Canadian pipeline flows, refineries along the U.S. Gulf Coast are increasingly turning to heavy crude oil from Latin America

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Venezuela’s petroleum exports reach four-year high

Venezuela’s petroleum exports in October surged to their highest level in four years, driven by increased production and greater sales to India and...

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