Tag: oil and gas industry

The Oil & Gas Decarbonization Charter (OGDC) published on November 11, its Baseline Report, setting a foundation to help prioritize and track progress on emissions reductions made by the 54 oil and gas companies - representing almost 45% of the global oil production, that have signed up to the Charter’s ambitions.

On the morning of 1 November, the chemical tanker Southern Puma and the bulk carrier Louisa Bolten collided in the Strait of Gibraltar, approximately 20 miles southeast of Punta Europa and 15 miles east of Ceuta.

According to Gibson, nearly 63% of all tankers (above 25k dwt) built in 2009 or older are engaged in grey fleet activity by either trading sanctioned Iranian, sanctioned Venezuelan and/or have been solely engaged in Russian trade over the past 6 months.

On 21 October, the Price Cap Coalition has issued an advisory for both government and private sector actors involved in the global maritime industry, regarding shadow trade.

OPEC has critiqued IEA’s World Energy Outlook 2024 by arguing that some of IEA’s visions and estimates don’t align with current energy realities.

International Energy Agency (IEA) has published its 2024 World Energy Outlook, examining the impact of maritime chokehold routes on global trade, and the transition to low-emissions fuels. 

The Oil Market Report for the month of October 2024 by the International Energy Agency (IEA), explores several key factors that are shaping the oil industry in 2024 and 2025.

The Organization of the Petroleum Exporting Countries (OPEC) has released its Monthly Oil Market Report for October 2024, providing key insights into the current state of the global oil market.

According to the Energy Information Administration (EIA), the amount of crude oil and oil products flowing through the Bab el-Mandeb, the southern chokepoint at the mouth of the Red Sea, decreased by more than 50% in the first eight months of 2024.

Recent data from the Centre for Research on Energy and Clean Air (CREA) reveals that the number of 'shadow' tankers has surged, with 294 such vessels having transported Russian seaborne oil.