Tag: oil and gas industry

The Carnegie Endowment for International Peace, a nonpartisan international affairs think tank headquartered in Washington, D.C., looks at the effects of the price cap on the composition of the tanker fleet serving the Russian oil trade.

At least two people died, and four others are missing after an oil barge operated by a contractor of Venezuela's state-run PDVSA sank in Lake Maracaibo, the company announced on 26 September. 

The 2024 OPEC World Oil Outlook (WOO) was launched on 24 September at the ROG.E conference in Rio de Janeiro, Brazil.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued an advisory to alert persons globally to the significant U.S. sanctions risks for parties involved in petroleum shipments. 

The OPEC+ countries, which previously announced additional voluntary cuts in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on September 5th, 2024, during which the eight member countries emphasized their collective resolve to ensure full compliance with the voluntary production adjustments.

OPEC Secretary General Haitham Al Ghais emphasizes that electrification is often misrepresented as a direct rival to oil, perpetuating the myth that these energy sources operate in isolation. 

Iran seized the Togo-flagged tanker Pearl G in the Gulf on Friday, according to Tehran's semi-official Tasnim news agency.

The US Office of Foreign Assets Control has issued a new authorization that allows certain transactions involving the exportation or reexportation of liquefied petroleum gas to Venezuela until July 8, 2025.

OPEC has maintained its forecast for robust global oil demand growth in 2024 and 2025, projecting an increase of 2.25 million barrels per day (bpd) in 2024 and 1.85 million bpd in 2025.

ADNOC has signed a general agreement with the Japan Bank for International Cooperation for a $3 billion green financing facility.