What's Affecting Oil Prices This Week? (Dec. 12, 2022)

OPEC member are experiencing supply issues, but they are being overshadowed by decreased Brent crude demand in the U.S., as well as global economy concerns, according to Stratas Advisors.

December 12, 2022

China, Saudi Arabia Affirm Importance of Stable Global Oil Markets

Saudi Aramco and Shandong Energy will also explore a potential crude supply agreement and chemicals products offtake deal.

December 9, 2022

Energy Transition in Motion (Week of Dec. 9, 2022): Advancing Projects, Investment

Here’s a look at some of this week’s renewable energy news.

December 9, 2022

Oil Set for 10% Weekly Drop as Demand Worries Dominate

In percentage terms, Brent and WTI crude are set for their worse weekly drops since August and April of 2022, respectively, at approximately 10% each.

December 9, 2022

Baker Hughes, Chesapeake, Continental, Inpex Partner to Advance Geothermal Energy

The Wells2Watts consortium will focus on technology to retrofit abandoned oil and gas wells into geothermal wells.

December 9, 2022

TotalEnergies May Buy Green Power From Fortescue in Papua New Guinea

The possible deal comes as Fortescue's clean energy subsidiary looks to become a major green hydrogen producer.
 

December 8, 2022

CNOOC, Enping Oilfield Joint Development Project Production Begins

The development of the Enping 15-1/10-2/15-2/20-4 oilfields is China’s first offshore carbon capture and storage demonstration project.
 

December 7, 2022

TotalEnergies Plans to Capture 1 Million Tonnes/Year in PNG Megaproject

The Papua LNG project is jointly owned by Exxon Mobil Corp., Santos Ltd. and Kumul Petroleum and produces 5.4 million tonnes of LNG per year.

December 7, 2022

Australia in Talks to Help Papua New Guinea Buy $1.1 Billion PNG LNG Stake

Santos Ltd. first announced PNG's Kumul Petroleum made a bidding offer to buy its 5% stake in PNG LNG in September subject to other joint venture partners.

December 6, 2022

Expert: OPEC’s Production Hold Reveals Shift from Active to Reactive

Oil cartel will take its time to evaluate impact of the EU’s ban on seaborne imports and the G7’s $60/bbl price cap for Russian crude.

December 6, 2022