Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.
The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Facing reduced domestic gas volumes, Indian gas distribution companies are increasing their purchases of regasified LNG, a move likely to raise costs for consumers.
Kuwait is committed to reducing greenhouse gas emissions and achieving carbon neutrality by 2050. The plan integrates an increase in liquefied natural gas (LNG) imports, an extensive carbon capture project, and the development of electric vehicle infrastructure.
Baker Hughes recorded revenues of $6.9 billion in Q3 2024, with a 23% increase in adjusted EBITDA and a net income of $766 million, confirming the strength of its performance in an uncertain economic environment.
The Russian Deputy Prime Minister announces that the decision to increase oil production by OPEC+ in December remains uncertain, due to market fluctuations and global demand.
China's lower export quotas for LSFO led to an increase in imports from Singapore, stabilizing the Asian market despite increased supply from the West.
Agnès Pannier-Runacher, now head of the French Ministry of Ecology and Energy, plays a key role in implementing the national energy strategy, while defending the interests of French nuclear power at European level.
Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.
Kuwait Petroleum Corporation and QatarEnergy sign a second contract for the delivery of 3 million tonnes of LNG per year, in response to Kuwait's growing energy demand.
Global oil reserves remain stable at 1,536 billion barrels, posing a challenge in the face of growing demand without rapid electrification of transport.
KBR has been chosen by Kuwait Oil Company to develop a national master plan aimed at producing 17GW of renewable energy and 25GW of green hydrogen by 2050.
