OMV: Higher net profit despite lower gas sales
06/05/2024
OMV, the Austrian oil and gas group, reported a 20% increase in net profit for the first quarter of 2024, despite a notable drop in gas prices and overall demand.
OMV, the Austrian oil and gas group, reported a 20% increase in net profit for the first quarter of 2024, despite a notable drop in gas prices and overall demand.
U.S. LNG exporters continue to favor the Cape of Good Hope route over the Panama Canal for their Asian shipments, despite the addition of a slot through the Panama Canal.
In March, a record number of US LNG cargoes reached Asia via the Cape of Good Hope, bypassing the Panama and Suez canals.
Washington is targeting the Iranian network to curb the financing of regional activities via the trade in energy products.
Guangdong Petrochemical, China’s state-owned refinery, is importing Venezuelan crude directly for the first time, exploiting the easing of sanctions.
The drought has altered US LNG export routes to Asia, with an increase in routes via the Cape of Good Hope due to tensions in the Red Sea.
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