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A panel of OPEC+ technical experts agreed to revise down oil-demand estimates for 2021, signaling a more negative view of the market just days before the group decides on production policy.
More information 2021-04-01
Qatar Petroleum will supply China Petroleum & Chemical Corporation (Sinopec) with two million tonnes of LNG every year for a ten-year term.
More information 2021-03-26
The oil demand recovery in Europe, a region that accounts for about 15% of global consumption, looks set to take a fresh hit as the continent struggles to deal with another wave of coronavirus cases that could curb summer travel plans.
More information 2021-03-26
Global oil demand won’t return to pre-pandemic levels until 2023, and growth will be subdued thereafter amid new working habits and a shift away from fossil fuels, the International Energy Agency said.
More information 2021-03-18
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said.
More information 2021-03-12
OPEC downgraded the outlook for demand for its crude over the next two quarters, in keeping with the group’s plans to keep a tight rein on supply.
More information 2021-03-12
The rapid rise in European steel prices stalled at the beginning of February, as the industry took in the latest developments in the Turkish scrap market. The Asian continent was a determining factor as well, as the Chinese New Year’s holiday slowed activities down. This is reported by MEPS International Ltd., the UK-based steel market analysis company.
More information 2021-03-05
H2 Green Steel (“H2GS”) is to build large-scale fossil-free steel plant in the Boden-Luleå region in northern Sweden. The location offers unique conditions for fossil-free steel production. The project includes a giga-scale green hydrogen plant as an integrated part of the steel production facility. Production will begin in 2024 and by 2030, H2GS will have a production capacity of 5 million t/a of high-quality steel. Henrik Henriksson, currently CEO of Scania, will lead the company.
More information 2021-03-05
Trafigura Group sees oil markets firming in the coming months as most of the world emerges from lockdowns and production losses from the recent U.S. deep freeze add to a tighter supply outlook.
More information 2021-02-26
WASHINGTON - Throughout much of its history, the United States has imported more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it has exported. That status changed in 2020. The U.S. Energy Information Administration’s (EIA) February 2021 Short-Term Energy Outlook (STEO) estimates that 2020 marked the first year that the United States exported more petroleum than it imported on an annual basis. However, largely because of declines in domestic crude oil production and corresponding increases in crude oil imports, EIA expects the United States to return to being a net petroleum importer on an annual basis in both 2021 and 2022.
More information 2021-02-19
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