A spike in power usage from artificial intelligence (AI) data centers could significantly boost natural gas demand in the second half of the decade, analysts at investment banker Tudor Pickering Holt & Co said in a report on Tuesday. As much as 8.5 billion cubic feet per day of natural gas could be...
https://www.hellenicshippingnews.com/ai-boom-to-fuel-natural-gas-demand-in-coming-years-report-says/
The Global Upstream Update is a regular insight produced for global subscribers to our Upstream Service. In this complimentary summary edition, we highlight of some of the most impactful recent changes and events, and what to expect next. Fill in the form for your copy – or read on for a quick...
https://www.hellenicshippingnews.com/whats-new-in-global-upstream/
Japan Gas Association members anticipate limited impact on their liquefied natural gas (LNG) procurement in the event of a blockade in the Strait of Hormuz, but expects gas prices would rise due to higher oil prices, its chairman said on Wednesday. Iran has threatened to close the Strait of Hormuz...
Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report. The growth in gas output and liquefied natural gas (LNG) facilities, which allow tankers to...
Oil steadied on Thursday after settling lower the previous day as signs of retreating fuel demand in the U.S., the world’s biggest oil user, contended with widening conflict risks in the Middle East. This week’s supply report from the U.S. Energy Information Administration (EIA) on Wednesday showed...
Oil prices were moderately lower on Wednesday as worries over conflict in the Middle East eased and business activity in the world’s largest oil consumer slowed, however, a fall in U.S. crude oil inventories put a floor on those losses. Brent crude futures were down 27 cents, or 0.31%, to $88.15 a...
Middle East crude benchmark Dubai gained for a fourth straight session on Wednesday following strong bids from Vitol, Equinor and Mitsui on Platts window. DME Oman rose to $2.65 a barrel above Dubai quotes, the highest premium since October, supported by robust demand amid a tight supply of medium,...
US sanctions on Russian oil and natural gas are working and the US is going to keep tightening sanctions to stymie Russia’s efforts to develop new ways to export fossil fuels, US Assistant Secretary of State for Energy Resources Geoffrey Pyatt said April 23. The Biden administration’s sanctions are...
Middle East crude benchmark Dubai rose for a third straight session on Tuesday, buoyed by tight supply of heavier oil. Spot premiums for Upper Zakum crude continued to climb amid tight supply of the Abu Dhabi grade. Trafigura bought a June-loading Upper Zakum crude cargo from Unipec at $2.65 a...
European oil refinery output fell 4% in March from the previous month to 9.457 million barrels per day (bpd), but was nearly 1% higher than the same time last year, Euroilstock data showed on Monday. Total crude intake was 9.443 million bpd last month, 2.7% lower than in February, but 5.4% higher...
https://www.hellenicshippingnews.com/europes-oil-refinery-output-falls-in-march-euroilstock-says/