Oil rose on Tuesday as an attack by the Iran-aligned Houthis on a chemical tanker escalated geopolitical tension in the Middle East, though concerns over excess supply and slowing demand kept a lid on gains. A cruise missile launched from Houthi-controlled Yemen struck a commercial chemical tanker,...
https://www.hellenicshippingnews.com/oil-rises-after-houthi-attack-on-ship-weak-sentiment-weighs/
India will expand its refining capacity by about 22% from the current 253.92 million metric tons per year to meet its growing energy demand, junior oil minister Rameswar Teli said. Data compiled by Centre for High Technology, a technical wing of the federal oil ministry, shows the refining capacity...
https://www.hellenicshippingnews.com/indias-refining-capacity-to-rise-22-by-2028-says-minister/
The average contract price for spot liquefied natural gas (LNG) cargoes for shipment to Japan last month was not disclosed by state-owned Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC surveys spot LNG cargoes bought by Japanese utilities and other importers, excluding...
https://www.hellenicshippingnews.com/japan-spot-lng-contract-price-for-november-not-disclosed/
OPEC’s top Arab energy ministers arrived in Doha on Monday for the 12th Arab Energy Conference as countries clash at the UN’s COP28 climate summit over a possible agreement to phase-out fossil fuels. OPEC Secretary General Haitham Al Ghais in a letter dated Dec. 6 and seen by Reuters urged OPEC...
Middle Eastern benchmarks traded mixed on Monday, with Oman climbing while Dubai and Murban drifted lower, as the spread between Brent- and Dubai-pegged oil narrowed close to parity. A narrower Brent/Dubai differential DUB-EFS-1M could encourage Asian refiners to buy more arbitrage cargoes from the...
China’s top climate diplomat on Saturday said a final agreement on fossil fuels at the United Nations COP28 summit was crucial – even if not perfect – but he declined to say whether the country could agree to eliminating coal, oil and gas entirely. An agreement by the world’s nearly 200 countries...
Carbon capture and storage has emerged as flashpoint at the UN climate conference in Dubai about how big a role it is destined to play in reaching the target of net zero emissions. It has also prompted an unusual and bad-tempered confrontation between senior officials at the International Energy...
OPEC’s top Arab energy ministers arrived in Doha on Monday for the 12th Arab Energy Conference as countries clash at the UN’s COP28 climate summit over a possible agreement to phase-out fossil fuels. OPEC Secretary General Haitham Al Ghais in a letter dated Dec. 6 and seen by Reuters urged OPEC...
Environmental groups urged countries gathered at the COP28 climate summit in Dubai on Friday to stop support for expansion of the global trade in liquefied natural gas (LNG), saying the industry was undermining efforts to contain global warming. More than 250 environmental and community groups...
https://www.hellenicshippingnews.com/green-groups-urge-end-to-lng-expansion-to-stop-climate-chaos/
Ammonia and methanol are key industrial chemicals with strong demand in agriculture, manufacturing, and construction sectors. Conventional ammonia and methanol production processes contribute to carbon emissions. As governments around the world are pursuing various decarbonization strategies, it...