Annual oil and gas contracts activity rose 51 percent in disclosed contract value and nine percent in the number of contracts in 2021, GlobalData has revealed. According to a new GlobalData report, the disclosed contract value increased from $115.42 billion in 2020 to $174.21 billion in 2021 and the number of contracts rose from 5,750

Kemp: diesel fuel stocks in Europe are at their lowest since 2008. A further rise in diesel prices is expected as production still has to catch up. A crude oil shortage is invariably bad news for those that consume oil products. But when it comes to these products, a diesel shortage has the potential to

Global energy-related carbon dioxide (CO2) emissions rose by 6% in 2021 to 36.3 billion tonnes, their highest ever level, as the world economy rebounded from the pandemic and relied heavily on coal to power that growth, according to new IEA analysis. The increase in global CO2 emissions of over 2 billion tonnes was the largest

U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Monday, with product supplied nearing 21 million barrels per day (bpd). Overall fuel demand was up 10% year-on-year in December at 20.8 million bpd, its highest since August 2019. Product supplied

62 percent of oil and gas companies are currently either unprofitable or just breaking even. That’s according to the 2022 BDO Energy CFO Outlook Survey, which noted that 2020 represented the costliest year in Chapter 11 bankruptcy filings for oil and gas, surpassing $100 billion of debt from more than 100 companies. The survey found

With global leaders in search of energy solutions that help achieve decarbonisation and enhance energy security, the global hydrogen energy transition market seems to be on track to becoming a major global energy source in its own right with the fuels use gathering momentum. Interest in low carbon hydrogen as a way to accelerate the

The crude oil market has been running hot lately and is showing no signs of cooling, based on the latest trading insight from Bloomberg. Traders seem to have largely brushed off any adverse effects the Omicron wave might have on demand for crude and with a good reason: demand on the physical market has remained

U.S. oil futures are trading above $75 but the yearly reshuffling of billions of dollars of commodity investments are about to trigger a sharp bout of selling. Every January, the world’s two biggest commodities indexes — the GSCI Index and the Bloomberg Commodities Index — reset, spurring a raft of inflows and outflows across commodity

Mounting uncertainty about the energy transition keeps oil and gas companies from spending more Strategic choices in investment in clean energy solutions, responding to the pressure to decarbonize, and portfolio repositioning will be next year’s key themes for all oil and gas companies WoodMackenzie: Companies will allocate more capital to upstream decarbonisation The global upstream

A surge in COVID-19 cases and the emergence of the Omicron variant will dent global demand for oil, the International Energy Agency (IEA) said on Tuesday, but the broader picture is one of increasing output set to top demand this month and soar next year. “The surge in new COVID-19 cases is expected to temporarily