Petroleum Economist
China holds all the cards in Russia’s eastern pivot
The Asian giant sees no reason to rush on energy cooperation
Crucial Brent oil benchmark undergoes metamorphosis
Start of the ‘new’ Brent amid shifting market realities
More CCUS projects reach FID as confidence grows
Policy incentives and rising carbon prices embolden developers as hub model gains traction, IEA says
ExxonMobil to store CO₂ from Linde blue hydrogen complex
The oil major will deposit up to 2.2mn t/yr from the planned $1.8bn facility in Texas
Iraq-Turkey pipeline outlook unclear despite deal
Major issues remain despite agreement between Iraq and Kurdistan
US-Europe crude flow keeps records tumbling
Continued increases in lighter, sweeter US barrels heading across the pond have boosted gasoline supply from European refiners, but for how long can volumes keep rising?
Aker BP joins Nordic CCS push
Independent oil and gas firm targets European emitters after securing Norwegian storage exploration licence
Letter from Caracas: Venezuela and Russia’s fragile oil ties at risk
Moscow’s influence over Caracas uncertain amid upcoming elections and a shift in approach from Washington
Canada signals support for $1bn Heidelberg CCUS project
Government in talks with Germany-based cement maker over proposed project to make Edmonton plant carbon neutral
Idemitsu Kosan to purchase efuels from HIF
The Japanese firm will also co-invest in new efuels facilities and supply captured carbon dioxide
India sees crucial role for oil as it eyes investment
Director general of Fipi oil and gas industry body optimistic on E&P success and foresees a doubling of refining capacity over next ten years
Linde and Heidelberg announce 70,000t/yr CCUS project
The project will capture CO₂ from the Lengfurt cement plant in Germany and process it for use in the manufacturing, chemicals and food industries
BP takes stake in Viking CCS
The project is a ‘leading contender’ for track two sequencing and could take FID by next year
Onyx plans 1.2GW blue hydrogen project
Company plans 2028 commissioning for project sited next to its coal power plant in the port of Rotterdam
Papua LNG set for startup by 2028
But the additional capacity may face heightened competition for market share later this decade
Corporations commit more than $1bn towards carbon removals
JP Morgan, Autodesk, Workday and H&M commit to purchasing combined $100mn of carbon removals via the Frontier initiative by 2030
US industry could see second half of 2023 mirror the first
Top oil forecasters and industry signals at odds over market direction
CCUS: Investing in the foundations for scaling
Progress in the CCUS sector is finally underway thanks to policy support, but moving at the required pace will require more government action and industry partnerships
Opec+ mastering art of targeting prices without targeting prices
Two-speed producer group is now nimble enough to make price floor work
Global gas market reawakened by ‘Russia effect’
Industry takes fresh look at moribund, risky or questionable gas and LNG projects
Europe counts cost of uncoordinated energy strategy
Calls for EU to reflect on gas subsidy bill of €700bn as common purchase mechanism approaches
TotalEnergies deal may be launchpad for Iraq’s energy sector
Gas Growth Integrated Project pivotal to key Opec producer’s longer-term success
Niger to start crude exports by end-2023
The country is on track to more than quintuple its oil production and enter the global export market later this year
Europe’s LNG strategy is better late than never
Infrastructure buildout will give EU better options in 2023 and even more in 2024
India gears up for greater gas use
LNG cargo at Dhamra terminal arrives amid shift to securing supplies and capping prices
Governments aim to unleash cross-border CO₂ trade
Growth of carbon removal and capture sectors creates need for functioning international market linking emitters and storage providers
Salzgitter secures €1bn in government finance for green steel
The first stage of its Salcos decarbonisation programme is due to start operations by end-2025
Innovation accelerates drive to sustainability
For Earth Day we focus on the headway made in recent years to improve sustainability and consider future challenges
WPC 2023 to focus on transtion and net zero
The industry shouldn't shy away from the scale of the challenge of reducing emissions says Dean Tucker, vice-chair and COO of WPC Canada
Climeworks bids for three US DAC hubs
Swiss company targets proposed hubs in Louisiana, California and Northern Great Plains under DoE funding programme
Letter from the US: Biden calls time on petroleum-fuelled vehicles
Rules mandating EV sales will transform the US automotive industry, but there are significant practical and judicial challenges
Oil and gas industry must rebalance energy trilemma
Covid-19 and the war in Ukraine have brought the importance of energy security sharply back into focus
Next oil and gas windfall will come from transition
Ability to attract ESG capital will become key differentiator for energy companies as the transition advances
Opec+ cuts jar with China’s strong buying signals
Beijing likely to be unfazed by move amid growing alliance with Saudi Arabia
Net zero demands huge carbon-capture investment – IEA
Project pipeline implies only a quarter of capacity needed by 2030, IEA says
World Energy Council launches event registration
Countdown to 26th World Energy Congress begins with release of Global Energy Leaders survey
The energy stakes of Turkey’s heated presidential election
Besides fraying democracy, different visions for Turkey as a regional gas hub hang in the balance in a fateful election in May
Higher capex needed for projected oil sands growth
Producers are not necessarily using their cash on oil sands output
Carbon Engineering hits its stride
Canadian DAC firm has received backing from the aviation sector and is accelerating deployment of its technology through a partnership with Occidental subsidiary 1PointFive, CEO Daniel Friedmann tells Carbon Economist
ABB and Pace join forces to lower CCS costs
Partnership’s offering includes use of digital twin technology to model full chain of a CCS system, the companies tell Carbon Economist
Low prices not luring Asian buyers back to LNG
Preferable nuclear and coal options suggest balanced Asian LNG market, at least over the summer
Wintershall hunts for CO₂ storage in Egypt and Argentina
German oil and gas company actively screening potential offshore sites in both countries
A potent US SPR is a national security imperative
Russia’s war against Ukraine has profoundly transformed many elements of the global oil market
Australia’s domestic gas issues threaten exports
And a lack of fresh developments means supply is set to tighten