The Board of Governors of China’s Asian Infrastructure Investment Bank (AIIB) has approved the application of Iraq to join the Bank. Iraq becomes AIIB’s 51st regional member, bringing the Bank’s approved membership to 105 in total. As a multilateral development bank with the…
China’s oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corporation (CNPC) has said. Last year, the research group,…
Mexico plans to end crude oil exports in 2023 as part of a strategy by the nationalist government of Andres Manuel Lopez Obrador to reach self-sufficiency in the domestic fuels market. Pemex will reduce crude oil exports to 435,000 barrels a day in 2022…
Norwegian offshore vessel owner Havila Shipping has secured a new contract for one of its platform supply vessels (PSVs) with Harbour Energy for operations in the UK. Havila Shipping has announced that a new contract was signed with Harbour Energy for the PSV Havila…
Fortune Business Insights, a market research company, expects the increased number of initiatives to boost production from ageing wells and oil and gas discoveries to drive growth in the global well intervention market. The firm reported that the global well intervention market is set…
In this week’s preview of what to watch in oil and gas markets, Rigzone’s regular energy prognosticators look at the resumption of Iran nuclear discussions, the trend of Covid cases and hospitalisations, holiday air and vehicle miles and more. Read on below to find out…
The European Union can only blame its own policies for record gas prices as some of its members resell cheap Russian gas at much higher prices within the bloc, Russian President Vladimir Putin has said. Mr Putin also called on the EU to approve a new Russian gas route, the…
Oil rose in tandem with equity markets as investors weighed the rapid spread of omicron against signs it may be milder than previous variants. West Texas Intermediate futures surpassed US$75 a barrel on the 27th December for the first time in a month amid…
All of us at Longdown|EIC wish our readers a Merry Christmas and we hope that Covid restrictions do not prevent us from enjoying this special occasion.
The last puzzle piece needed for a complete recovery in oil demand is falling into place with air travel consumption showing the first signs of sustained growth since the pandemic. Implied jet yield at US refineries, or the percentage of crude oil turned into…
