The replacement of Russian gas in the European energy mix could be challenging in the short term, which will keep gas prices high, but is feasible in the medium term, Fitch Ratings said. The search for alternatives has accelerated due to the Ukrainian crisis and related European sanctions that may lead to supply disruptions or […]
Several commodity markets are starting to price in some geopolitical risk around the growing tension between Russia and Ukraine. There is still plenty of uncertainty over how the situation will evolve, but it is still worthwhile to look at what the potential impact could be should tension boil over into a conflict. A scenario where […]
Bharat Petroleum Corporation Ltd. (BPCL) on Tuesday said it will invest Rs 10,000 crore over the next five years in setting up city gas distribution (CGD) networks in the cities for which it secured licences in the latest bidding round. BPCL’s total committed CGD investment now stands at Rs 22,000 crore. BPCL won licences to […]
Asia is expected to lead the global petrochemical industry capacity growth from new-build and expansion projects by 2030 with 57% share, according to GlobalData, a leading data and analytics company. GlobalData’s report ‘Global Petrochemicals Capacity and Capital Expenditure Outlook, 2021 – 2030 – Asia Leads Global Petrochemical Capacity Additions’, reveals that the total petrochemical capacity […]
Australia’s resources and energy exports continue to surge, latest trade data confirmed, despite the challenges of the past 12 months, Minister for Resources and Water Keith Pitt recently said, pointing to the latest data from the Australian Bureau of Statistics’ International Trade in Goods and Services data for October 2021. “These latest figures confirm again […]
Fitch Ratings has increased its 2022 and 2023 oil price assumptions for Brent and West Texas Intermediate (WTI) benchmarks to reflect improved demand and expectations that OPEC+ will continue to manage supply, at least in the short to medium term. The increased Title Transfer Facility (TTF) gas price assumptions for 2022 and Henry Hub gas […]
State-owned Oil and Natural Gas Corporation (ONGC) has reported 565% rise in standalone net profit at Rs 18,348 crore for the quarter ending September 30, 2021 as it made a one-time tax gain on opting for a lower rate regime. A year ago, ONGC reported net profit of Rs 2,758 crore during the same period. Revenue […]
The world’s most traded commodity got a major boost from the gas crunch in Europe and Asia, prompting forecasters to update their forecasts. One of the most bullish of all observers has been Goldman Sachs, whose commodity analysts have stuck to their price target of $80 for Brent crude regardless of the resurgence of Covid-19 in many key […]
China has discovered a new 900-million-tonne oil and gas field in the Tarim Basin in the northwestern Xinjiang after six years’ intensive exploration, Chinese media quoted China National Petroleum Corporation (CNPC), the country’s largest oil and gas producer, as saying. The well is located around the Manshen No.2 well in Fuman area, a 10,000-square-kilometer area […]
Global investment in energy is set to rebound by nearly 10% in 2021 to USD 1.9 trillion, reversing most of last year’s drop caused the Covid-19 pandemic, but spending on clean energy transitions needs to accelerate much more rapidly to meet climate goals, according to a new report from the International Energy Agency. With energy investment returning […]
