Energy Prices
Global oil markets likely to face large supply deficits soon, says report
Despite expected production increases, global oil markets are likely to face a supply deficit as 2024 progresses, continuing into 2025.
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Deal News
Temasek nears deal to divest Pavilion Energy’s LNG assets to Shell
Temasek is nearing the completion of a deal to sell certain assets of its LNG trading company Pavilion Energy to Shell, reported Reuters.
Company News
Pembina Pipeline nears investment decision on Cedar LNG project
Pembina Pipeline is planning to make a FID for the Cedar LNG project in British Columbia, Canada within the next two weeks.
Contract News
ADNOC finalises FID for Ruwais LNG project, awards $5.5bn EPC contractsÂ
ADNOC has taken the final investment decision (FID) for a new liquefied natural gas (LNG) export terminal situated in Al Ruwais, Abu Dhabi.Â
Analyst Comment
FSU at the forefront of global urea capacity additions by 2030
The FSU is expected to add a capacity of 17.80mtpa from 17 new build planned and announced urea projects.
Contract News
Uniper ceases gas supply contracts with Gazprom ExportÂ
German energy company Uniper has officially terminated its gas supply contracts with Gazprom Export, a unit of Russian gas major Gazprom.Â
Analyst Comment
Asia set to spearhead global butadiene capacity additions by 2028
Global butadiene capacity is poised to see considerable growth over the next four years, potentially increasing from 20.47 million tonnes per annum (mtpa) in 2023 to 26.95mtpa in 2028, registering a total growth of 31.6%.
Industry News
Global oil demand will peak by 2030, then supply will exceed demand, says IEAÂ
The energy body states that non-OPEC+ producers are leading the increase in global production capacity to satisfy this projected demand.
EU
EU ponders sanctions for Russian shipping giant Sovcomflot
The EU is considering sanctions on Russian shipping giant Sovcomflot, to limit the country’s oil-based revenue as its war with Ukraine rages
Deal News
Eni divests 10% stake in Saipem for €393mÂ
Italian oil and gas company Eni has divested a 10% interest in oilfield services provider Saipem in a deal valued at €393m. Â