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LNG News for November 7, 2021: #Qatar Orders 6 Gas Ships - Bloomberg

LNG News for November 7, 2021: Qatar Orders 6 Gas Ships - Bloomberg Qatar has ordered six liquefied natural gas ships from South Korea as it pushes ahead with a multi-billion dollar project to boost production of the fuel.The world’s biggest LNG exporter is buying four vessels from Daewoo Shipbuilding & Marine Engineering and two from Samsung Heavy Industries, state producer Qatar Energy said Sunday. They’re the first batch of orders under a $19 billion deal signed between Qatar and Korean shi...
Tags: Travel, South Korea, Europe, Japan, China, Samsung, Qatar, Bloomberg, International Energy Agency, Persian Gulf, Samsung Heavy Industries, Rupert Neil Bumfrey, Qatar Energy, Gas Ships Bloomberg Qatar, Daewoo Shipbuilding Marine Engineering, Daewoo Hyundai Heavy Industries Co


Oil prices rise, as Saudis dismiss supply concerns as demand grows | Reuters

Oil prices rise, as Saudis dismiss supply concerns as demand grows | Reuters Oil prices rose 1% on Thursday after top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply and the International Energy Agency said surging natural gas prices could boost demand for oil among power generators.The market largely shrugged off an unexpectedly large increase in U.S. crude inventories as refiners cut production in a generally slower period for those facilities.Brent crude futures settle...
Tags: Travel, Saudi Arabia, Opec, IEA, Reuters, Reuters Oil, International Energy Agency, Rupert Neil Bumfrey


Oil prices trim gains after big build in U.S. stocks | Reuters

Oil prices trim gains after big build in U.S. stocks | Reuters Oil prices rose on Thursday after top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply and the International Energy Agency said surging natural gas prices could boost demand for oil among power generators.The market trimmed gains after U.S. crude inventories rose more than anticipated as refiners cut production in a generally slower period for those facilities.Brent crude futures gained 42 cents, or 0.5%, to $8...
Tags: Travel, Saudi Arabia, Opec, Reuters, Reuters Oil, International Energy Agency, Rupert Neil Bumfrey


MIDEAST STOCKS Most Gulf exchanges track oil prices higher | Reuters

MIDEAST STOCKS Most Gulf exchanges track oil prices higher | Reuters Most stock markets in the Gulf ended higher on Thursday amid rising oil prices, with oil behemoth Saudi Aramco nearing a $2 trillion valuation.Oil prices rose by about 1% after the International Energy Agency said that record natural gas prices would boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply.Saudi Arabia's benchmark index (.TASI) closed 0.6% higher, with Yanbu Natio...
Tags: Travel, Europe, Saudi Arabia, Opec, Egypt, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Saudi Aramco, International Energy Agency, Adi, Middle East Africa, Tasi, Rupert Neil Bumfrey


Oil prices climb on upgrade to IEA demand forecast | Reuters

Oil prices climb on upgrade to IEA demand forecast | Reuters Oil prices rose by about 1% on Thursday after the International Energy Agency said that record natural gas prices would boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply.Brent crude futures gained 89 cents, or 1.1%, to $84.07 a barrel by 1204 GMT after falling 0.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures climbed 87 cents, or 1.1%, to $81.31, more than recouping t...
Tags: Travel, Saudi Arabia, Opec, IEA, Reuters, Reuters Oil, International Energy Agency, Rupert Neil Bumfrey


IEA World Energy Outlook 2021: Throw Money, But Aim Carefully - Bloomberg

IEA World Energy Outlook 2021: Throw Money, But Aim Carefully - Bloomberg The recent jump in energy prices has been portrayed as an act of retribution by fossil fuels after years of low investment. The International Energy Agency’s latest long-term outlook trumps that: We’re underinvesting in energy, period.Rather than some neglected soul seeking vengeance, the global energy system might better be thought of as a particularly confused, and volatile, tween. It’s a phase we’re all going through ...
Tags: Travel, Opec, IEA, International Energy Agency, Rupert Neil Bumfrey, COVID, IEA World Energy, Aim Carefully Bloomberg


OPEC forecasts oil demand rebound before post-2035 plateau | Reuters

OPEC forecasts oil demand rebound before post-2035 plateau | Reuters Oil demand will grow sharply in the next few years as economies recover from the pandemic, OPEC forecast on Tuesday, adding that the world needs to keep investing in production to avert a crunch despite an energy transition.The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency, which in a May report said investors should not fund new oil projects if the worl...
Tags: Travel, Opec, Reuters, Reuters Oil, International Energy Agency, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey, Mohammad Barkindo


Oil scales six-week high as Storm Nicholas hits U.S. Gulf | Reuters

Oil scales six-week high as Storm Nicholas hits U.S. Gulf | Reuters Oil prices hit a six-week high on Tuesday as Hurricane Nicholas weakened into a tropical storm, bringing the threat of widespread floods and power outages to Texas and Louisiana, and as the International Energy Agency forecast a big demand rebound for the rest of the year.Brent crude was up 55 cents, or 0.8%, at $74.06 a barrel by 1334 GMT after hitting a session high of $74.28. U.S. West Texas Intermediate (WTI) crude climbed...
Tags: Travel, Texas, Louisiana, Gulf, International Energy Agency, Nicholas, Rupert Neil Bumfrey, U S Gulf, Hurricane Nicholas


Opec member urges oil producers to focus more on renewable energy | Fossil fuels | The Guardian

Opec member urges oil producers to focus more on renewable energy | Fossil fuels | The Guardian The finance minister of Iraq, one of the founding members of the global oil cartel Opec, has made an unprecedented call to fellow oil producers to move away from fossil fuel dependency and into renewable energy, ahead of a key Opec meeting.Ali Allawi, who is also the deputy prime minister of Iraq, has written in the Guardian to urge oil producers to pursue “an economic renewal focused on environment...
Tags: Travel, Iraq, Opec, International Energy Agency, Fatih Birol, Rupert Neil Bumfrey, Ali Allawi


Oil dips, little changed on week despite weaker demand forecasts | Reuters

Oil dips, little changed on week despite weaker demand forecasts | Reuters Oil prices dipped on Friday and ended the week little changed after weathering concerns from banks and the International Energy Agency that the spread of coronavirus variants is slowing oil demand.Global oil benchmark Brent crude settled down 72 cents, or 1%, at $70.59 a barrel for the session.U.S. West Intermediate crude settled down 65 cents at $68.44.For the week, Brent fell less than 1%, after dropping 6% last week,...


Oil holds above $70 despite forecasts for weaker demand growth | Reuters

Oil holds above $70 despite forecasts for weaker demand growth | Reuters The Brent benchmark oil price held above $70 a barrel on Friday, broadly shrugging off a warning from the International Energy Agency that the spread of coronavirus variants is slowing oil demand growth.Brent crude was down 18 cents, or 0.2%, at $71.13 a barrel by 1332 GMT. U.S. crude lost 14 cents, or 0.2%, to trade at $68.95. Over the week the benchmarks are up less than 1%.The IEA this week highlighted that growth in d...
Tags: Travel, IEA, Reuters, International Energy Agency, Rupert Neil Bumfrey


Oil extends losses as Delta variant slows demand recovery | Reuters

Oil extends losses as Delta variant slows demand recovery | Reuters Oil prices fell for a second day on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.Brent crude was down 58 cents, or 0.8%, at $70.73 a barrel by 0630 GMT, after dropping 13 cents in the previous session.U.S. crude was off by 65 cents, or 0.9%, at $68.44 a barrel, having fa...
Tags: Travel, Asia Pacific, Delta, IEA, Reuters, Reuters Oil, International Energy Agency, Rupert Neil Bumfrey, OANDA, Jeffrey Halley


OPEC sticks to oil demand view despite virus, sees more U.S. shale coming | Reuters

OPEC sticks to oil demand view despite virus, sees more U.S. shale coming | Reuters OPEC on Thursday stuck to its prediction of a strong recovery in world oil demand in 2021 and further growth next year, despite concerns about the spread of the Delta coronavirus variant that has weighed on prices.The Organization of the Petroleum Exporting Countries in a monthly report also raised its forecast of supply from rivals, including U.S. shale producers, next year, a potential headwind for the effort...
Tags: Travel, Opec, Reuters, International Energy Agency, Organization of the Petroleum Exporting Countries, Reuters OPEC, Rupert Neil Bumfrey


IEA Cuts Oil Demand Outlook on Virus, Sees New Surplus in 2022 - Bloomberg

IEA Cuts Oil Demand Outlook on Virus, Sees New Surplus in 2022 - Bloomberg The International Energy Agency cut forecasts for global oil demand “sharply” for the rest of this year as the resurgent pandemic hits major consumers, and predicted a new surplus in 2022.It’s a marked reversal for the Paris-based agency, which just a month ago was urging the OPEC+ alliance to open the taps or risk a damaging spike in prices. The oil cartel heeded calls to hike supply, which is now arriving just as cons...
Tags: Travel, Opec, Bloomberg, Paris, IEA, International Energy Agency, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, IEA Cuts Oil Demand Outlook


Column - IEA’s roadmap shows difficult journey to net zero: Kemp | Reuters

Column-IEA’s roadmap shows difficult journey to net zero: Kemp | Reuters Polarised responses to the International Energy Agency report on achieving net zero emissions by 2050 reveal the enormous challenges of the goal and differences about whether it is realistic in the timeframe. Like the Rorschach inkblot test, reactions to the report reveal more about the reader’s own views on how energy and climate systems change than about the technical contents of the report itself.Reducing net emissio...
Tags: Travel, IEA, Reuters, International Energy Agency, Kemp, Rupert Neil Bumfrey


Top Indian Oil Refiner Betting on Robust Future for Fossil Fuels - Bloomberg

Top Indian Oil Refiner Betting on Robust Future for Fossil Fuels - Bloomberg India’s biggest oil refiner says fossil fuels will continue to be key part of the nation’s energy mix as it embarks on a $13 billion expansion.Indian Oil Corp. plans to increase its crude processing capacity by a third over the next five years to increase production of gasoline and diesel, along with petrochemicals, Chairman Shrikant Madhav Vaidya said in an interview. That will give the company the capability to refi...
Tags: Travel, China, India, Reliance, Saudi Aramco, International Energy Agency, Reliance Industries Ltd, Indian Oil Corp, Rupert Neil Bumfrey, Essar Oil Ltd, Rosneft PJSC, Vaidya, Bloomberg India, Shrikant Madhav Vaidya, Nayara Energy Ltd


OPEC+ Compromise Deal Still Favors #SaudiArabia and #Russia - Bloomberg

OPEC+ Compromise Deal Still Favors Saudi Arabia and Russia - Bloomberg Saudi Arabia and Russia clinched a deal for an OPEC+ production increase by partly submitting to the United Arab Emirates’ demands for a more generous quota. But the compromise still leaves Riyadh and Moscow on top.Of all the adjustments agreed on Sunday to the cartel’s baselines -- the level from which each member’s cuts are measured -- the two largest OPEC+ members awarded themselves the biggest increases.While the UAE’s ...
Tags: Travel, Saudi Arabia, Russia, Opec, United Arab Emirates, Moscow, Uae, Riyadh, International Energy Agency, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Russia Bloomberg, Russia Bloomberg Saudi Arabia


OPEC+ Calls Meeting for Sunday After Progress Toward Deal - Bloomberg

OPEC+ Calls Meeting for Sunday After Progress Toward Deal - Bloomberg OPEC+ has called a meeting on Sunday, delegates said, after the group made significant progress toward resolving a standoff with the United Arab Emirates that had blocked a deal to boost output.The online conference of ministers is scheduled for 12 p.m. Vienna time, although one delegate cautioned that not every minister had yet confirmed attendance. Ministers from Saudi Arabia, Kuwait, the UAE and Oman met online on Saturda...
Tags: Travel, New York, Iraq, Opec, Vienna, United Arab Emirates, Oman, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Organization of Petroleum Exporting Countries, Saudi Arabia Kuwait, Rupert Neil Bumfrey, UAE Baghdad


#UAE Closes In on Oil Output Deal to Resolve Standoff With OPEC+ - Bloomberg

UAE Closes In on Oil Output Deal to Resolve Standoff With OPEC+ - Bloomberg The United Arab Emirates has made significant progress in resolving its standoff with OPEC+, nearing a compromise that could give the country a more generous output limit next year and allow the whole group to pump more oil in the coming months.The talks, involving the UAE and Saudi Arabia, are still ongoing and any deal would need the support of other OPEC+ nations, according to delegates familiar with the discussions...
Tags: Travel, Saudi Arabia, Iraq, Opec, United Arab Emirates, Brent, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, New York Last, OPEC Bloomberg, UAE Baghdad


Oil rises nearly 2% as investors size up tight market | Reuters

Oil rises nearly 2% as investors size up tight market | Reuters Oil prices gained almost 2% on Tuesday after the International Energy Agency said the market should expect tighter supply for now due to disagreements among major producers over how much additional crude to ship worldwide.The market has been generally stronger as demand has rebounded and the Organization of the Petroleum Exporting Countries and their allies have held millions of barrels of supply from the market. OPEC+, as the gro...
Tags: Travel, Japan, Opec, Paris, IEA, Reuters, Reuters Oil, United States Europe, International Energy Agency, Organization of the Petroleum Exporting Countries, Mizuho, Rupert Neil Bumfrey, Bob Yawger


Higher Oil Income Will Boost #Saudi Saving Not Spending, IMF Says - Bloomberg

Higher Oil Income Will Boost Saudi Saving Not Spending, IMF Says - Bloomberg Saudi Arabia is likely to use surplus oil revenue to rebuild reserves, breaking with its historical practice of boosting spending when crude prices rise, according to the International Monetary Fund.“The message that we very strongly got was that the expenditure path set out in the budget will be stuck to, regardless of where oil prices go to, which I think is the right thing to do,” Tim Callen, the IMF mission chief ...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, International Monetary Fund, Imf, International Energy Agency, Callen, Rupert Neil Bumfrey, Tim Callen, Bloomberg Saudi Arabia


Oil Survey Reveals a Divide on When Global Demand Will Peak - Bloomberg

Oil Survey Reveals a Divide on When Global Demand Will Peak - Bloomberg The accelerating shift to cleaner energy poses a challenge for global oil demand in the next decade, according to a Bloomberg Intelligence survey, but responses were divided as to whether consumption will return to pre-pandemic highs.About 39% of respondents see demand slightly above the pre-Covid level of 100 million barrels a day in 2030, while 30% expect consumption to fall short of that mark. With fuel efficiency, elec...
Tags: Travel, Opec, Bloomberg, Goldman Sachs Group Inc, BP Plc, International Energy Agency, Bloomberg Intelligence, Rupert Neil Bumfrey


Crude Oil Price: Russia Weighs Proposing OPEC+ Output Hike at Next Week’s Meet - Bloomberg

Crude Oil Price: Russia Weighs Proposing OPEC+ Output Hike at Next Week’s Meet - Bloomberg Russia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter.Moscow expects the current global oil-output deficit to persist in the medium term, two officials said, asking not to be named because the discussions are not public. The country’s final position going into th...
Tags: Travel, Saudi Arabia, Russia, Opec, Moscow, Goldman Sachs, International Energy Agency, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Prince Abdulaziz Bin Salman, Meet Bloomberg, Iran Opec, Meet Bloomberg Russia


Saudis Say Cautious Approach to Restoring OPEC+ Output Paid Off - Bloomberg

Saudis Say Cautious Approach to Restoring OPEC+ Output Paid Off - Bloomberg Saudi Arabia’s cautious approach to reviving OPEC+ oil output has been proved correct, said Energy Minister Prince Abdulaziz bin Salman.After a year of oil market turmoil due to the coronavirus pandemic, fuel consumption is seeing robust growth and the International Energy Agency is calling for the cartel to boost supplies. Yet, in the minister’s view “we still are not out of the woods.”“Many claim that I’m excessively...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, International Energy Agency, Organization of Petroleum Exporting Countries, Abdulaziz, Rupert Neil Bumfrey, Abdulaziz bin Salman, Bloomberg Saudi Arabia


Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg

Most Middle Eastern Stocks Climb as Oil Extends Gains: Inside EM - Bloomberg Most equities markets in the Middle East extended gains on Sunday, following another positive week for crude prices.Equities gauges in Saudi Arabia, Bahrain, Oman, Kuwait, Qatar and Israel advanced as much as 0.8%, while those in Dubai and Abu Dhabi slipped less than 0.1%.Oil, the main export for Gulf countries, posted its third straight weekly rise on improving demand, with the International Energy Agency warning the...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Middle East, Dubai, Mecca, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Bloomberg Intelligence, Jabal Omar, Rupert Neil Bumfrey, Edmond Christou


#Saudi Energy Minister Prince Abdulaziz bin Salman to Speak at Robin Hood Forum - Bloomberg

Saudi Energy Minister Prince Abdulaziz bin Salman to Speak at Robin Hood Forum - Bloomberg For the past year, Saudi Energy Minister Prince Abdulaziz bin Salman has fought a war of words with oil speculators. Now, he’s taking his message to the heart of Wall Street.Prince Abdulaziz is scheduled to speak June 16 at the Robin Hood Investors Conference, a red-carpet event that brings together luminaries of the U.S. hedge-fund industry such as Paul Tudor Jones, Ray Dalio and Stanley Druckenmiller, ...
Tags: Travel, Saudi Arabia, Opec, Riyadh, Saudi Aramco, International Energy Agency, Abdulaziz, Rupert Neil Bumfrey, Stanley Druckenmiller, Tesla Inc, Abdulaziz bin Salman, Saudi Energy, Cathie Wood, Robin Hood Forum Bloomberg, Paul Tudor Jones Ray Dalio, La La LandFor


Oil Poised for Third Weekly Gain as IEA Sees Need for More Crude - Bloomberg

Oil Poised for Third Weekly Gain as IEA Sees Need for More Crude - Bloomberg PRICES West Texas Intermediate for July delivery rose 12 cents to $70.41 a barrel at 8:53 a.m. in New YorkPrices are up 1.2% this weekBrent for August settlement advanced 7 cents to $72.59, and are 1% higher for the week Oil headed for a third straight weekly gain on signs of improving demand, with the International Energy Agency warning that the market will need extra supply next year.Futures in New York h...
Tags: Travel, Asia, Europe, New York, Opec, Bloomberg, IEA, Latin America, International Energy Agency, Rupert Neil Bumfrey


#SaudiArabia's Oil Outlook Is Less Realistic Than the IEA's - Bloomberg

Saudi Arabia's Oil Outlook Is Less Realistic Than the IEA's - Bloomberg Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, a realist.   Photographer: Donat Sorokin/TASS/Getty Images Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, is a realist. This week, he compared the International Energy Agency’s recent net-zero emissions analysis to “La La Land.” Because a world in which the half-brother of an autocratic prince attempts to manipulate the price of a...
Tags: Travel, Saudi Arabia, Los Angeles, Bloomberg, IEA, International Energy Agency, Rupert Neil Bumfrey, Rystad Energy, Prince Abdulaziz Bin Salman, Abdulaziz bin Salman, Donat Sorokin, Bloomberg Saudi Arabian Energy


Petrostates See Dire Consequences If World Rejects Oil Too Fast - Bloomberg

Petrostates See Dire Consequences If World Rejects Oil Too Fast - Bloomberg The world’s largest petrostates rejected calls for a rapid shift away from oil and gas, warning that starving the industry of investment would harm the global economy.If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices wi...
Tags: Travel, Saudi Arabia, Russia, Qatar, Bloomberg, IEA, International Energy Agency, Novak, Alexander Novak, Rupert Neil Bumfrey, St Petersburg International Economic Forum, Saad Sherida Al Kaabi, Abdulaziz bin Salman, Al Kaabi, World Rejects Oil Too Fast Bloomberg


Averting Climate Crisis Means No New Oil or Gas Fields, IEA Says - Bloomberg

Averting Climate Crisis Means No New Oil or Gas Fields, IEA Says - Bloomberg The world has a choice -- stop developing new oil, gas and coal fields today or face a dangerous rise in global temperatures.That’s the bold assessment from the International Energy Agency, the organization that has spent four decades working to secure oil supplies for industrialized nations. In its new road map for achieving net-zero global carbon emissions by 2050, the IEA laid out in stark terms what the planet mus...
Tags: Travel, Bloomberg, IEA, International Energy Agency, Fatih Birol, Rupert Neil Bumfrey



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