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Global gas consumption in 2023 is forecast to rise by around 1% year on year, with growth being driven by the US, China and some emerging markets in Asia-Pacific, the Gas Exporting Countries Forum said April 5. In its 2023 annual report, the GECF — whose members include gas heavyweights Russia, Qatar and Iran — […]

Nigeria’s plans to scale up its carbon markets are starting to take shape, with the government looking to introduce a carbon tax policy and increase participation in the voluntary space. Vice President Yemi Osinbajo on April 4 asked the Nigeria Sovereign Investment Authority to help the government to develop its national carbon strategy. “The importance

Recently commissioned projects in China and the related increase in production are set to weigh further on Chinese alumina prices, which were already on a downtrend amid aluminum output cuts in Yunnan, industry sources said April 5. Domestic prices in China were largely in deadlock through the first quarter despite smelter curbs in the south

Stockpiles of oil products at the UAE’s Port of Fujairah fell 12.4% in the week ended April 3, led by a plunge in light distillates, according to Fujairah Oil Industry Zone data published April 5. Total inventories fell to 19.197 million barrels, the lowest level since Feb. 13, the FOIZ data provided exclusively to S&P

After a lackluster first quarter, dry bulk market participants are pinning hopes on revival in freight rates, with China’s gradual economic recovery and signs of rebounding embattled property sector likely supporting bulk demand in Q2. Contrary to market expectations, the reopening of the Chinese economy after the pandemic failed to lift the freight market, while

Saudi Arabia, Russia and key OPEC+ allies said April 2 that they plan to make more than 1.6 million b/d of voluntary supply cuts in total, with the bulk of these reductions starting in May and lasting until the end of the year. In separate statements, Saudi Arabia and Russia both said they would cut

A possible fundamental change to how the US Bureau of Land Management oversees federal lands, with an emphasis on building resilience against climate change and preventing biodiversity loss, has put the oil industry on high alert over continued access to public lands for oil and nautral gas leasing. The proposed public lands rule, among other

The Republican-majority US House of Representatives passed a sweeping energy policy and infrastructure permitting bill along party lines March 30, setting the stage for likely changes in the Senate, where the leadership of the majority Democrats has vowed to reject the proposal in its current form. The House voted 225-204 to pass H.R. 1, or

Australia’s newly passed A$15 billion ($10 billion) National Reconstruction Fund will help develop domestic manufacturing, the government said March 30, with the landmark policy set to boost investment in transitioning industry to net zero emissions and promoting green technology, including hydrogen. The Australian parliament passed the National Reconstruction Fund March 29 giving the governing Labor

Eurasian Resources Group plans to “explore where the geology takes it” to build up a portfolio of minerals needed for the energy transition, but is also aware of a rise in resource nationalism in certain jurisdictions, CEO Benedikt Sobotka said in an interview. ERG has been reorganizing its portfolio and growth plans towards energy transition