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Saudi Arabia And Iran Reignite The Oil Price War

Green Car Congress

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. a barrel premium over the Dubai/Oman average.

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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Less petroleum demand and the associated lower petroleum product prices encouraged refinery closures, reducing global refining capacity, particularly in the United States, Europe, and Japan. In its June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 million b/d in 2022 and by an additional 1.6

Global 448
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Fusion Fuel Green partners with CCC to develop green hydrogen demonstrator plants in Middle East

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The companies plan to develop demonstrator plants in several countries in the region, namely Oman, Kuwait, and Qatar. Territories that were largely desert in the middle of the 20th century are now thriving oil economies. Until green hydrogen becomes price competitive, it cannot fulfil its promise. Many more will follow.

Fusion 170
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Oxea launches new phthalate-free plasticizer as C8/C10 trimellitate replacement

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C8/C10 trimellitates are predominantly used in this application area, but the supply situation for the natural C8/C10 alcohols from which they are derived is very difficult. This results in continuously increasing prices and unreliable availability for the corresponding plasticizer. Oxea is owned by Oman Oil Company S.A.O.C.

Oman 150
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INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

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Ichthys will develop approximately 3 billion barrels oil equivalent of reserves, including around 500 million barrels of condensate. In delivering this important project into production we will be securing vital long-term energy supply to Japan.Ichthys production volumes represent more than 10% of Japan’s LNG imports at current.

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Oil Prices Running Out Of Reasons To Rally

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Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. percent in intraday trading on Monday, after a report at the end of last week showed another solid build in the US rig count, the tenth consecutive week that the oil industry added rigs back into the field.