Annual oil and gas contracts activity rose 51 percent in disclosed contract value and nine percent in the number of contracts in 2021, GlobalData has revealed. According to a new GlobalData report, the disclosed contract value increased from $115.42 billion in 2020 to $174.21 billion in 2021 and the number of contracts rose from 5,750

It’s never been more expensive to fill up a car in the U.K. The price of gasoline on Tuesday rose to a record 164.98 pence per liter, according to the RAC, the country’s main motoring organization. Diesel hit 176.04 pence, also an all-time high. Since the start of March, both fuels have risen at their

Global energy-related carbon dioxide (CO2) emissions rose by 6% in 2021 to 36.3 billion tonnes, their highest ever level, as the world economy rebounded from the pandemic and relied heavily on coal to power that growth, according to new IEA analysis. The increase in global CO2 emissions of over 2 billion tonnes was the largest

U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Monday, with product supplied nearing 21 million barrels per day (bpd). Overall fuel demand was up 10% year-on-year in December at 20.8 million bpd, its highest since August 2019. Product supplied

62 percent of oil and gas companies are currently either unprofitable or just breaking even. That’s according to the 2022 BDO Energy CFO Outlook Survey, which noted that 2020 represented the costliest year in Chapter 11 bankruptcy filings for oil and gas, surpassing $100 billion of debt from more than 100 companies. The survey found

With global leaders in search of energy solutions that help achieve decarbonisation and enhance energy security, the global hydrogen energy transition market seems to be on track to becoming a major global energy source in its own right with the fuels use gathering momentum. Interest in low carbon hydrogen as a way to accelerate the

As they strain to restore oil production, OPEC and its allies are being left with a diminishing buffer of spare supplies — potentially setting up crude prices for a sizzling summer. With depressed investment and internal unrest hobbling coalition members from Nigeria to Russia, the task of satisfying the vigorous recovery in world fuel consumption

U.S. oil futures are trading above $75 but the yearly reshuffling of billions of dollars of commodity investments are about to trigger a sharp bout of selling. Every January, the world’s two biggest commodities indexes — the GSCI Index and the Bloomberg Commodities Index — reset, spurring a raft of inflows and outflows across commodity

Mounting uncertainty about the energy transition keeps oil and gas companies from spending more Strategic choices in investment in clean energy solutions, responding to the pressure to decarbonize, and portfolio repositioning will be next year’s key themes for all oil and gas companies WoodMackenzie: Companies will allocate more capital to upstream decarbonisation The global upstream

Global oil and gas discoveries in 2021 are on track to hit their lowest full-year level in 75 years should the remainder of December fail to yield any significant finds, Rystad Energy analysis shows. As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent