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energy news

OPEC revises oil demand forecast for 2024, cites clean energy shifts

OPEC has revised its forecast for global oil demand, cutting its growth estimate for 2024. In a report released on Tuesday, the Organization of...

MET Group signs EUR 1.1 billion borrowing facility led by ING Bank

Swiss-based MET Group, a leading energy company in Europe, has signed a EUR 1.1 billion Borrowing Base Facility (BBF) for its Sales and Trading segment. The...

Aramco awards over $25 bn in contracts for strategic gas expansion

Aramco has announced the awarding of contracts exceeding $25 billion as part of its strategic plan to expand gas production by over 60 percent...

EIA Projects 8% Increase in Permian Basin Crude Oil Production for 2024

The U.S. Energy Information Administration (EIA) forecasts a significant boost in crude oil production from the Permian Basin, predicting an average output of about...

Capex of energy companies up 10% to $390 bn: EIA

U.S. Energy Information Administration (EIA) has released its Financial Review of the Global Oil and Natural Gas Industry: 2023, indicating capital expenditure increased 10...

Energy Trade Value Between U.S. and Canada Drops in 2023 Amid Falling Prices

The value of energy trade between the United States and Canada decreased in 2023, marking a significant drop from the record levels seen in...

U.S. oil and gas deals hit $51 bn in first-quarter: Enverus

The size of the U.S. oil and gas deals has hit a record $51 billion during the first quarter of 2024, data provider Enverus...

EIA Revises Projections for US Coal Exports Downward

The U.S. Energy Information Administration (EIA) has revised its projections for U.S. coal exports downward, attributing the adjustment to the collapse of the Francis...