Markets

Top executives from leading energy corporations, including Shell, Saudi Aramco, ExxonMobil, bp, and Chevron, convened at the CERAWeek by S&P Global conference to address the evolving dynamics of the global energy landscape.

The oil industry is undergoing a transformation propelled by the adoption of digital technologies, particularly artificial intelligence (AI), which is revolutionizing operations and driving efficiency.

The South Pacific country's Associate Energy Minister, Shane Jones, spearheads an assessment to explore the feasibility of reinstating refining operations at the Marsden Point fuel import terminal.

A surge in American crude exports is reshaping the dynamics of the global oil market, particularly impacting Europe.

More attacks on Russian refineries by Ukrainian drones, an unexpected crude stockdraw in the US, and an IEA forecast for a tighter global oil market pushed up futures prices for benchmark crudes.

Saudi Arabia's state-owned firm, a major player in the global oil market, announced a reduction in its supply of heavier crude oil to Asian markets for April.

Amid heightened US sanctions on Russian crude, China has strategically increased its purchases of Sokol crude, taking advantage of India's reluctance to buy.

Steering through two crucial maritime passages, the Red Sea and the Panama Canal, has become increasingly arduous for shippers, with significant ramifications for the energy industry.

The UK-based supermajor is contemplating a shift in its emission reduction strategy, aiming to become a net-zero emissions energy business by 2050.

OPEC maintains its optimistic stance on oil demand growth, projecting a steady increase for this year and beyond, driven primarily by China, India, and the Middle East.