OPEC+ Delays Meeting to Discuss Oil Output Cuts
OPEC+ has postponed its ministerial meeting from November 26 to November 30, as producers struggled to agree on production levels which will lead to potential reductions, according to Reuters.
News / International
Canada to Finance INC in CCS, Green Technologies
Canada's Fall Economic Statement (FES) has announced that the country will finance investment tax credits (ITCs) for carbon capture and storage (CCS) and net-zero energy technologies. This move followed the recently announced subsidies meant to attract more green investment.
Indonesia to Invest $20B in Decarbonization
Indonesia has launched its Comprehensive Investment and Policy Plan (CIPP) to mobilize $20 billion in financing pledged by global lenders, including the United States and Japan.
Nigeria, Germany Sign $500M Renewable Energy, Gas Export Deals
Nigerian and German companies have signed two accords in Berlin, further strengthening economic ties between the two nations.
Oman LNG Signs Nine-Year Deal with bp
Oman's liquefied natural gas (LNG) company Oman LNG has announced a major deal with bp, selling approximately 1 million tons per year (mtpa) of LNG for nine years starting in 2026.
Iran to Increase Oil Production to 3.6 mmbbl/d
Iran plans to increase its oil production to reach 3.6 million barrels per day (mmbbl/d) by the end of the current Iranian calendar year, which concludes on March 20, 2024, said Iran’s oil minister Javad Owji.
TotalEnergies Completes Sale of Canadian Oil Sands Assets
TotalEnergies has announced the completion of the sale of its shares in TotalEnergies EP Canada Ltd. to Suncor, including the company's participation in the Fort Hills oil sands asset and associated midstream commitments.
ADNOC, Santos to Develop Global CCS Platform
ADNOC and Australian oil and gas firm Santos Limited have announced a strategic collaboration agreement (SCA) that paves the way for the potential development of a joint global carbon management platform. This platform aims to support the decarbonization efforts of customers across the Asia-Pacific region.
Venezuela to Close License for Offshore Gas Field Development
Venezuela is close to approving a license allowing Shell and the National Gas Company of Trinidad and Tobago to develop offshore natural gas field and export its production to the Caribbean country.
China Resumes Adding to Crude Oil Inventories
China, the world's largest crude oil importer, has resumed adding to its crude oil inventories in October. This comes as refinery processing declined from a record high and imports saw a slight increase compared to September, according to Reuters.
