Storage

Europe's response to the Iran war energy crunch

Central to the EU proposals is a focus on reducing reliance on oil and gas, to cushion against future fossil fuel supply disruptions and price spikes.

IEA ready to further tap global oil reserves if needed, chief says

The 32-member IEA agreed last month to release 400 million barrels of oil from reserves, the largest-ever coordinated release, in a bid to calm oil markets. The U.S., the world's largest oil and gas producer, agreed to release 172 million barrels from its Strategic Petroleum Reserve.

IEA announces record release of strategic stocks in response to Iran war oil price surge

The IEA said the release had been backed unanimously by 32 member countries, the sixth such move it has made since its creation in the 1970s.

Glenfarne’s Texas LNG and Kiewit execute lump-sum turnkey EPC contract for 4-MMtpy LNG project

Thailand to boost fuel reserves, bids to secure LNG amid Iran crisis

S3 sets a new benchmark for European onshore and transition seismic in landmark CCS survey

Over the coming years, the project will assess the potential to establish a full-scale onshore CO₂ storage facility across an area of approximately 500 km², with the ambition of becoming operational as early as 2030.

EIA: U.S. crude inventories rise the most in 3 yrs as refinery demand slips, imports increase

U.S. crude inventories rose by the most last week since February 2023, as refinery utilization slowed and imports increased, the U.S. Energy Information Administration (EIA) said.

Singapore light distillates stocks hit over 3-yr high on robust imports

Singapore light distillate stocks swelled to the highest level since July 2022 this week amid high supplies of naphtha and gasoline while demand for both products was lower-than-expected.

EIA: U.S. crude stocks increase by most in a year after storm hit refining, exports

U.S. crude stocks rose last week as refining and export activity slowed during a winter storm last month, while domestic output started to recover from the freeze.

GTT receives order from Samsung Heavy Industries for the tank design of two new very large ethane carriers