Category: Highlights

As many as 35 major cyberattacks on energy and oil infrastructure have taken place since 2017, making up one-third of all cyberattack incidents of the past five years, data from the S&P Global Platts Oil Security Sentinel research project showed on Friday. Since 2017, the U.S. has been the most targeted country, followed by the UK and Saudi Arabia, according to S&P Global Platts Oil Security Sentinel. Several high-profile cyberattacks have occurred in the past year alone, including the major ransomware attack on the computer network of the key fuel…

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Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday. A net petroleum importer is a country that imports more crude oil and refined products than the crude and products it exports. While the U.S. has been a net petroleum products exporter for more than a decade, it has always been a net crude oil importer, that…

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Crude oil prices moved slightly higher today after the Energy Information Administration reported a crude oil inventory build of 1.1 million barrels for the week to February 11. This compares with a draw of 4.8 million barrels estimated for the previous week and an estimated 1.076-million-barrel inventory decline for last week as reported by the American Petroleum Institute on Tuesday. In gasoline, the EIA estimated an inventory decline of 1.3 million barrels for the week to February 11, which compared with a draw of 1.6 million barrels for the previous…

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 The ongoing gas crisis is unlikely to subside when the mercury rises as LNG trading companies, Italy-based ENI and Singapore-based GUNVOR, have cancelled their term LNG cargoes, which were scheduled to be delivered in the first and second week of March 2022 respectively. This will be the fourth time when ENI will back out of delivering the term LNG cargo. However, GUNVOR will default for the second time as it earlier defaulted in November 2021. Both the LNG trading companies have emerged as habitual defaulters, which is simply unacceptable,” a…

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Europe is now on the “safe side” with regard to gas supply this winter despite concerns over Russian deliveries, European Commission President Ursula von der Leyen said Feb. 16, amid the continued standoff between Moscow and the West over Ukraine. We have, during the last weeks, looked into all possible disruption scenarios in case Russia decides to partially or completely disrupt gas supplies to the EU,” von der Leyen said. “And I can say today that our models show, with all the measures we have taken, that we are now…

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