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    China's much anticipated oil demand revival will likely prompt the country to keep more barrels at home this year -- a trend that could lead to a slump in clean oil product exports from Asia's biggest oil consumer toward the later part of 2023, sources told S&P Global Commodity Insights. Although Chinese refiners are holding plentiful export quotas now, analysts... [...]

    Libya's state-owned National Oil Corp. announced a new partnership with Italy's Eni on Jan. 28 to develop two plots with expected natural gas reserves of 6 trillion cubic feet and an estimated production capacity of 750 million cf/d for 25 years The agreement is the first of its kind in Libya since at least 25 years ago, NOC said in... [...]

    Republicans in the US House of Representatives Jan. 27 pushed through legislation tethering releases of crude oil from the US Strategic Petroleum Reserve to the creation of a plan to boost oil and gas production on federal lands. Republicans framed the Strategic Production Response Act (H.R. 21) as a means to end the Biden administration's politically motivated abuse of the... [...]

    Global LNG logistics company Atlantic Gulf & Pacific International Holdings hopes to start operations at its first Philippines LNG import terminal between March and May while aiming to expand its presence globally, President AG&P LNG Terminals and Logistics, Karthik Sathyamoorthy, said. "We are going through a very interesting time within the LNG space ... we are a demand creator [developing... [...]

    China's exports of both low and high sulfur fuel oil fell 6% year on year to total 18.04 million mt in 2022, according to data from the General Administration of Customs Jan. 28, as bunker demand in the downstream market declined. Exports rose 5% month on month but fell 5.6% on the year to 1.23 million mt in December 2022,... [...]

    Norway's ramp-up of production from the flagship Johan Sverdrup oil development is finding a demand sweet spot thanks to improving global sentiment, North Sea production issues, and sanctions against Russia's Urals crude oil. First brought on stream in October 2019, the 2.7-billion-barrel Sverdrup field was considered an outlier, the crude being a heavier, more sour grade than the sought-after light... [...]

    The US Department of Energy Jan. 26 awarded universities and private companies a combined total of $118 million to pursue 17 projects aimed at boosting the production of biofuels seen as key to reducing emissions in the transportation and manufacturing sectors. The projects focus on advancing biorefinery development in an effort to make energy-dense, advanced biofuels more plentiful in the... [...]

    The UAE's Neutral Fuels Holdings Ltd. doubled its biofuel sales last year as the shipping industry, along with road vehicles and power generation, looks to reduce its traditional reliance on fossil fuels in the drive to curb emissions, the company's founder Karl W. Feilder told S&P Global Commodity Insights on Jan. 26. Demand for Neutral Fuels products is growing even... [...]

    Bunkering for ships calling at the UAE's Port of Fujairah has resumed and the port is open despite forecast for more unstable weather, sources told S&P Global Commodity Insights Jan. 26. Bunkering "has started but weather [is] not good so could be suspended again," a source said, asking not to be identified. "Port operations continue as usual and necessary precautions... [...]

    US refiners are expected to report elevated earnings for Q4 2022, which are spilling over into 2023 as demand remains healthy amid anemic inventories that are expected to fall on heavier-than-2022 turnarounds, an analysis from S&P Global Commodity Insights showed Jan. 25. "Refiners are looking at an excellent Q4 '22 thanks to extremely robust diesel cracks, widening heavy crude differentials,... [...]

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