BP Pauses Oil Shipments Through Red Sea Amid Fears of Attacks

December 18, 2023

Global oil prices jumped on Monday after the energy giant BP said it had stopped sending tankers through the Red Sea, a vital shipping lane which has become an increasingly dangerous route because of drone and missile attacks targeting merchant ships launched by the Houthi armed group in Yemen. The announcement by BP raised fears […]

Papua New Guinea in advanced talks with Chinese banks to fund its stakes in LNG megaprojects

December 13, 2023

Papua New Guinea’s state-owned petroleum company is in advanced talks with Chinese banks to help fund its stakes in the two major liquefied natural gas (LNG) projects in the country, a senior executive said on Monday. Kumul Petroleum is holding talks with banks in the U.S., Europe, and Australia, but its managing director Wapu Sonk […]

Arab OPEC ministers meet in Doha as COP28 discusses phasing out oil and gas

December 11, 2023

OPEC’s top Arab energy ministers arrived in Doha on Monday for the 12th Arab Energy Conference as countries clash at the UN’s COP28 climate summit over a possible agreement to phase-out fossil fuels. OPEC Secretary General Haitham Al Ghais in a letter dated Dec. 6 and seen by Reuters urged OPEC members to reject any COP28 […]