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NIS Agrees on Crude Oil Imports via JANAF, Restart of Pančevo Refinery Expected Soon
Naftna industrija Srbije (NIS) has agreed on the import of the first quantities of crude oil via the Adriatic Pipeline (JANAF), creating the conditions for the restart of production at the Pančevo Oil Refinery. According to the company’s statement, the…
Bulgaria Announces New Oil and Gas Exploration in the Black Sea
At a ceremony held at the Council of Ministers, Bulgarian Prime Minister Rosen Zhelyazkov signed an agreement for the exploration and search for oil and natural gas in Block 1-26 Han Tervel. On this occasion, the Prime Minister emphasized that…
China’s Slowdown is Weighing on the Outlook for Global Oil Demand Growth
Monthly data reported by countries representing 80 percent of global oil demand for the first six months of 2024 are now available. The data confirm the sharp slowdown in the rate of growth in oil consumption. Global demand rose by…
Oil Demand Growing at a Slower Pace as Post-Covid Rebound Runs its Course
Global oil demand growoilth is currently in the midst of a slowdown and is expected to ease to 1.2 million barrels a day (mb/d) this year and 1.1 mb/d in 2025 – bringing a peak in consumption into view this…
China’s petrochemical surge is driving global oil demand growth
The global petrochemical industry – essential to the production of clothing, tyres, detergents, fertilisers, and countless other everyday products – is currently going through a momentous period of transition. Driving this change is a towering wave of new petrochemical plants,…
IEA: Growth in global oil demand is set to slow significantly by 2028
Growth in the world’s demand for oil is set to slow almost to a halt in the coming years, with the high prices and security of supply concerns highlighted by the global energy crisis hastening the shift towards cleaner energy…
IEA Member Countries Agree to New Emergency Oil Stock Release in Response to Market Turmoil
The International Energy Agency’s 31 Member Countries agreed on Friday to a new release of oil from emergency reserves in response to the market turmoil caused by conflict between Russia and Ukraine, underscoring their strong and unified commitment to stabilizing…