Oil storage news

The 32 Member countries of the IEA have agreed to make 400 million bbl of oil from their emergency reserves available to the market to address disruptions in oil markets stemming from the war in the Middle East.

The US Energy Information Administration (EIA) has published its latest Short-Term Energy Outlook (STEO).

Jaison Davis, Economic Research Analyst at GlobalData, provides commentary on GCC exports, with global energy markets in flux.

The International Gas Union (IGU) has released a statement on the escalating conflict in the Middle East and its impact on global energy security.

Higher oil and gas prices are certain as the closure of the Strait of Hormuz threatens to disrupt 15% of global oil supply and 20% of global LNG supply if tanker flows are not quickly restored, according to Wood Mackenzie.

Since 2002, Gerotto has been among the pioneers in the design and manufacturing of no-man entry robotic solutions for operations in confined spaces and explosive atmospheres.

EIA forecasts that production of petroleum and other liquids will continue to exceed global demand, which results in Brent crude oil prices falling from an average of US$69/bbl in 2025 to US$58/bbl in 2026 and US$53/bbl in 2027.

Exolum, Methanex Corp., and Ørsted, have announced the launch of the UK’s first commercially ready bio-methanol storage and supply service for shipping at the Port of Immingham.

L&T Onshore has won a large order from Petronet LNG for the construction of additional storage at the Dahej Petrochemical Complex in Gujarat, India.

The Indonesian President has inaugurated upgrades to the Balikpapan Refinery, a National Strategic Project that marks a significant milestone in strengthening Indonesia's energy security and sovereignty.