Qatar says LNG market not oversupplied as it prepares to add 23mmt to global market
Qatar is planning to add 23 million mt/year of export to the global LNG market, just as it disagrees the market is not currently oversupplied. Mohammed al-Sada, Qatar’s oil minister Monday is reported to have said there could be a small LNG supply surplus in the early 2020s, but the market would remain effectively balanced […]
LNG glut may flip to deficit as U.S. seen becoming biggest producer by 2035
The global glut plaguing liquefied natural gas markets may start to dwindle in five years, threatening to spur a deficit equivalent to twice the output of leading producer Qatar. According to Bloomberg report, new projects are needed to fill the shortfall, with demand for the super-chilled fuel forecast to double in the 20 years to 2035, Cedigaz, […]
Commodities wrap-up: June 26
The week began on a losing note, making it the 5 straight week of losses for the crude prices. OPEC is said to be considering calling for a cut in outputs from Libya, Nigeria and Iran. Analysts say they also expect Saudi Arabia to lead other OPEC and non-OPEC members like Russia in a deeper […]
Qatar’s emir meets Exxon Mobil Corp CEO over energy supply talks
The emir of Qatar met with Exxon Mobil Corp chairman and CEO Darren Woods in Doha on Saturday for talks on “cooperation,” state news agency QNA reported, following a rift between four Gulf states and Qatar that has raised worries about energy supplies. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt on Monday cut […]
Meet the four men charged over Barclays’s Qatar fundraising
Barclays Plc and four former executives were charged by the U.K. Serious Fraud Office with conspiracy to commit fraud during the bank’s 2008 effort to raise capital from Qatar. Barclays was seeking to avoid a bailout amid one of the most turbulent periods in financial history. The four men are the most senior U.K. banking executives charged since […]
Compliance concerns seen scuttling OPEC’s production cuts as Gulf row deepens
The continued rising tensions in the Gulf region might risk the Organisation of Petroleum Exporters’ (OPEC’s) oil production cuts agreement, especially if Qatar, a major producer, who is at the middle of the tension decided not to follow the agreed production quota, oil market watchers have said. The breakdown of diplomatic ties between Qatar, Saudi […]
Port bans choke Qatar’s commodity trade as gas supply worries grow
A campaign by leading Arab powers to isolate Qatar is disrupting trade in commodities from crude oil to metals and food, and deepening fears of a possible jolt to the global gas market, where the tiny Gulf state is a major player. Just a day after Saudi Arabia and its Arab allies severed transport links […]
Bitcoin soars back towards record highs
Despite no specific catalyst, except perhaps some flight to safety seen also seen in precious metals post-Qatar-chaos, the price of Bitcoin is surging once again back towards its record highs. Having fallen notably early last week, the cyrptocurrency has recovered almost all its losses as it tests back above $2600 this morning. Catalysts for this […]
Qatar says it faces campaign of lies, denies interfering
Qatar said on Monday it was facing a campaign of lies and fabrications aimed at putting the Gulf Arab state under guardianship, after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties with it Reuters reports. “The campaign of incitement is based on lies that had reached the level of complete fabrications,” the […]
Oil prices dip on fears Middle East spat could harm OPEC cuts
Oil prices reversed gains to trade down on Monday on concerns that the cutting of ties with Qatar by top crude exporter Saudi Arabia and other Arab states could hamper a global deal to reduce oil production, Reuters reports. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain closed transport links with top liquefied natural […]