QATAR: RESPONSIBLE SUPPLIER
Qatar has no plans to pitch in as an alternative supplier as Europe seeks to reduce its reliance on Russian gas according to the country's energy minister, AFP has reported.
"Qatar doesn't see itself as an alternative to other producers and exporters. We producers complement each other," said Dr. Mohammed al-Sada, Qatar's Minister of Energy and Industry.
"We know that energy is not just a commercial product but a very strategic one and we know what responsibility a producer therefore has," he added.
The European Union is due to hold a fresh round of talks with Russia and Ukraine in Berlin on Friday in a bid to settle an ongoing dispute over gas deliveries. Amid deteriorating relations between Russia and its major gas export countries, Europe has increasingly started to look to the Middle East for alternatives.
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REUTERS - India’s natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India’s population.
Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.
WSJ - Light, sweet crude for December delivery rose $1.41, or 2.6%, to $56.55 a barrel on the New York Mercantile Exchange, snapping a three-session losing streak. Brent, the global benchmark, advanced $1.36, or 2.2%, to $62.72 a barrel.
U.S. Rig Count is up 327 rigs from last year's count of 588, with oil rigs up 267, gas rigs up 61, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 24 rigs from last year's count of 184, with oil rigs up 9 and gas rigs up 15.