October 2020

With coal delivering to India for less than $3/MMBtu, the price is still more competitive than LNG,

ExxonMobil predicts that, by 2030, China’s LNG imports will “probably exceed” 90mn t/yr—50pc growth even from 2019.

With India’s growing gas demand outstripping domestic production, LNG is playing an increasingly important role.

Iran sanctions relief under a change in US president represents the biggest supply and price impact for global oil markets

The German economy likely grew by around 6% in the third quarter

Opportunities include further development of hydrocarbons reserves in Russia's Arctic offshore zone, which contains over 85.1 trillion cubic meters of natural gas, and 17.3 billion mt of crude and condensate.

Brent was up 52 cents, or 1.3%, at $40.98 a barrel, WTI gained 38 cents, or 1%, to $38.94.

Crude oil is considered a key product to complete China's annual energy purchase commitments due to the commodity's typically higher value and volume compared with other energy products.

Gas accounts for little over 6pc of India’s primary energy consumption mix, which is far below the global average. New Delhi has set a target to raise this to 15pc by 2030,

Your Excellency, Prime Minister Modi, OPEC is a reliable partner of India and the great strategy you set out for your esteemed country. Long may this relationship continue to blossom.