ENERGY

After a strong run in the past few days, oil prices were sliding ahead of this morning's official DOE inventory and production data (following last night's 1.5mm barrel crude draw reported by API).

DOE

• Crude -1.95mm

• Cushing -18k

• Gasoline -3.31mm

• Distillates +624k

Crude stocks drew-down for the second week in a row and the drawdowns for Gasoline stocks extended to a 7th straight week…

Source: Bloomberg

Crude (more…)

By Brian Westenhaus of OilPrice.com

Pohang University of Science & Technology scientists have developed a catalyst for the urea oxidation reaction, enhancing hydrogen generation efficiency. Professor Kangwoo Cho and PhD candidate Jiseon Kim from the Division of Environmental Science & Engineering at Pohang University (POSTECH) collaborated with the Korea Institute of Science and Technology (KIST) to devise a novel catalyst aimed at enhancing the efficiency of reactions using (more…)

Via The Cradle

Israel’s NewMed Energy reported on Tuesday that natural gas exports from the Leviathan field to Egypt increased by 28 percent in 2023. The company reports that the exports jumped from 4.9 billion cubic meters (BCM) in 2022 to 6.3 BCM in 2023. 

Israel Katz, former energy minister, approved the increase in exports to Egypt last year. For 2026, he projected an annual production increase of six BCM – about 60 percent over the current volume. "3.5 BCM of which (more…)