Oil and Gas Press Energy News Brief

UAE announces Hydrogen Leadership Roadmap. the Ministry of Energy and Infrastructure (MOEI) today announced the Hydrogen Leadership Roadmap, a comprehensive national blueprint to support domestic, low-carbon industries, contribute to the country’s net-zero ambition and establish the country as a competitive exporter of hydrogen.

The Roadmap’s ambitions underscore the UAE leadership’s enduring legacy of progressive solutions to global climate challenges, as recently demonstrated by the announcement of “UAE’s Net Zero by 2050 Strategic Initiative”. The UAE became the first country in the Middle East and North Africa region to announce a net zero strategic initiative by 2050 in line with the 2015 Paris Agreement.

The unveiling of the Hydrogen Leadership Roadmap came during the crucial COP26 climate conference in Glasgow, where countries from across the globe are expected to commit to enhanced pledges to cut emissions for the first time since the Paris accord was signed. Read More

CME Group Inc., today declared a fourth-quarter dividend of $0.90 per share. The dividend is payable December 28, 2021, to shareholders of record as of December 10, 2021. Read More

CME Group Signs 10-Year Partnership with Google Cloud to Transform Global Derivatives Markets Through Cloud Adoption. Companies to co-innovate to deliver expanded access, new products, and more efficiencies for all market participants. Google also makes $1B equity investment in CME Group Read More

Bank of America predicts crude oil will skyrocket 43% to $120 a barrel by next summer with gas prices already at a seven-year high of $3.40 Read More One barrel of crude oil contains 42 gallons, but produces about 20 gallons of gasoline.  Because 70 percent of all retail goods are transported by truck, rising gas prices also fuel broader inflation by increasing shipping costs.

Holcim joins the First Movers Coalition (FMC) as a founding member to drive more green demand and low carbon technologies to advance our world’s climate goals. On the green procurement side, Holcim commits to FMC’s trucking ambition, to reach 30% of zero-emission heavy-duty truck purchases or contracts by 2030. On the supply side, Holcim will continue to scale up its green building solutions and next-generation technologies for net-zero construction. Read More

Commodity PricesUnitsPrice $Change
Crude Oil (WTI)USD/bbl$79.61Down
Crude Oil (Brent)USD/bbl$81.12Down
Bonny LightUSD/bbl$81.85Down
Natural GasUSD/MMBtu$5.75Up
OPEC basket 03/11/21USD/bbl$81.58Down
At press time 04th November 2021

The Organization of the Petroleum Exporting Countries (OPEC) will host the Seventh Technical Meeting on Asian Energy and Oil Outlook on Monday, 8 November 2021, via videoconference. The Meeting will focus on addressing the developments of the Asian oil and energy markets, associated drivers and challenges, as well as the prospects for energy demand and the impact of policies related to carbon neutrality. Read More

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Oil and Gas, Press, Energy, Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole. Please send us your industry related news for publication

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