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OPEC
OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period
Oil Exploration
09-07-2021
Turkish Company Applies to Explore for Oil in East Med - Official Gazette
Turkey's state-owned energy company TPAO has applied for a licence to explore for crude oil in the eastern Mediterranean.
Oil&Gas Drilling
09-07-2021
Early Mover CGX Spuds Long-Awaited Guyana Oil Well
Canadian independent CGX Energy, one of the early movers in Guyana's offshore play, spudded its first well in the South American country, 21 years after its initial effort derailed because of a border dispute.
Market Analysis
09-07-2021
Algeria Leads the GECF Research and Development Arm
A Founding Member of the GECF, Algeria’s footprint in the 18-member association is deeply embedded in the history and current direction of the organisation.
Oil Field
09-07-2021
Lukoil to Operate Offshore Area 4 Project in Gulf of Mexico
PJSC LUKOIL announced the entry into an agreement to acquire the 50% operator interest in the Area 4 project in Mexico through the acquisition of the operator’s holding company.
Crude Oil
09-07-2021
Oil Prices Climb as U.S. Reports Rapidly Declining Crude Stockpiles
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season.
Oil Price
09-07-2021
$70 Oil Isn’t Enough To Stabilize Iraq Right Now: Moody’s
Iraq’s economy will strengthen this year as a result of higher oil prices but this will not be enough to stabilize it over the long term, according to Moody’s.
Oil Refinery
08-07-2021
First Overhaul After the Modernization of the Shymkent Refinery is Completed
Shymkent Refinery is the Pearl of China-Kazakhstan Energy Cooperation Project
LNG
08-07-2021
CNOOC and Petronas Signed a 10-year LNG Supply Agreement
The transaction is valued at approximately US$7 billion.
LNG Carrier
08-07-2021
The Suez Canal Blockage: Impact on the LNG Shipping Marke
The first half of 2021 witnessed an impressive volatility of the LNG shipping market.
OPEC
08-07-2021
Opec+ Might not Meet Until August: Saudi Oil Minister
Saudi Arabia's oil minister Abdulaziz bin Salman has conceded the Opec+ coalition's next meeting could take place no sooner than August, as an ongoing clash with the UAE stalls the group's output policy past July.
Oil Field
07-07-2021
POSCO International to Develop Gas Field in Indonesia
POSCO International will push for the development of a large-scale oil and gas field in Indonesia following Myanmar.
Oil Pipeline
07-07-2021
Oil Pipeline Explosion Kills 3 In Iran
Iranian media report that an explosion that started at a pump house in the country’s southwest tore through oil and gas pipelines, killing three people and injuring four more.
United States
07-07-2021
US Oil Prices Soar To 6-Year High In OPEC Standoff
The U.S. benchmark oil price WTI Crude hit its highest level since November 2014 early on Tuesday, after OPEC+ on Monday called off its third attempt to reach an agreement over oil policy management for the coming months.
Crude Oil
07-07-2021
Oil and Dollars: Why the UAE is Risking a Falling-out with OPEC+
The UAE agreed with the other 22 OPEC+ members that monthly output cuts should be eased by 400,000 barrels a day from August, but said the extension should be treated separately
Mexico
06-07-2021
Mexican Oil Giant Says No Environmental Damage from Raging Gulf Fire
Just days after video of a massive ocean surface blaze near a Pemex oil platform in the Gulf of Mexico went viral, Mexico's national oil company has declared that environmental damage was avoided due to quick action by its workers.
Oil Price
06-07-2021
Oil Prices Jump to Multiyear Highs After OPEC+ Talks Yield No Production Deal
Oil jumped to its highest level in nearly three years on Monday after talks between OPEC and its oil-producing allies were postponed indefinitely, with the group failing to reach an agreement on production policy for August and beyond.
Oil Field
06-07-2021
Mud Volcano Explosion Near Major Caspian Sea Gas Fields
An explosion near an offshore field in the Caspian Sea has had media guessing as to what happened, after several shots and videos were released online.
Crude Oil
06-07-2021
OPEC+ Fails To Hike Oil Production, Delays Decision Again
OPEC+ much-awaited resumption of talks today has now been delayed, indicating that Saudi Arabia and the UAE have not been able to broker any agreement after the UAE opposed production cut proposals as “unfair” and the Saudis responded with tariff amendmen
Crude Oil
06-07-2021
Opec+ Resumes Output Talks Amid UAE Standoff
Opec+ ministers are due to resume talks at 15:00 Vienna time today to try to defuse what is fast becoming the group's most serious crisis since it embarked on its historic mega-cut pact during the height of the first wave of the Covid-19 pandemic.
LNG Carrier
06-07-2021
Hyundai Heavy Industries Attains 94% of Order Intake Goal for 2021
Korea Shipbuilding & Offshore Engineering, an intermediate holding company in charge of the shipbuilding business of Hyundai Heavy Industries Group, attained 94 percent of its order target for 2021 as of July 2.
LNG
05-07-2021
World's Largest Dual-Fuel Container Ship Construction Project Concluded
So far, all 9 super large ships of the project have been completed and delivered on time, achieving a perfect ending.
LNG
05-07-2021
Global LNG Deliveries Rise in June
Worldwide LNG receipts increased compared with a year earlier for a fourth consecutive month in June but dropped from May and were at their lowest since October.
Oil Pipeline
05-07-2021
Environmentalists Slam Mexico After Underwater Oil Rig Fireball in Gulf
Mexico’s state-owned oil company said Friday that an undersea gas pipeline ruptured near a drilling platform in the Gulf.
Oil Price
05-07-2021
Oil Prices in S. Korea Hit 33-Month High
Retail oil prices in South Korea rose for the ninth consecutive week to reach the highest level in nearly three years amid a global oil rally.
Oil Exploration
05-07-2021
Erdogan: Turkey will Continue Oil Exploration in Disputed Eastern Mediterranean
Turkey's president may be upping the ante against Greece, Cyprus and the European Union.
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