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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 Price
26-10-2020
Global Oil Prices to Recover in 2021, Reaching $44 pb: World Bank
In its semi-annual commodity markets outlook report, which focused on the impacts of the COVID-19 pandemic on such markets, the WB said that oil prices are expected to stabilize below pre-pandemic levels in 2021.
Oil Shale
26-10-2020
Argentina to Subsidize Shale Gas Production With $5.1 Billion
Argentina will give subsidies of a total of US$5.1 billion to shale gas drillers in an attempt to revive production in its Vaca Muerta shale play and attract as much as US$5 billion in investments, Energy Secretary Dario Martinez said this week.
Oil & Gas Trade
25-10-2020
US Crude Stocks Dip, Gasoline Inventories up: EIA
US crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration said on Wednesday.
Carbon Neutral
24-10-2020
China CNOOC Says to Raise Gas' Share to Half of Output by 2035
China's national offshore oil and gas producer CNOOC Ltd said on Thursday it aims to raise the share of natural gas to make up half of its total output by 2035 to contribute to a national carbon neutral target by 2060.
Oil Price
23-10-2020
Oil Prices Rebound On Small Crude Draw
Crude oil prices rose today after the Energy Information Administration reported a crude oil inventory decline of 1 million barrels for the week to October 16.
LNG
23-10-2020
The World’s Largest Oil Trader Just Sent LNG Prices Soaring
Three trades for liquefied natural gas cargoes executed by commodity trading major Vitol made the company the talk of the LNG town as it pushed the Asian regional LNG benchmark up by as much as 20 percent.
Oil & Gas Trade
22-10-2020
PGNiG to Buy Danish Offshore Gas from Ørsted
Danish offshore wind developer Ørsted has signed a deal to sell gas to Polish oil and gas company PGNiG under a multi-year contract.
Oil&Gas Drilling
22-10-2020
South Australia Eyes more Gas Exploration
Private-sector exploration expenditure will increase from A$158mn a year in 2018 to a sustainable average of A$300mn a year by 2025, the SA government said.
LNG
22-10-2020
Total Ships First Carbon Neutral LNG Cargo to CNOOC
Total delivered its first carbon-neutral LNG cargo to China's state-controlled CNOOC on 29 September, the third such cargo that the Chinese firm has received this year.
Oil & Gas Trade
22-10-2020
India Allows UAE's ADNOC to Export Oil from Strategic Reserve
Allowing ADNOC to export its oil mirrors a model adopted by countries such as Japan and South Korea which allow oil producers to re-export crude storage. India does not allow oil exports.
Malaysia
22-10-2020
Malaysia: Five Petroleum Official Launch
Five Petroleum Malaysia made its debut earlier this year, and has now made official launch of its Ultimaxx range of fuels and integrated!
Oil & Gas Trade
22-10-2020
Israel And The UAE Sign Historic Oil Deal
Israel and the United Arab Emirates signed this week a preliminary agreement under which crude oil from OPEC’s third-largest producer could be shipped to European markets via an oil pipeline in Israel connecting the Red Sea with the Mediterranean.
LNG
21-10-2020
Japanese Sell out of Australian LNG Import Project
Australian billionaire Andrew Forrest has taken over full control of a A$250 million gas import terminal in New South Wales, buying out stakes held by Japan's JERA and Marubeni Corp in a push to speed up the project.
Oil Price
21-10-2020
Iraq Sees Oil Prices Recovering In Q2 2021
Currently, the OPEC+ production cuts are delaying oil projects in Iraq.
Oil Price
20-10-2020
ConocoPhillips Becomes First Major U.S. Oil Firm To Pledge Emission Cuts
Unlike European oil majors – who have rushed to pledge various commitments to become net-zero energy companies – U.S. companies, including Exxon and Chevron, hadn’t set any such goals.
Oil Field
20-10-2020
Petrobras Delays Parque Das Baleias Project to 2024
Brazilian oil major Petrobras has postponed the Parque das Baleias integrated project in the Campos basin by about one year.
Oil & Gas Trade
20-10-2020
Japan April-Sept Crude Import Volume Fell to the Lowest Since at Least 1979
Japan's customs-cleared crude oil imports fell 21.2 per cent in the April-September period on year to the lowest since at least 1979 when the comparison data is available.
Oil Pipeline
19-10-2020
German Foreign Minister: "Beixi-2" Natural Gas Pipeline Will be Built
German Foreign Minister Maas stated that the "Beixi-2" natural gas pipeline "will be completed", but it is not certain when it will be completed.
LNG
19-10-2020
New Fortress Energy Signs MOU with Philippine National Oil Company
"The memorandum will enable cleaner, more affordable and more reliable energy for the people of the Philippines," said Wes Edens, CEO and Chairman of NFE.
Oil&Gas Drilling
19-10-2020
Turkish President Announces More Natural Gas Reserves in Black Sea
"Total amount of natural gas reserves in the Tuna-1 well in Sakarya Gas Field reached 405 billion cubic meters," he said after his inspections at the ship.
LNG
19-10-2020
UK’s Avenir LNG Receives Its First dual-Purpose LNG Vessel
UK-based Avenir LNG said Wednesday it received its first dual purpose LNG bunkering and supply vessel, which will be deployed to Malaysia.
LNG
18-10-2020
South Africa’s DNG Energy Secures LNG Bunkering Permit
The Transnet National Port Authority has granted a licence to DNG Energy to begin LNG bunkering at Coega.
Crude Oil
16-10-2020
Russian Oil Companies Plan Significant Drilling Cuts For 2021
Russian oil producers who have already reduced their drilling activity by a third this year may cut it further by 20 percent.
Oil&Gas Drilling
16-10-2020
West Bollsta Rig Drills Lundin’s Polmak Well
Swedish oil and gas company Lundin has spudded the Polmak well in the Barents Sea offshore Norway, using the West Bollsta semi-submersible drilling rig.
LNG
16-10-2020
South Korea’s DSME Bags Orders for 6 LNG Carriers
South Korea’s Daewoo Shipbuilding & Marine Engineering has bagged two new orders to deliver six liquefied natural gas carriers.
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