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OPEC: Global Oil Demand to Hit 120.1m Barrels per Day (Bpd) by 2050, Energy Demand to Increase 24% During Same Period

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
21-05-2020

Canada Energy Minister: Oil Price Recovery will be Gradual
In an interview with Energy Intelligence, Sonya Savage, Energy Minister of Canada's hydrocarbon-rich province of Alberta said, the oil price recovery will be gradual.
Oil & Gas Trade
21-05-2020

Lukoil´s 1Q Hydrocarbon Production Fell
In the 1st quarter of 2020 Lukoil's daily hydrocarbon production (excluding the West Qurna-2 project) totaled 2,328 thousand boe per day, which is 2.1% lower year-on-year and 2.5% lower quarter-on-quarter.
21-05-2020

Shell Evacuates Foreign Staff From Iraq's Basra Gas Project
Shell (RDSa.L) temporarily evacuated foreign staff, numbering around 60, from Iraq’s Basra Gas Company for security reasons and flew them out of the country but production was not disrupted, officials and company executives said on Thursday.
CNPC
21-05-2020

China's Crude Oil Imports to Rise 2% y/y in 2020
China’s crude oil imports are expected to increase by around 2% in 2020 amid lower prices, while apparent crude oil consumption is seen rising by 1-2%, according to a think tank affiliated to China National Petroleum Corp(CNPC).
Oil & Gas Trade
20-05-2020

Malaysia's Petronas to Sell LNG to Chinese Firm's Tank Facility
Malaysia’s Petroliam Nasional Bhd [PETR.UL] has signed a deal to supply liquefied natural gas (LNG) to an ISO tank-filling facility owned by China’s Tiger Clean Energy in the eastern state of Sarawak, the state energy firm said on Wednesday.
Oil Field
20-05-2020

U.S. Energy Giant ExxonMobil Puts Stake In Azerbaijani Oil Field Up For Sale
ExxonMobil has again put its stake in Azerbaijan’s largest oil field up for sale despite a historic decline in oil prices linked to a decline in consumption due to coronavirus restrictions.
Oil & Gas Trade
20-05-2020

Chinese Oil Demand has Almost Rebounded to Pre-Pandemic Levels
Oil demand in China has almost returned to its level before the coronavirus pandemic spurred the government to impose lockdowns and shut down industries.
Oil & Gas Trade
19-05-2020

Coronavirus Creates Repair Headache for Oil and Gas Industry
The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say.
Oil & Gas Trade
19-05-2020

United States bump LNG exports in March
The United States increased the liquefied natural gas (LNG) exports in March with European countries remaining the top customers.
Oil Shale
19-05-2020

U.S. Oil Output from Major Shale to Drop in June to Nearly Two-Year Low
U.S. crude production from seven major shale formations is expected to fall by a record 197,000 barrels per day in June to 7.822 million bpd, the U.S. Energy Information Administration said in a monthly report on Monday.
Crude Oil
19-05-2020

PetroChina's Dalian Refinery to Resume Operations in Late-June
PetroChina said on Tuesday its subsidiary refinery Dalian Petrochemical Corp, which kicked off an overhaul on April 8, is expected to resume operations in late-June.
Oil & Gas Trade
18-05-2020

Russia’s Oil Giant Rosneft Quits All Venezuelan Operations
Russia’s largest oil producer, Rosneft, confirmed on Friday that it had discontinued all operations in Venezuela, including in joint ventures, trading, and oilfield services.
Oil Shale
18-05-2020

No One Expected U.S. Shale Oil Output Cuts to Happen So Fast
In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production.
18-05-2020

America：Alliant Energy Natural Gas Plant on Line
Public utility company Alliant Energy brought a natural gas-fired power plant on line today in Wisconsin.
LNG
18-05-2020

Daewoo E&C Won a Liquefied Natural Gas Plant in Nigeria
The company will build a plant that can produce 8 million tons of LNG and additional facilities.
Oil Shale
18-05-2020

U.S. Shale Could Crush the Oil Market Recovery
As the two petro-nations duked it out, the global oil glut ballooned to a massive oversupply and oil storage deficiency that persists today.
Oil Shale
18-05-2020

Blackstone Shale Oil Venture Gavilan Resources Files for Bankruptcy
Blackstone Group’s Gavilan Resources LLC filed for Chapter 11 bankruptcy late on Friday.
Oil & Gas Trade
17-05-2020

Saudi Oil Rush Threatens to Disrupt Stabilizing U.S. Crude Market
An armada of Saudi tankers brimming with crude heading to American shores is raising concern over storage space just as a U.S. glut shows signs of easing.
Oil & Gas Trade
17-05-2020

Pandemic Punches 1.7-Billion-Barrel Hole in Global Oil Demand
The scale of the demand hit means that despite producers implementing unprecedented output cuts, stockpiles will soar this year.
Oil & Gas Trade
16-05-2020

Saudi Loss of China Oil Market Share Likely Brief
Saudi Arabia’s loss of oil market share in China last month to Russia and Iraq is likely to be fleeting, with analysts saying shipments from the kingdom to Asia’s largest economy are rebounding in May.
Oil & Gas Trade
16-05-2020

OPEC+ Responds to Oil Market Collapse with Surprise Urgency
The 23-nation coalition is well on its way to cutting 9.7 million barrels of daily crude output, roughly 10% of global supplies.
Oil & Gas Trade
16-05-2020

US Oil, Gas Rig Count Hits Record Low for Second Consecutive Week
The rig count, an early indicator of future output, fell by 35 to a record low of 339 in the week to May 15, according to data from energy services firm Baker Hughes Co. going back to 1940.
Oil Shale
15-05-2020

U.S. Shale Needs To Slow Down To Survive
Global oil refining production could start rebounding in June, the IEA said on Thursday, but refiners’ margins may be squeezed due to rising crude prices as producers slashed output much faster than expected.
Crude Oil
15-05-2020

China Crude Oil Runs Rebound in April as Fuel Demand Picks Up
The country processed a total of 53.85 million tonnes of crude oil last month, data from the National Bureau of Statistics (NBS) showed on Friday, equivalent to about 13.1 million barrels per day (bpd).
Crude Oil
15-05-2020

Oil Hits One-Month High as Signs of Demand Emerge Amid Coronavirus Crisis
Oil prices jumped more than 3% on Friday, touching more than one-month highs amid signs that demand for crude was picking up with China reporting increased refinery runs, and rounding out a week of bullish news on the supply front.

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