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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 & Gas Trade
07-05-2020

Saudi Arabia Succeeds In Seizing Oil Market Share From Key Rivals
Saudi Arabia doubled its crude oil exports to China in April to the highest volumes since at least 2017.
Oil Shale
06-05-2020

Shell Sells Appalachia Shale Gas Assets to National Fuel
The consideration is intended to be paid in cash, but National Fuel has the option to provide up to US$150 million of NFG common stock as consideration.
Oil & Gas Trade
06-05-2020

Why Russia Finally Accepted Deeper Oil Output Cuts
When Russia refused two months ago to join the deeper OPEC oil cuts, it was because Moscow found them unnecessary. Two months later, Russia agreed to cut quite a bit more than it was asked to at the ill-fated March meeting.
Crude Oil
06-05-2020

Equatorial Guinea set to Construct Modular Crude Oil Refinery in Punta Europa
The contract was awarded to Houston based VFuels Oil & Gas Engineering (VFuels),a full service oil and gas engineering, design, and fabrication firm that specializes in modular process equipment.
Oil&Gas Drilling
06-05-2020

Equatorial Guinea Extends Oil and Gas Exploration Licenses by Two Years
The minster continued: “Liquidity is very important right now. The last thing we want is for [companies] to decide that it is not economical to operate in-country.”
Oil & Gas Trade
06-05-2020

Saudi Arabia's Oil Exports to Drop in May as Demand Slides
Saudi oil exports are expected to fall to about 6 million barrels a day in May, the lowest in nearly a decade.
Crude Oil
06-05-2020

Numaligarh Refinery to Import 21TMT of Crude Oil from Petronas Malaysia
NRL will take advantage of the collapse in oil prices to import 21 tonnes of crude from petronas.
Oil Price
06-05-2020

Oil Prices Fall as Rising U.S. Inventories Reassert Supply Concerns
Oil prices fell Wednesday, ending a multi-day rally.
Oil Price
05-05-2020

Russia’s Gazprom Neft Sees Oil Prices Topping $30 This Summer
Oil prices will top $30 a barrel this summer as demand will start to recover slowly, Alexander Dyukov, chief executive at Russian oil producer Gazprom Neft, told a Russian television channel in an interview on Friday.
Oil & Gas Trade
05-05-2020

Venezuela Oil Exports Climb As OPEC Agreement Kicks In
While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil exports—even in the face of US sanctions and Rosneft pulling the plug on its dealings with PDVSA.
Crude Oil
03-05-2020

Saudi Must Reduce Expenditures to Ease COVID-19 Economic Impact: Minister
Saudi Arabia "must reduce expenditures" to mitigate the economic impact of the COVID-19 pandemic, Finance Minister Mohammed al-Jadaan said.
Oil Shale
03-05-2020

Exxon, Chevron Slam Brakes on Shale as Oil Demand Tumbles
Exxon Mobil Corp and Chevron Corp are slamming the brakes on U.S. shale oil production at a time when crude prices and fuel demand have plunged due to global lockdowns to fight the coronavirus pandemic.
Crude Oil
03-05-2020

Oil Rises Further Above US$26 as Opec+ Begins Record Cuts
Oil rose further above US$26 a barrel on Friday as Opec and its allies embarked on record output cuts to tackle a supply glut due to the coronavirus crisis that has been weighing on the market.
Oil Price
03-05-2020

Canada’s Oil Patch Struggles To Survive The Worst Recession Ever
Canada is likely going through its worst-ever recession, with more pain to come in May when the statistics authorities and analysts will have a fuller picture of the economic disaster brought about by the coronavirus pandemic and the measures to curb its
Crude Oil
02-05-2020

Oman Plans About 30 Per Cent Cut in July Crude Allocations
Oman has notified all its crude oil term customers of a cut of about 30 per cent in their allocations for July loading and delivery, Oman's oil and gas ministry said on Thursday.
Oil Price
02-05-2020

Chevron Slashes Capex Again To Protect Dividend In Oil Price Rout
U.S. oil supermajor Chevron Corporation (NYSE: CVX) reduced its capex guidance for the second time in two months to protect its dividend, as it warned on Friday that its financial results would continue to be depressed as long as oil prices stay low.
Crude Oil
02-05-2020

Russian Oil Output Jumped to 11.35 Mln Bpd in April, Ahead of cuts
Russia raised oil and gas condensate output in April to 46.45 million tonnes, or 11.35 million barrels per day (bpd), from 11.29 million bpd in March, Interfax reported on Saturday, before it makes cuts this month under a global supply pact.
Crude Oil
02-05-2020

Oil Tanker Rates Plunge More Than 50% As OPEC+ Cuts Start
The daily rate for chartering an oil tanker from Saudi Arabia to China has plunged by over 50 percent in one week to $100,000 as OPEC+ begins on Friday the collective cut to remove 9.7 million bpd from the oversupplied market, Bloomberg reports, citing t
Oil Price
01-05-2020

OPEC+ Oil Production Hits 13-Month High As Output Cuts Start
After the collapse of the previous OPEC+ deal in early March, OPEC opened the taps in April, pumping at its highest level in 13 months.
Oil Price
30-04-2020

OPEC Daily Basket Price Stands at $14.36 a Barrel Wednesday
The price of OPEC basket of thirteen crudes stood at $14.36 a barrel on Wednesday, 29th April, 2020, compared with $12.41 the previous day, according to OPEC Secretariat calculations.
Oil & Gas Trade
30-04-2020

Azerbaijan's SOCAR Says BP to Cut Oil Output by 76,000 Bpd in May-June
Azerbaijan’s state energy company SOCAR said on Thursday that BP, which leads a number of big energy projects in the former Soviet country, will cut its oil production by 76,000 barrels per day (bpd) in May-June.
Oil Price
30-04-2020

Australia's Woodside Sees Low Oil Prices into 2021
Australian independent Woodside Petroleum expects low oil prices to persist for the rest of 2020 and into next year.
Oil&Gas Drilling
30-04-2020

Fenja, Neptune's First Operated Development Project on the Norwegian Shelf
On April 28, Neptune Energy announced the drilling campaign on the Fenja field is now underway.
Oil & Gas Trade
30-04-2020

Belarus Buys First Oil from Saudi Arabia: Refiner Belneftekhim
Belarus, long dependent on Russian oil, has bought its first barrel of crude from Saudi Arabia.
Crude Oil
30-04-2020

Oil Major Chevron Could Be Forced To Cut Oil Production In Kazakhstan
Kazakhstan is in talks with the companies operating its two sizeable offshore oil projects to reduce total output by 22 percent in compliance with the latest OPEC+ production cut agreement.

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