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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
Crude Oil
30-04-2020
Russia Calls For Market Share Target For OPEC+
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are.
Crude Oil
30-04-2020
Russian Oil Production Set For First Annual Drop Since 2008
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news agency Interfax in an interview published on Wednesday.
Oil&Gas Drilling
30-04-2020
Russia’s Grand Plan For Arctic Oil Is Under Threat
Russia's oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the industry from the iconic fields on the shores of the Caspian in present-day Baku, Azerbaijan.
Oil & Gas Trade
29-04-2020
U.S. Oil Futures Plunge Nearly 25 Pct Amid Fears of Filled Storage
Oil prices fell significantly on Monday with the U.S. benchmark down nearly 25 percent amid fears over a growing scarcity of oil storage space.
Crude Oil
29-04-2020
U.S. Oil Companies Begin Sending Crude To Strategic Petroleum Reserve
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official.
Oil Price
29-04-2020
Canada’s Oil Firms Set To Curtail Output By At Least 1 Million Bpd
Companies in Canada have already reacted to the oil price plunge, but analysts and investors will be looking for further clues in the earnings reports about how they plan to go through the second major oil crisis in just five years.
LNG
29-04-2020
The LNG Market Is“Imploding”
The global market for natural gas is also cratering.
Oil & Gas Trade
29-04-2020
China Set to Issue First-Ever Export QQuotas for VLSFO of 10 mln T for 2020
China is set to release its first-ever quotas to export very low sulphur fuel oil with total volumes of 10 million tonnes for this year.
Oil & Gas Trade
29-04-2020
India to Launch Natural Gas Trading on Electronic Platform Next Month
The Indian natural gas exchange will start trading gas on its platform next month.
Oil Field
29-04-2020
Neptune Energy Sees Delay to Start-Up of Fenja Oilfield
Production at the Fenja oil and gas field off Norway will be delayed due to the restrictions imposed as a result of the COVID-19 outbreak.
LNG
28-04-2020
US $2.8bn Export LNG Carriers to be Constructed in China
CSSC Chairman Lei Fanpei, Saad Sherida AI-Kaabi, president and CEO of Qatar Petroleum and the Minister of State for Energy Affairs signed the contract online on behalf of two parties.
Oil Price
28-04-2020
OPEC Sees Oil Rising To $40 In Second Half Of 2020
In China, which was hit first by the coronavirus, and which exited the lockdown first, the return to normalization in the transportation sector “is driving up global demand,” according to Algeria’s energy minister.
Crude Oil
28-04-2020
$10 Oil Forces U.S. Drilling Giant To File For Bankruptcy
Diamond Offshore Drilling has filed for Chapter 11 bankruptcy protection, becoming the second major victim of the oil market crash so far, after Whiting Petroleum filed earlier this month.
Crude Oil
28-04-2020
Oil Majors May Be Forced To Cut Crude Output In Nigeria
The new OPEC+ production cut deal to remove a total of 9.7 million bpd from the market in May and June enters into force on May 1.
Crude Oil
28-04-2020
Saudi Arabia Starts Production Cuts Ahead Of OPEC+ Deal
Oil prices plummeted again on Monday, with WTI Crude crashing by 23 percent to just $13 a barrel at 2:30 p.m. EDT.
Oil Price
28-04-2020
Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil War
President Donald Trump is considering all options available to him to make the Saudis pay for the oil price war as the crash that followed has done significant damage to the U.S. oil industry.
Crude Oil
28-04-2020
Petrobras Reverses Production Cuts as Fuel Demand Beats Expectations
Petrobras has cancelled most of the cuts it had announced.
Oil & Gas Trade
27-04-2020
Iran's Petrochem Revenues to Drop by 30 Pct over COVID-19
Iran's revenues from exports of petrochemical products will decrease by nearly one third as the novel coronavirus pandemic has posed an adverse effect on the international market, Press TV reported on Saturday.
Oil & Gas Trade
27-04-2020
China's Comprehensive LNG Import Price Down
China's comprehensive import price index for liquefied natural gas (LNG) fell last week, according to Shanghai Petroleum and Natural Gas Exchange (SHPGX).
Oil&Gas Drilling
27-04-2020
Satellites Reveal Depth of Permian Basin’s Methane Emissions Problem
A study shows leaked methane emissions across the Permian Basin in the 11 months to March 2019 were enough to supply two million homes with natural gas.
Oil & Gas Trade
27-04-2020
Russia’s Energy Ministry Expects Gradual Revival in Oil Demand in Second Half of Year
Minister Alexander Novak said before it happens oil producing countries should avoid filling of oil storage facilities to the full and prevent a market collapse.
Crude Oil
27-04-2020
Algeria Says Proven Oil Rserves at 10 Billion Barrels
OPEC member Algeria's proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels, Energy Minister Mohamed Arkab said on Sunday.
Oil Price
27-04-2020
US Oil Futures Dip over 7 Pct Amid Oversupply Concerns
Oil prices dropped noticeably Sunday night with the US benchmark down more than 7 percent amid persistent oversupply concerns.
Oil & Gas Trade
27-04-2020
Gas Sales Keep Wentworth on Plan for Dividend
Gas demand for Tanzania's wentworth resources will remain flat this year.
Oil&Gas Drilling
27-04-2020
Diamond Offshore Files for Chapter 11 Bankruptcy Amid Historic Oil Price Crash
Diamond Offshore Drilling Inc., a rig contractor owned by Loews Corp., filed for bankruptcy.
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