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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 & Gas Trade
03-04-2020
Tunisia and Algeria to Sign a 10 Year Gas Supply Deal
Tunisia and Algeria are to sign a 10 year gas supply deal according to the governments of Tunisia and Algeria represented by their respective Energy and Mines Ministers following the expiry of the old contract last December.
Oil Price
03-04-2020
Oil Falls on Scepticism over Trump's Saudi-Russia Output Deal
Oil prices fell on Friday, coming off their biggest one-day gains in the previous session, after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production.
Oil & Gas Trade
03-04-2020
Saudi Arabia and Russia Signal Readiness to Cooperate on Oil
Saudi Arabia and Russia signalled on Thursday they were ready to cooperate to help stabilise the oil market after calls with U.S. President Donald Trump to discuss the slump in prices triggered by the end of a deal to curb output and a collapse in demand.
Market Analysis
03-04-2020
IEA: This Oil Shock Is The Worst In History
The world has seen some oil shocks before, but “none has hit the industry with quite the ferocity we are witnessing today,” the IEA said on Wednesday in an article on its website.
Oil Price
02-04-2020
Coronavirus: Oil Prices Rise on Hopes of a Price War Truce
Global oil prices have risen after Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their price war.
Crude Oil
02-04-2020
BP Reduces Investment Plan by 25% in 2020 to US$12bn
BP has cut its 2020 spending plan by a quarter, from US$15bn to US$12bn, including a US$1bn reduction investment in short-cycle onshore activity.
Oil & Gas Trade
02-04-2020
Showing Honest Solidarity and Working Remotely ElektroMotion Series Being Supportive Technology
Recently industrial activity has been substantially reduced and labor forces worldwide have been affected heavily.
Oil Shale
02-04-2020
U.S. Shale Company Whiting Becomes First Major Bankruptcy of Oil-Price Crash
Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil prices that are expected to bite into record U.S. output.
Oil Price
02-04-2020
Iraq's Oil Income Falls by 40 Per Cent in March
Iraqs crude oil income fell by 40 per cent last month.
Crude Oil
02-04-2020
Trump Says world’s Biggest Oil Producers to Meet on Market Crash
President Donald Trump said the US would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices.
Oil & Gas Trade
02-04-2020
India's Top Refiner Declares Force Majeure On Oil Imports From Saudi Arabia
Indian Oil Corp (IOC), the country’s biggest refiner and fuel retailer, has declared a force majeure on oil imports from some of its top oil suppliers, including Saudi Arabia, which has been promising a supply surge as of today in the price war it leads w
Crude Oil
01-04-2020
How Russia Is Shedding Its Venezuelan Assets
Russia has set up a wholly state-owned oil company named Roszarubezhneft after Rosneft announced it would exit Venezuela and ditch its Venezuelan assets to a new--as of yesterday--and unnamed company, Reuters reports.
Oil Shale
01-04-2020
The U.S. Can’t Afford To Let Shale Fail
They have seen their market shares erode as the shale boom made the U.S. the world’s largest producer of crude oil.
Oil Price
01-04-2020
The U.S. is About to Lose its Place as the World's Largest Oil Producer
The United States may lose its top spot among oil producers globally this year, according to economists.
LNG
31-03-2020
Australian States May Have to Import LNG as of 2024
According to the AEMO, southern and southeastern Australian states will have to import LNG by 2024 to avoid gas shortfalls on peak winter days, as the southern gas supply is forecast to fall by more than 35% over the next five years.
Crude Oil
31-03-2020
Russia's Largest Oil Producer Halts Operations In Venezuela
Russia’s largest oil producer, Rosneft, has announced that it is halting operations in Venezuela and selling its assets there to a company fully owned by the Russian government.
Oil Price
31-03-2020
U.S. Crude Dips Below US$20 as Lockdowns Wipe Out Demand
Oil prices fell sharply on Monday, with U.S. crude briefly dropping below US$20 and Brent hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further.
Oil Price
30-03-2020
Oil Crash Puts Africa's Cash-Strapped Producers in Peril
The collapse in oil prices has left African oil producers facing a loss of revenue at a time when they need it most to fight coronavirus.
Oil Field
30-03-2020
Equinor Says Sverdrup Oilfield to Produce More, Faster than Expected
The Johan Sverdrup field is ramping up production at a faster rate than initially expected.
Crude Oil
30-03-2020
US Suspends Plans to Buy Crude Oil for the Strategic Petroleum Reserve
The US administration has suspended plans to purchase US crude oil for the Strategic Petroleum Reserve (SPR), after failing to secure funding from the Congress, and has withdrawn a tender for the first part of its oil purchase programme.
Oil Pipeline
30-03-2020
Putin Approves a New Gas Pipeline to China via Mongolia
Russian President Vladimir Putin on Friday approved the launch of a feasibility study for the Power of Siberia-2 pipeline.
Oil Price
30-03-2020
Calls Mount for New OPEC+ Deal as Oil Prices and Demand Slide
Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and price collapse caused by the coronavirus pandemic and an emerging price war.
Oil Price
30-03-2020
Russia’s Plan To Bankrupt U.S. Shale Could Send Oil To $60
As soon as U.S. shale leaves the market, prices will rebound and could reach $60 a barrel, Rosneft’s Igor Sechin said recently.
29-03-2020
Saudi Arabia Has Assured India of Uninterrupted LPG Supply: Dharmendra Pradhan
India's oil minister said on Sunday he would continue to supply the country with liquefied petroleum gas.
Oil Price
29-03-2020
After Oil Price Crash, Russia Looks for OPEC Deal
Russian officials were reportedly looking to establish another OPEC+ deal to balance oil markets.
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1
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IEA to Expedite 2025 Oil Demand Forecast, OPEC Also Moves Early
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Pemex Deer Park, Texas, Refinery Reports Spill Into Houston Ship Channel
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U.S. Weighs Sanctions on Russia Energy Flows, but Time Is Not 'Right Now'