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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 Drilling
04-03-2020

Shell and ExxonMobil Plan for Exploration of Blocks Offshore Somalia
The Ministry of Petroleum and Mineral Resources of Somalia has agreed on an initial roadmap with the Shell/ExxonMobil joint venture focused on the next steps towards the exploration and development of certain offshore hydrocarbon blocks.
Oil and Gas Technology
03-03-2020

China National Petroleum Corporation Completes First Medical Mask Production Line
22 days of hard work, day and night scientific research, non-stop construction...On February 29, the first batch of six production lines for surgical masks was completed and put into operation, with a production capacity of 600,000 units per day.In march,
Oil&Gas Drilling
03-03-2020

Equinor Strikes Oil Near Gudrun Field in North Sea
Equinor has made an oil discovery near the Gudrun field following the conclusion of the drilling of wildcat wells 15/3-12 S and 15/3-12 A in the central part of the North Sea.
Oil & Gas Trade
02-03-2020

China's Fuel Demand To Normalize Earlier Than Projected
China's thirst for fuel has substantially gone down after the coronavirus outbreak forced government officials to lock down cities and restrict non-essential travels. Based on the latest figures...
Oil&Gas Drilling
02-03-2020

Lebanon Launches Oil and Gas Exploration Project
Lebanese President Michel Aoun on Thursday inaugurated the country's first offshore oil and gas exploration, the President's office said in a statement.
Oil Price
01-03-2020

Russia's Putin Says Current Oil Prices Acceptable
Russian President Vladimir Putin said on Sunday that current oil prices were acceptable and that Russia had the tools to react to any negative effects of the spread of the coronavirus on the global economy.
Oil&Gas Drilling
01-03-2020

Arctic Oil Drilling Plan Coming Soon, U.S. Interior Chief Says
The Trump administration is moving to sell drilling rights in the Arctic National Wildlife Refuge, Interior Secretary David Bernhardt said Saturday.
28-02-2020

China National Petroleum Corp names Li Fanrong as New General Manager
China National Petroleum Corp (CNPC) said on Friday that Li Fanrong had been appointed as new general manager of the group, the company said in a statement posted on its website.
Crude
28-02-2020

Russia: Coronavirus Impact On Oil Is Worse Than Expected
Russia continues to refuse to announce its position regarding deeper cuts by the OPEC+ coalition, but admitted that the coronavirus outbreak could lead to additional downward revisions to the global oil demand growth outlook for 2020.
Oil&Gas Drilling
28-02-2020

Lebanon Begins 'Historic' Offshore Oil Drilling Amid Crisis
Lebanon's president Thursday inaugurated the Mediterranean country's first offshore exploratory drilling for oil and gas, calling it a “historic day” for the cash-strapped country.
Oil & Gas Trade
27-02-2020

China-Myanmar Gas Pipeline Imports of Natural Gas made a Breakthrough Last Year
The reporter recently learned from Kunming Customs that the natural gas imports of China-Myanmar oil and gas pipelines will exceed 5 billion cubic meters in 2019.
Oil Price
27-02-2020

Oil Prices Steady but Virus Fears Continue to Weigh
Oil prices steadied on Wednesday in Asia, but virus fears continued to weigh as the spreading showed no signs of slowing.
Crude
26-02-2020

Coronavirus Punches Hole In Oil Market That OPEC Can’t Fix
The coronavirus epidemic is a black swan that has severely disrupted the outlook for the global oil market, and at this moment it remains unclear how large the destruction in demand will be because of the outbreak.
Oil & Gas Trade
26-02-2020

Oil may Hit $40 if Russia doesn’t Support Opec’s Production Cuts
In a volatile trading last week, crude oil prices touched one-month high and then fell back as coronavirus fears were back in the markets, with infection and death tolls rising in South Korea, Italy and the Middle East.
Oil & Gas Trade
26-02-2020

IEA: Coronavirus May Hit Oil Demand Growth More Than Expected
The coronavirus outbreak could hit global oil demand growth more than currently expected, the head of the International Energy Agency (IEA) said on Tuesday, adding that the agency could additionally trim its oil demand growth projections.
Shale Gas
25-02-2020

Saudi Aramco Launches Largest Shale Gas Development Outside U.S.
Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.
Crude
25-02-2020

Libyan Oil Chairman Calls On U.S. To Help End Oil Blockade
The United States should step in and help lift the blockade of Libyan oil ports that has decimated the country’s oil production, the chairman of the National Oil Corporation, Mustafa Sanalla said during a meeting with the U.S. ambassador.
Oil & Gas Trade
25-02-2020

Iran to take Part in OPEC Meeting in March
Oil Minister Bijan Namdar Zanganeh said that Islamic Republic of Iran will participate in upcoming meeting of the Organization of Petroleum Exporting Countries (OPEC) which will be held in March 2020.
Oil & Gas Trade
24-02-2020

US hits Russian Firm in Bid to Squeeze Venezuela
The United States imposed sanctions on a subsidiary of Russian state oil major Rosneft and its president on Tuesday for allegedly helping the Venezuelan government to evade sanctions.
Oil&Gas Drilling
24-02-2020

UAE’s Latest Natural Gas Discovery Is A Gamechanger
The Persian Gulf is, without doubt, the most prominent oil and gas production area in the world. After decades of intensive exploration and production, the region still amaze persistent explorers. Even well-explored countries such as the UAE still hold su
Oil&Gas Drilling
23-02-2020

Saudi Aramco Announces Regulatory Approval of Al-Jafurah Gas Field
Saudi Aramco on Saturday announced the regulatory approval of the development of the Al-Jafurah unconventional gas field in the Eastern Province, the largest non-associated gas field in the Kingdom of Saudi Arabia to date.
Oil & Gas Trade
22-02-2020

US Slaps Sanctions on Russian Oil Company Trading with Venezuela
The Trump administration Tuesday imposed economic sanctions on Rosneft Trading SA, a Geneva-based subsidiary of Russia’s state-owned oil giant, charging it with playing a central role in aiding the government...
Oil & Gas Trade
21-02-2020

Guyana Celebrates 1st Oil Shipment after Major Discovery
Guyana's government on Thursday prepared to sell its first barrels of oil after the discovery of large quantities of oil and gas near the South American country's coast nearly five years ago.
Crude
21-02-2020

Shell Looks To Expand Mars Crude Pipeline System
Shell Midstream Partners LP (NYSE: SHLX) announced that it is considering expanding its 163-mile-long Mars crude oil pipeline in the Gulf of Mexico, the company said in a Thursday earnings call, as the current system nears capacity according to Reuters.
Oil & Gas Trade
20-02-2020

Sanctions on Rosneft Unit Threaten Venezuela’s Vital Oil Trade
U.S. sanctions on Rosneft Trading SA threaten to hit Venezuela’s ability to export oil, choking off the main source of cash for Nicolas Maduro’s regime and potentially threatening supplies to Asia, it’s dominant market.

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