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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
07-02-2020

US DoE Aims to Double Oil and Gas Production Rates
Fossil energy secretary puts his faith in technological development to boost output and CCUS to ultimately reduce emissions.
Oil & Gas Trade
07-02-2020

ExxonMobil Exports Second Crude Cargo from Guyana
Guyana’s second crude oil shipment left ExxonMobil’s Liza Destiny platform Wednesday and is heading to Panama.
Oil & Gas Trade
06-02-2020

Sinopec Provides Free Natural Gas for Makeshift Hospital in Wuhan
China Petrochemical Corporation (Sinopec), China's largest oil refiner, started to provide free natural gas Tuesday for Leishenshan hospital, one of the makeshift hospitals for novel coronavirus patients in Wuhan.
Oil Price
06-02-2020

Oil Prices Jump 2% as Virus Vaccine Reports Spur Hope
Also supporting oil was news that the Organization of the Petroleum Exporting Countries (OPEC) and its producer allies were considering further output cuts to counter a potential squeeze on global oil demand.
Crude
06-02-2020

Rosneft Inks Deal with India’s Top Refiner on up to 2 MILLION Tons of Crude Supplies
The signing took place during Rosneft CEO Igor Sechin’s visit to New Delhi.
Oil & Gas Trade
06-02-2020

US says Cyprus has Key Role in East Med Energy
Washington believes Cyprus has a key role to play in East Med energy supply but warned all sides not to create further instability in the region as tensions run high over Turkey’s illegal drilling activity.
Oil & Gas Trade
05-02-2020

Petrobras Selling Offshore Field and Blocks in Brazil
Petrobras said on Monday that these transaction were in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.
Market Analysis
04-02-2020

UK Regulator Ofgem Launches Decarbonisation Plan
The UK Government’s Office of Gas and Electricity Markets (Ofgem) has set out its plan to bring the country’s emissions to net zero.
Oil&Gas Drilling
04-02-2020

BP Produces First Oil from Alligin Field Off UK
Oil major BP has announced early production from the Alligin field located in the west of Shetland region, offshore the UK.
Oil & Gas Trade
04-02-2020

Coronavirus could Push Global Oil Market into Surplus
Almaty. February 4. KazTAG - The coronavirus outbreak could curb oil demand growth if it continues to spread, leading to an extended production surplus as production grows in Brazil, Norway and the US, Fitch Ratings says.
Oil & Gas Trade
04-02-2020

Oil Bankruptcies Are Reaching Worrying Levels
Law firm Haynes and Boone recently released its updated Energy Bankruptcy Reports. These reports cover North American oil and gas producers, oilfield services and midstream bankruptcies from the beginning of 2015 through 2019.
Oil & Gas Trade
04-02-2020

OPEC+ Considers 500,000 Bpd Cut In Emergency Meeting
The OPEC+ group of producers are said to be considering deepening the cuts by another 500,000 bpd, due to depressed oil demand amid the virus outbreak, OPEC and industry sources told Reuters on Monday.
LNG
04-02-2020

Papua LNG to Advance Despite PNG Halting Talks
Papua LNG project is expected to advance with certain modifications following the halt in negotiations between the JV partners and the PNG government over P’nyang gas field agreement.
Oil & Gas Trade
04-02-2020

PNG Government Walks Away from Gas Talks with Exxon
According to Reuters, the government of Papua New Guinea (PNG) has ended talks with Exxon Mobil Corp. regarding a key gas project, putting plans to double gas exports from PNG in doubt.
Oil & Gas Trade
03-02-2020

OPEC and Ally Russia to Discuss Oil Price Fall After Coronavirus Epidemic
OPEC members and their ally Russia will convene a technical meeting this week to analyze oil price falls since the outbreak of a coronavirus epidemic, a source close to the cartel said on Sunday.
Oil & Gas Trade
03-02-2020

China’s Oil Demand Drops 20%
Chinese oil demand has dropped by about three million barrels a day, or 20 per cent of total consumption, as the coronavirus squeezes the economy.
Oil & Gas Trade
03-02-2020

Kuwait and Saudi Arabia Start Work to Resume Oil Output from Khafji – Sources
Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with initial output expected around the end of February, two industry sources said.
LNG
02-02-2020

Nigeria Inks Major LNG Deals with Global Oil Giants
Nigeria has signed a major gas expansion deal, a much-needed collaboration with oil majors that Nigeria LNG said would boost its liquefied natural gas output by more than 30 per cent.
Oil & Gas Trade
02-02-2020

South Sudan Welcomes Russian Firms To Its Oil, Gas Sector
South Sudan believes that Russian companies can help it to develop its oil, natural gas, and refining industries, the foreign minister of the small African oil producer has told Sputnik.
Oil & Gas Trade
01-02-2020

U.S. Lifts Iran Sanctions on One Unit of Chinese Shipping Giant COSCO
The U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.
Oil Price
31-01-2020

U.S. To Become Net Oil Exporter This Year: EIA
The United States will become a net oil and oil product exporter this year thanks to continued growth in production combined with slacker domestic demand, the Energy Information Administration said in its 2020 Annual Energy Outlook.
Market Analysis
31-01-2020

Shell's Oil and Gas Reserve Life Drops for Sixth Year in a Row
The number of years of production left in Royal Dutch Shell's oil and gas reserves fell for the sixth year in a row in 2019 to below eight.
Oil&Gas Drilling
29-01-2020

Exxon Signs Deals With Egypt For Oil, Gas Exploration in East Mediterranean
Exxon Mobil and Egypt have signed two oil and gas exploration deals in the Eastern Mediterranean, the Egyptian Ministry of Petroleum said on Tuesday, weeks after Exxon said it had secured exploration acreage offshore Egypt.
Oil & Gas Trade
29-01-2020

Libya’s Oil Chief Denounces Port Blockades As Crude Output Plummets
Blockades of Libya’s export terminals risk cutting off virtually all of the OPEC member’s 1.2 million barrels per day in crude oil exports, warned the chairman of Libya’s National Oil Company (NOC), Mustafa Sanalla.
Oil and Gas Technology
28-01-2020

Portuguese Tech Institute to Produce Advanced Biofuels From Tree-Pruning-waste
A project to use the waste from pruning vines and fruit trees to produce advanced biofuel is being developed at the BLC3 Campus of Technology and Innovation in Oliveira do Hospital, the campus president said.

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