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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
06-11-2019

UAE Announces New Oil And Gas Reserves in Abu Dhabi
The Supreme Petroleum Council (SPC), the highest energy decision-making authority of the United Arab Emirates, announced on Monday major increases in Abu Dhabi oil and gas reserves.
Crude
05-11-2019

Brazil doesn't yet Know How Much Oil has been Spilled on the Atlantic Ocean
The oil, which began washing up along Brazil’s coast in August, has hit over 300 beaches in nine states of Northeast, many of them popular tourist spots.
Oil&Gas Drilling
04-11-2019

UK Government Will Halt Controversial Fracking Because of Earthquake Fears
The announcement comes after a report by the Oil and Gas Authority (OGA) found it is not currently possible to accurately predict the probability or magnitude of earthquakes linked to fracking operations.
LNG
04-11-2019

Senegal Enters The LNG Race with Significant Offshore Discoveries
At present when it comes to emerging liquefied natural gas (LNG) plays the eyes of the world are on Africa’s eastern coast and the activities around Mozambique, but that could be about to change.
Crude
02-11-2019

Russia: US Smuggling Syrian Oil Worth $30 million a Month
Russia has slammed President Donald Trump's plan to deploy troops into Syrian oil fields as “criminal activity,” accusing the US of seeking to smuggle out oil worth over “$30 million" per month.
Oil Price
02-11-2019

Oil Price can Never Get to above $100 per Barrel in Our Lifetime
Speaking as a guest lecturer at the first convocation ceremony of Edo University, Iyamho, Edo State, Emefiele said, “oil price can never get to above $100 per barrel in our lifetime.
Oil&Gas Drilling
02-11-2019

Russia’s Oil Output Still Exceeds OPEC+ Cap Even as Gap Narrows
Russia’s average daily oil production remained above its OPEC+ target in October, though the compliance gap is the narrowest since the Druzhba crude-contamination crisis earlier this year.
Oil & Gas Trade
01-11-2019

Oil Prices Fall As EIA Reports Large Crude Build
Analysts expected a build of 729,000 barrels for last week after a 1.7-million-barrel draw interrupted a string of five weekly inventory builds, which added more than 19 million barrels to U.S. commercial crude oil inventories.
Oil & Gas Trade
01-11-2019

South Korea's LNG Imports to Fall on New Nuclear, Coal Plants
South Korea’s imports of liquefied natural gas are set to fall over the next five years after reaching record volumes in 2018, squeezed by the start-up of new long-planned nuclear and coal power plants.
Oil & Gas Trade
31-10-2019

Denmark Snubs Trump with Approval of Russian Gas Pipe to Europe
In a major boost for Russia's effort to tighten its grip over natural gas supplies to western Europe, Denmark said it will allow the controversial Nord Stream 2 pipeline to pass through its territory.
Oil & Gas Trade
30-10-2019

BP Eyes Brazil Gas Buildout, May Swap LNG Imports for Domestic Output
BP Plc wants to be part of an effort to build up natural gas infrastructure in Brazil, an executive said on Tuesday, and believes a power plant it is building in Rio de Janeiro could eventually be supplied by gas from offshore oilfields here.
Crude
30-10-2019

Russia Said it’s too Early to Talk about Deeper Output Cuts
Oil held below $56 a barrel after Russia said it’s too early to talk about deeper output cuts, casting doubt on the ability of OPEC and its allies to balance supply against a worsening demand outlook.
Oil & Gas Trade
30-10-2019

South-East Asia may Become Net Fossil Fuel Importer in Coming Years: IEA
Southeast Asia could become a net importer of fossil fuels in the next few years, raising the financial burden on governments and increasing carbon emissions in the region, the International Energy Agency (IEA) warned in a report.
Oil&Gas Drilling
29-10-2019

BP Makes Major Gas Discovery Offshore Mauritania
BP has made a major gas discovery with the Orca-1 well, drilled just south of the BirAllah discovery, offshore Mauritania. With 13 trillion cubic feet (tcf) of gas in place, Orca-1 is the third-largest discovery made so far this year.
Crude
29-10-2019

U.S. Military Envisions Broad Defense of Syrian Oilfields
The United States will repel any attempt to take Syria’s oil fields away from U.S.-backed Syrian militia with “overwhelming force,” whether the opponent is Islamic State or even forces backed by Russia or Syria, the Pentagon said on Monday.
Oil & Gas Trade
28-10-2019

Trump’s Proposal for U.S. Companies to Develop Syrian Oil Faces Hurdles
U.S. President Donald Trump’s suggestion on Sunday that Exxon Mobil or another U.S. oil company operate Syrian oil fields drew rebukes from legal and energy experts.
Oil&Gas Drilling
28-10-2019

OPEC+ will Factor in Weak U.S. Output at December Meeting
Russia’s energy ministry said on Monday that OPEC and its oil-exporting allies would factor in the slowdown of U.S. oil output growth when they meet to discuss their output agreement in December, the TASS news agency reported.
Oil and Gas Equipment
28-10-2019

Spain's ‘Luxurious’ Gas Infrastructure Under the Spotlight
Gas power plants in Spain are running below 25% capacity, according to an investigation published in the Spanish media on Wednesday (23 October), sparking calls from environmentalists to stop funding the country’s “oversized” gas infrastructure.
Crude
27-10-2019

UK Government should Pay for Clean-up of Oil Spill on Fife Beach, Says MSP
The UK Government has been urged to foot the bill for clean-up of an oil spill along the Fife coastline. A massive clean-up operation following the spillage at Limekilns beach in February has cost the local authority £600,000.
Oil & Gas Trade
27-10-2019

Putin Ally Criticizes US Sanctions, American Oil and Dollar Power
September attacks on Saudi oil assets have created doubts about Saudi Arabia's status as a reliable oil supplier, Igor Sechin, Chief Executive of Russia's Rosneft, said.
Shale Gas
27-10-2019

Global Markets are “Awash” in Crude Thanks to the Surge in U.S. Oil Output, Rick Perry Said
Global markets are “awash” in crude thanks to the surge in U.S. oil output, and the boom looks set to continue, U.S. Energy Secretary Rick Perry said in a Bloomberg TV interview.
Oil & Gas Trade
26-10-2019

Russia Affirms Close Oil Cooperation with Saudi Arabia, OPEC+
Russia's energy ministry said on Friday it continues close cooperation with Saudi Arabia and OPEC and non-OPEC oil producers to enhance market stability and predictability.
Oil&Gas Drilling
26-10-2019

Exploration Disappointment for Cnooc West of Shetland
Chinese firm Cnooc has confirmed that its Howick exploration well located west of Shetland was a duster. The company, which has a base in Kingswells, Aberdeen, used the Island Innovator rig to drill the well, starting on August 31.
Oil & Gas Trade
25-10-2019

Norway's New Oil Grade Is Making Inroads in Asia Markets
China’s Unipec, at least one of the nation’s independent refiners and South Korea’s Hyundai Oilbank Co. have bought Johan Sverdrup for December delivery, said traders and refinery officials in Asia.
LNG
24-10-2019

Poland Ready to Halt Import of Russian Gas
Poland is ready to ensure its energy supplies without importing gas from Russia due to the diversification of supplies and increasing LNG imports, Piotr Woźniak, the CEO of Poland’s state gas and oil company PGNiG has said.

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