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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
24-08-2019

U.S. Crude Oil Rig Count Plunges To Near 2-Year Low
The US oil and gas rig count fell sharply on Friday, decreasing by 19 for the week, according to Baker Hughes. The total oil and gas rig count now stands at 916, or 128 down from this time last year.
Oil and Gas Technology
23-08-2019

The Iraq-Turkey Oil Pipeline Dispute: Opportunity in an Arbitration
Fatigue and frustration aside, U.S. focus and engagement in Iraq remains critical to the national- and energy-security interests of the United States and its allies. Iraq has increased its oil production by more than half since 2012.
Oil&Gas Drilling
23-08-2019

U.S. Sanctions Deadline is Threatening to Clobber Venezuela's Dwindling Oil-Rig Fleet
A looming U.S. sanctions deadline is threatening to clobber Venezuela’s dwindling oil-rig fleet and hamper energy production in the nation with the world’s largest crude reserves.
LNG
22-08-2019

The African LNG Market Holds 7.1% of Proven Global Gas Reserves
Africa is an exciting frontier in the global natural gas sector. On the demand side, Africa’s large, urbanised and industrialised societies of the future will require reliable and sustainable power generation.
Oil & Gas Trade
22-08-2019

World's Biggest Oil Hedge May Not Happen After All
Despite its track record for turning a sizable profit from its super-secret oil hedge, Mexico may not go through with its massive hedge this year, according to Mexico’s Deputy Finance Minister Gabriel Yorio.
Oil Price
22-08-2019

US Refined Product Stocks Build Higher than Expected
Oil prices slipped on Thursday, paring earlier gains, weighed down by lingering worries about the global economy and bigger-than-expected builds in oil product inventories in the United States, the world's biggest oil consumer.
Crude
22-08-2019

Oil Prices held Steady After the Energy Information Administration
Oil prices held steady on Wednesday morning after the Energy Information Administration today reported a draw of 2.7 million barrels in crude oil inventories.
Oil & Gas Trade
21-08-2019

Brazil Contracts 1.14 Billion Litres in The 68th Biodiesel Auction
Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Tuesday that almost 1.14 billion litres (301.15m gallons) have been contracted in the 68th biodiesel auction.
Crude
21-08-2019

BP and Glencore are Struggling to Sell Around Tainted Russian Oil
BP and Glencore are struggling to sell around 600,000 tonnes of tainted Russian oil more than three months after the contamination was discovered, according to six trading sources.
Oil & Gas Trade
21-08-2019

Washington' s Decision to Reimpose Sanctions on all Purchases of Iran' s Crude
The United States has removed nearly 2.7 million barrels of Iranian oil from global markets daily as a result of Washington’s decision to reimpose sanctions on all purchases of Iran’s crude, U.S. Secretary of State Mike Pompeo said on Tuesday.
Crude
21-08-2019

How Much Crude Oil Has The World Really Consumed?
The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top 10 consumers accounting for 60 percent of the total consumption. That’s nearly 100 million barrels per day.
Oil & Gas Trade
20-08-2019

U.S.-China Trade Tensions would Ease and on Hopes, Crude Oil Prices held mostly Steady
Crude oil prices held mostly steady on Tuesday on optimism that U.S.-China trade tensions would ease and on hopes that major economies would enact stimulus measures to counter a possible global economic slowdown that could affect oil demand.
Oil&Gas Drilling
20-08-2019

CNOOC Acquires 55.55% Interest in Svenska’s Acreage Off Guinea-Bissau
FAR Limited has approved the Request for Transfer of Interest from Svenska Petroleum Exploration GB of a 55.55% participating interest in the highly prospective Sinapa and Esperanca petroleum licences offshore Guinea-Bissau.
Oil & Gas Trade
20-08-2019

The US Conveyed its“Strong Position” to the Greek Government about an Iranian Tanker
The United States has conveyed its “strong position” to the Greek government about an Iranian tanker that sailed for Greece on Monday after it was freed from detention off Gibraltar and Washington says is carrying oil to Syria.
Oil Price
19-08-2019

US and China Provided Some Volatility to Crude Prices
Crude oil futures were higher during mid-morning trade in Asia Monday, finding support from OPEC's latest monthly oil market report while uncertainty on the ongoing trade tensions between the US and China also provided some volatility to crude prices.
Oil & Gas Trade
19-08-2019

The Iranian Oil Tanker has Departed From Gibraltar after the British Overseas Territory
The Iranian oil tanker at the center of a diplomatic dispute has departed from Gibraltar after the British overseas territory rejected a US demand to seize the vessel, which is hauling $130 million worth of light crude oil.
Oil&Gas Drilling
19-08-2019

OPEC Oil Production Dips on , Saudi Arabia, Nigeria, Others' Cuts
The Organisation of Petroleum Exportig Countries (OPEC’s) crude oil production fell by another 246,000 barrels per day (bpd) last month compared to June.
Shale Gas
19-08-2019

UK Government Has Authorised the Commencement of Fracking in Lancashire
The UK government under recently-appointed Prime Minister Boris Johnson has set out its position on hydraulic fracturing, also known as fracking, and allowed Cuadrilla Resources to resume fracking at its site in Preston New Road, Lancashire.
Shale Gas
16-08-2019

Russian Giant Gazprom Saw the Highest Production Growth
Russian giant Gazprom saw the highest production growth over the last five years, followed by shale gas players in the US and China, while BP dominates among the majors, according to Rystad Energy.
Oil&Gas Drilling
16-08-2019

What is Hydraulic Fracturing？ A Controversial Source of Energy
The US is the world leader in fracking and natural gas in the world. Fracking, also known as hydraulic fracturing, is a common target for environmental protestors due to its propensity to cause miniature earthquakes and use up vast amounts of water.
Oil&Gas Drilling
16-08-2019

NNPC Called on the Chinese Government to Increase its Investment in the Nigerian Petroleum Industry
The Nigerian National Petroleum Corporation, NNPC, Thursday, called on the Chinese government to increase its investment in infrastructural development in the Nigerian petroleum industry.
Oil & Gas Trade
15-08-2019

An Iranian Oil Tanker Seized by British Royal Marines will be Released
Gibraltar Chief Minister Fabian Picardo said that the Grace 1 would be released on Thursday, adding that Gibraltar authorities would not renew the order to detain the oil tanker.
Oil & Gas Trade
15-08-2019

How Do U.S. Sanctions Affect the Sector?
In January the United States imposed sanctions on Venezuela’s most important global business - producing and selling crude oil, which accounts for more than 95 percent of the country’s export revenue.
Oil & Gas Trade
15-08-2019

IEA Warns Global Oil Situation is Becoming Even More Uncertain
Mounting signs of an economic slowdown and a ramping up of the US-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said on Friday.
Oil&Gas Drilling
14-08-2019

The Upheaval in the UK North Sea Looks Set to Continue with US Oil
The upheaval in the UK North Sea looks set to continue with US oil and giant ExxonMobil reported to be considering exiting the area after more than 50 years.

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