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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
17-07-2019

Oil And Gas Activity To Recover in Gulf of Mexico After "Barry"
Oil and gas activity is beginning to return to the Gulf of Mexico this week after Hurricane Barry swept through the region and up into Louisiana.
LNG
17-07-2019

The US and China To Be The World's Biggest LNG Exporters And Importers
The United States and China will become the world’s biggest liquefied natural gas (LNG) exporters and importers, respectively, in five years, according to projections by the International Energy Agency (IEA).
Oil & Gas Trade
17-07-2019

IEA Said “It Does Not Change the Fundamental Outlook of an Oversupplied Market”
The extension of the OPEC+ cuts through the first quarter of 2020 removes a major uncertainty, but the IEA said it “does not change the fundamental outlook of an oversupplied market.”
Oil & Gas Trade
16-07-2019

The UK Drop into the Broader Tensions between The U.S. and Iran
The UK move against the tanker, whether directly instigated by the United States or not, immediately drew the UK into the broader tensions between the U.S. and Iran.
Oil&Gas Drilling
16-07-2019

EU Imposes Financial Sanctions on Turkey
EU will halt high-level dialogue with Turkey, suspend talks over aviation deal, cut 145.8 million euros in pre-accession financial funds allocated for 2020.
Crude
16-07-2019

Chevron Spills Nearly 800,000 Gallons of Oil and Water into a California Canyon
Officials began to clean up a massive oil spill Friday that dumped nearly 800,000 gallons of oil and water into a California canyon, making it larger — if less devastating — than the state’s last two major oil spills.
Shale Gas
16-07-2019

Shale Oil And The Illusion of US Energy Independence
U.S. crude oil and energy product exports surged to an all-time high in the third week of June, making the country a net exporter of oil and products for the third time since November 2018.
Oil & Gas Trade
15-07-2019

Kuwait Joint Cooperation Protocol Signed to Protect Key OPEC Exporter’s Ports
Joint cooperation protocol signed to protect key OPEC exporter’s ports to ‘ensure full readiness for any potential emergency’.
Oil & Gas Trade
15-07-2019

The Oil Market will Weigh Fresh Cues on Chinese Demand
Sour crude benchmark Dubai futures' discount to ICE Brent widened slightly in mid-morning trade in Asia Monday, while the market will weigh fresh cues on Chinese demand, which has been driving premiums higher for Middle East barrels in recent days.
Crude
15-07-2019

Crude Oil Futures were Lower During Mid-Morning Trade in Asia
Crude oil futures were lower during mid-morning trade in Asia Monday as markets began to recover from Tropical Storm Barry, while a bearish outlook on oil fundamentals by the International Energy Agency also pushed prices lower.
LNG
15-07-2019

Korea Gas Corp.'s LNG Sales in June Dropped 14%, Due to Weaker Demand for Power Generation
South Korean state-owned Korea Gas Corp.'s LNG sales in June dropped 14% from a year earlier, marking the biggest decline in 32 months, due to weaker demand for power generation.
Oil&Gas Drilling
15-07-2019

Brazil Just Got a Huge New Oil Field
Brazil is petitioning the United Nations to extend its territorial waters to include the new oil field, but opinions are divided as to whether the country needs to wait for approval before it can start drilling.
Oil & Gas Trade
15-07-2019

China's Sinopec Sets Up Fuel Oil Unit in Sri Lanka
China Petroleum and Chemical Corp, known as Sinopec Corp, said on Monday it has set up a fuel oil company in Sri Lanka as it looks to supply fuel to ships along a major maritime route.
Oil & Gas Trade
14-07-2019

Iranian Tanker will be Released if Oil isn't Bound for Syria, UK Foreign Secretary Says
An Iranian oil tanker held by British forces near Gibraltar will be released if the United Kingdom is assured the oil will not be heading to Syria, London's top diplomat said Saturday.
Oil&Gas Drilling
14-07-2019

Chinese Oil Giants Fast-Track Investments to Boost Domestic Output
Will increasing capital spending by the Chinese companies be a winning bet and generate profitable returns, considering the soaring development costs in China’s aging oilfields and declining reserves.
Shale Gas
14-07-2019

OPEC has to Face New Challenges Related to Shale Oil
Has OPEC reached its limits or does it have more breath to continue functioning alone as an independent organization without the need for any outside help?
14-07-2019

Iranian Officials have Threatened to Seize 'a British Tanker' in Response
Iranian officials have threatened to seize 'a British tanker' in response to the arrest of VLCC Grace 1 in Gibraltar last week, allegedly carrying Iranian crude to Syria.
Oil&Gas Drilling
14-07-2019

Hurricane Barry Makes Landfall as Southeast Natural Gas Production hits 2019 Low
Hurricane Barry hit the shores of Louisiana as a Category 1 hurricane late Saturday morning as total Southeast natural gas production fell to its lowest mark of the year, according to Saturday's preliminary estimates.
Crude
13-07-2019

Tropical Storm Barry Reduces Gulf Crude oil Output By 59 Percent
Crude oil output in the U.S.-regulated areas of the Gulf of Mexico has been cut by almost 59 percent, or 1.1 million barrels per day, because of Tropical Storm Barry.
Crude
13-07-2019

Chevron Spills 800,000 Gallons Of Oil, Water In Central California
California authorities are preparing to start cleaning up an oil spill that dumped nearly 800,000 gallons of oil and water into a Kern County canyon.
Oil & Gas Trade
12-07-2019

Iran: The Release of the Tanker is in all Countries' Interest
"This is a dangerous game and has consequences ... the legal pretexts for the capture are not valid ... the release of the tanker is in all countries' interest," the spokesman, Abbas Mousavi, said.
Oil&Gas Drilling
12-07-2019

EU Threatens Sanctions on Turkey over Cyprus Drilling
The European Union is set to curb contacts and funding for Ankara in retaliation for what it calls Turkey’s “illegal” drilling for gas and oil off Cyprus and stands ready to ramp up sanctions further, according to a draft statement.
Crude
11-07-2019

To Avoid Excess Stock Buildup, Saudi Oil Output to Remain Below 10 mil b/d
Saudi Arabia's oil production will remain below 10 million b/d through August and its exports will stay under 7 million b/d to avoid excess stock buildup in an oversupplied market, a Saudi oil source said on Thursday.
Oil & Gas Trade
11-07-2019

Oil Tanker Event Marked the Latest Escalation of Tensions in the Persian Gulf
Britain said Thursday that three Iranian vessels unsuccessfully tried to impede the passage of a British commercial vessel through the Strait of Hormuz, signaling a further escalation of tensions over a 2015 nuclear deal between Iran and world powers.
Gas Turbine
11-07-2019

Siemens To Provide Key Components for 840MW Power Plant in Iraq
Global technology company Siemens has received a contract worth €280m ($313m) to deliver key components and long-term power generation services for the 840MW Maisan combined cycle power plant in Iraq.

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