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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
24-07-2019

NNPC Signed a $3.15billion Agreement for the Development of Oil Mining Lease 13
The Federal Government’s dream to attain 40 billion oil reserves received a boost yesterday, as the Nigerian National Petroleum Corporation, signed a $3.15billion Financing and Technical Services Agreement for the development of Oil Mining Lease 13.
Oil & Gas Trade
23-07-2019

China’s Foreign Ministry Said that it Strongly Opposes U.S. Sanctions
China’s foreign ministry said on Tuesday that it strongly opposes U.S. sanctions on a Chinese energy firm for allegedly violating restrictions imposed on Iran’s oil sector.
Oil & Gas Trade
23-07-2019

The International Energy Agency is Closely Monitoring Developments in the Strait of Hormuz
The International Energy Agency is closely monitoring developments in the Strait of Hormuz, including the recent seizure of a UK-flagged oil tanker, and stands ready to act if needed, Trend reports citing the IEA.
Crude
23-07-2019

Oil Prices Edged Higher Amid Lingering Concerns About Possible Supply Disruptions
Oil prices edged higher on Tuesday amid lingering concerns about possible supply disruptions in the Middle East, but an overall weaker demand outlook kept a lid on gains.
Crude
23-07-2019

China Trade War and the Growth of American Oil Supply will Keep Crude Prices in Check
China trade war and the growth of American oil supply will keep crude prices in check, not with standing Middle East tensions, according to the head of one of India’s biggest refiners.
Oil & Gas Trade
23-07-2019

Japan will Continue Importing Crude Oil from the Middle East
Japan will continue importing crude oil from the Middle East despite escalating tensions in the Strait of Hormuz, but will also make efforts to diversify supply sources, Minister of Economy, Trade and Industry Hiroshige Seko said Tuesday.
Oil & Gas Trade
23-07-2019

U.S. Sanctions Chinese State Energy Company Zhuhai Zhenrong Co. Ltd. for Buying Oil From Iran
In an address at an event in Florida on Monday, U.S. Secretary of State Mike Pompeo said that the United States has blacklisted Chinese state energy company Zhuhai Zhenrong Co. Ltd. for allegedly buying oil from Iran.
Oil&Gas Drilling
22-07-2019

NOC Declared on Saturday Force Majeure on Sharara Crude Shipments
A field engineer said Libya’s Sharara field resumed production on Monday after it closed on Friday due to valve closure.
Oil & Gas Trade
22-07-2019

Britain has Called Iran's Capture of the Stena Impero is a "hostile act"
Iran's ambassador to Britain warned against escalating tensions on Sunday as a UK official declined to rule out sanctions in response to Tehran's seizure of a British-flagged oil tanker.
Crude
22-07-2019

Crude Oil Futures Rising as Geopolitical Tensions Intensified
Buoyed by renewed supply concerns on mounting geopolitical tensions in the Middle East, after Iran seized a UK chemical tanker and briefly detained a UK-owned VLCC in the Strait of Hormuz Friday.
Oil & Gas Trade
22-07-2019

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports
Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world’s biggest buyer.
Crude
22-07-2019

China Imported 5 Million Tonnes of Crude Oil From Myanmar
China imported 5 million tonnes of crude oil via the China-Myanmar oil and gas pipeline in the first half (H1), up 2.7 percent year on year, hellenicshippingnews.com reported quoting Kunming Customs in southwest China’s Yunnan Province.
Oil & Gas Trade
22-07-2019

Iran Says Tanker Incidents Have Not Impacted Its Oil Exports
Britain has called Iran's capture of the Stena Impero in the Gulf on Friday a "hostile act" and rejected Tehran's explanation that it seized the vessel because it had been involved in an accident.
LNG
20-07-2019

Italian and Chinese Majors Vie for Pakistan's Mega LNG Tender
Italian oil major Eni, China’s overseas energy unit PetroChina and two trading houses are vying to supply liquefied natural gas (LNG) to Pakistan in a tender worth billions of dollars.
Coal Power
19-07-2019

Germany is Renouncing Nuclear and Coal
Germany, a poster child for responsible energy, is renouncing nuclear and coal. The problem is, say many power producers and grid operators, it may struggle to keep the lights on.
Oil&Gas Drilling
19-07-2019

The U.S. Offer 77.8 Million Acres Sale for Oil and Gas Exploration and Development in the Gulf of Mexico
The proposed sale will be the fifth offshore sale under the US Administration’s Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022. The US Bureau of Ocean Energy Management (BOEM) is planning to offer 77.8 million acres in lease sale.
Oil & Gas Trade
19-07-2019

Chinese Oil Refiners Want Changes to Tax Laws on the Consumption and Sale of Fuel Oil
Chinese oil refiners want changes to tax laws on the consumption and sale of fuel oil in order to start producing low-sulphur marine fuel when new global clean fuel rules start in 2020, four executives at Chinese oil companies said this week.
Oil&Gas Drilling
19-07-2019

An Canadian Oil Platform Spilled Nearly 3,200 Gallons of an Oil-water Mix into the Atlantic Ocean
An oil platform off the Canadian island of Newfoundland spilled nearly 3,200 gallons of an oil-water mix into the Atlantic Ocean, and efforts were underway to minimize the environmental impact, ExxonMobil said Thursday.
Oil&Gas Drilling
19-07-2019

US Gas in Storage Increased to 2.533 Tcf
The US Energy Information Administration on Thursday reported a 62 Bcf build to US natural gas storage for the week ending July 12, marking the first bullish report from the agency during this injection season.
Shale Gas
18-07-2019

Argentina's Surging Shale Oil Production is Feeding More Supplies
Argentina's surging shale oil production is feeding more supplies to the country's refineries, helping to increase run rates, the Neuquen government said Wednesday.
Oil & Gas Trade
18-07-2019

Gas is Not a Profitable Business and It is a Byproduct Now
Bakken producer Northern Oil and Gas chief financial officer Nick O'Grady described natural gas as "a byproduct" Wednesday, as exploration and production companies target the most oil-rich wells in order to boost internal rates of return.
Oil Price
18-07-2019

Oil Prices were Sent Crashing as the Oil Markets Fear a Resolution of Tension in the Middle East
Oil prices were sent crashing on Wednesday afternoon after a Politico report that US Senator Rand Paul may soon sit down at the negotiating table with Iranian Foreign Minister Javad Zarif in an effort to smooth heightened tensions between the two nations.
Crude
18-07-2019

US Crude Inventories Fell 3.1 Million Barrels, the EIA Said
Oil prices steadied on Thursday after falling in the previous session when official data showed United States (US) stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.
Oil & Gas Trade
18-07-2019

China Exported 1,536 Tons of Refined Oil to North Korea in May
The May figure brought China's cumulative supply of refined oil products to the North to 5,730 tons this year, the report posted on the website of the sanctions committee on North Korea showed.
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.

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