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Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
30-07-2019

US Sanctions Have Taken 95% of Iranian Crude Oil Exports Off The World Market
In an appearance at The Economic Club of Washington, DC, Pompeo said sanctions, which were fully imposed in May, have had seemingly no impact on global crude oil prices.
Oil & Gas Trade
29-07-2019

Britain' s Seizure of an Iranian Oil Tanker in Gibraltar is a Violation of the Nuclear Deal
Britain's seizure of an Iranian oil tanker in Gibraltar is a violation of the 2015 nuclear deal, Abbas Araqchi, a senior member of the team who negotiated the deal and a deputy foreign minister, said on Sunday, according to the ISNA news agency.
Oil & Gas Trade
29-07-2019

China’s Customs Authorities Show Iranian Oil Imports Declined Further in June
The latest figures issued by China’s customs authorities show Iranian oil imports declined further in June reaching a low of 208,205 barrels per day, down 60 percent from June 2018.
Oil&Gas Drilling
29-07-2019

Is the United States Really Energy Independent?
Like Iran, we have a refinery problem. Is the United States really energy independent? Is Iran? As the two nations inch toward confrontation, the complexity of those questions is worth considering.
Oil&Gas Drilling
29-07-2019

Natural Gas Flares are Still Wasteful and Environmentally Harmful
When companies drill for oil, the process can also release natural gas (primarily composed of methane) as a byproduct, called associated gas. For safety reasons and to release pressure in the system, the associated gas needs to be removed.
Shale Gas
27-07-2019

Harmful Air Emissions Could Increase From Shale Gas Production
Harmful air emissions could increase from shale gas production through fracking in Europe, despite natural gas releasing fewer pollutants than other fossil fuels, according to a new study.
Oil&Gas Drilling
27-07-2019

Oneok to Boost Bakken Gas Processing Plant's Capacity by 200 MMcf/d
In order for the Bakken Shale to continue growing oil production, natural gas capture and processing capacity must catch up to the increasing volumes of the associated product.
Oil & Gas Trade
26-07-2019

Saudi Arabia is Looking to Raise the Capacity of its East-West Oil Pipeline to 7 Million Bpd
Saudi Arabia, the world’s top crude oil exporter and the largest oil producer in OPEC, is one of the few oil producers in the Middle East that have some alternative to the narrow Strait of Hormuz between Iran and the UAE and Oman in the Persian Gulf.
Oil & Gas Trade
26-07-2019

Excess Output and Slowing Domestic Demand Forces China to Export Petrol Cargoes
A wave of new production and slowing domestic demand have forced China to export petrol cargoes to Nigeria and Mexico as the Asian country ramps up petrol exports in July and August to near record levels.
Oil&Gas Drilling
26-07-2019

America' s Biggest Owner of Drilling Rigs Said Shale Drilling Fell the Most in Seven Months
Three months ago, when Helmerich had 220 of its rigs hired out, CEO John Lindsay told investors the second quarter would be the nadir for his fleet. But after the number of Helmerich rigs at work shrank to 214 a few weeks ago.
Oil & Gas Trade
26-07-2019

Venezuela Opposition Divided by Proposal for Iraq-Style 'Oil-for-Food' Program
A proposal to modify U.S. oil sanctions on Venezuela to allow crude exports to be bartered for food has divided the country’s opposition between those who say the move would stave off famine and those who predict President Nicolas Maduro would abuse it.
Oil&Gas Drilling
25-07-2019

Conservation Groups have Sued the Trump Administration
Conservation groups have sued the Trump administration for leasing roughly 4,200 acres of public lands for oil and natural gas drilling and helium fracking in northern Arizona without any environmental reviews, Kallanish Energy reports.
Oil and Gas Equipment
25-07-2019

Saudi Aramco will Reducing Reliance on Hormuz by Finishing Pipeline Expansion
Saudi Aramco expects to complete the expansion of an oil pipeline that runs east-west across the country by September, increasing the amount the kingdom can ship from the Red Sea and avoiding the increasingly tense Strait of Hormuz.
LNG
25-07-2019

India to Drive the Capacity Growth of LNG Regasification Industry in Asia, Oceania
India is expected to drive capacity growth in Asia and Oceania’s liquefied natural gas (LNG) regasification industry from planned and announced (new-build) projects between 2019 and 2023.
Crude
25-07-2019

The Extension of the OPEC+ Oil Production Cuts will Impact the Economies of Arab
The extension of the OPEC+ oil production cuts into 2020 will impact the economies of the key Arab oil producers, according to a quarterly Reuters poll of 30 economists, who revised down their growth expectations for the Gulf economies.
Oil & Gas Trade
25-07-2019

China’s Relationship with Iran is Being Put to the Test After US Sanctions
China’s relationship with Iran is being put to the test after US president Trump slammed sanctions on Chinese state-run energy company Zhuhai Zhenrong for allegedly violating restrictions imposed on Iran’s oil sector.
Oil&Gas Drilling
25-07-2019

Eni has Made a Gas and Condensate Discovery in Offshore Vietnam
Eni said the exploration well was plugged and abandoned before reaching target depths due to "technical issues" leaving further target rock for future testing that "could hold significant additional resources."
Oil & Gas Trade
24-07-2019

Iran Foreign Minister Said Iran will Use its Best Efforts to Secure the Strait of Hormuz
Iran will secure the Strait of Hormuz and not allow any disturbance in shipping in the key oil transport waterway, Iranian Deputy Foreign Minister Abbas Araqchi said on Tuesday during a visit to Paris, the state new agency IRNA said.
Oil&Gas Drilling
24-07-2019

Qatar Petroleum Enters Offshore Blocks Of Kenya
State-owned oil firm Qatar Petroleum announced Tuesday the acquisition of interests in three blocks in offshore Kenya, Kallanish Energy reports.
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.

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Oil Prices Post 3% Annual Decline