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Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

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.
Oil & Gas Trade
11-07-2019

Iran’s Islamic Revolutionary Guard Corps have Denied Stopping British Oil Tanker
There were “no encounters” between the Iranian warships and foreign vessels at the time when the alleged incident took place, the IRGC’s naval unit said in a statement on Thursday, cited.
Oil & Gas Trade
11-07-2019

Ignoring The U.S. Sanctions, Iran Still Provides Oil Futures Contracts to Foreign Partners
Iran is going to offer up to three-year oil future contracts for certain international buyers in an effort to offset the impacts of U.S. sanctions on its oil exports.
LNG
10-07-2019

The European Commission' s Latest Reports on Gas and Electricity Markets Covering the First Quarter of 2019
The European Commission’s latest reports on gas and electricity markets, which cover the first quarter of 2019, have just been published, containing a wide range of data about supply and usage of electricity and gas in the EU.
LNG
09-07-2019

Putin's Answer To The U.S. Shale Boom: Highly Valued！
Russia's current development of the Arctic region is centred around the Yamal Peninsula and led principally Novatek but further developments are in the offing from Gazprom and Gazprom Neft, even in the face of current and future U.S. sanctions.
Oil & Gas Trade
09-07-2019

A British Oil Tanker has Stopped its Journey Through the Strait of Hormuz
A British oil tanker has stopped its journey through the Strait of Hormuz for fear of being seized by Iran in response to the capture of an oil tanker by UK forces last week.
Crude
08-07-2019

Oil and Gas Remained Part of Key Solutions in Combating Climate Change
The Organisation of the Petroleum Exporting Countries said on Monday that it believes oil and gas remained part of key solutions in combating climate change.
Oil & Gas Trade
08-07-2019

Iran's Oil Minister: US, not Iran, Threatens World's Energy Security
Iran's oil minister says the world's energy supply is threatened by the United States, not Iran which is a major guarantor of energy stability and peace in the region.
Shale Gas
08-07-2019

Is OPEC Truly Losing the Shale War?
Wishful thinking aside, is OPEC truly losing the shale war? Is OPEC really stuck in an endless supply cutting cycle it can’t get out of?
Oil & Gas Trade
08-07-2019

A tanker Damaged by Iran's Bombing Has Reopened
According to ship tracking data compiled, the Andria Victory is sailing in the northern Gulf and has listed Iran's Bandar Imam Khomeini as its destination.
LNG
05-07-2019

Tight Storage Prompts Guangdong Energy to Receive LNG Cargo through Double Discharge
China's Guangdong Energy received an LNG cargo via separate discharges at the Dapeng and Diefu LNG terminals in Shenzhen Tuesday, as soft LNG demand left limited storage capacity on the terminals, a source with close knowledge of the matter said.
Shale Gas
05-07-2019

Shale Industry Has Destroyed 80% Of Its Value Since 2008
"The fact is that every time they put the drill bit to the ground, they erode the value of the billions of dollars of previous investments they have made," said Steve Schlotterbeck.
05-07-2019

This Oil Major Says Net Zero Emissions Is ‘The Only Way To Go’
The world needs to get to the point at which it will no longer add to the stock of greenhouse gases, and reducing emissions to net zero “is the only way to go,” Shell’s chief executive Ben van Beurden said in a speech at The Energy Summit near London.
Oil & Gas Trade
04-07-2019

New Report Says Liquefied Natural Gas is The New Coal
It seems that the international boom in liquefied natural gas (LNG) is not the best news for the climate. A newly released report called “The New Gas Boom,” from Global Energy Monitor, says that LNG isn’t an environmentally friendly product that will help
Oil & Gas Trade
04-07-2019

India Says its Relations with Iran not Influenced by Any Third Country
"India's bilateral relations with Iran stand on their own and are not influenced by India's relations with any third country," Minister of State for External Affairs V Muraleedharan said in a written reply on Wednesday.
Oil & Gas Trade
04-07-2019

US Weighing Extension of Iran Oil Waiver after China's Defiance
The US State Department is seriously considering using an Obama-era loophole to allow China to import oil from Iran, violating the Trump administration’s earlier pledge to bring Iranian oil exports down to zero, a report said.
Oil and Gas Equipment
04-07-2019

Repurposing Old Oil Tankers As Renewable Energy Hubs
ShipEco Marine has a better idea — cut large holes in the hull of these behemoths, build watertight silos inside, and let the waves passing beneath them compress the air inside those silos.
Oil and Gas Technology
04-07-2019

British Gas Improves Overall Customer Experience with ‘On my way’ Platform
UK utility British Gas has commissioned a messaging and location technology developed by LocalZ to improve customer experience and overall efficiencies.
Oil & Gas Trade
03-07-2019

OPEC Formally Embraces Russia, Other Non-Members In Expanded
OPEC used to shift world oil markets with a single announcement. These days, the Saudi-led organization needs help from some key partners — most significantly Russia — to exert that kind of influence.
Crude
03-07-2019

Huge Zimbabwe Oil, Gas Potential for Invictus, Findings Show
INVICTUS Energy Limited (IEL) says findings by a United Kingdom-based firm show a potential of 1,3 billion barrels of oil-equivalent, which consists of 200 million barrels of condensate.
Oil & Gas Trade
02-07-2019

America's Liquefied Natural Gas Boom May be on a Collision Course with Climate Change
The US energy industry is scrambling to build dozens of expensive export terminals that can be used to ship cheap natural gas to China and other fast-growing economies that want to move away from coal.
Oil & Gas Trade
01-07-2019

Iran Warns 'unilateralism' between Saudi Arabia and Russia could Lead to the Death of OPEC
Iranian Oil Minister Bijan Zanganeh believes "unilateralism" among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group. OPEC is set to debate an extension of oil production cuts when it meets on Monday, before
Oil Price
01-07-2019

Crude Oil Futures up More Than 2% as OPEC Looks to Extend Supply Cuts
Crude oil futures soared by nearly 2% during mid-morning trade in Asia Monday as OPEC and its allies look to extend their supply cut agreement at a time of growing geopolitical tensions in the Middle East.

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