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Oil
Oil Field
Lukoil to Operate Offshore Area 4 Project in Gulf of Mexico
PJSC LUKOIL announced the entry into an agreement to acquire the 50% operator interest in the Area 4 project in Mexico through the acquisition of the operator’…
Crude Oil
Oil Prices Climb as U.S. Reports Rapidly Declining Crude Stockpiles
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season.
Oil Price
$70 Oil Isn’t Enough To Stabilize Iraq Right Now: Moody’s
Iraq’s economy will strengthen this year as a result of higher oil prices but this will not be enough to stabilize it over the long term, according to Moody’s…
Oil Refinery
First Overhaul After the Modernization of the Shymkent Refinery is Completed
Shymkent Refinery is the Pearl of China-Kazakhstan Energy Cooperation Project
LNG
CNOOC and Petronas Signed a 10-year LNG Supply Agreement
The transaction is valued at approximately US$7 billion.
LNG Carrier
The Suez Canal Blockage: Impact on the LNG Shipping Marke
The first half of 2021 witnessed an impressive volatility of the LNG shipping market.
Nuclear Reactor
BWRX-300 Deployment and Commercialisation MoU Signed
Cameco Corporation, GE Hitachi Nuclear Energy and Global Nuclear Fuel-Americas have announced a Memorandum of Understanding to explore potential collaboration t…
OPEC
Opec+ Might not Meet Until August: Saudi Oil Minister
Saudi Arabia's oil minister Abdulaziz bin Salman has conceded the Opec+ coalition's next meeting could take place no sooner than August, as an ongoing clash wit…
Oil Field
POSCO International to Develop Gas Field in Indonesia
POSCO International will push for the development of a large-scale oil and gas field in Indonesia following Myanmar.
Oil Pipeline
Oil Pipeline Explosion Kills 3 In Iran
Iranian media report that an explosion that started at a pump house in the country’s southwest tore through oil and gas pipelines, killing three people and inj…
United States
US Oil Prices Soar To 6-Year High In OPEC Standoff
The U.S. benchmark oil price WTI Crude hit its highest level since November 2014 early on Tuesday, after OPEC+ on Monday called off its third attempt to reach a…
Crude Oil
Oil and Dollars: Why the UAE is Risking a Falling-out with OPEC+
The UAE agreed with the other 22 OPEC+ members that monthly output cuts should be eased by 400,000 barrels a day from August, but said the extension should be t…
CCS
Sinopec Launches China's First Megaton CCUS Project
China Petroleum & Chemical Corporation announced on July 5 that it will start the construction of China's first megaton carbon capture, utilization and storage …
Mexico
Mexican Oil Giant Says No Environmental Damage from Raging Gulf Fire
Just days after video of a massive ocean surface blaze near a Pemex oil platform in the Gulf of Mexico went viral, Mexico's national oil company has declared th…
Oil Price
Oil Prices Jump to Multiyear Highs After OPEC+ Talks Yield No Production Deal
Oil jumped to its highest level in nearly three years on Monday after talks between OPEC and its oil-producing allies were postponed indefinitely, with the grou…
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