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Crude Oil
Nigeria’s President Restores Four Drilling Permits Revoked from China’s Addax
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec.
Oil Refinery
SA’s Oldest Refinery, Engen, to be Converted to a Storage Terminal
The Engen refinery in Wentworth is set to be converted into a storage terminal due to low profit margins and a challenging refining environment.
Oil & Gas Trade
Iran: Oil Exports Hit 500,000 Barrels per day
According to a Reuters statement that reveals predictions from tanker tracking firms that Iran’s crude oil exports since the beginning of the month have hit ab…
Oil Refinery
Duqm Refinery Project Marks 80% Progress
Duqm Refinery and Petrochemical Industries Company has announced that the progress in Duqm refinery project exceeded 80 per cent by end of March and increase fr…
Oil Refinery
PetroChina’s Jieyang Refinery Plans Start-up Next Year
Chinese state-controlled firm PetroChina's under-construction 400,000 b/d Jieyang refinery in south China's Guangdong province is targeting a start-up in the fi…
Crude Oil
Rystad Energy Sees Oil Demand Peaking In 2026
The accelerating adoption of electric vehicles and electrification in other oil-consuming sectors is set to bring peak oil demand as early as 2026 at 101.6 mill…
Crude Oil
OPEC+ Unlikely To Drastically Change Oil Pact Next Week
The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months.
Oil Price
Angola May Privatize State-Owned Oil Firm To Boost Production
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing in…
Crude Oil
China Cuts Saudi, Russia Crude Imports in March
China imported less crude from top suppliers Saudi Arabia and Russia in March compared to a month earlier, while boosting arrivals from Brazil and the UAE, cust…
Oil & Gas Supply
Guyana Estimates Future Oil Production At 1 Million Bpd
Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in …
Crude Oil
WoodMac: Oil Prices Could Drop To $10 In 2050
Brent Crude oil prices could fall to $10 per barrel by 2050 if the world accelerates the energy transition with decisive action to achieve the Paris Agreement c…
Crude Oil
BP Halts Production at UK's Foinaven Crude Field
BP said today it has suspended production indefinitely at the Foinaven crude fields west of Shetland as it prepares for the removal of the ageing floating produ…
Crude Oil
U.S. Oil Production Still 2 Million Bpd Under Pre-Pandemic Levels
The EIA might be forecasting that the Permian Basin’s oil production will be rebounding soon, but overall, today’s U.S. oil production is still 2 million barr…
Oil Price
Crude Oil will Climb Above $70; Energy Security could Reappear on the Radar
Crude oil prices could shift higher again once the market shakes off the latest bout of coronavirus jitters
Crude Oil
Brazil Crude Exports at Eight-Month High in March
Brazilian crude exports climbed to around 1.54mn b/d in March, an almost 17pc increase over February and the highest volume since July 2020.
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