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Oil

Crude Oil
Iraq Pledges to Deepen Oil Output Cuts in August, September
Iraq said on Friday it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the …
Oil & Gas Trade
US Slashes Nigerian Oil Imports by 11.67m Barrels
The United States slashed its imports of Nigerian crude oil to 9.37 million barrels in the first five months of this year, 11.67 million barrels lower than what…
Australia
After Abandoning Coal, Suncorp will Phase Out Oil and Gas Financing
One of Australia’s largest insurers Suncorp has announced a significant retreat from fossil fuels, declaring it will not directly finance or insure new oil and…
Russian Federation
Gazprom Neft profit slumps 80% in Q2
Russia's Gazprom Neft, the oil business of state gas company Gazprom, said weak oil prices had driven a near 80% slump in second-quarter net profit to 22 billio…
Coal-Fired Power Plants
How a Coal Plant Works
Coal-fired plants produce electricity by burning coal in a boiler to produce steam.
Crude Oil
India’s July Crude Imports Fall to Decade Low
India's crude imports hit a decade low in July, falling by a record 36pc or 1.67mn b/d on the year because of a nationwide Covid-19 lockdown and sliding refinin…
Crude Oil
Angola Oil Output to Fall Below 1.2mn b/d by 2023: ANGP
The agency predicts a slight rebound next year but expects the growth to be short-lived.
Oil&Gas Drilling
World’s Largest Offshore Rig Owner Files Bankruptcy
UK-based offshore drilling contractor Valaris has filed for bankruptcy protection in the United States, offering creditors to swap some $6.5 billion of its $7.8…
United States
High-Stakes Presidential Race Casts Cloud Over Future of US Shale
There is much at stake for the US shale oil industry in the forthcoming US presidential race. History shows us that the oil and gas industry did not prosper und…
Oil & Gas Trade
Libya to Export Only Oil Accumulated in Terminals, LNA Says
Libya, following the resumption of the operation of oil facilities, will export only oil accumulated in port terminals, crude produced at deposits will not be e…
Market Analysis
Origin Braces for Tougher Year as Virus Hammers Energy Markets
Australian power giant Origin Energy is bracing for a tougher-than-expected year ahead as lower wholesale electricity prices erode profits and the oil price cra…
Oil&Gas Drilling
OPEC+ Stresses Need for All Members to Comply with Output Cuts
The outcome of the meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) on Wednesday was as predicted.
Nigeria
NPDC Planning 500,000 barrel of Crude Oil Per Day
Group Managing Director of the Nigeria National Petroleum Corporation, Mele Kyari, has assured that the Nigeria Petroleum Development Company will scale up its …
Top 15 Country with the Largest Oil Reserves (1980-2018)
Top 15 Country with the Largest Oil Reserves (1980-2018).
Crude Oil
Storage Levels for Crude Oil are Starting to Decline as Economies Recover
As economies reopen, oil stocks in Cushing have been drawn down to 52 million barrels since its peak of 65 million in May.

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