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Oil Price
Petronas Expects a Challenging Year as Q1 Profit Falls about 70 Pct
May 22, declined 4.66 per cent to US$34.38 per barrel.
Solar Power Plant
OPEC Producer Algeria Aims To Build $3.6B Solar Power Projects
OPEC member Algeria plans to install up to US$3.6 billion worth of solar photovoltaic projects to produce renewable electricity for export and for meeting incre…
Oil Price
Canada Energy Minister: Oil Price Recovery will be Gradual
In an interview with Energy Intelligence, Sonya Savage, Energy Minister of Canada's hydrocarbon-rich province of Alberta said, the oil price recovery will be gr…
Oil Field
U.S. Energy Giant ExxonMobil Puts Stake In Azerbaijani Oil Field Up For Sale
ExxonMobil has again put its stake in Azerbaijan’s largest oil field up for sale despite a historic decline in oil prices linked to a decline in consumption du…
Crude Oil
US WTI Crude Futures Rise Above $30/bl
U.S. benchmark WTI crude futures rose above $30 a barrel for the first time in two months.
Oil Shale
U.S. Shale Could Crush the Oil Market Recovery
As the two petro-nations duked it out, the global oil glut ballooned to a massive oversupply and oil storage deficiency that persists today.
Oil Shale
Blackstone Shale Oil Venture Gavilan Resources Files for Bankruptcy
Blackstone Group’s Gavilan Resources LLC filed for Chapter 11 bankruptcy late on Friday.
Crude Oil
Oil Hits One-Month High as Signs of Demand Emerge Amid Coronavirus Crisis
Oil prices jumped more than 3% on Friday, touching more than one-month highs amid signs that demand for crude was picking up with China reporting increased refi…
Oil & Gas Trade
OPEC Says Nigeria's Oil Output Dropped Last Month
The Organisation of Petroleum Exporting Countries, OPEC, has put Nigeria’s oil output, excluding Condensate, at 1.78 million barrels per day, m/bd, in April 20…
Oil & Gas Trade
OPEC Expects Global Oil Demand Hits Biggest Downfall
The Organization of the Petroleum Exporting Countries now expects global demand to contract by 9.07 million barrels per day, or 9.1 per cent, in 2020, it said i…
Oil & Gas Trade
India Oil & Gas Industry Might Need More Time to Recover
Most O&G CXOs believe that the recovery for the sector is likely to be longer, and more protracted than anticipated.
Norway Takes $41 Billion From Oil Fund To Bolster Economy
Norway is set to use a record amount of petroleum revenues from its US$1-trillion oil fund – the world’s largest sovereign wealth fund – this year to counter…
Oil Price
Oil Jumps After Saudi Arabia, UAE And Kuwait Pledge Deeper Cuts
Oil prices rose early on Tuesday after OPEC's Middle East heavyweights pledged additional cuts, instilling hopes in the market that further production reduction…
Crude Oil
Oil Drops in Early Asian Trading Amid Worries about Second Wave Pandemic
Oil prices fell in early Asian trading on Wednesday after industry data showed a rise in U.S. crude inventories and concerns mount about a possible second wave …
Oil Price
Aramco Earnings Plunge By 25% As Low Oil Prices Persist
Despite the profit slump of US$6 billion in Q1, Aramco’s free cash flow was more resilient and fell to US$15 billion from US$17.4 billion in Q1 2019.
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