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Oil & Gas Trade
Saudi Arabia and Iraq Agree to Intensify OPEC Cooperation
The ceiling compares with Iraq’s actual production of over 4 million bpd in April.
Russian Federation
Novak Steps Down as Russian Energy Minister
Russia's long-serving energy minister Alexander Novak, who oversaw the country's participation in the Opec+ agreement, is stepping down after more than eight ye…
Oil & Gas Trade
OPEC Would Miss 'Friend Trump', Wary of Strains Under Biden
Biden could modify U.S. diplomatic relations with three members of OPEC - de facto leader Saudi Arabia, and sanctioned countries Iran and Venezuela, as well as …
Crude Oil
Iraq Says October Crude Output Exceeds Opec+ Quota
Iraq exceeded its Opec+ crude output ceiling last month, when production rose by 242,000 b/d from September to 3.842mn b/d, according to state-owned marketing f…
Oil Price
Oil Price Headed up Towards $50 per Barrel in 2021: S&P Global Platts
Brent crude, the global benchmark for oil prices, is likely to remain around $40 per barrel in the rest of the current calendar year but could be headed towards…
Energy Investment
Mozambique Gets $50m from OPEC Fund to Support Energy Access
Mozambique will benefit from a loan of $ 50 million from the OPEC Fund, in support of its policy of promoting access to energy.
Oil Price
UAE Cuts 2021 Federal Spending by 5.3% on Low Oil Prices, COVID-19
The UAE, OPEC's third largest producer, lowered its federal spending for 2021 by 5.3% after a record budget this year, the government said Nov. 1, as low oil pr…
LNG
China's CNOOC and Sinopec Issue First LNG Tenders on Shanghai Gas Exchange
China National Offshore Oil Corp and Sinopec Corp issued the first tenders to buy liquefied natural gas on the Shanghai Petroleum and Natural Gas Exchange when …
Crude Oil
OPEC Members Rebel Over Production Cut Extension
Iraq, the United Arab Emirates, and Kuwait - the biggest OPEC producers behind Saudi Arabia – are reportedly not particularly inclined to support a rollover of…
Oil & Gas Trade
Russia’s Crude Oil Exports Drop 8% In January-August
Russia’s crude oil exports dropped by 7.9 percent year over year in the period January to August.
Oil Pipeline
China's Sinopec Completes Qingdao-Nanjing Gas Pipeline Construction
The 536.13-kilometre pipeline, which also connects to the existing Sichuan-East gas pipeline, is expected to help improve energy security in China's eastern dev…
Crude Oil
Putin Leaves Door Open for Opec+ Cuts Extension
Russian president Vladimir Putin says that Opec+ could maintain or even deepen its existing crude production cuts next year, the first time Russia has acknowled…
Video
Sinopec Open Day in Saudi Arabia
This event is the first time that Sinopec has held an overseas cloud open day event, and it is also the last of the first batch of cloud open series activities …
Oil & Gas Trade
Israel And The UAE Sign Historic Oil Deal
Israel and the United Arab Emirates signed this week a preliminary agreement under which crude oil from OPEC’s third-largest producer could be shipped to Europ…
Oil Price
Iraq Sees Oil Prices Recovering In Q2 2021
Currently, the OPEC+ production cuts are delaying oil projects in Iraq.
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