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Oil & Gas Trade
Refined Oil Product Freight Rates Nearly Double in a Week
Refined oil tanker rates surged this week to their highest level in 11 years.
Crude Oil
In Rare Development, Oil Majors Are Forced To Cut Output Under OPEC Deal
A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its…
Oil & Gas Trade
Nigeria's Oil, Gas Exports Hit $5.1bn in One Year - NNPC
The Nigerian National Petroleum Corporation (NNPC) has said that the country exported oil and gas worth about $5.18 billion in the last one year, spanning betwe…
CNPC
CNPC Starts Building a 5.6 bcm Gas Storage Project in Xinjiang (China)
China National Petroleum Corporation (CNPC) has started to build the Wenjisang gas storage cluster project in Tuha Oilfield in the Xinjiang Uygur Autonomous Reg…
Crude Oil
Trump Says "Looking to" Add 75 mln Barrels of Oil to Strategic Petroleum Reserve
U.S. President Donald Trump said on Monday that the United States is "looking to" add 75 million barrels of oil to its Strategic Petroleum Reserve (SPR) as oil …
Oil & Gas Trade
Australia Says First in Line to Buy Crude to Store in US Strategic Reserve
Australia is at the head of the queue to buy oil and store it in the US Strategic Petroleum Reserve.
Crude Oil
BPCL Kochi Refinery Takes Steps to Maintain Petroleum Products Supply
Although the COVID 19 outbreak hit demand for gasoline, diesel, fuel oil, asphalt, aviation turbine fuel (ATF) and other petroleum products.
Crude Oil
India Dips in to Weakened Crude Market to Fill up its Strategic Oil Reserves
Ministry of petroleum and natural gas has mandated ISPRL to work closely with public sector oil companies including MRPL to achieve the target of filling up Man…
Oil&Gas Drilling
Qatar Starts Expansion Drilling At World’s Largest Gas Field
Qatar Petroleum has started the development drilling campaign of the North Field East Project to expand the production capacity of the world’s biggest natural …
Oil Price
Oil Prices Sink On Record Breaking 19.2 Million Barrel Crude Build
A day after the American Petroleum Institute estimated crude oil inventories had added more than 13 million barrels, the Energy Information Administration confi…
Oil & Gas Trade
Crude Cuts: Nigeria to Earn $10.61bn in Eight Months
Nigeria may earn about $10.61bn from crude oil sales between May and December this year following latest decision by members and non-members of the Organisation…
Oil&Gas Drilling
Non OPEC+ Crude Oil Supply Cuts
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd).
Floating Offshore Wind
Norwegian Authorities Approve Equinor's Hywind Tampen Wind Farm Plan
Norway's Ministry of Petroleum and Industry has approved Equinor’s plans to build and operate the Hywind Tampen floating offshore wind farm, situated in the No…
LNG
Qatar Petroleum: Coronavirus Turmoil Will not Stop LNG Expansion Abroad
Qatar Petroleum is pressing ahead with foreign as well as domestic expansion despite the global market turmoil caused by the coronavirus pandemic.
Oil Shale
U.S. Shale Company Whiting Becomes First Major Bankruptcy of Oil-Price Crash
Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil pric…
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