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Petroleum
Crude Oil
US Suspends Plans to Buy Crude Oil for the Strategic Petroleum Reserve
The US administration has suspended plans to purchase US crude oil for the Strategic Petroleum Reserve (SPR), after failing to secure funding from the Congress,…
Saudi Arabia Has Assured India of Uninterrupted LPG Supply: Dharmendra Pradhan
India's oil minister said on Sunday he would continue to supply the country with liquefied petroleum gas.
Oil & Gas Trade
Australia's Woodside Slashes $2 bln in Spending, Delays Key Gas Projects
Woodside Petroleum has halved its 2020 spending forecast and delayed the start of two of its biggest gas projects.
Oil Price
Not Even The $2 Trillion Stimulus Package Can Save Oil Markets
The package would provide $2 trillion in funding, allocated directly to the White House’s plan which includes purchasing 77 million barrels of oil for the Stra…
Shale Gas
Do Saudi Arabia And Russia Really Want To Kill U.S. Shale?
Since 2016, as an informal leader of the 13-strong non-OPEC group, Russia has been instrumental in the pricing of oil as Saudi Arabia, leading producer in the O…
Asia Pacific Petroleum Conference
The Asia Pacific Petroleum Conference is the meeting place for the global oil industry and will deliver market-driven discussions from industry powerhouses, mix…
Oil Price
US Seeks $3 Billion to Boost Oil Producers as Prices Plunge
The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping u…
Crude
U.S. Could start Buying Crude for Strategic Petroleum Reserve in two Weeks
The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several month…
Crude
Australia Inks Deal With U.S. for Access to Strategic Petroleum Reserve
Australia said it will sign a deal with the U.S. this week giving it access to crude oil from to America’s Strategic Petroleum Reserve during an emergency.
Oil&Gas Drilling
Shell and ExxonMobil Plan for Exploration of Blocks Offshore Somalia
The Ministry of Petroleum and Mineral Resources of Somalia has agreed on an initial roadmap with the Shell/ExxonMobil joint venture focused on the next steps to…
Oil and Gas Technology
China National Petroleum Corporation Completes First Medical Mask Production Line
22 days of hard work, day and night scientific research, non-stop construction...On February 29, the first batch of six production lines for surgical masks was …
China National Petroleum Corp names Li Fanrong as New General Manager
China National Petroleum Corp (CNPC) said on Friday that Li Fanrong had been appointed as new general manager of the group, the company said in a statement post…
Oil & Gas Trade
Iran to take Part in OPEC Meeting in March
Oil Minister Bijan Namdar Zanganeh said that Islamic Republic of Iran will participate in upcoming meeting of the Organization of Petroleum Exporting Countries …
Oil Price
Oil Prices Jump 2% as Virus Vaccine Reports Spur Hope
Also supporting oil was news that the Organization of the Petroleum Exporting Countries (OPEC) and its producer allies were considering further output cuts to c…
Oil&Gas Drilling
Exxon Signs Deals With Egypt For Oil, Gas Exploration in East Mediterranean
Exxon Mobil and Egypt have signed two oil and gas exploration deals in the Eastern Mediterranean, the Egyptian Ministry of Petroleum said on Tuesday, weeks afte…
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