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Oil & Gas
Petrobras on New Well in Búzios Field
Petrobras has confirmed oil of excellent quality with the drilling of well 9-BUZ-48D-RJS, located in the extreme northwest of Búzios field in the Santos Basin.
Oil & Gas
Russia’s Crude Oil Exports Drop 10% In January-October
Due to lower demand and the OPEC+ deal, Russia’s crude oil exports declined by 10.4 percent in volume year over year in January to October, data from the Russi
Oil & Gas
China Issues Higher Oil Import Quotas For 2021
China has issued the first round of crude oil quotas for next year, and it is 18 percent higher than the respective round for 2019, citing unnamed sources in th
Oil & Gas
India's Crude Oil Production Slips 5 pc in November
Crude oil production in November at 2.48 million tonnes was lower than 2.61 million tonnes produced in the same month a year back
Oil & Gas
Oil Tumbles As New Virus Strain Revives Demand Fears
Oil prices tumbled on Monday as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked wor
Oil & Gas
OPEC+ Plans To Meet More Frequently To Discuss Oil Market Balancing
OPEC+ will take a more hands-on approach to global oil markets now that it plans to meet more frequently, citing the leaders of the group, Saudi Arabia and Russ
Oil & Gas
China Issues 122.59 mln T in 1st Round of Oil Import Quotas
Beijing had said inThe ZPC plant last month started operations at a 200,000 barrel per day (bpd) crude processing unit.
Oil & Gas
China's Top Refiner Sees Oil Product Demand Peak By 2025
China's largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, citing Sinope
Oil & Gas
ONGC Opens Eighth Hydrocarbon Producing Basin of India
State-owned Oil and Natural Gas Corporation on Sunday opened India's eighth hydrocarbon producing basin when it started oil flow from a well in the Bengal basin
Oil & Gas
Belarus Suspends Klaipeda Oil Product Exports
Belarus appears to be halting oil product exports through the Lithuanian port of Klaipeda in what may be a politically-motivated move.
Oil & Gas
Putin: Russia Reduces Its Dependence On Oil
Russia is successfully weaning itself off oil revenues, President Vladimir Putin said today during an annual end-of-the-year news conference, as quoted by RT.
Oil & Gas
Oil Jumps On Crude Inventory Draw
Crude oil prices rose today after the Energy Information Administration reported a crude oil inventory decline of 3.1 million barrels for the week to December 1
Oil & Gas
OPEC President: OPEC+ Shouldn’t Hurry To Ease Oil Output Cuts
The OPEC+ group of producers must continue to calibrate the easing of its collective oil production cuts to the still fragile global oil demand in the pandemic.
Oil & Gas
OPEC Cuts 2021 Oil Demand Outlook Again as Pandemic Impact Lingers
Global oil demand will rebound more slowly in 2021 than previously thought because of the lingering impact of the coronavirus pandemic, OPEC said on Monday, ham
Oil & Gas
Oil Production Cuts to End in Norway on December 31st
Throughout this year, Norway imposed oil production cuts to push up oil prices, as was reported by the Petroleum and Energy Ministry of the country.
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