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Oil & Gas
Shell Delivers First Gas from Barracuda Project
China Taps Into Crude Reserves To Curb Oil Price Rally
The world’s top oil importer, China, has started to release more than 20 million barrels of crude oil from its strategic reserve in a move seen as seeking to curb the recent oil price rally.
U.S., Germany Strike a Deal to Allow Completion of Controversial Russian Nord Stream 2 pipeline
The United States and Germany reached an agreement to allow completion of the $11 billion Nord Stream 2 pipeline, a thorny, long-standing point of contention between the otherwise stalwart allies.
Goldman Cuts Q3 Brent Forecast to $75 a Barrel
Oil prices fell $5 a barrel on Monday in response to fears over the hit to demand from rising Delta coronavirus infections and an OPEC+ agreement to boost output.
Oil Prices Inch Even Lower Following Devastating 7% Single-Day Loss
After plunging nearly 7% on Monday, oil prices saw a leveling off and even a smidgeon of a rebound on Tuesday in what many hope will be a new state of calm in the market.
U.S. Crude Oil Exports Reached Record Levels in 2020, Remain High in 2021
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020.
Japan’s Toho Gas Starts Carbon-Neutral City Gas Supply
Japanese gas distributor Toho Gas plans to start carbon-neutral city gas supplies as a part of its effort to achieve decarbonisation by 2050.
Sapref to Restart Durban Refinery
BP and Shell's South African joint venture Sapref will restart its 180,000 b/d Durban refinery tomorrow after a temporary shutdown last week in response to civil unrest in KwaZulu-Natal and other parts of the country.
BHP Considering Exiting Oil and Gas Business
Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels.
Pakistan, Russia Sign Gas Pipeline Agreement
The governments of Pakistan and Russia have signed a preliminary agreement for the construction of the 16.5bn m³/yr Pakistan Stream Gas pipeline, which could allow regasified LNG to reach the northern part of the country.
Oil & Gas Supply
Brazilian Gas Availability up by 4.5pc in June
The amount of Brazilian natural gas output offered to the market after flaring, loss and reinjection rose by 4.5pc in June from a year earlier and by 1.7pc from the prior month, to 58mn m³/d.
B.C. Fracking Fields Emit 1.6 to 2.2 Times More Methane than Federal Estimates
Methane emissions from British Columbia oil and gas fields are 1.6 to 2.2 times higher than the federal government is estimating, according to yet another study that contrasts actual measurements from airborne monitoring
OPEC+ is Boosting Oil Production, Ending Dispute that Shook Energy Markets
OPEC+ agreed to increase oil production Sunday, as demand roars back and prices surge, ending a dispute between the United Arab Emirates and Saudi Arabia.
I3 Energy Finishes Drilling Second Oil Well at Canada Project
i3 Energy PLC said Thursday that drilling operations on the second well at the Marten Hills Clearwater drilling program in Canada have been completed, with production from both wells expected to begin in late July.
OPEC Sees World Oil Demand Reaching Pre-Pandemic Level in 2022
OPEC said that that demand next year would rise by 3.4% to 99.86 million barrels per day, averaging more than 100 million bpd in the second half of 2022.
China & Nord Stream-2 Top Agenda As Biden Meets Merkel
The two sides are hoping to mend deeply strained relations ahead of Germany's election in ten weeks.
China's Crude Oil Runs Hit Record Highs in June
China's crude oil throughput hit a record high in June, rising 3.9% on a daily basis from the previous record set in May as more refineries resumed operations after maintenance.
Iraq Signs Al Faw Refinery Deal with China's CNCEC
Iraq has decided to award a long-awaited contract to build a new 300,000 b/d integrated refining and petrochemicals complex on the southern Al Faw peninsula to Chinese state-owned engineering company CNCEC.
Oil Prices Drop After Saudi-UAE Reach Output Compromise
The deal between the two Gulf producers means that members of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will be able to extend a deal to curb output until the end of 2022, the sources said.
Oil Falls Slightly Despite Crude Draw
The American Petroleum Institute on Tuesday reported a draw in crude oil inventories of 4.079 million barrels for the week ending July 9, bringing the total 2021 crude draw so far to 50.01 million barrels, using API data.
OPEC+ Deadlock is Bad News for Oil Producers and Consumers, IEA Warns
The International Energy Agency on Tuesday warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation.
Gas Import Options Expanding for China
China is poised to become the top global liquefied natural gas importer this year, bypassing current leader Japan
Oil & Gas Trade
Saudi, Oman Call for Continued Oil Cooperation Between OPEC and Allies
Saudi Arabia and Oman called on Monday for continued cooperation between OPEC and other allied producers to stabilise and balance the oil market.
U.S. Drilling Approvals Increase Despite Biden Climate Pledge
The Interior Department approved about 2,500 permits to drill on public and tribal lands in the first six months of the year
Nord Stream 2 Targets August for Completion of Baltic Pipelay Work
Eponymous project's operator assures the pipeline will be fully certified and ready to pump Russian gas to Germany before end of year
Japan to Remain Committed to Oil and Gas Development Projects
Japan will remain committed to upstream oil and gas developments and plans to boost its ratio of equity oil and gas as it expects the fuels to play a key role in the country’s energy transition and 2050 carbon neutrality pathway, a senior government offic
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Erdogan: Turkey will Continue Oil Exploration in Disputed Eastern Mediterranean
Opec+ Might not Meet Until August: Saudi Oil Minister
Oil Pipeline Explosion Kills 3 In Iran
U.S. Refining Capacity Shrinks by 4.5% in 2020
CNOOC and Petronas Signed a 10-year LNG Supply Agreement
POSCO International to Develop Gas Field in Indonesia