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Oil & Gas
Gas Turbine
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Crude Oil
16-03-2022
Brazil Assures US it will Increase Oil Production
The Brazilian government on Monday (Mar 14) assured the United States it will increase its oil production, a decision that could help ease concerns over global crude supply after Russia’s invasion of Ukraine.
Natural Gas
16-03-2022
US Gas Exports Can ‘Easily’ Replace Russian
The global energy market has been suddenly upended by Russia’s invasion of Ukraine, but one energy boss says the US could step in and help shore up global supplies.
Crude Oil
16-03-2022
BP may Take $25 Billion Hit from Divestment from Russian Oil Company
BP expects to lose up to $25 billion, more than a fourth of its market capitalization, after divesting from its 19.75% stake in the Rosneft oil company in Russia over the country's invasion of Ukraine.
Crude Oil
16-03-2022
Will India Buy Discounted Russian Oil?
While many countries have already sanctioned Russian oil and gas, India is reportedly considering buying crude oil from Russia at a discount.
Crude Oil
16-03-2022
Japan to Sell Additional 1.89 Mil Barrels Hout Crude From National Reserves
Japan plans to sell an additional 300,000 kiloliters, or 1.89 million barrels, of Hout crude from its national petroleum reserves via a public tender in April.
Crude Oil
16-03-2022
Norway’s Equinor Not Entering Any New Trades for Russian Oil
Following the beginning of the process to exit its projects in Russia, Norwegian state-owned oil and gas player Equinor has now also decided to stop trading in Russian oil and oil products.
Oil & Gas Trade
16-03-2022
India Taking up Russian Discounted Oil Offer Will Not Be US Sanctions Violation, Says White House
India taking up Russia's offer of discounted crude oil would not be a violation of American sanctions, the White House has said.
Oil Price
16-03-2022
WTI Crude Dives Below $100 on China Demand Concern
WTI crude dived more than five percent Tuesday to fall back below $100 a barrel as concerns about a possible slowdown in China's economy lead investors to rethink their expectations for demand.
Oil Price
16-03-2022
Wall Street Stocks Rally, Oil Prices Fall Ahead of Fed Meeting
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 8, 2022. REUTERS/Brendan McDermidThe three main Wall Street stock indexes rallied on Tuesday, a day before an expected interest rate hike by the U.S. Federal Res
Natural Gas
16-03-2022
Greece to Launch New Gas Trading Hub on March 21
A new Greek natural gas trading platform will go live on March 21, enhancing interconnectivity and supply security in the region amid volatility on global markets.
Oil Price
16-03-2022
Indian Govt to Make Calibrated Interventions to Keep Fuel Prices Under Control
Minister of State for Finance Pankaj Chaudhary said crude petroleum and natural gas, fuel & power subgroup in the Wholesale Price Index is directly related to the fluctuations in the prices of crude oil.
Oil Shale
16-03-2022
US Shale Still Finding Footing amid Market Chaos
US shale players are not eager to significantly increase oil and natural gas production despite growing calls from the political set to boost supply in response to Russia’s invasion of Ukraine.
Crude Oil
16-03-2022
Saudi Considering China’s Yuan for Oil Purchases
Saudi Arabia and China have been growing closer for years, and the news comes at a time of frustration among Gulf states with the US.
Oil Exploration
15-03-2022
Deep-Water Exploration Permits Attract Attention in Australia
Offers submitted for nine exploration blocks of which six are off the south-east coast
Crude Oil
15-03-2022
Brent Crude Down Almost 6% but Still Above US$100 a Barrel
Brent crude was off almost 6% but remained above US$100 barrel with a potential cessation to violence in Ukraine helping quell sentiment-driven panic price rises.
Natural Gas
15-03-2022
After more than a Week, Gas is Still Leaking on the North Slope
Ten days after a natural gas leak was discovered at its Alpine oil development on Alaska’s North Slope, ConocoPhillips is still trying to identify the exact source and says it’s warming up a drilling rig that it could use to pinpoint it.
Crude Oil
15-03-2022
Oil Terminal Blast In Nigeria Takes Production Offline
An oil terminal was shut down in Nigeria after an attack caused a blast on the facility, and the operator of the terminal declared force majeure that will see crude production falling by 25,000 bpd
Crude Oil
15-03-2022
Global Crude Oil Prices Extend Losses Ahead of Fed Meeting
Brent crude futures were last down by $3.05 or 2.7% at $109.62 a barrel at 0351 GMT on Monday.
Natural Gas
15-03-2022
Lukoil Strikes Gas at a Caspian Structure, but Major Oil Prospect Proves to be a Mirage
Russian producer was hoping for a much-needed boost in oil reserves within large licence block in Russian sector of the Caspian Sea
Oil Exploration
15-03-2022
Drilling Firm Challenging Denial of Oil Exploration Efforts in Big Cypress Swamp
Burnett Oil Co. did not have a rendering of its proposed exploratory oil drilling facility it might build in the Everglades should permits be granted. This is a photo of another company’s oil drilling operation in the Big Cypress Swamp Preserve in 2015.
Natural Gas
15-03-2022
Average US Gas Price Rises 22% in Two Weeks to Record $4.43
The average U.S. price of regular-grade gasoline shot up a whopping 79 cents over the past two weeks to a record-setting $4.43 per gallon (3.8 liters) as Russia's invasion of Ukraine is contributing to already-high prices at the pump.
Crude Oil
15-03-2022
Rising US Oil Clout on Show in Houston
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics.
Crude Oil
15-03-2022
Petroecuador Plans to Double Oil Output in Next Five Years. Target Set at 800,000 Boed
Petroecuador, Ecuador's state-owned oil company, on Friday said it will look to double production to 800,000 barrels of oil equivalent per day (boed) in the next five years, which will need private sector investment worth some $12 billion.
Crude Oil
15-03-2022
China's Jan-Feb Daily Crude Oil Throughput Falls to Lowest Since End-2020
China's daily oil processing rate dropped 1.1% in the first two months of 2022 from a year ago, to the lowest since December 2020, as independent refiners scaled back operations after Beijing slashed their crude oil import quotas.
Oil Field
15-03-2022
Bohai Sea Oilfield Output Exceeds 500 Million Tons
The Bohai Sea oilfield, China's largest crude oil base, had produced a cumulative total of oil equivalent exceeding 500 million tons as of Monday, after it has been in operation for more than 50 years.
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