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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
03-12-2021

U.S. May Delay Oil Reserve Release
The United States might adjust the timing of the release of some 50 million barrels of crude oil from the strategic petroleum reserve depending on the direction of oil prices, Reuters reported, citing Deputy Energy Secretary David Turk.
Crude Oil
03-12-2021

Opec+ Agrees to Continue January Oil Output Increase Amid Omicron Uncertainties
The producers' group, led by Saudi Arabia and Russia, will bring 400,000 barrels per day to the market next month as planned
Crude Oil
03-12-2021

Acelen to Boost Runs at Newly Acquired Brazil Refinery
Abu Dhabi state-owned Acelen plans to step up crude throughput at its newly acquired 333,000 b/d Mataripe refinery in Brazil to meet growing demand in the country's thirsty northeast region.
Crude Oil
03-12-2021

Production Starts at Angola’s Clov 2 Oil Project
Crude production has started at the Clov 2 project in block 17 offshore Angola, the second new deepwater development to come on stream in the west African country in the space of a week.
Natural Gas
03-12-2021

Australian LNG Exports Hit Record High in October
The record volumes and higher prices also accounted for record LNG export receipts for the month, according to the latest official data.
Oil&Gas Drilling
03-12-2021

TotalEnergies Spuds Namibian Ultra-Deepwater Well
French energy major TotalEnergies has started drilling the ultra-deepwater Venus-1X exploration well located offshore Namibia, using a Maersk Drilling-owned drillship.
Natural Gas
03-12-2021

Samsung Engineering Secures US$1.23bn Gas Development Project in Saudi Arabia
Samsung Engineering announced on Dec. 1 that it has signed a US$1.23 billion contract with Saudi Aramco for the Jafurah Gas Process Package #1 Project.
Natural Gas
02-12-2021

Hyundai Engineering Consortium Wins KRW2tr Gas Plant Project in Saudi Arabia
Hyundai Engineering announced on Nov. 30 that it has won a super-large gas plant construction project worth about 2 trillion won from Saudi Arabia’s state-run oil company Aramco.
Crude Oil
02-12-2021

Saudi Arabia May Raise January Oil Prices to Asia
Top oil exporter Saudi Arabia may raise crude prices for Asia in January following large gains in the Middle East spot market last month
Natural Gas
01-12-2021

Natural Gas Plunges 11% as U.S. Weather Forecast Stifles Demand
Natural gas futures plummeted 11% in the U.S. as forecasts shifted warmer through the middle of next month, allaying concern about tight domestic supplies amid a global shortage of the heating fuel.
Crude Oil
01-12-2021

Guyana To Become The 11th Country To Produce Over 1 Million Bpd
The tiny South American nation of Guyana has emerged as the hottest offshore drilling location on the continent over the last six years.
Oil Price
01-12-2021

Oil Prices Projected To Hit $125 In 2022
In a new report from JP Morgan, analysts are predicting $125 oil next year and $150 oil in 2023
Natural Gas
01-12-2021

Sound Energy Enters Gas Sales Agreement for Morocco’s Phase 2 Tendrara Development
The agreement covers the sale of natural gas from the Tendrara Concession in Eastern Morocco over a 10-year period.
Natural Gas
01-12-2021

Egyptian Gas Should Start Flowing to Lebanon in the Next 3 Months, U.S. Energy Envoy Says
The governments of four countries in September reached an agreement to pipe gas from Egypt, through Jordan and Syria, to ease the power crisis in Lebanon.
Coal Gasification
30-11-2021

China’s Longest Coal-Bed Methane Pipeline Completes, Adding New Momentum to Natural Gas Supply
The Shanxi-Hebei section of the coal-bed methane pipeline starts from Lüliang in Shanxi and reaches Hengshui in Hebei, spanning a total length of 548.95 kilometers and a total capacity of 5 billion cubic meters per year.
United States
30-11-2021

More Gulf of Mexico Work for Seadrill Rigs
While working to emerge from Chapter 11, offshore drilling contractor Seadrill has secured more work for its rigs in the U.S. Gulf of Mexico and added about $0.5 billion to its backlog in the period after the end of the third quarter of 2021.
CNOOC
30-11-2021

CNOOC Fires up Buzzard Expansion Project in North Sea
Chinese oil and gas giant CNOOC Limited has started production from the Buzzard Phase II development located offshore in the UK sector of the North Sea.
Oil & Gas Trade
30-11-2021

Iran Signs Gas Swap Deal with Turkmenistan, Azerbaijan
Iran has signed a tripartite agreement with neighbours Azerbaijan and Turkmenistan to facilitate the movement of gas between the two countries.
Crude Oil
30-11-2021

U.S. Strategic Oil Reserves Could Fall By 50% Over The Next Decade
The U.S. strategic petroleum reserve could drop by 304 million barrels over the next 10 years according to the EIA
Crude Oil
30-11-2021

Iran Plans To Boost Oil Production To 5 Million Bpd
Iran is determined to return to its pre-sanction oil production level of 5 million barrels per day, regardless of how the nuclear deal develops
Oil Price
29-11-2021

Biden’s Blunder Could Send Oil Prices To $100
Oil prices may have crashed below $70 on Friday due to renewed Covid fears, but if those fears prove to be unfounded then oil prices could soar
Crude Oil
29-11-2021

Iran Seeks to Return Oil Output to Pre-Sanction Levels
Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions.
Natural Gas
29-11-2021

Largest Natural Gas Storage Begins to Supply Gas to West-East Gas Pipeline
China's largest natural gas storage facility, the Hutubi gas storage under CNPC in Northwest China's Xinjiang Uygur Autonomous Region, began to supply gas to the West-East Gas Pipeline on Friday
Oil Field
29-11-2021

BP Brings Field Offshore Angola on Stream
Oil major BP has started production at the Platina field in Block 18, which is located in the Angolan offshore, approximately 140 kilometres northeast of Luanda.
Crude Oil
27-11-2021

Brazil’s Oil Major Plans To Invest $68 Billion In Boosting Production
Brazil’s Petrobras plans to invest $68 billion in expanding its crude oil production, a figure that represents 84 percent of its total planned investments for the period 2022-2026.

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