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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
27-11-2021

Equinor Shifts Oseberg Output Focus Towards Gas
Norwegian state-controlled Equinor has submitted plans to develop the Oseberg field to become a "substantial gas producer", having been primarily an oil field.
Crude Oil
27-11-2021

Brent Price Slides Amid Covid Concerns Ahead of Key Opec+ Meeting Next Week
Futures in London slid towards $80 a barrel as crude was swept up in a wave of caution across global markets
Oil Price
26-11-2021

Goldman Says Oil Prices Already Account for a Joint SPR Release
The White House’s push for releases of oil from national reserves is already fully priced into the market following the drop in crude prices in recent weeks
Crude Oil
26-11-2021

Opec's ECB Mulls 66mn bl SPR Release in Jan-Feb
An Opec advisory committee has been considering the possibility that as much as 66mn bl could be released from the strategic reserves of key oil-consuming countries in the first two months of next year, exacerbating an expected global supply surplus.
Oil Field
25-11-2021

Daily Natural Gas Supply of Deep Sea No.1 Gas Field Hits 10 million Cubic Meters
China’s first self-operated deep-water gas field exploration facility, Deep Sea No.1 built by China National Offshore Oil Corp in the South China Sea, is already able to supply 10 million cubic meters a day.
Crude Oil
25-11-2021

Barclays Lifts Brent Oil Price Forecast To $80 In 2022
Brent Crude prices are set to average $80 a barrel in 2022, Barclays said on Tuesday, raising its forecast by $3 as it expects slower supply growth next year and faster inventory drawdown by the end of this year.
Crude Oil
25-11-2021

Russia’s Oil Reserves Are Becoming Increasingly Hard To Recover
Nearly all of Russia’s oil production will consist of the so-called hard-to-recover crude reserves unless the country speeds up and incentivizes exploration
Natural Gas
24-11-2021

China's Sinopec Raises Daily Gas Supply by 10 million cu m to Cope with Cold Snap
Chinese state-owned oil and gas major Sinopec has increased daily natural gas supply to the north of the country by more than 10 million cubic meters in a bid to meet demand from local residents and enterprises amid cold weather
Energy Technology
24-11-2021

China: New Sinopec Downstream Technology Process Developed
China's Sinopec has developed a steam-cracking technology to convert oil directly into high-demand petrochemical products such as ethylene and propylene, cutting costs and production times as well as significantly reducing carbon emissions.
Natural Gas
24-11-2021

Jonah, PureWest both Reach Natural-Gas Milestones
Separately, Jonah Energy and PureWest are announcing milestones in the privately held companies’ quests to market responsibly sourced natural gas.
Crude Oil
24-11-2021

Biden Announces Global Effort to Ease Energy Costs
US president orders 50 million barrels of oil to be released from nation's strategic petroleum reserve
Oil&Gas Drilling
24-11-2021

Lukoil Strikes Oil in Waters off Mexico
Russian oil and gas company Lukoil has made an oil discovery within the Yoti West structure at Block 12 located offshore Mexico.
Oil Price
23-11-2021

Global Oil Prices Retreat in Face of Supply and Demand Pressures
Brent crude was down 56 cents, or 0.7%, at $78.33 a barrel at 1157 GMT and U.S. West Texas Intermediate crude fell 54 cents, or 0.7%, to $75.40.
Oil Field
23-11-2021

Repsol Shuts in Yme Field Only Weeks After Start-Up
Spanish oil and gas company Repsol has been forced to halt production from its Yme field off Norway, less than a month after the oil production started.
Natural Gas
23-11-2021

BHP, Woodside Agree on $12 billion Australian Gas Project
BHP Group and Woodside Petroleum Ltd. approved investment in a $12 billion Australian gas project as the companies also confirmed details of a merger to combine their energy assets.
Crude Oil
23-11-2021

OPEC Considers Lowering Production to Account for Oil Reserve Releases
OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a co-ordinated release of their strategic petroleum reserves.
Crude Oil
23-11-2021

Colombia Desperately Needs To Ramp Up Its Oil Production
The COVID-19 pandemic has taken a particularly harsh toll on Colombia’s economically-dependent oil and gas industry.
Oil & Gas Trade
23-11-2021

Saudi Retains Top Spot Among China Oil Suppliers
Saudi Arabia has remained China’s number-one crude oil supplier.
Oil Field
22-11-2021

Iran, Azerbaijan Eye Joint Development of Oil and Gas Fields in Caspian Sea
Iran and Azerbaijan, members of the OPEC+ alliance, are looking at finalizing "soon" a number of energy deals, including joint development of an oil field in the Caspian Sea, Iranian oil minister Javad Owji said Nov. 21.
Oil Refinery
22-11-2021

Refinery Closures About To Happen In Europe
Shell plans to end crude processing at the Wesseling site within the Rhineland refining complex in 2025 as the facilities are repurposed for non-fossil fuel feedstocks and renewable hydrogen production.
Oil Price
22-11-2021

Japan PM Confirms Oil Reserves May Be Released to Curb Prices
Japan is considering releasing oil from its reserves for the first time to curb surging oil prices.
Crude Oil
21-11-2021

OPEC+ Pumped Less Oil Than Agreed In October
The OPEC+ group’s compliance rate with the oil production cuts rose to 116 percent in October from 115 percent in September,
Crude Oil
20-11-2021

China Begins Releasing Oil from Its Strategic Reserves
China is releasing some oil from its strategic reserves days after the U.S. invited it to participate in a joint sale, suggesting the world’s two biggest oil consumers are willing to work together to keep a lid on energy costs.
Crude Oil
20-11-2021

EIA Sees Brent Oil Price Falling To Average $72 In 2022
EIA: Crude oil prices are set to decline next year from the current levels of around $80
Natural Gas
19-11-2021

Lukashenko would not Dare Cut Gas Supplies to EU without Kremlin’s Permission
Belarus’ authoritarian President Alexander Lukashenko threatened to cut gas supplies to Europe transiting his country if the European Union imposed further sanctions in response to the migrant crisis created by Belarus at its border with Poland.

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