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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Shale
12-08-2021

Exxon Continues To Shed Shale Assets
ExxonMobil has started marketing gas assets in the Fayetteville Shale in Arkansas, the US supermajor’s spokeswoman Julie King told Reuters on Wednesday.
Crude Oil
12-08-2021

Oil Tanker Explodes In Syrian Port
An explosion on an oil tanker moored at the Syrian port of Latakia caused a fire that has injured two people in an incident on what was identified as a tanker previously used for transporting Iranian oil to Syria.
Crude Oil
12-08-2021

Oil Turns Positive, Clawing Back Losses After White House Calls on OPEC to Boost Production
Oil prices reversed losses to trade in the green on Wednesday, after the White House called on OPEC and its allies to increase oil production to support the global recovery from the pandemic.
Oil Field
11-08-2021

Energy-Starved Bangladesh Discovers New Gas Field Worth Over $148 mn
Bangladesh has announced to have discovered a new gas field containing a probable reserve of about 68 billion cubic feet worth over $148 million
Natural Gas
11-08-2021

China Starts Work on Gas Pipeline for Olympic Venue
Beijing will be the official host of the Games, taking place in February, but some skiing and snowboarding events will take place in Zhangjiakou, some 170 km northwest of the capital.
Oil Field
11-08-2021

First Oil at Norway's Rolvsnes Field
Norway-focused independent Lundin Energy has started crude production from an extended well test at the Rolvsnes field in the Norwegian North Sea.
Crude Oil
11-08-2021

Pipeline Leak Cuts Libya’s Oil Production By 70,000 Bpd
Libya’s crude oil production fell on Monday by 60,000-70,000 barrels per day because pumping crude at an oilfield had to be reduced because of a leak in a pipeline, the National Oil Corporation said.
Crude Oil
10-08-2021

DPR Plans Incentives for Operators, Eyes 50bn Barrels Oil Reserves
According to him, effective implementation of the MER strategies would deliver greater value overall to all stakeholders.
Oil Price
10-08-2021

Oil Slides 4% on China Virus Curbs and Climate Warning
A United Nations panel's dire warning on climate change also added to the gloomy mood after fires in Greece have razed homes and forests and parts of Europe suffered deadly floods last month.
Oil Price
09-08-2021

Aramco Posts Nearly 300% Leap in Second-Quarter Profit as Oil Demand Recovers
Saudi state oil giant Aramco reported a stunning 288% increase in net income to $25.5 billion for the second quarter, while maintaining its dividend of $18.8 billion, as big oil benefits from higher prices and a recovery in worldwide demand.
Crude Oil
09-08-2021

Zanganeh: Iran Prepared to Return to Int’l Oil Market
Iran is ready to return to the international oil market at the highest level when a political agreement is reached between Iran and the world powers, and the unfair US sanctions on the country are lifted, Iran’s outgoing oil minister, Bijan Namdar Zangane
OPEC
09-08-2021

Opec+ Adds Around 700,000 b/d in July
The Opec+ group added 680,000 b/d to its crude output last month, boosted by higher quotas and the end of Saudi Arabia's extra cut.
Oil & Gas Trade
08-08-2021

US June Oil Exports Rise, Boosted by India, South Korea
US crude exports rose by about 28pc in June led by a sharp increase in shipments to India and South Korea.
Oil Exploration
08-08-2021

Enersea Inks FEED Deal with Petrogas Offshore Netherlands
Enersea has secured a front-end engineering and design contract with Petrogas E&P Netherlands for the development of the A15 and B10 gas fields.
Crude Oil
07-08-2021

Oil falls Amid US Inventory Build-up and Mounting Concerns over Delta Variant Surge
Brent and WTI sank 2.8 per cent and 3.4 per cent, respectively, on Wednesday, marking their biggest fall in two weeks
Oil & Gas Trade
06-08-2021

New Zealand's Oil Refinery Set to Convert Into Import Terminal
New Zealand will stop refining crude oil from next year after shareholders in the country's sole refinery greenlighted a plan to convert it to a gasoline-import terminal, stirring debate about fuel security.
Oil Price
06-08-2021

Saudi Aramco Hikes Oil Prices to Asia for Second Consecutive Month
The pricing of Saudi crude oil generally sets the trend for the pricing for Asia of other Gulf oil producers such as the United Arab Emirates, Kuwait, Iraq, and Iran.
Crude Oil
06-08-2021

Libyan Crude Output could Rise 200,000 b/d by Year-End: OMV Executive
Libya has the potential to boost its oil output by as much as 200,000 b/d by the end of the year, depending on the security situation, an executive from Austria’s OMV said.
Oil Refinery
05-08-2021

Revamped Mumbai Refinery to Fully Restart This Month
Indian state-run refiner HPCL will restart the second crude unit at its Mumbai refinery this month following a revamp, having resumed operations at the first in mid-May.
LNG
05-08-2021

Ivory Coast to Build 200 MW LNG Plant, Says Energy Minister
The ministry will share further details on the cost and timeframe for the plant's construction once discussions are concluded, he said
Crude Oil
05-08-2021

Covid Resurgence in China Drives Global Oil Demand Concerns
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market.
Natural Gas
05-08-2021

Gazprom Boosts Gas Exports To Europe In H1 2021
Russia’s gas giant Gazprom boosted its natural gas exports to Europe by 23 percent annually in January to July 2021, Gazprom Export said this week.
Crude Oil
05-08-2021

Shell Could Resume Oil and Gas Exploration in Libya
North Africa’s second-largest oil producer is gradually increasing crude exports after a blockade last year cost it $11bn in lost fiscal revenue
Oman
04-08-2021

Incident with Multiple Tankers in Gulf of Oman Raises Concerns in Oil Market
The status of at least four tankers in the Gulf of Oman is uncertain and another was reportedly hijacked by gunman believed to be from Iran.
Energy Security
04-08-2021

UK Summons Iranian Envoy Following Oil Tanker Attack
In response to Monday's development, Iran has also summoned the British charge d'affaires in Tehran

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Italy’s Eni Discovers Major Gas Reserves off Borneo in Indonesia

Oil Companies in Norway to Drill 18% Fewer Exploration Wells in 2026, Survey Shows