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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Field
29-08-2021

ONGC's 2nd Oil Rig to be Operational at Kalol by Mid
The ONGC, India's national oil company, five years ago decided to replace its aging fleet with 47 new rigs, including 27 for drilling and 20 for workover.
LNG
29-08-2021

Indian Oil expands JV with Malaysia's Petronas to focus on LNG plants
Indian Oil Corp is expanding its joint venture with Malaysia's state-run Petronas to include building liquefied natural gas terminals, fuel retailing and gas distribution, Chairman S.M. Vaidya said on Friday.
Oil Exploration
28-08-2021

Chinese Oil Major Sinopec Announces Oil, Gas Discovery
China’s state-owned oil and gas major Sinopec has struck oil and gas at a field in the northwestern province of Xinjiang, Reuters reports, adding that the reserves at the field are estimated at some 100 million tons.
LNG
27-08-2021

India's New LNG Plant Starts Next yr, to Boost Import Capacity by 12%
New demand for LNG from India is expected to support Asian gas prices which rose to record highs earlier this year, partly aided by the transition from coal or oil to gas in developing countries
Oil Field
27-08-2021

Iraq Approves BP's Plans to Spin off Rumaila Oilfield
Iraq's Cabinet has approved plans submitted by BP to spin-off the development of the Rumaila oilfield, the country's largest, as the oil company exits the country.
LNG
27-08-2021

B.Grimm and PTT Team up for Thailand LNG Expansion
Bangkok-based power company B.Grimm Power has formed a joint venture with the state-owned energy company PTT Global LNG to expand the LNG value chain.
Oil & Gas Trade
26-08-2021

Excelerate Energy Authorized to Import LNG in Brazil
Brazilian oil and gas regulator ANP today authorized US LNG company Excelerate Energy to import LNG to the country via its Brazilian unit.
Natural Gas
25-08-2021

China's Sinopec Adds New Tanks at East China Gas Receiving Terminal
This would be 17 per cent more than its current annual capacity of 6 million tonnes
Oil Price
25-08-2021

Oil Settles up 3%, Boosted by Mexican Oil Rig Outage, U.S. Vaccine Approval
Oil prices rose 3% on Tuesday, supported after Mexico suffered a large production outage due to a fire on an oil platform and also by full U.S. regulatory approval of vaccines for COVID-19.
Oil & Gas Trade
24-08-2021

Uganda Suspends NGOs Opposing Oil Projects
Uganda says the suspended organizations have been meddling with local politics.
Oil Field
24-08-2021

Norway's Duva Oil and Gas Field Starts Up
UK private equity-backed independent Neptune Energy has started production from the Duva oil and gas field in the Norwegian North Sea.
Oil & Gas Trade
24-08-2021

Illicit Oil Exports Cost Iran Billions In Lost Revenues
The actual amount of oil that it sold in this period should have brought $6 billion to the government. In fact, it earned only 10 percent of the real value of the oil.
Crude Oil
23-08-2021

Saudi Arabia’s Crude Oil Exports Dropped in H1 by 20%
Saudi Arabia could not ship more crude oil in the first half as it voluntarily restrained output under OPEC+ production-cut agreement; however, high oil prices this year helped the Kingdom to see stable income.
United States
23-08-2021

Alaska Judge Dismisses Trump-era Approvals for Arctic Oil Project
A US federal judge invalidated permits approved during the Trump administration for a large oil development project on Alaska’s North Slope on Wednesday.
Oil Pipeline
23-08-2021

Just 15 km of Nord Stream 2 pipeline to Go, Says Putin
he $11 billion project doubling the capacity of the first Nord Stream pipeline to 110 billion cubic metres a year has been a focal point of tensions between Moscow and the West.
Oil & Gas Supply
23-08-2021

Oil Company Stops Supplying Lebanon with Petrol
Coral Oil Company, operating in Lebanon since 1926, said the "unprecedented" halt to its operations comes as its current stocks run dry
Switzerland
21-08-2021

GEG Partners with Proman on Scottish Green Methanol Plant
Global Energy Group, owners of the Nigg Oil Terminal in Scotland, has partnered with Proman, a Swiss-based energy company, to develop a renewable power to methanol plant at the terminal.
LNG
21-08-2021

Brazil June Gas Demand up on Power Generation
Brazil's natural gas consumption rose by 16.5pc in June, led by a surge in demand for power generation as drought slashed hydropower capacity.
LNG
20-08-2021

Post-COVID-19 Recovery of LNG Market: What’s Next?
The global economy is cautiously walking away from the shadow of the unprecedented challenge of the COVID-19 pandemic.
Crude Oil
20-08-2021

Oil Falls for a Sixth Straight Day, Sinks to the Lowest Level Since May on Fears of Slowing Growth
Crude came under pressure amid weakness in the commodities market and equities more generally.
Crude Oil
20-08-2021

Opec+ Compliance at 109pc in July: Report
The Opec+ coalition achieved 109pc conformity with its crude production commitments in July, down from 112pc in June
LNG
19-08-2021

Atomenergomash Completes Europe’s First Test Rig for Medium- and Large-Scale LNG Plants Equipment
The project was implemented in accordance with the decree of the Russian government.
LNG
19-08-2021

McDermotts’ CB&I Wins More Philippines LNG Work
McDermott International’s CB&I Storage Solutions will provide the engineering, procurement and construction work for a second storage tank at Atlantic Gulf and Pacific Company’s liquefied natural gas import and regasification terminal
Natural Gas
19-08-2021

Nord Stream 2 Says Fortuna Vessel Working on Final Stage of Project
Natural gas prices in Europe fell sharply following the report.
Oil Price
19-08-2021

Oil Price Slides Towards July Low as US Output Rises for Second Week
The price of oil slips to a fresh weekly low despite a larger-than-expected decline in US inventories, with crude on the cusp of taking out the July low as US production increases for the second straight week.

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