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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Field
03-06-2021

Exxon, Equinor Invest $8 Billion In Developing Oilfield Off Brazil
Norway’s Equinor and U.S. supermajor ExxonMobil have reached the final investment decision to develop the Bacalhau oilfield in Brazil’s prolific pre-salt area with a US$8-billion investment in phase one.
Oil Refinery
03-06-2021

World’s Largest Oil Refinery Project to Help Meet Nigeria’s Oil Demands
XCMG Construction Machinery will be working together with Dangote Industries Limited on the world’s largest oil refinery project to be located at Lekki Free Zone in Lagos, Nigeria.
Crude Oil
03-06-2021

Oil Extends Gains, Trading Above $70 on Upbeat Outlook
Prices are expected to be elevated in the coming months as economies recover from Covid-19 pandemic, analysts say
Oil&Gas Drilling
03-06-2021

Biden Administration Halts Oil Drilling in Alaska Wildlife Refuge
White House climate advisor Gina McCarthy noted Biden's promise and said the move reflected his belief that "national treasures are cultural and economic cornerstones of our country," according to a White House statement
Oil Refinery
02-06-2021

China On Track To Be World’s Largest Oil Refiner in 2021
In the global refining industry, COVID-19 has exposed a seismic shift. While China’s oil refineries forge ahead with capacity expansion, many western-based refiners have retrenched.
Crude Oil
02-06-2021

Iraq's May Oil Exports Averaged About 2.9 mln bpd - Oil Ministry
Iraqi oil exports stood at about 2.9 million barrels per day (bpd) in May, little changed from the previous month, the country's oil ministry said on Tuesday.
Oil Exploration
02-06-2021

Exxon Quits Deepwater Oil Project In Ghana
Exxon is leaving a deepwater prospect in Ghana after seismic work failed to produce good enough results.
Crude Oil
02-06-2021

Nigeria’s Oil Revenues Slump 98% In April
Nigeria’s crude oil export revenues slumped by as much as 98 percent from March to April this year because of movements in the price of gasoline.
Oil Price
01-06-2021

New Iran Nuclear Deal May Completely Derail Oil Price Rally
The U.S. has agreed to a tentative removal of key sanctions in the oil, gas, petrochemicals and automotive sectors, plus some of those on Iran’s banking sector.
OPEC
01-06-2021

OPEC Projects Tight Oil Markets in Advance of June Crude Output Talks
A year after shuttering unprecedented volumes of crude, the OPEC+ alliance is expecting world oil markets to get acutely tight.
Crude Oil
01-06-2021

Iran Claims Its Oil Production Could Jump To 6.5 Million Bpd
Iran can boost its crude oil production to as much as 6.5 million barrels per day when the U.S. sanctions on its oil industry are lifted, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Monday.
Oil Price
31-05-2021

Oil Prices Stay Firm As Demand to Outstrip Supply in H2
Oil prices climbed in early Asian trade on Monday, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week for supply guidance.
Oil Refinery
31-05-2021

Mexican National Oil Company to Run USA Refinery
Pemex, whose holdings include six refineries in Mexico, will become the sole owner of a seventh refinery – in the United States.
Oil Refinery
31-05-2021

Oil Refiners to Begin Olefin Business in 2nd Half of 2021
GS Caltex and Hyundai Oilbank will start operating their olefin facilities in the second half of 2021, signaling a big change in the petrochemical industry.
Oil Price
31-05-2021

US Pump Prices Become Pressure Point for Biden
Rising gasoline prices heading into the summer are emerging as a political liability for President Joe Biden, as critics try to direct voter frustration about pump prices to attack his administration's policies on energy and climate change.
LNG
28-05-2021

France’s Total Inks 5-year LNG Supply Agreement with AMNS in India
France’s Total and ArcelorMittal Nippon Steel have signed an agreement for the supply of up to 500,000 tons of liquefied natural gas per year until 2026.
Oil Refinery
28-05-2021

South Africa: Engen To Convert Durban Refinery to Terminal
As expected, Engen announced that it will be progressing plans to convert its 120,000 bbl/d refinery in Durban, South Africa into a terminal, as the refinery is not commercially viable and considered unsustainable in the long term.
Oil Refinery
28-05-2021

France's Donges Refinery will not Restart Until 2022
France's 222,000 b/d Donges refinery will remain offline until next year after operator Total decided to bring forward planned maintenance.
Crude Oil
28-05-2021

Biden Defends Alaska Oil Project
President Biden’s administration has backed the Willow oil project in Alaska in a new filing by the Department of Justice.
Oil&Gas Drilling
28-05-2021

Turkey to Extract Oil from 3 New Onshore Wells: Energy Minister
Turkey will extract oil from three newly discovered wells in the country's Diyarbakir and Kirklareli provinces.
Oil & Gas Trade
27-05-2021

Nigeria Inks Massive Oil Deal With Supermajors
Nigeria’s National Petroleum Corporation this week signed a deal with Shell, Exxon, Total, and Eni to develop an offshore oil block that includes the deepwater Bonga field, the NNPC said in a series of tweets.
Oil&Gas Drilling
26-05-2021

Santos Kicks off Bayu-Undan Drilling Campaign
Australia’s energy giant Santos, as the operator of the Bayu-Undan Joint Venture, has started the Phase 3C infill drilling program at the Bayu-Undan field, in Timor-Leste offshore waters.
Natural Gas
26-05-2021

Adnoc Signs 10-Year Gas Supply Agreements with Emirates Steel and Arkan
Adnoc has the potential to produce 11 billion cubic feet of natural gas and over 1 billion cf of sour gas per day
Oil Field
26-05-2021

Adnoc Awards $744m Offshore Field Contract to NPCC
The Belbazem block is being developed to reach a production capacity of 45,000 bpd, with the first barrel of oil expected in 2023
Oil Price
25-05-2021

Oil Prices Rise on Potential Hitch in Iran Talks
Oil prices rose on Monday as a demand bump fueled by COVID-19 vaccination drives gave traders optimism that the market can absorb any Iranian oil that would come on the market if Western talks with Tehran lead to the lifting of sanctions.

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