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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Price
21-04-2021

US Oil Surges Above $64 on Anniversary of Sub-Zero Plunge
Prices have since added more than $100 per barrel, following production cuts by Opec+ as well as resumption of mobility
Oil Field
21-04-2021

Iraq Awards China’s Sinopec Contract to Tap Natural Gas Resources
China’s state-run Sinopec energy company won a deal to develop a major gas field in eastern Iraq.
LNG
20-04-2021

Pavilion Energy Imports Carbon Neutral LNG Cargo
Pavilion Energy Singapore Pte. Ltd. has announced that it has imported a carbon neutral LNG cargo into Singapore, a first for the company and the country, Pavilion Energy highlighted.
Oil&Gas Drilling
19-04-2021

Aramco Resumes Work on Offshore Oil Capacity Expansion
State-controlled Saudi Aramco has resumed development work on three offshore crude expansion projects that will provide an additional 1.15mn b/d of capacity by 2024.
LNG Carrier
19-04-2021

Hyundai Heavy Receives Order for Three LNG Carriers
South Korean shipbuilder Hyundai Heavy Industries has taken an order for three LNG carriers, with delivery scheduled by July 2024.
Oil & Gas Supply
17-04-2021

Guyana Estimates Future Oil Production At 1 Million Bpd
Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in country, according to natural resources minister Vickram Bharrat said on Tuesday.
Crude Oil
17-04-2021

WoodMac: Oil Prices Could Drop To $10 In 2050
Brent Crude oil prices could fall to $10 per barrel by 2050 if the world accelerates the energy transition with decisive action to achieve the Paris Agreement climate goals, energy consultancy Wood Mackenzie said on Thursday.
Saudi Arabia
16-04-2021

Samsung Engineering Wins a Petrochemical Plant Project in Saudi Arabia
Samsung Engineering announced on April 14 that it has signed a US$650 million contract with a Saudi Arabian petrochemical company to build a profane dehydration plant and related utilities and offsites.
Oil&Gas Drilling
16-04-2021

Chinese Semi-Sub Becomes the World’s First Rig to get DNV’s Smart Notation
A semi-submersible drilling rig from China Merchant Heavy Industry, SHEN LAN TAN SUO, has become the world’s first offshore unit to receive DNV’s Smart notation compliance certificate.
Crude Oil
16-04-2021

BP Halts Production at UK's Foinaven Crude Field
BP said today it has suspended production indefinitely at the Foinaven crude fields west of Shetland as it prepares for the removal of the ageing floating production, storage and offloading vessel serving the area.
Oil & Gas Supply
16-04-2021

Shell Plays Down Risk of Stranded Oil and Gas Reserves
Royal Dutch Shell said on Thursday the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades.
Natural Gas
15-04-2021

Waga Energy to Deploy Its Breakthrough Landfill Renewable Gas Technology in Quebec
the European leader in landfill gas-to- renewable natural gas technology, has been enlisted by The Mauricie Residual Materials Management Board to deploy its innovative gas upgrading solution at the Saint-Étienne-des-Grès landfill, in Quebec
Crude Oil
14-04-2021

U.S. Oil Production Still 2 Million Bpd Under Pre-Pandemic Levels
The EIA might be forecasting that the Permian Basin’s oil production will be rebounding soon, but overall, today’s U.S. oil production is still 2 million barrels per day below the levels seen in January 2020.
Oil Price
14-04-2021

Crude Oil will Climb Above $70; Energy Security could Reappear on the Radar
Crude oil prices could shift higher again once the market shakes off the latest bout of coronavirus jitters
Oil&Gas Drilling
14-04-2021

Equinor Gets Drilling Permit for Two Wells in Norwegian North Sea
Equinor Energy has secured approval from the Norwegian Petroleum Directorate to drill wells 35/11-25 S and 35/11-25 A in the North Sea.
Oil&Gas Drilling
14-04-2021

Texas Regulator Issues Nearly 800 Drilling Permits
The Railroad Commission of Texas reported late last week that it issued a total of 798 original drilling permits in March 2021, which amounts to 54 more permits than its March 2020 total.
Oil Exploration
13-04-2021

Jordan to Allow Exploration in Nine Hydrocarbon Blocks, Energy Minister Says
The kingdom imports more than 90 per cent of its energy needs and is looking to diversify its mix
India
13-04-2021

Praj Industries to Set up Ethanol Plant for Godavari Biorefineries
Praj will expand the existing ethanol manufacturing capacity of the plant to 600 Kilo Liter Per Day, from the existing 400 KLPD.
Crude Oil
13-04-2021

Brazil Crude Exports at Eight-Month High in March
Brazilian crude exports climbed to around 1.54mn b/d in March, an almost 17pc increase over February and the highest volume since July 2020.
Oil Price
12-04-2021

Oil Falls, Ending Week About 2% Lower on Supply increase, and New Lockdowns
Oil prices settled lower on Friday and fell around 2% last week as production increases and renewed COVID-19 lockdowns in some countries, offset optimism about a recovery in fuel demand. Brent crude settled down 22 cents, or 0.4%, to $62.95, while WTI end
Oil Exploration
12-04-2021

Eni’s Latest Oil Discovery Could Be Big For Angola
Italian firm Eni has made a new light oil discovery off the coast of Angola after exploration activities recommenced following a year of pandemic restrictions.
Oil Pipeline
12-04-2021

Uganda, Tanzania Sign Oil Pipeline Project Agreement
1,440 km crude oil pipeline will be constructed from Uganda's Albertine region to Tanzanian seaport of Tanga
Oil Price
12-04-2021

The $7 Trillion Reason Saudi Arabia Is Cutting Oil Production
Strict production discipline by OPEC and its partners is the #1 reason why oil prices have managed to stage a remarkable recovery and stay relatively high after plunging to historical lows in 2020.
Oil & Gas Trade
11-04-2021

Libya’s Largest Oilfield Could See Exports Interrupted
The largest oilfield in Libya, the 300,000-bpd Sharara field, could see crude oil exports from it disrupted if members of the Petroleum Facilities Guard follow through with their threat to shut down exports if their demands for pay are not met.
Oil Field
11-04-2021

Southeast Asia Looks To Increase Offshore Oil Production
Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater discoveries.

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Equinor Makes Two Gas and Condensate Discoveries in the North Sea

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