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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
26-04-2021

Vires Energy Obtains Nod to Proceed with LNG Hub
The Department of Energy said over the weekend it approved the application of Vires Energy Corp., controlled by A Brown Company Inc., to proceed with its proposed integrated liquefied natural gas project in Batangas province.
Clean Energy Transition
26-04-2021

Amazon Inks RNG Agreement, Considers Possible Stake in Clean Energy Fuels
Clean Energy last year secured separate partnerships with BP plc and Total SE to consider expanding U.S. RNG production.
Oil Refinery
25-04-2021

SA’s Oldest Refinery, Engen, to be Converted to a Storage Terminal
The Engen refinery in Wentworth is set to be converted into a storage terminal due to low profit margins and a challenging refining environment.
Oil & Gas Trade
25-04-2021

Iran: Oil Exports Hit 500,000 Barrels per day
According to a Reuters statement that reveals predictions from tanker tracking firms that Iran’s crude oil exports since the beginning of the month have hit about 500,000 barrels per day.
Oil Refinery
25-04-2021

Duqm Refinery Project Marks 80% Progress
Duqm Refinery and Petrochemical Industries Company has announced that the progress in Duqm refinery project exceeded 80 per cent by end of March and increase from 79.9 per cent in last February.
Natural Gas
25-04-2021

Graham: Biden Needs Natural Gas to Hit Green Energy Goals
In a letter to President Biden released Wednesday, leaders of Pennsylvania’s energy sector and its allies said Biden needs natural gas to help him reach his climate emissions goals while keeping the U.S. economy growing.
Malaysia
25-04-2021

Malaysian Gas Association President to deliver GECF Gas Lecture on 26 April
The Gas Exporting Countries Forum, the global platform of the leading gas producing nations, will be hosting the next in its signature GECF Gas Lecture Series on Monday 26 April 2021 at 11:00 a.m. Doha time.
Oil Field
24-04-2021

L&T Secures Contract to Build Large Oil & Gas Supply Bases in Saudi Arabia
The company said that the project involves constructing industrial facilities of different sizes, an administration building, ancillary buildings, associated infrastructure and storage yards along with civil, structural, and architectural works.
Oil Refinery
23-04-2021

PetroChina’s Jieyang Refinery Plans Start-up Next Year
Chinese state-controlled firm PetroChina's under-construction 400,000 b/d Jieyang refinery in south China's Guangdong province is targeting a start-up in the first half of 2022.
Crude Oil
22-04-2021

Rystad Energy Sees Oil Demand Peaking In 2026
The accelerating adoption of electric vehicles and electrification in other oil-consuming sectors is set to bring peak oil demand as early as 2026 at 101.6 million barrels per day, which would be just around 1 million bpd above the 2019 levels
Crude Oil
22-04-2021

OPEC+ Unlikely To Drastically Change Oil Pact Next Week
The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months.
Oil Price
22-04-2021

Angola May Privatize State-Owned Oil Firm To Boost Production
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing international oil companies to reconsider their exorbitant spending plans made at $100 oil.
LNG
22-04-2021

Japan Backs LNG Project Financing Ahead of Biden Climate Change Summit
State-owned Japan Oil, Gas and Metals National Corporation said April 20 that it will step up financial support for LNG projects and enhance its market information as part of efforts to ensure Japan's LNG supply security.
Oil & Gas Trade
22-04-2021

Japan Eyes Vietnam for ASEAN Oil-Sharing Deal
Japan is targeting Vietnam for what will be its first oil-sharing deal with a Southeast Asian nation as Tokyo attempts to ensure an uninterrupted supply of petroleum from overseas supply chains in the event of a disruption.
Oil & Gas Trade
21-04-2021

World’s Largest Oil Trader Expects Strong Demand Rebound This Year
Global oil demand is set for a rebound between now and the end of next year, with consumption expected to rise from current levels by as much as 8 million barrels per day by end-2022
Crude Oil
21-04-2021

China Cuts Saudi, Russia Crude Imports in March
China imported less crude from top suppliers Saudi Arabia and Russia in March compared to a month earlier, while boosting arrivals from Brazil and the UAE, customs data show.
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.

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