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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

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.
Oil Field
11-04-2021

CNOOC Sees Minimal Output hit from China Oil Field Fire
China's state-controlled CNOOC expects a fire at one of its offshore platforms earlier this week to reduce crude production by around 600,000 bl this year.
Oil&Gas Drilling
10-04-2021

China Drills Deep in Disputed South China Sea
It was unclear exactly where the drilling took place in the South China Sea, around 90 per cent of which is claimed by Beijing as its territorial waters
Oil & Gas Trade
09-04-2021

Energy Partnership Bolsters China–Russia Relations
Russia’s Novatek and China’s Shenergy signed a new gas deal in February 2021, highlighting the primacy of energy ties in China–Russia relations.
Oil Exploration
08-04-2021

Eni Announces a New Light Oil Discovery in Block 15/06, Offshore Angola, Through “ILX” Exploration Strategy
Eni has made a new light oil discovery in Block 15/06, in Angola’s deep offshore.
08-04-2021

Battling Bovine Belching: Measuring Methane Eemissions from Cows
Taken from the April 2021 issue of Physics World.Cutting methane production from livestock is considered vital to climate change mitigation, with lots of research focusing on how animals breed and are fed. But physicists are playing their part too by deve
Crude Oil
07-04-2021

UAE Presents Phenomenal Plan To Boost Its Position As Oil Hub
The first of these developments - announced by UAE Vice President and Prime Minister, Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai – is ‘Operation 300 Billion’.
Crude Oil
07-04-2021

OPEC Is Betting Big On Robust Oil Demand Recovery
Last week’s surprise decision from OPEC+ to ease the production cuts by a cumulative 2 million barrels per day by July relies on expectations of robust oil demand recovery in the second quarter.
Oil & Gas Trade
07-04-2021

Oman Oil Exports Stage Strong Rebound in March
Oman's oil exports rebounded from a 19-month low in February to average 776,000 b/d in March, according to energy ministry data.
Gas Turbine
05-04-2021

Siemens Energy Signs Long-Term Service Contract with Aramco
Siemens Energy has signed its first long-term service agreement (LTSA) with Aramco, covering a range of turbines and generators at four major oil fields.

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