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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
27-01-2021

IMF Sees Oil Prices Averaging $50 In 2021
Oil prices are set to average $50 per barrel for 2021, rising by 20 percent from the average last year, but still well below the average for 2019
Oil Price
27-01-2021

Covid-19 will Speed up Global Energy Transition and Dampen Oil Prices
All forms of energy needed' to meet 45% rise in energy demand by 2045.
Oil Exploration
27-01-2021

Eni Gets New Licence in UK North Sea
Italian oil and gas company Eni has been awarded a new production licence in the UK North Sea, resulting from an application made in the 32nd UK Offshore Licensing Round.
Oil&Gas Drilling
27-01-2021

Santos Gearing up for New Well Offshore Australia
Australian oil and gas giant Santos has filed an environmental plan for exploration drilling of the Dancer-1 well, located offshore Australia, to Australian authorities and the plan is now under assessment.
Crude Oil
26-01-2021

Libya Oil Comes Back to Life but with Fragile Infrastructure
Libya is now producing 1,224 million barrels per day — a tenfold increase from a 121,000 bpd average in the third quarter of 2020, before the ceasefire deal.
Oil&Gas Drilling
26-01-2021

Oil Major BP Significantly Downsizes Oil Exploration Division
As part of its ambition to reduce oil and gas production and raise investments in clean energy, BP has been cutting staffing levels at its oil and gas exploration division since Bernard Looney became chief executive at the UK-based supermajor a year ago.
Oil Field
26-01-2021

China Locates Oil and Gas Field in South China Sea
China has located an offshore oil and gas field in the South China Sea, according to the China National Offshore Oil Corporation on Monday.
Crude Oil
25-01-2021

U.S. Proved Oil Reserves Remain Flat, Natural Gas Reserves Decline
Lower crude oil and natural gas prices reversed in 2019 a two-year trend of record high proved reserves in the United States as operators revised down their total proved reserves estimates.
Oil Pipeline
25-01-2021

EU Parliament Wants Nord Stream 2 Stopped
The European Parliament has called on the EU to stop Gazprom's 55bn m³/yr Nord Stream 2 gas project.
Crude Oil
25-01-2021

Norway: December Oil Output Rises Above Expectations
Norway ended 2020 on a high note with oil production in December 2020 above forecasts made by the Norwegian Petroleum Directorate.
Crude Oil
25-01-2021

Iran Claims it is Ramping up Oil Production to Pre-Sanctions Levels
Iran's output fell following US sanctions in 2018 over its nuclear ambitions
Oil Field
23-01-2021

Rystad: Oilfield Services Sector will Struggle to Repeat Former Glory Amid Energy Transition Push
the transition to cleaner energy technologies is accelerating and many suppliers will have to make existential changes to survive. Rystad Energy has evaluated who is better prepared.
Oil&Gas Drilling
23-01-2021

Egypt Awards Red Sea Oil and Gas Exploration Concession to Mubadala Petroleum
New agreement adds to Mubadala Petroleum's Egypt portfolio that includes Shorouk and Noor exploration concessions
Oil Price
23-01-2021

Price Dispute Shrinks Russia Oil Pipeline Exports
Exports of Russian Urals oil via the Druzhba pipeline have dropped this month as sellers opt for the sea route instead, following disagreements over pricing with European refiners, four sources told Reuters on Wednesday.
LNG
20-01-2021

Rolls-Royce Supplying Two mtu Gas Engines for First LNG-Hybrid Tugboat
Rolls-Royce is supplying two mtu 16V 4000 M55RN gas engines to Sembcorp Marine Integrated Yard for the construction of the first liquefied natural gas -hybrid powered tug.
Oil&Gas Drilling
20-01-2021

ExxonMobil Hits Another Dry Hole Offshore Guyana
ExxonMobil hit a dry hole for the second time in two months offshore Guyana.
OPEC
20-01-2021

UAE Squares Opec Commitments, Capacity Growth Plans
There is no contradiction between Abu Dhabi's efforts to boosts its production capacity and the UAE's membership of Opec, minister of energy Suhail al-Mazrouei said today.
Natural Gas
20-01-2021

US Gas-Fired Power Generation Set For First Drop Since 2017
Higher natural gas prices this year are expected to result in the first annual decline in U.S. gas-fired electricity generation since 2017.
Oil & Gas Trade
20-01-2021

Uzbekistan to Open up Electric Power, LPG Markets Amid Shortages
Uzbekistan exports natural gas, mostly to China, but it has experienced shortages this winter, prompting cuts to export shipments and discontent among households who struggled to keep themselves warm
Oil Field
19-01-2021

Apex Makes Oil Discovery in Egypt
Apex International Energy announced a new oil discovery in Southeast Meleiha Concession, located in the Western Desert of Egypt.
Oil&Gas Drilling
19-01-2021

Halliburton Delivers First Successful Grid-Powered Fracturing Operation
Halliburton Company announced that it has successfully deployed the industry’s first electric grid-powered fracturing operation.
Oil & Gas Trade
19-01-2021

Algeria's Oil and Gas Exports and Output Down Around 10% in 2020
Overall energy output fell 10 per cent to 142 million tonnes of oil equivalent, hit by restrictions linked to the coronavirus pandemic, it said in a report.
Crude Oil
18-01-2021

US Oil Industry Braces for Biden Takeover
The threat of reduced access to federal lands and new rules on infrastructure could prompt the sector to offer alternative green initiatives, writes Chris Knight
Oil Field
18-01-2021

Energean Approves Israel Gas Field Development
The Karish North field, which was discovered less than two years ago, is expected to start production in the second half of 2023, the company said in a statement
Crude Oil
16-01-2021

Norway Sees Crude Output at 2mn b/d in 2025
Crude production offshore Norway will increase to more than 2mn b/d in 2025 from 1.7mn b/d now, much of it from the giant Johan Sverdrup field, the Norwegian Petroleum Directorate (NPD) said today.

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