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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
04-02-2021

Russia's Rosneft Looks to Arctic to Ramp up LNG Output
The projects were considered as part of its LNG strategy at a meeting chaired by Deputy Prime Minister Alexander Novak last month
Oil & Gas Trade
03-02-2021

Nigeria's Crude Oil Exports Hit Three-Year Low
West Africa's oil exports slumped to the lowest level in at least three years last month as infrastructure woes for some of Nigeria's biggest streams combined with gradually waning output in Angola.
Crude Oil
03-02-2021

African Members’ Production Troubles Offset OPEC’s Planned Increase
OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations.
Crude Oil
03-02-2021

OPEC+ Now Sees Weaker Oil Demand Growth For 2021
OPEC+ expects global oil demand to rise by 5.6 million barrels per day this year—lower estimated growth than OPEC’s assessment of 5.9-million-bpd demand increase from less than three weeks ago.
Oil & Gas Trade
03-02-2021

Petrobras Opens 2021 with Record Oil Exports
Brazil's state-controlled Petrobras says crude exports through its Angra dos Reis terminal reached a record 19.3mn bl in January, the extension of an upward trend in dispatches of mainly pre-salt crude.
Crude Oil
02-02-2021

Iraq Raises Crude Oil Exports In January
Iraq’s oil exports increased slightly in January 2021 compared to December 2020, data from the country’s oil ministry showed on Monday, suggesting that Iraq is again looking to maximize oil revenues at the risk of busting its OPEC+ compliance.
Oil Exploration
02-02-2021

Exxon and Chevron CEOs Discussed Potential Merger
Talks were "preliminary" and are not ongoing, but could be rekindled later.
LNG Carrier
01-02-2021

Demand for Safe Eco-friendly Fuels Rising, LPG-Propelled Ships Expected to Be Built
The Ministry of Oceans and Fisheries announced on Jan. 31 that it approved the Korean Register of Shipping’s vessel inspection regulations regarding LPG-propelled vessels.
Crude Oil
01-02-2021

Occidental Delivers World First Carbon-Neutral Oil
A unit of U.S. Occidental said this week it had delivered the world’s first shipment of carbon-neutral oil, or oil where emissions associated with the entire crude lifecycle—well head through the combustion of end products—have been offset.
Natural Gas
31-01-2021

Energean Could Push Back First Gas from Karish to 2022
Oil and gas company Energean has informed that first gas from its Israeli fields could start flowing in the first quarter of 2022, instead of the current target of around year-end 2021.
LNG
31-01-2021

Delta Offshore Energy Signs PPA for Vietnam Project
The plant is expected to be fully operational by 2024.
Oil Exploration
30-01-2021

Colombia Aims to Sign 15 Oil Exploration Contracts in 2021
Colombia aims to sign 15 oil exploration contracts in 2021, Mines and Energy Minister Diego Mesa said on Wednesday, while setting the country's crude production target for the year at 865,000 barrels of oil per day.
Oil Field
29-01-2021

Chevron Pipeline Project Joins Egypt & Israel
With its aim to develop Israel’s natural gas fields, Chevron Corporation together with other energy companies is planning to make an investment of approximately $235 million in pipelines to export the Israeli fuel to Egypt.
Oil Price
29-01-2021

OPEC Withheld 1.3 Billion Barrels Of Oil To Prop Up Prices
The Organization of Petroleum Exporting Countries withheld some 1.3 billion barrels of oil supply last year to keep prices from falling even further, the secretary-general of the cartel said.
Crude Oil
29-01-2021

Oil to Average $54 per barrel in 2021 Amid Tightened Supply, ADCB Says
The promise of stimulus worth $1.9tn for the US economy has also buoyed oil markets
Crude Oil
28-01-2021

Only 36% Of Russia’s Oil Reserves Are Profitable
Only 36 percent of Russia's recoverable crude oil reserves can turn a profit in the current market, Deputy Energy Minister Pavel Sorokin said in an article for Energy Policy magazine.
Oil Exploration
27-01-2021

Russia’s Gazprom and LUKOIL Mull JV for Developing Fields in Nenets Area
The Vaneyvisskoye and Layavozhskoye fields have the aggregate recoverable reserves of 27.4 million tons of liquid hydrocarbons and 225.3 bcm of natural gas
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.

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