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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
07-01-2021

Russia: Annual Oil Production at Lowest Level Since 2011
Russia’s oil production declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and low demand due to the coronavirus.
Oil Shale
07-01-2021

China's Sinopec Builds First Phase of New Shale Gas Field in Sichuan
Weirong, located in Neijiang and Zigong cities, is the state energy giant's second major shale gas development after Fuling, which is also located in the same Sichuan basin
Oil&Gas Drilling
06-01-2021

Trump Administration Finalizes Alaska Oil Drilling Plan
The Trump administration has finalized a plan that will open up more land for oil and gas drilling in the Alaska Petroleum Reserve, the Bureau of Land Management said this week, adding that the plan covers 18.6 million acres in the reserve.
Crude Oil
06-01-2021

OPEC+ Meeting Ends With Major Surprise Cut From Saudi Arabia
After another round of drama and a stalling of the talks on Monday, the Tuesday extension of the OPEC+ meeting concluded at long last with a solution upon which all OPEC+ members agreed.
Oil Field
06-01-2021

Italy’s ENI and UAE’s SNOC Begin Gas Production from Mahani Field in Sharjah
Italian energy major ENI and Sharjah National Oil Corporation from the United Arab Emirates announced on January 4 production start-up from the Mahani field, located in onshore Concession Area B of the Sharjah Emirate.
Oil Price
06-01-2021

2021 Oil Prices Seen Hovering Around $45 per Barrel in 2021
2021 oil prices seen hovering around $45 per barrel in 2021: Moody's Investors Service.
LNG Carrier
05-01-2021

Global LNG Fleet Starts 2021 with Spate of Deliveries
Four new LNG carriers were delivered by South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering in the first four days of this year, following slow deliveries last month.
Oil & Gas Trade
05-01-2021

Venezuela’s 2020 Oil Exports Plunged To The Lowest Level In 77 Years
Venezuela’s crude oil and refined product exports plummeted in 2020 to their lowest level in 77 years
Crude Oil
05-01-2021

China’s Oil Giants Face NYSE Delisting
Chinese crude oil companies listed in New York may soon be kicked out, after the New York Stock Exchange delisted three telecoms with headquarters in China, due to alleged ties to the Chinese military.
Natural Gas
05-01-2021

Gazprom Starts Delivering TurkStream Gas to Bosnia, Serbia
Russian energy giant Gazprom has begun delivering natural gas to Serbia and Bosnia and Herzegovina through the TurkStream pipeline and a new route crossing Turkey and Bulgaria.
Oil Pipeline
05-01-2021

Azerbaijan Sends First Gas Export via TAP Pipeline
Azerbaijan has started commercial natural gas supplies to Europe via the Trans-Adriatic Pipeline.
Crude Oil
05-01-2021

Oil Prices Touch Multi-Month Highs as OPEC+ Expected to Hold Output
Oil prices touched multi-month highs on Monday on expectations that OPEC and allied producers may cap output at current levels in February as the coronavirus pandemic keeps worries about first-half demand elevated.
Oil Pipeline
05-01-2021

Russia to Double Natgas Volume to China in 2021 as Cold Spell Bites
The increased volume of supply was due to a new 1,110-km pipeline extension in December that starts at Changling in northeast China's Jilin and ends at Yongqing in northern China's top steelmaking region of Hebei.
Crude Oil
04-01-2021

Cambodia Prepares To Produce Its First Oil
As Asian oil demand looks set to increase over the next decade, Cambodia is taking advantage of the opportunity with its first crude oil production.
Oil & Gas Trade
04-01-2021

Egypt Signs 9 Exploration Deals Worth $1bn with Energy Companies
Awards cover exploration along the eastern and western Mediterranean as well as the Red Sea
Oil & Gas Trade
04-01-2021

Iraq Confirms $2bn Oil Prepayment Agreement with Chinese Firm
The Chinese firm will pay for a full year's worth of crude prior to loading shipments
Oil & Gas Trade
04-01-2021

New Year OPEC+ Meeting to Decide Oil Production Levels
The OPEC+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and a price war between Saudi Arabia and Russia.
Oil & Gas Trade
02-01-2021

ExxonMobil and Vopak Sign MoU for South Africa’s LNG Feasibility
Affiliates of Exxon Mobil Corporation and Royal Vopak (Vopak) have signed a Memorandum of Understanding to work together on a feasibility study to assess the commercial, technical and regulatory aspects of an LNG regasification terminal
Oil & Gas Trade
02-01-2021

Iran To Buy Covid Vaccines With Income From Gas Exports To Iraq
Iran will use part of the proceeds from its electricity and natural gas exports to Iraq to buy COVID-19 vaccines from Europe.
Oil Pipeline
31-12-2020

Russia Accelerates Nord Stream 2 Project to Beat U.S. Sanctions
Russia is stepping up work on the Nord Stream 2 pipeline before the U.S. tightens sanctions against the controversial project designed to feed more natural gas into Germany.
Crude Oil
31-12-2020

Cambodia Starts First Crude Oil Production After Years of Delays
Cambodia has begun extracting its first crude oil from fields in the Gulf of Thailand, in a venture between Singapore’s KrisEnergy Ltd and the government, both parties said on Tuesday, bringing an end to years of delays.
Oil Price
31-12-2020

Oil Jumps On Significant Crude Inventory Draw
Crude oil prices rose further today after the Energy Information Administration reported an oil inventory draw of 6.1 million barrels for the week to December 25.
Oil & Gas Trade
30-12-2020

Angolan Crude Exports Confirmed Lower in February
The final version of Angola's February crude loading programme sets exports at 1.13mn b/d, down from 1.18mn b/d scheduled for January.
LNG
30-12-2020

China’s Sinopec Plans Record LNG Imports to Battle Cold Snap
Sinopec Corp pledged on Tuesday to maximise domestic gas productions and raise imports of liquefied natural gas to record rates as a cold spell hitting large parts of the country this week lifts demand for the winter heating fuel.
Oil Field
30-12-2020

KrisEnergy Starts up Cambodia’s First Offshore Oil Field
KrisEnergy started producing oil from Cambodia’s first oil field in the offshore Block A concession on 28 December 2020.

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