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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
14-01-2021

Sinopec, SIBUR Set up Joint Venture
SIBUR and Sinopec will hold respective interest in the joint venture in the amount of 60 percent and 40 percent.
Oil Price
14-01-2021

Hike in Petrol, Diesel Rates after Global Oil Price Jump
Accordingly, in the national capital, petrol was sold at the new record high level of Rs 84.45 from the previous days of Rs 84.20 a litre while diesel price increased to Rs 74.63 per litre as against Rs 74.38 a litre earlier.
Crude Oil
13-01-2021

PetroChina's Overseas Oil and Gas Equity Production Exceeded 100 million tons
This is another 100 million tons after the overseas oil and gas equity production equivalent exceeded the 100 million tons mark for the first time in 2019.
Oil&Gas Drilling
12-01-2021

Paradigm Drilling Services and Toolserv form Strategic Alliance
Paradigm Drilling Services, part of the Paradigm Group headquartered in Groot-Ammers, Holland, have announced their strategic alliance with Stavanger-based oil service company Toolserv AS to manage sales and rentals in Norway.
Crude Oil
12-01-2021

Iran Signs 8 more Oil Projects as Part of plan to Boost Output by 355,000 b/d
The National Iranian Oil Co. on Jan. 11 signed eight more oil projects as part of a $6.2 billion national program started in January 2019 to boost oil production by 355,000 b/d at 33 fields.
Crude Oil
12-01-2021

Almost Half of South Africa’s Oil Refining Seen Shut Until 2022
South African plants owned by Glencore and Petroliam Nasional that make up 43% of the nation’s oil-refining capacity are expected to stay shut until at least 2022, according to energy consultant Citac.
Crude Oil
11-01-2021

OPEC Crude Output Cuts Should Help U.S. Shale Profits in 2021
U.S. crude oil production has fallen 2 million barrels per day in the last year as low prices and demand forced shale producers to cut their losses
Oil Price
11-01-2021

How Will Biden’s Presidency Impact South America’s Oil Boom?
Much has been made of President-elect Joe Biden’s energy policies and the negative impact they will have on the U.S. oil industry, which is laboring to survive a global oil supply glut and sharply weaker energy prices.
Crude Oil
10-01-2021

Floating Oil Storage Shrinks Amid Robust Asian Demand
Global floating oil storage declined at a fast pace in December as traders sold crude held on tankers in the absence of price incentives to store it and in order to meet peak winter demand in Asia.
Crude Oil
10-01-2021

Petrobras Sets Oil Production Record in 2020
Robust Chinese demand for pre-salt crude buoyed Brazil' state-controlled Petobras in 2020, helping spur record output of 2.28mn b/d of oil.
Oil Pipeline
09-01-2021

China Gas Pipeline in Northern Guangdong Begins Operations
China Petroleum & Chemical Corp, or Sinopec, said a 238-kilometre natural gas pipeline in the northern part of China's southern province Guangdong has started operation.
Crude Oil
08-01-2021

Japan Imported 19 million Barrels of Crude Oil from the UAE in November
Japan imported 19 million barrels of crude oil from the UAE in November 2020, accounting for 27.5 percent of Japan's total crude oil imports that month.
Oil & Gas Supply
08-01-2021

Belarus Secures Russian Oil and Gas Supplies for 2021
The details of the bilateral deal, however, do not appear to reflect any sort of compromise by both sides.
Crude Oil
08-01-2021

IRAQ DATA: Dec Oil Production up 4.7%, Breaching OPEC+ Quota
OPEC's second-largest producer had a 3.804 million b/d quota for December under the OPEC+ deal.
Natural Gas
07-01-2021

Russia Doubles Pipeline Gas Contract Supplies to China
Natural gas deliveries from Russia to China through the Power of Siberia 1 pipeline have risen sharply, doubling contracted pipeline gas supplies to a rate of 10bn m³/yr (27.4mn m³/d).
Oil & Gas Trade
07-01-2021

Gladstone December LNG Exports Hit Record High
LNG exports from the three liquefaction plants located on Curtis Island off Gladstone hit a new high in the last month of 2020.
Oil & Gas Trade
07-01-2021

OPEC+ Allows Kazakhstan to Increase Oil Production in February and March
OPEC+ countries reached agreement on the terms of the deal for February and March.
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

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