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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Field
30-12-2020

Lukoil Reaches Oil Output Milestone on North Caspian Sea Fields
Russian independent oil company Lukoil has exceeded a cumulative production of 35 million tonnes from its Yury Korchagin and Vladimir Filanovsky fields in the North Caspian Sea.
Natural Gas
30-12-2020

PetroChina to more than Double Sichuan Shale Gas Output by 2025
That will surpass a target set by Sinopec, which led China's shale gas development with the first commercial find at Fuling, also in the Sichuan basin, and which aims to nearly double its shale gas output to 13 bcm in 2025.
Crude Oil
29-12-2020

Oil Price Rally Fades as OPEC’s Plans Overshadow U.S. Stimulus
A brief rally in crude oil deflated Monday as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+.
Oil&Gas Drilling
29-12-2020

Eni: New Oil Discovery and New Production in the Western Desert of Egypt
New oil resources discovered in the Western Desert of Egypt with a new exploration well in Meleiha Concession. The new discovery adds 10,000 barrels of oil per day to the current Concession production.
Oil Pipeline
29-12-2020

Russian Nord Stream 2 Pipe-Laying Vessel Leaves German Site, Indicating Project Progress
Fortuna was now heading for the north German port of Wismar, the data showed.
Crude Oil
29-12-2020

Novak Says Russia Backs OPEC+ 500,000 bpd Oil Output Hike from February
Russia expects to support an increase in oil production by the group, known as OPEC+, of another 500,000 barrels per day from February at next month’s summit of the leading global oil producers.
Oil&Gas Drilling
29-12-2020

Santos Grabs Exploration Permit off Australia
Australian energy major Santos has been granted an offshore exploration license in Australia’s Northern Carnarvon Basin.
Natural Gas
28-12-2020

China's Gas Output to Surpass 186 billion Cubic Meters
The output of natural gas in China is likely to reach over 186 billion cubic meters this year, said an official with the National Energy Administration.
Crude Oil
28-12-2020

Iraq Works to Boost Southern Crude Export Capacity
Iraq's oil ministry is working to boost the country's crude oil storage capacity at the southern port of al-Faw as part of plans to nearly double its southern oil export capacity.
LNG
28-12-2020

China Grabs Control Of LNG Infrastructure In Move To Bolster Energy Security
In recent months China has earned itself a prime spot in lots of energy headlines thanks to President Xi Jinping’s ambitious carbon curbing and clean energy goals.
Namibia
28-12-2020

Namibia’s Energy Ministry Further Extends Suspension on Fuel License Applications
The Ministry of Mines and Energy has extended the temporary suspension on the application of new fuel retail sites and the issuing of wholesale licences to 28 February 2021.
Oil Field
28-12-2020

Iran Begins Drilling at Next Phase of South Pars Oil Field
Drilling operations at phase 11 of the massive South Pars oil field began last week, as Iran continues to build towards the recovery of natural gas from March next year.
Oil Field
28-12-2020

China's Changqing Oilfield Exceeds 60 million tonnes of Annual Output
Changqing Oilfield, China's largest oil-and-gas field, has produced over 60 million tonnes of oil equivalent of crude oil and natural gas so far this year to hit a record high.
Oil Field
28-12-2020

Saudi Arabia Makes Four Oil and Gas Discoveries
Oil was discovered in the Al-Ajramiyah well, northwest of the city of Rafhaa, with tests showing a rate of 3,850 barrels per day (bpd).
Oil&Gas Drilling
28-12-2020

The ANH Approved the Assignment of Ecopetrol's 50% Interest to Shell
The ANH approved the assignment of Ecopetrol's 50% interest to Shell and the operation by the latter in 3 blocks off the Colombian Caribbean coast
Oil Price
25-12-2020

China’s Wholesale LPG Prices Surge on Firm Demand
China wholesale LPG prices have surged across the country this month, bolstered by strong international prices and rising domestic demand.
Crude Oil
25-12-2020

Talos Continues Talks With Pemex Over Massive Shared Oil Discovery Off Mexico
Talos Energy, leading a consortium of foreign oil companies, discovered the large Zama oil deposit in 2015.
Crude Oil
25-12-2020

UAE Projects a Gradual Oil Demand Recovery in 2021
The United Arab Emirates is optimistic about a recovery in oil demand in 2021, but says it won’t be immediate.
Oil Price
25-12-2020

Oil Moves Higher on Brexit Deal, U.S. Inventory Draw
Oil prices moved higher on Thursday as news that Britain and the European Union had signed a post-Brexit trade deal, as well as a draw in U.S. inventory sparked optimism.
Crude Oil
25-12-2020

Rystad Expects 2021 to Bring Largest Crude Deficits in Years
The Covid-19 pandemic has devastated crude and condensate demand in 2020, creating massive supply surpluses and filling up inventories, causing producers to slash output in order to keep prices at somewhat profitable levels.
CNOOC
24-12-2020

China's Offshore Oil and Gas Production Hits Record High
The reporter learned from China National Offshore Oil Corporation on the 23rd that China's offshore oil and gas production will exceed 65 million tons of oil and gas equivalent in 2020, a record high.
Oil&Gas Drilling
24-12-2020

Equatorial Guinea Makes Advances on 100-Day Mining and Petroleum Milestones
The Ministry of Mines and Hydrocarbons shows progress in gas development and mining exploration. Published by Africa Oil & Power for the MMH.
LNG
24-12-2020

Daewoo E&C Bags 500 Bil. Won LNG Plant Project in Mozambique
Daewoo Engineering & Construction has won an LNG plant construction project in Mozambique for 500 billion won after jointly winning a 5-trillion-won order for an LNG plant in Nigeria in May.
Crude Oil
24-12-2020

Petrobras on New Well in Búzios Field
Petrobras has confirmed oil of excellent quality with the drilling of well 9-BUZ-48D-RJS, located in the extreme northwest of Búzios field in the Santos Basin.
Crude Oil
24-12-2020

Russia’s Crude Oil Exports Drop 10% In January-October
Due to lower demand and the OPEC+ deal, Russia’s crude oil exports declined by 10.4 percent in volume year over year in January to October, data from the Russian federal customs, cited by local cargo analytics outlet SeaNews, showed.

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