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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

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.
Oil Pipeline
24-12-2020

Nord Stream 2 to Start Laying Gas Pipes in Danish Waters
The Russia-led Nord Stream 2 consortium is expected to start laying gas pipes in Danish waters after construction was suspended for a year owing to the threat of sanctions from the United States.
Oil & Gas Trade
23-12-2020

Gazprom lifts Ukraine January Gas Transport Bookings
Russia's state-controlled Gazprom has booked considerably more gas transport capacity through Ukraine for January, although overall booked capacity is still set to fall from December.
LNG
23-12-2020

Korean Shipbuilders Enjoying Brisk New Order Intake at Year-end
Korean shipbuilders are enjoying a brisk new order intake at the year-end.
Crude Oil
23-12-2020

China Issues Higher Oil Import Quotas For 2021
China has issued the first round of crude oil quotas for next year, and it is 18 percent higher than the respective round for 2019, citing unnamed sources in the know.
OPEC
23-12-2020

Russian Energy Ministers Tells Biden Not To Disturb Oil Markets
Joe Biden’s presidency will hopefully not interfere with OPEC+ actions taken to rebalance oil markets, Russian Deputy Prime Minister and former Energy Minister Alexander Novak said this week.
Oil Field
23-12-2020

Gazprom & LUKOIL Sign Master Agreement to Develop Two Fields
Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, signed the Master Agreement on the terms of the development of the Vaneyvisskoye and Layavozhskoye subsurface areas in the Nenets Autonomous Area.
Oil Field
23-12-2020

ConocoPhillips Makes ‘Significant’ Oil Discovery off Norway
Oil major ConocoPhillips has made what it says is a significant oil discovery in production license 891 on the Slagugle prospect located 14 miles north-northeast of the Heidrun field in the Norwegian Sea.
Crude Oil
23-12-2020

India's Crude Oil Production Slips 5 pc in November
Crude oil production in November at 2.48 million tonnes was lower than 2.61 million tonnes produced in the same month a year back

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