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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
08-12-2020

Global Oil Prices May Remain Range Bound Between $40-50 per Barrel in 2021
The news of a successful coronavirus has ignited the oil market again with crude price moving up mire than 20 per cent in a month to hover close to $50 a barrel now.
Crude Oil
07-12-2020

Fitch Sees Brent At $45 Next Year
Fitch Ratings said it expected Brent crude to average $45 a barrel next year, following OPEC+’s decision to start raising production by 500,000 bpd monthly from January 2021.
OPEC
07-12-2020

Kazakhstan Supports Consensus in OPEC+ Agreement
The OPEC + countries decided to increase the supply of oil in January 2021 following a ministerial meeting of the organisation, which was held via videoconference on December 4.
Oil&Gas Drilling
07-12-2020

Denmark to End Oil and Gas Era in 2050
The Danish Parliament has announced that it will cancel all future licensing rounds for new oil and gas exploration and production permits in the Danish part of the North Sea and end existing production by 2050.
LNG
07-12-2020

Asian LNG Prices Rise to Nearly Two-Year High on Winter Demand
Asian spot prices for liquefied natural gas rose to a nearly two-year high this week as demand continued to be firm for heating during winter and as buyers faced supply issues, trade sources said.
Oil & Gas Trade
06-12-2020

Japan's Inpex Signs Gas Sales Agreement with Indonesia Gas Utility
A memorandum of understanding was signed between Inpex Masela Ltd and PT Perusahaan Gas Negara.
Kazakhstan
05-12-2020

Kazakhstan to Create Oil and Gas Engineering Development International Centre
An International Center for the Development of Oil and Gas Engineering will be created in Kazakhstan, the office of the Kazakh prime minister said on December 1.
Crude Oil
05-12-2020

Sudan's Oil Reserves Estimated at 6 Billion Barrels: Sudan's Energy Ministry
The ministry's oil chief also revealed that "the country currently produces 60,000 barrels per day, and is expected to reach 80,000 barrels per day in 2021."
Oil & Gas Trade
05-12-2020

Alaska’s Oil Exports Double Amid Strong Chinese Demand
While demand from U.S. West Coast refiners has been subdued, overall Chinese crude oil imports have held strong during the COVID-19 wave in China early this year.
LNG
04-12-2020

Australia’s LNG Exports at Nine-Month High
Australia's LNG exports rose to a nine-month high of 7.04mn t in October, driven by record shipments from the Queensland port of Gladstone.
Natural Gas
04-12-2020

Argentina Draws 16 Bids for Subsidized Gas Supply
Argentina received bids from 16 companies in a path-breaking auction to supply more than 70mn m3/d of natural gas at subsidized wellhead prices for power generation in 2021-24.
Oil Price
04-12-2020

OPEC+ Working on Compromise for 2021 Oil Policy
The OPEC, Russia and their allies, a group known as OPEC+, had been widely expected to extend existing oil cuts of 7.7 million barrels per day (bpd).
Oil & Gas Trade
04-12-2020

Brent Edges Higher as Opec+ Agrees More Moderate Production Increase
Oil prices crept up this evening after the Opec cartel and its allies agreed to a more gradual easing of production cuts next month.
Oil&Gas Drilling
04-12-2020

ConocoPhillips Starts Production from First Redevelopment of Shut-in Field in Norway
Oil major ConocoPhillips and its partners in the Tor Unit have started production from the Tor II project, which is located offshore Norway.
Oil Pipeline
03-12-2020

China-Russia Eastern Gas Pipeline Ventilates 3.85 Billion Cubic Meters of Gas a Year
The Sino-Russian East Route Natural Gas Pipeline ushered in the first anniversary of its operation and ventilation.
China
03-12-2020

OIL & GAS 50 2020 RANKING
Shell retains title of world’s most valuable oil & gas brand, brand value up 12% to US$47.5 billion.Saudi Aramco is new entrant in ranking taking second position, brand value US$46.8 billion...
Oil & Gas Supply
03-12-2020

Iraq Cuts Term Crude Supplies to Some European Cilents
Deliveries of Iraqi Basrah crude to Europe and the Mediterranean could drop next year after state-owned marketer Somo trimmed allocations for some of its term customers.
Oil Field
03-12-2020

BP Starts Drilling Platina Field Offshore Angola
Oil major BP has begun drilling on the Platina field in Block 18 offshore Angola using Valaris’ DS-12 drillship.
Oil&Gas Drilling
03-12-2020

Triangle Energy Restarts Production from Cliff Head Well
Australia’s Triangle Energy has resumed production from the CH-7 well at the Cliff Head oil field following a successful workover program.
Natural Gas
03-12-2020

India to See $66 billion Investment in Gas Infrastructure
India will see a massive $66 billion investment in the building of gas infrastructure as the government pushes for greater use of the cleaner fuel with a view to cutting down carbon emissions.
LNG
03-12-2020

Eni Strikes Deals to Reopen Egypt's Damietta LNG Plant
Italian energy group Eni has struck deals with Spanish gas firm Naturgy and Egyptian partners to resolve disputes over a shuttered gas plant it part owns in northern Egypt.
Crude Oil
02-12-2020

U.S. Briefly Became Net Petroleum Importer This Year
The United States briefly returned to being a net importer of crude oil and petroleum products in May and June this year, as U.S. crude oil and refinery output slumped at the start of the pandemic.
Oil&Gas Drilling
02-12-2020

Nigeria’s Oil Rig Count Drops by 30% in One Month
Nigeria’s active rig count has dropped significantly by 30 per cent to seven in October 2020 as against 10 recorded in the previous month.
Oil & Gas Trade
02-12-2020

Japan Says Reached Oil Storage Deal with Kuwait
Under the deal, KPC can use storage tanks at refiner Eneos' Kiire base in southern Japan of Kagoshima as an export base for eastern Asia.
Laos
01-12-2020

Laos' First Petroleum Refining Project is Put into Operation
The first phase of the 3 million tons/year refining and chemical project of Laos Petrochemical Co., Ltd. was officially put into operation on the 30th.

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