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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
28-08-2020

Iraq Cuts Oil Exports in August, Pumps Below OPEC+ Target
Iraq's crude oil exports have fallen so far in August, according to shipping data and industry sources
China
28-08-2020

PetroChina Posts $4.4 Billion H1 Loss, Pledges Near-Zero Emissions by 2050
PetroChina Co pledged on Thursday to cut emissions to near zero by 2050, as it reported a plunge to a first-half net loss of 29.98 billion yuan on lower oil prices.
Oil Field
27-08-2020

Iran Fast Tracks Development Of Huge West Karoun Oil Field
The West Karoun fields together contain at least 67 billion barrels of oil in place and, with an average recovery rate currently of only around 4.5 per cent.
Oil & Gas Trade
27-08-2020

U.S. Oil Exports to China Soar 139% in July
U.S. crude oil exports to China grew by 139 percent on the year in July thanks to bargain hunting among Chinese buyers, making the U.S. the fifth-largest supplier of oil to the critical Chinese market.
Oil & Gas Trade
25-08-2020

Azerbaijan's Exports of Petroleum Products Increase by 16% in the First Seven Months of 2020
From January to July 2020, Azerbaijan exported 706,000 tons of petroleum products, valued at US$190 million.
Oil Field
25-08-2020

Brazil's Petrobras Puts Another Small Refinery and 26 Oilfields on the Block
Brazil's Petrobras has initiated the sale process for a group of 26 onshore and shallow water oilfields and a small nearby refinery in the northeastern part of the country.
Oil & Gas Trade
24-08-2020

Singapore's Non-Oil Domestic Exports in July Increased by 6% Year-on-Year
According to data released by the Singapore Enterprise Development Board on August 17, Singapore’s non-oil domestic exports in July continued the upward trend in June
Oil & Gas Trade
24-08-2020

Middle East Share of India's Oil Imports Hits 2-Year High in July
Middle Eastern oil accounted for 71.5% of India's oil imports in July.
Crude Oil
24-08-2020

Iraq Pledges to Deepen Oil Output Cuts in August, September
Iraq said on Friday it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the past three months.
Oil & Gas Trade
24-08-2020

US Slashes Nigerian Oil Imports by 11.67m Barrels
The United States slashed its imports of Nigerian crude oil to 9.37 million barrels in the first five months of this year, 11.67 million barrels lower than what it bought in the same period of 2019.
Russian Federation
21-08-2020

Gazprom Neft profit slumps 80% in Q2
Russia's Gazprom Neft, the oil business of state gas company Gazprom, said weak oil prices had driven a near 80% slump in second-quarter net profit to 22 billion roubles ($297m).
Crude Oil
21-08-2020

India’s July Crude Imports Fall to Decade Low
India's crude imports hit a decade low in July, falling by a record 36pc or 1.67mn b/d on the year because of a nationwide Covid-19 lockdown and sliding refining throughput.
Crude Oil
21-08-2020

Angola Oil Output to Fall Below 1.2mn b/d by 2023: ANGP
The agency predicts a slight rebound next year but expects the growth to be short-lived.
Oil&Gas Drilling
21-08-2020

World’s Largest Offshore Rig Owner Files Bankruptcy
UK-based offshore drilling contractor Valaris has filed for bankruptcy protection in the United States, offering creditors to swap some $6.5 billion of its $7.8-billion debt pile for equity.
United States
20-08-2020

High-Stakes Presidential Race Casts Cloud Over Future of US Shale
There is much at stake for the US shale oil industry in the forthcoming US presidential race. History shows us that the oil and gas industry did not prosper under the last two Democratic administrations.
Oil & Gas Trade
20-08-2020

Libya to Export Only Oil Accumulated in Terminals, LNA Says
Libya, following the resumption of the operation of oil facilities, will export only oil accumulated in port terminals, crude produced at deposits will not be exported, Libyan National Army spokesman Major General Ahmad al-Mismari said.
Market Analysis
20-08-2020

Origin Braces for Tougher Year as Virus Hammers Energy Markets
Australian power giant Origin Energy is bracing for a tougher-than-expected year ahead as lower wholesale electricity prices erode profits and the oil price crash flows through to sales of liquefied natural gas.
Oil&Gas Drilling
20-08-2020

OPEC+ Stresses Need for All Members to Comply with Output Cuts
The outcome of the meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) on Wednesday was as predicted.
Nigeria
20-08-2020

NPDC Planning 500,000 barrel of Crude Oil Per Day
Group Managing Director of the Nigeria National Petroleum Corporation, Mele Kyari, has assured that the Nigeria Petroleum Development Company will scale up its production to 500, 000 barrels of crude oil per day in the next two years to meet domestic cons
Crude Oil
20-08-2020

Global Oil Demand is Expected to Return to 97% of Pre-Epidemic Levels by the End of the Year
At the OPEC and OPEC+ ministerial video conference that global oil demand is expected to return to the new crown by the end of 2020 97% of the level before the outbreak
Crude Oil
20-08-2020

Opec+ Needs Cumulative 2.3mn b/d of Compensation Cuts
Opec+ members that exceeded their crude production ceilings in May-July went over their quotas by a cumulative 2.3mn b/d and will need to compensate for this excess over the next two months.
Crude Oil
20-08-2020

Could The GNA Ever Successfully Control Libya’s Oil?
The success of the Tripoli-based Government of National Accord in forcing the withdrawal of the eastern-based Libyan National Army from northwestern Libya has led to a temporary détente in the conflict.
Oil Pipeline
20-08-2020

Egypt Brings Online New Crude Pipeline at al-Hamra port
Egypt has brought online a new crude oil pipeline at the al-Hamra petroleum port on the Mediterranean Sea.
Oil & Gas Trade
20-08-2020

US Eyes October Deadline to End Exemptions on Venezuela Oil Sanctions
The United States is considering an October deadline for ending exemptions to Venezuelan sanctions that allow some companies and refiners to still receive the South American producer's oil.
Oil&Gas Drilling
19-08-2020

Total Restarts Drilling off Angola
French oil major Total has resumed oil drilling offshore Angola with the Skyros rig while two more are expected to start operations in the week to follow.

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