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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
19-08-2020

Renewables Could Cut LNG Plant Emissions by 8%
Using renewable energy could help the Asia Pacific region cut carbon emissions from liquefied natural gas plants by 8%.
Oil&Gas Drilling
18-08-2020

Trump Administration Looks at Allowing Longer Extensions to Remote Offshore Wells
The U.S. government is considering changes to policies for oil companies operating in the offshore Gulf of Mexico that might allow existing platforms to lengthen extensions to remote wells, a U.S. official said on Monday.
Oil & Gas Trade
18-08-2020

Tehran Says Fuel Seized by US Belonged to Venezuela, Not Iran
Iran’s Foreign Minister, Mohammad Javad Zarif, has refuted allegations, saying that the vessels involved in what he described as an act of “piracy” were not Iran-flagged and the fuel onboard belonged to Tehran.
Oil&Gas Drilling
18-08-2020

Trump to Open Alaska Arctic Refuge to Oil Drilling for First Time
The Trump Administration is set to open the Arctic National Wildlife Refuge in Alaska to oil drilling for the first time by approving a drilling program on Monday.
Oil & Gas Trade
17-08-2020

OPEC+ Seeks to Defend Oil-Market Gains as Demand Outlook Darkens
OPEC and its allies have achieved the oil-market equivalent of a high-wire act: increasing supply even as demand remains depleted, without crashing prices.
Oil and Gas Equipment
17-08-2020

Iraq to Send Second Round of Gasoil Supplies to Lebanon
Iraq is sending a second round of gasoil supplies in aid to Lebanon following the massive blast that wiped out much of the Lebanese capital Beirut's port and surrounding areas earlier this month.
LNG
17-08-2020

Low Gas Prices Could Derail Papua New Guinea’s LNG Ambitions
Papua New Guinea first started producing liquefied natural gas in April 2014 when the flagship $19bn PNG LNG project came on-line months ahead of schedule.
Oil and Gas Equipment
17-08-2020

Nigeria: Rainoil’s New 8000metric ton LPG Tank Helps Widen Expansion
Rainoil Limited’s newly built 8000metric ton capacity Liquefied Petroleum Gas tank, with fleet capacity of 40 trucks, has been launched, targeted at deepening penetration of the commodity in-country.
15-08-2020

IEA Lowers 2020 Oil Demand Forecast Citing Dismal Aviation Sector
The International Energy Agency (IEA) cut its 2020 oil demand forecast on Thursday, warning that reduced air travel due to the coronavirus pandemic would lower global oil demand this year by 8.1 million barrels per day.
Azerbaijan
15-08-2020

BP Says it has no Plans to Scale down Oil and Gas in Azerbaijan
British oil major BP has no plans to scale down its oil and gas business in Azerbaijan amid global plans to rebalance its portfolio towards renewables.
United States
15-08-2020

Trump Administration to Roll Back Curbs on Methane from Oil, Gas Operations
The EPA is expected to retain some of the rules issued in 2012 that control methane emissions and also limit those of so-called volatile organic compounds that cause smog.
Crude Oil
14-08-2020

California Oil Production Limits Stall in Legislature, Leaving the Issue to Newsom
In his first year in office, Gov. Gavin Newsom vowed to protect Californians against hazards and pollutants from oil and gas production.
Crude Oil
14-08-2020

Private Chinese Refiner Boosts Crude Storage Capacity
Private Chinese firm Hengli Petrochemical, which operates one of the largest private refineries in China, has boosted its crude oil storage capacity.
Oil & Gas Trade
14-08-2020

Venezuela Looks To Ease Gasoline Shortage By Restarting Production Units
Venezuela’s state-owned oil firm PDVSA looks to restart another gasoline-producing unit soon, hoping to ease the gasoline shortages in the country.
Libya
13-08-2020

Libya Suffers over $8 Billion Losses in Blockaded Oil Production
Libya has suffered over $8 billion in losses as a result of the oil blockade and the closure of oil wells by Khalifa Haftar’s forces in the past 200 days, the National Oil Corporation (NOC) announced.
United States
13-08-2020

IEA Lowers 2020 Oil Demand Forecast Citing Dismal Aviation Sector
The International Energy Agency (IEA) cut its 2020 oil demand forecast on Thursday, warning that reduced air travel due to the coronavirus pandemic would lower global oil demand this year by 8.1 million barrels per day.
Philippines
13-08-2020

Shell Unit Shuts Philippine Refinery as Ppandemic Slashes Margins
The Philippine unit of Royal Dutch Shell said on Tuesday it will permanently shut one of the country’s two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow.
Oil Field
13-08-2020

Kazakhstan Reduces Production of Oil and Condensate by 1.4%
Oil and condensate production decreased by 1.4% in seven months of 2020.
Russian Federation
12-08-2020

Huge Blast Rips Through Gas Station in Russian City of Volgograd, Injuring at Least 13
At least 13 people are injured following an explosion sparked by a fire at a gas station in Volgograd, Russia, with 10 of the victims being rushed to the hospital.
Oil & Gas Trade
12-08-2020

Russia's Oil Product Exports to the U.S. Jump to 16-Year High
Russia's exports of petroleum products to the United States more than doubled in the first half of 2020 compared to the same period last year.
Gas power plant
12-08-2020

Siemens and BP to Expand Largest Gas-to-Power Project in Latin America
Brazil-based State Power Investment Corporation, has signed a deal with EIG Global Energy Partners, bp and Siemens to acquire a 33% stake in the largest gas-to-power project in Latin America.
LNG
12-08-2020

Sempra Energy Says Cameron LNG Plant Launches Full Commercial Operations
US energy company Sempra Energy said late Monday its $10 billion Cameron liquefied natural gas (LNG) export terminal in Louisiana has started full commercial operations under its tolling agreements.
LNG
12-08-2020

Brazil’s SPIC to Acquire Stake in LNG-to-Power Projects
Brazil’s State Power Investment Corporation (SPIC) has signed an agreement with Siemens, BP and Prumo to acquire a 33% stake in two LNG-to-power projects.
Oil & Gas Trade
11-08-2020

Shale Job Losses Accelerating and the Worst May be Yet to Come
Roughneck job cuts accelerated in July and the outlook may worsen as new Covid-19 cases stifle economic activity, according to the Petroleum Equipment and Services Association.
Saudi Arabia
11-08-2020

Saudi Aramco Says Profit Fell 73 Percent as Demand for Oil Shrank
Saudi Aramco, the world’s largest oil company, said on Sunday that its quarterly earnings plunged more than 73 percent compared to a year ago, as lockdowns imposed to curb the coronavirus pandemic drastically cut the demand for oil and slammed prices.

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