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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
20-07-2020

LNG Markets May Not Recover Until 2021
The cash margin for U.S. LNG exporters improved slightly in the second quarter, but will likely remain negative for the duration of 2020.
Oil & Gas Trade
20-07-2020

Kuwait's Oil Sector Cancels Several Tenders & Projects to Cut Costs
Kuwait Petroleum Corporation and its subsidiaries have started to cancel a large number of unimportant tenders and contracts within the budget of the current fiscal year.
Russian Federation
20-07-2020

Oil Price of $40-43 per Barrel more or Less Balanced
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening of the OPEC+ production restrictions.
United States
19-07-2020

India to Create its First Overseas Oil Stockpile in US
India is moving to store oil in the US, the first time world’s third-largest oil guzzler is creating an emergency reserve abroad to take advantage of low prices and guard against possible supply disruptions.
United States
19-07-2020

US Oil & Gas Rig Count Falls to Record Low for 11th Week: Baker Hughes
The US oil and gas rig count, an early indicator of future output, fell by five to an all-time low of 253 in the week to July 17.
Crude Oil
19-07-2020

Crude Shipments Resume from Pemex Floating Oil Storage Unit After Collision
An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month.
Mozambique
19-07-2020

Total Secures $14.9 bn to Finance Mozambique Gas Project
French oil giant Total on Friday said it had signed a $14.9 billion financing agreement for a gas project in northern Mozambique.
Norway
18-07-2020

Norway’s Oil Industry Is Beginning To Recover
Norway sees oil and gas activity picking up after the market turmoil and the health crisis earlier this year, the Norwegian Petroleum Directorate said in its first-half activity report on Friday.
Crude Oil
17-07-2020

Eni to Accelerate Conversion of its Conventional Oil Refineries into Biorefineries
Initially planned to be completed in around thirty years, the transformation of Eni’s conventional oil refineries into biorefineries will be done over the next decade.
China
17-07-2020

Oil Down ith OPEC+ Signaling Production Cuts, While U.S.-China Tensions Rise
Oil was down on Thursday morning in Asia as OPEC announced the easing of production cuts after its Joint Ministerial Monitoring Committee meeting on Wednesday.
Oil & Gas Trade
17-07-2020

Tanker off UAE Sought by US Over Iran Sanctions ‘Hijacked’
An oil tanker sought by the U.S. over allegedly circumventing sanctions on Iran was hijacked on July 5 off the coast of the United Arab Emirates.
Kazakhstan
17-07-2020

Kazakhstan to Fulfil its Obligations Under the OPEC+ Agreement
The ministry recalled that representatives of Kazakhstan told the OPEC+ secretariat that in the first 12 days of May there was an overproduction of oil in the country due to the inertia of the industry.
Oil & Gas Trade
16-07-2020

U.S. LNG Exports Will Fall to 25%
The average US LNG export volume in June was 3.6 billion cubic feet per day, and the average export volume in July.
Oil&Gas Drilling
16-07-2020

Global Oilfield Services Under Pressure from Oil Price Drop
Exploration-focused oilfield service companies will face the largest demand decline as a result of oil and gas producers cutting their capex and operating expenditure.
Oil Field
16-07-2020

Petrobras Reaches New Production Record at Búzios Field
Brazilian oil and gas company Petrobras has reached a production record on its operated Búzios field located in the Santos Basin pre-salt offshore Brazil.
Crude Oil
16-07-2020

OPEC Adjusts Oil Demand to 8.9 Million bpd for 2020
The Organization of the Petroleum Exporting Countries, yesterday, revised downward its world oil demand in 2020.
Oil & Gas Trade
15-07-2020

Venezuela Restarts Gasoline Output At Only Operating Refinery
Venezuela's state oil firm PDVSA has resumed gasoline production at the only operating refinery in the country home to the world's largest oil reserves that is experiencing severe gasoline shortages.
Crude Oil
15-07-2020

The Middle East Nation Reopening its Doors to Iraqi Oil
It will also serve to consolidate the Shia crescent of power falling across the region by dint of Iran, and its prime backers, China and Russia.
Oil&Gas Drilling
15-07-2020

Oil And Gas Drilling Set For A Multi-Decade Low In 2020
The number of drilled wells globally is expected to reach around 55,350 this year, the lowest since at least the beginning of the century.
Crude Oil
15-07-2020

Oil Rises Slightly Ahead of OPEC+ Meeting
Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June.
Oil & Gas Trade
14-07-2020

U.S. Ups Pressure to Push Venezuela Oil Exports to Zero
“What you will see is most shipowners and insurance and captains are simply going to turn away from Venezuela,”
Crude Oil
14-07-2020

Iran Expands Oil Production Capacity
Iran is taking a step that would seem counterintuitive in an environment of subdued demand for oil and oil products.
Oil Price
14-07-2020

Oil Down as Opec+ Prepares to Lower Output Quotas
Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.
China Energy
14-07-2020

China Sinochem's Quanzhou Petchem Project Start Delayed to Late-August
China Sinochem Group's Quanzhou 32.5 billion yuan ($4.64 billion) petrochemical expansion project is aiming to start trial operations in late August.
LNG
13-07-2020

Cyprus Starts Work on First LNG Import Terminal
Cyprus has started building its first LNG import facility at Vassilikos, the nation’s largest and most expensive energy project.

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