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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
19-06-2020

OPEC Changed its Forecast for Oil Production in Azerbaijan
OPEC reported in June that it predicted azerbaijan would reduce its output by an average of 70,000 barrels a day to 720,000 b/d in 2020, compared with 700,000 b/d in its previous report.
Crude Oil
19-06-2020

U.S. Oil Dominance is Coming to an End
The U.S. tight oil or shale rig count has fallen 69% this year from 539 in mid-March to 165 last week.
Oil & Gas Trade
19-06-2020

Venezuelan Oil Production Sinks to Lowest Output in 77 Years
Crisis-wracked Venezuela's relentless fall in oil production sunk to a new low in May, according to OPEC figures, a milestone in a decade of decline for the once proud petroleum powerhouse.
Oil & Gas Trade
18-06-2020

OPEC to Host Technical Workshop for 60th Anniversary
The Organization of Petroleum Exporting Countries will host a special technical workshop titled OPEC at 60 to commemorate the foundation of its 60th anniversary, OPEC announced in a statement on Wednesday.
Oil&Gas Drilling
18-06-2020

Equinor Approved to Use Transocean Norge for Exploration Drilling in the Norwegian Sea
The Norwegian oil safety authority has agreed to allow Equinor to use TransoceanNorge to plug and drill the 6407/1-a-3bh /CH well.
Africa Energy
18-06-2020

Nigeria Plans to Tender 57 Marginal Oil Fields
The Nigerian Ministry of Petroleum Resources has announced that it will open a new round of bidding for oilfield development this year, involving 57 marginal oilfields.
LNG
18-06-2020

BC LNG Alliance Goes National with New Name: Canadian LNG Alliance
The BC LNG Alliance recently announced it is now the Canadian LNG Alliance.
Market Analysis
18-06-2020

Magellan Sees 3Q Gasoline Demand Recovery
Fuel demand in Magellan's Midstream Partners' more rural central US markets has recovered faster than more urban regions, chief executive Mike Mears said today.
Crude Oil
18-06-2020

Oman Steps Up Plan to Build Middle East's Biggest Oil-Tank Farm
Oman's ambitious goal of building the biggest oil-storage facility in the Middle East is finally progressing, more than seven years after the Gulf sultanate announced the plan.
Oil & Gas Trade
17-06-2020

Russia July Crude Oil and Fuel Oil Export Tariffs Rose to 5.16 US Dollars / Barrel
The Russian Ministry of Finance issued a statement on Monday saying that as oil prices recovered, Russia set the July export tariff for crude oil and fuel oil at US$37.8/ton.
Crude Oil
17-06-2020

China at Record Pace on Storage, Propping Up Oil Prices
China has been replenishing its oil reserves at a record pace.
Crude Oil
17-06-2020

Venezuela's Oil Exports have Plunged
Venezuela's oil exports have fallen nearly 28% in the first half of June, on course for the lowest level in over 70 years as tanker owners and operators suspend contracts for transporting crude oil.
Oil&Gas Drilling
16-06-2020

OPEC+ may be Able to Ramp up Oil Production in 2021: IEA
The IEA predicts oil demand will grow 3 million b/d more than supply in 2021, as it released its first estimates for next year in its June 16 outlook, which would mean shifting some of the huge stock overhang that has built up.
China Energy
16-06-2020

China Imported 47.97 Million Tons of Crude Oil in May
China's crude oil imports increased from a decline in May, and international crude oil prices rebounded rapidly.
Oil Shale
16-06-2020

EIA Forecasts U.S. Shale Oil Output Decline of 93,000 Barrels a Day in July
Crude-oil production from seven major U.S. shale plays is forecast to decline by 93,000 barrels a day in July to 7.632 million barrels a day.
Africa Energy
16-06-2020

Petrol Price goes up as Diesel, Kerosene Pump Rates Drop in Kenya
The price of super petrol has increased by Sh5.77 while those of diesel and kerosene dropped by Sh3.80 and Sh17.31 per litre respectively.
Crude Oil
16-06-2020

Yemen Aims to Raise Oil Output 25 % within Months
Yemen aims to raise its crude oil production by 25% to 75,000 barrels per day in the coming months.
Oil Price
15-06-2020

BP Takes Hit of Up to $17.5bn As it Forecasts Cheaper Oil
BP has forecast lower oil prices for decades to come as governments speed up plans to cut carbon emissions in the wake of the coronavirus pandemic.
Africa Energy
15-06-2020

Nigeria Now in Full Compliance with Daily Oil Output
Nigeria had previously failed at complying completely with its promised cuts in past months.
Oil Pipeline
15-06-2020

Will America's Pipeline Operators Survive the Oil Crisis?
Pipeline utilization by mid-stream US oil and gas companies has fallen sharply in recent months.
Oil & Gas Trade
14-06-2020

Turkey to Receive 6 bcm of Natural Gas from Azerbaijan by June's End
The Trans Anatolian Pipeline will reach a milestone this month as six billion cubic meters (bcm) of natural gas is set to be delivered to Turkey by the end of June.
Oil & Gas Trade
14-06-2020

Iran Pressures South Korea To Pay Debts For Oil Exports
The governor of Iran's Central Bank has threatened legal action against South Korea if the Asian country’s banks refuse to unlock billions of dollars owed to Iran for oil exports.
Gas Turbine
14-06-2020

Caterpillar China Tianjin Ltd. Manufactures First Gas Engine For Oil & Gas Application
Caterpillar Oil & Gas has manufactured its first gas engine at Caterpillar China Tianjin Ltd. (CTL) for oil and gas applications. According to Caterpillar.
Oil Field
13-06-2020

'Roadmap' Ready to Douse Assam Oil Well Fire
A 'roadmap' has been chalked out to douse Assam's oil well fire, which continues to blaze for the fourth day on Friday and has till now claimed two lives.
LNG
13-06-2020

Liquefied Gas Tank Explosion in Russia's Kazan kills 1, Injures 3
A gas explosion at a Gazprom distribution centre in the Russian city of Kazan has killed one person and left three injured.

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