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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Price
12-06-2020

Rosneft Launches "Denationalization" Reorganization
Russia's largest state-owned oil company Rosneft experienced its first quarterly loss in eight years.
Oil & Gas Trade
12-06-2020

PGNiG to Supply LNG to LG Electronics in Poland
Polish oil and gas company, PGNiG, has announced a new deal to supply liquefied natural gas (LNG) to South Korean electronics manufacturer, LG Electronics.
Oil Price
12-06-2020

Oil Drops More than 8% as Fears Over Second Wave of Coronavirus Cases Hit the Market
Oil prices dropped more than 8% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.
Crude Oil
11-06-2020

OPEC+ Delivers 85% Compliance on Oil Output Cuts in May: S&P Global Platts Survey
OPEC and its allies slashed almost one-fifth of their crude oil production in May.
Africa Energy
10-06-2020

Libya's Oil Company Says Largest Oil Field Shut Down Again
The country's largest oil field to halt work just hours after it restarted operations.
Oil & Gas Trade
10-06-2020

Russia to Solidify Position as World's Largest Natural Gas Exporter Over Next 5 Years
Russia is projected to continue strengthening its position as the world’s leading exporters of natural gas over the next five years as its production growth will rise by 1.7 per cent annually.
China Energy
10-06-2020

The First Large Oilfield of 100 Million Tons was Discovered in the Northern Area of Laizhou Bay, China
"The first large oilfield of 100 million tons was discovered in the northern area of the Laizhou Bay in China's Bohai Sea!" This Kenli 6-1 oilfield has proven oil reserves of more than 100 million tons.
Crude Oil
10-06-2020

Refineries Around Asia Join Chinese Peers in Ramping up Oil Output
Refineries from India to South Korea are expected to join their Chinese counterparts in ramping up production from June.
Oil Field
10-06-2020

Massive Fire at Assam's Baghjan Oil Well
A massive fire engulfed the damaged Baghjan oil well on Tuesday which has been spewing gas uncontrollably for the last 14 days in Assam's Tinsukia district.
Gas Turbine
10-06-2020

General Electric Gets New Order from Japanese Power Producer JFE
General Electric has secured a new order from Japanese power producer JFE Steel for upgrading a gas turbine at Chiba Power Plant.
Oil & Gas Trade
09-06-2020

Oil Price Climbs to $42 as China's Imports Hit All-Time High
Oil prices climbed on Monday after OPEC+ agreed to extend a deal on record output cuts to the end of July and as China’s crude imports hit an all-time high in May.
LNG
08-06-2020

Avenir LNG Carrier Nearing Completion
Singapore's Offshore Technology Development has recently completed the installation of a ballast water treatment system on Avenir LNG's small-scale vessel.
Africa Energy
08-06-2020

Sharara Reopens in Libya
As the Government of National Accord makes gains in its military struggle with the Libyan National Army, the Sharara oilfield has restarted production.
08-06-2020

Trice Resigns as Hurricane Energy Chief Executive
Robert Trice has resigned as chief executive of Hurricane Energy amid a boardroom reshuffle at the firm.
08-06-2020

Venezuela's New Gasoline System Fails to End Epic Lines
Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend.
Oil Price
08-06-2020

Oil Advances Above $43 after OPEC+ Extends Production Cuts
Oil advanced above $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month.
Oil Price
08-06-2020

OPEC+ Extension Sets up Very Favorable Oil Price Conditions for the Rest of 2020
Russia and Saudi Arabia have just made a completely irrational effort to flood the global oil market.
Crude Oil
07-06-2020

Rig Count Plunges Below 300 in 13th-Straight Week of Losses
The number of operating drilling rigs in the U.S. fell below 300 for the first time, as energy companies continue to shut down oil-field operations amid low crude prices.
Crude Oil
06-06-2020

OPEC+ Meetings Postponed Until Mid-June
The OPEC+ group has postponed its technical and monitoring meetings until the middle of June.
Crude Oil
06-06-2020

Crude Oil Futures Rise on Spot Demand
Crude oil prices on Friday rose Rs 9 to Rs 2,826 per barrel as participants widened their positions on firm spot demand.
Crude Oil
06-06-2020

Indonesia Sees Product Demand Up 160,000 b/d by 2026
Indonesia expects domestic oil product demand to increase by 12pc or around 160,000 b/d by 2026, but an expansion of refinery capacity should eliminate the need for imports.
Crude Oil
05-06-2020

US Refiners Spread Out Heavy Maintenance Plans
Efforts to slow the spread of Covid-19 will lead to heavier US refinery maintenance over the next year.
Oil Field
05-06-2020

KrisEnergy Suspended Production at its Wassana Field Because of Oil Prices
KrisEnergy's operating Wassana field has been suspended pending further notice.
Market Analysis
05-06-2020

US Working Natural Gas Volumes in Underground Storage Rise 102 Bcf on Week:EIA
US working gas in storage increased by 102 Bcf last week, which was less than the market expected, but Henry Hub futures remained static following the report.
Africa Energy
04-06-2020

Libya Oil Production Comes to Halt as Economy Affected
The civil war enforced by the warlord Khalifa Haftar in Libya has brought oil production and exports to a grinding halt, creating financial strain on the UN-recognized Libyan government based in capital Tripoli.

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