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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
29-05-2020

China, India Soak Up Oil from Floating Storage as Demand Recovers
The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on a recovery in demand in China and India, trade sources and analysts said.
Oil&Gas Drilling
28-05-2020

ConocoPhillips Receives Consent to Use Valaris rig for Ekofisk Wells
Oil and gas exploration company ConocoPhillips has received consent from the Norwegian offshore safety watchdog Petroleum Safety Authority (PSA), to use a Valaris rig for plugging and abandonment on the Ekofisk field.
Oil&Gas Drilling
28-05-2020

Saipem and Equinor Sign Major Engineering Services Pact
Norwegian energy firm Equinor has awarded Italian oilfield service company Saipem a two-year frame agreement to provide engineering services globally.
28-05-2020

South African Petroleum Body Warns of Diesel Shortage
The South African petroleum industry association said South Africa was running low on diesel.
Crude Oil
28-05-2020

Oil Drops on Worse than Feared Rise in U.S. Fuel Stocks
Oil prices fell in early trade on Thursday after U.S. crude, gasoline and heating oil inventories all rose more than expected, dousing hopes of a smooth recovery in demand from coronavirus lockdowns.
LNG
27-05-2020

US to Become LNG Swing Producer as Capacity Utilisation Declines
Gas prices have been trading in the negative in recent months.
Oil & Gas Trade
27-05-2020

Russia Overtakes Saudi Arabia as the Largest Oil Exporter to China
Russia last month overtook Saudi Arabia as China's biggest supplier of crude oil, exporting 1.75m barrels a day to China on average, compared with Saudi Arabia's 1.26m b/d.Indeed, last month Saudi Arabia fell to third place among China's oil suppliers.
Oil & Gas Trade
27-05-2020

Iranian Oil Tanker Arrives at Venezuela's Largest Refinery
One of five Iranian tankers carrying much-needed gasoline and oil derivatives arrived Tuesday at Venezuela's main oil refinery, officials said.
Oil Price
26-05-2020

Oil Rises on View that Demand may Rebound Beyond Pre-Virus Level
Oil rose as the head of the International Energy Agency forecast demand will likely grow past its level before the global pandemic.
Crude Oil
26-05-2020

Surprise Boost for Nigeria's Economy Comes with Higher Oil Flows
Nigerian economic growth beat estimates in the first quarter as oil production rose to the highest in at least four years.
Oil Price
24-05-2020

Negative Pricing Seen Spreading from Oil to Gas
Almost a month after US crude oil prices collapsed into negative territory for the first time, European gas markets are facing the prospect of also slipping into the red zone themselves.
Oil & Gas Trade
24-05-2020

Which Oil Major Is Best Prepared For The Future?
European oil supermajors are slashing costs but sparing their renewable energy business. U.S. giants are cutting across the board and focusing on their core business above all else.
Oil&Gas Drilling
24-05-2020

Basra Begins Drilling the First Well in Majnoon Field
Drilling the first new production well in Majnoon oil field has started with national efforts after the withdrawal of Shell(Dutch-British oil and gas company), General Manager of Basra Oil Company Hassan Abdul-Jabbar announced on Saturday.
Oil & Gas Trade
24-05-2020

US and Iran on Collision Course Over Oil Shipments to Venezuela
The first of five Iranian oil tankers headed to Venezuela has arrived, amid tension over the possibility the United States could attempt to halt the deliveries.
Crude Oil
23-05-2020

Metals Can Leap Over the Oil Slick
After 2008, metals and oil rebounded together from the depths of the financial crisis, as China’s consumption of raw materials took off. This time, their recoveries may look quite different.
Oil Price
22-05-2020

Petronas Expects a Challenging Year as Q1 Profit Falls about 70 Pct
May 22, declined 4.66 per cent to US$34.38 per barrel.
Oil Price
21-05-2020

Canada Energy Minister: Oil Price Recovery will be Gradual
In an interview with Energy Intelligence, Sonya Savage, Energy Minister of Canada's hydrocarbon-rich province of Alberta said, the oil price recovery will be gradual.
Oil & Gas Trade
21-05-2020

Lukoil´s 1Q Hydrocarbon Production Fell
In the 1st quarter of 2020 Lukoil's daily hydrocarbon production (excluding the West Qurna-2 project) totaled 2,328 thousand boe per day, which is 2.1% lower year-on-year and 2.5% lower quarter-on-quarter.
21-05-2020

Shell Evacuates Foreign Staff From Iraq's Basra Gas Project
Shell (RDSa.L) temporarily evacuated foreign staff, numbering around 60, from Iraq’s Basra Gas Company for security reasons and flew them out of the country but production was not disrupted, officials and company executives said on Thursday.
CNPC
21-05-2020

China's Crude Oil Imports to Rise 2% y/y in 2020
China’s crude oil imports are expected to increase by around 2% in 2020 amid lower prices, while apparent crude oil consumption is seen rising by 1-2%, according to a think tank affiliated to China National Petroleum Corp(CNPC).
Oil & Gas Trade
20-05-2020

Malaysia's Petronas to Sell LNG to Chinese Firm's Tank Facility
Malaysia’s Petroliam Nasional Bhd [PETR.UL] has signed a deal to supply liquefied natural gas (LNG) to an ISO tank-filling facility owned by China’s Tiger Clean Energy in the eastern state of Sarawak, the state energy firm said on Wednesday.
Oil Field
20-05-2020

U.S. Energy Giant ExxonMobil Puts Stake In Azerbaijani Oil Field Up For Sale
ExxonMobil has again put its stake in Azerbaijan’s largest oil field up for sale despite a historic decline in oil prices linked to a decline in consumption due to coronavirus restrictions.
Oil & Gas Trade
20-05-2020

Chinese Oil Demand has Almost Rebounded to Pre-Pandemic Levels
Oil demand in China has almost returned to its level before the coronavirus pandemic spurred the government to impose lockdowns and shut down industries.
Oil & Gas Trade
19-05-2020

Coronavirus Creates Repair Headache for Oil and Gas Industry
The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say.
Oil & Gas Trade
19-05-2020

United States bump LNG exports in March
The United States increased the liquefied natural gas (LNG) exports in March with European countries remaining the top customers.

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