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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
14-05-2020

OPEC Expects Global Oil Demand Hits Biggest Downfall
The Organization of the Petroleum Exporting Countries now expects global demand to contract by 9.07 million barrels per day, or 9.1 per cent, in 2020, it said in a monthly report.
LNG
14-05-2020

Asian LNG Prices Spike 20% As Demand Returns
This week, the uptick in demand and the lower supply have sent LNG prices jumping.
Oil & Gas Trade
14-05-2020

Justin Trudeau Wants Canadian Oil Producers to Set Climate Targets
The comments come as Japan's biggest bank by assets said it would restrict transactions involving oil sands, while Norway's $1 trillion wealth fund blacklisted four of the industry's biggest companies.
Oil & Gas Trade
14-05-2020

India Oil & Gas Industry Might Need More Time to Recover
Most O&G CXOs believe that the recovery for the sector is likely to be longer, and more protracted than anticipated.
Oil Price
13-05-2020

Oil Jumps After Saudi Arabia, UAE And Kuwait Pledge Deeper Cuts
Oil prices rose early on Tuesday after OPEC's Middle East heavyweights pledged additional cuts, instilling hopes in the market that further production reductions could help accelerate the drawdown of the enormous oil oversupply.
Crude Oil
13-05-2020

Oil Drops in Early Asian Trading Amid Worries about Second Wave Pandemic
Oil prices fell in early Asian trading on Wednesday after industry data showed a rise in U.S. crude inventories and concerns mount about a possible second wave of the coronavirus pandemic in countries easing lockdowns.
Crude Oil
13-05-2020

U.S. Crude Output to Drop, Oil Demand to Slump by 2.2 Million Barrels Per Day in 2020
U.S. oil demand is expected to fall by about 2.2 million barrels a day in 2020.
Oil Price
13-05-2020

Aramco Earnings Plunge By 25% As Low Oil Prices Persist
Despite the profit slump of US$6 billion in Q1, Aramco’s free cash flow was more resilient and fell to US$15 billion from US$17.4 billion in Q1 2019.
Oil & Gas Trade
12-05-2020

Saudi Aramco Will Continue to be Under Pressure as First-quarter Profit Slides 25%
Saudi Aramco reported a 25% fall in net income for the first quarter on Tuesday, as the state-owned oil giant battles with a dramatic slide in crude prices and cratering global demand.
LNG
12-05-2020

Australia's LNGL Plans Sale of Magnolia LNG Project
Australian firm LNG plans to sell the 8mn t/yr Magnolia LNG project in Louisiana for $2.25mn to a firm called Global Energy Megatrend.
Crude Oil
12-05-2020

Saudi Arabia to Cut June's Oil Production
Saudi Arabia's Energy Ministry has directed the national oil company Aramco to further reduce crude oil production for June by an additional 1 million barrels per day (bpd), state media reported.
Oil & Gas Trade
12-05-2020

Topside Installed for Norway's Nova Field
Wintershall Dea's Nova field will be tied back to a platform at the Neptune Energy-operated Gjoa field.
Oil & Gas Trade
12-05-2020

The Oil and Gas Industry is Losing Young Professionals
The oil and gas industry is grappling with a growing employment crisis as young professionals steer clear of the ailing industry
Oil Field
12-05-2020

Petrobras Reports Pre-salt Discovries in the Santos and Campos Basins
Petrobras has confirmed pre-salt oil discoveries in the southeast area of the Buzios field in the Santos Basin and in the Albacora field in the Campos Basin.
Oil Price
12-05-2020

Oil Price War Puts Entire Kingdom Of Saudi Arabia At Risk
At no time since Ibn Saud first consolidated his Arabian conquests into the Kingdom of Saudi Arabia in 1932 has the ruling Saud dynasty faced such an existential threat to its continued rule over the country.
Crude Oil
12-05-2020

UAE Making Even Bigger Cuts To Oil Production Next Month
The United Arab Emirates will cut even more oil production in June, UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei announced this week.
CNPC
11-05-2020

PetroChina Makes a New Natural Gas Find in Southwest China
PetroChina, through its affiliate PetroChina Southwest Oil and Gasfield Company , has discovered a large gas belt with an estimated reserve of over 1,000 bcm in the Sichuan Province.
Oil & Gas Trade
11-05-2020

NOC to Produce LPG in Sharara Oil Field for Local Consumption
National Oil Corporation’s subsidiaries and Repsol Consortium have reached the final stages of an ambitious study to recover LPG contained in flare gas in the Sharara oil field.
Oil Price
11-05-2020

Murphy Oil to Close Arknsas, Alberta Offices
Murphy Oil has announced that it is closing its legacy headquarters in Arkansas and shuttering an office in western Canada.
Oil & Gas Trade
11-05-2020

McDermott Wins Contract for LPG Spheres in Caribbean
A McDermott International subsidiary, CB&I Storage Solutions, has been awarded a contract for four storage spheres of liquefied petroleum gas.
LNG
11-05-2020

Nuclear Power to Be Replaced with LNG, Renewable Energy Powers
The South Korean government is planning to reduce the number of nuclear power plants in South Korea to 17 and halve the number of coal power generators to 30 by 2034.
Oil&Gas Drilling
11-05-2020

SOCAR Starts Drilling New Well at Umid Gas Field
The State Oil Company of Azerbaijan has started drilling a new well at the Umid-1 platform of the Umid field, the company told local media on May 5.
SINOPEC
11-05-2020

Sinopec Puts China's Largest Petrochemical Port into Operation
China's leading energy and chemical company, has put China's largest petrochemical port into operation with the successful docking and unloading of the New Renown, Crude Oil Tanker from the Middle East.
Oil Price
11-05-2020

Oil Glut Drives Oil Prices Lower
Oil prices opened about 1% lower on Monday in Asia as a persistent glut continued to weigh on prices and the coronavirus pandemic eroded global oil demand even as some governments began to ease lockdowns.
Crude Oil
09-05-2020

Goldman Sachs: Oil Demand Could Exceed Supply By End-May
Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting that this would be in no small part because of the production cuts implemented by all major producer

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