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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
05-05-2020

Venezuela Oil Exports Climb As OPEC Agreement Kicks In
While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil exports—even in the face of US sanctions and Rosneft pulling the plug on its dealings with PDVSA.
Crude Oil
03-05-2020

Saudi Must Reduce Expenditures to Ease COVID-19 Economic Impact: Minister
Saudi Arabia "must reduce expenditures" to mitigate the economic impact of the COVID-19 pandemic, Finance Minister Mohammed al-Jadaan said.
Oil Shale
03-05-2020

Exxon, Chevron Slam Brakes on Shale as Oil Demand Tumbles
Exxon Mobil Corp and Chevron Corp are slamming the brakes on U.S. shale oil production at a time when crude prices and fuel demand have plunged due to global lockdowns to fight the coronavirus pandemic.
Crude Oil
03-05-2020

Oil Rises Further Above US$26 as Opec+ Begins Record Cuts
Oil rose further above US$26 a barrel on Friday as Opec and its allies embarked on record output cuts to tackle a supply glut due to the coronavirus crisis that has been weighing on the market.
Oil Price
03-05-2020

Canada’s Oil Patch Struggles To Survive The Worst Recession Ever
Canada is likely going through its worst-ever recession, with more pain to come in May when the statistics authorities and analysts will have a fuller picture of the economic disaster brought about by the coronavirus pandemic and the measures to curb its
Crude Oil
02-05-2020

Oman Plans About 30 Per Cent Cut in July Crude Allocations
Oman has notified all its crude oil term customers of a cut of about 30 per cent in their allocations for July loading and delivery, Oman's oil and gas ministry said on Thursday.
Oil Price
02-05-2020

Chevron Slashes Capex Again To Protect Dividend In Oil Price Rout
U.S. oil supermajor Chevron Corporation (NYSE: CVX) reduced its capex guidance for the second time in two months to protect its dividend, as it warned on Friday that its financial results would continue to be depressed as long as oil prices stay low.
Crude Oil
02-05-2020

Russian Oil Output Jumped to 11.35 Mln Bpd in April, Ahead of cuts
Russia raised oil and gas condensate output in April to 46.45 million tonnes, or 11.35 million barrels per day (bpd), from 11.29 million bpd in March, Interfax reported on Saturday, before it makes cuts this month under a global supply pact.
Crude Oil
02-05-2020

Oil Tanker Rates Plunge More Than 50% As OPEC+ Cuts Start
The daily rate for chartering an oil tanker from Saudi Arabia to China has plunged by over 50 percent in one week to $100,000 as OPEC+ begins on Friday the collective cut to remove 9.7 million bpd from the oversupplied market, Bloomberg reports, citing t
Oil Price
01-05-2020

OPEC+ Oil Production Hits 13-Month High As Output Cuts Start
After the collapse of the previous OPEC+ deal in early March, OPEC opened the taps in April, pumping at its highest level in 13 months.
Oil Price
30-04-2020

OPEC Daily Basket Price Stands at $14.36 a Barrel Wednesday
The price of OPEC basket of thirteen crudes stood at $14.36 a barrel on Wednesday, 29th April, 2020, compared with $12.41 the previous day, according to OPEC Secretariat calculations.
Oil & Gas Trade
30-04-2020

Azerbaijan's SOCAR Says BP to Cut Oil Output by 76,000 Bpd in May-June
Azerbaijan’s state energy company SOCAR said on Thursday that BP, which leads a number of big energy projects in the former Soviet country, will cut its oil production by 76,000 barrels per day (bpd) in May-June.
Oil Price
30-04-2020

Australia's Woodside Sees Low Oil Prices into 2021
Australian independent Woodside Petroleum expects low oil prices to persist for the rest of 2020 and into next year.
Oil&Gas Drilling
30-04-2020

Fenja, Neptune's First Operated Development Project on the Norwegian Shelf
On April 28, Neptune Energy announced the drilling campaign on the Fenja field is now underway.
Oil & Gas Trade
30-04-2020

Belarus Buys First Oil from Saudi Arabia: Refiner Belneftekhim
Belarus, long dependent on Russian oil, has bought its first barrel of crude from Saudi Arabia.
Crude Oil
30-04-2020

Oil Major Chevron Could Be Forced To Cut Oil Production In Kazakhstan
Kazakhstan is in talks with the companies operating its two sizeable offshore oil projects to reduce total output by 22 percent in compliance with the latest OPEC+ production cut agreement.
Crude Oil
30-04-2020

Russia Calls For Market Share Target For OPEC+
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are.
Crude Oil
30-04-2020

Russian Oil Production Set For First Annual Drop Since 2008
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news agency Interfax in an interview published on Wednesday.
Oil&Gas Drilling
30-04-2020

Russia’s Grand Plan For Arctic Oil Is Under Threat
Russia's oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the industry from the iconic fields on the shores of the Caspian in present-day Baku, Azerbaijan.
Oil & Gas Trade
29-04-2020

U.S. Oil Futures Plunge Nearly 25 Pct Amid Fears of Filled Storage
Oil prices fell significantly on Monday with the U.S. benchmark down nearly 25 percent amid fears over a growing scarcity of oil storage space.
Crude Oil
29-04-2020

U.S. Oil Companies Begin Sending Crude To Strategic Petroleum Reserve
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official.
Oil Price
29-04-2020

Canada’s Oil Firms Set To Curtail Output By At Least 1 Million Bpd
Companies in Canada have already reacted to the oil price plunge, but analysts and investors will be looking for further clues in the earnings reports about how they plan to go through the second major oil crisis in just five years.
LNG
29-04-2020

The LNG Market Is“Imploding”
The global market for natural gas is also cratering.
Oil & Gas Trade
29-04-2020

China Set to Issue First-Ever Export QQuotas for VLSFO of 10 mln T for 2020
China is set to release its first-ever quotas to export very low sulphur fuel oil with total volumes of 10 million tonnes for this year.
Oil & Gas Trade
29-04-2020

India to Launch Natural Gas Trading on Electronic Platform Next Month
The Indian natural gas exchange will start trading gas on its platform next month.

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