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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Field
29-04-2020

Neptune Energy Sees Delay to Start-Up of Fenja Oilfield
Production at the Fenja oil and gas field off Norway will be delayed due to the restrictions imposed as a result of the COVID-19 outbreak.
LNG
28-04-2020

US $2.8bn Export LNG Carriers to be Constructed in China
CSSC Chairman Lei Fanpei, Saad Sherida AI-Kaabi, president and CEO of Qatar Petroleum and the Minister of State for Energy Affairs signed the contract online on behalf of two parties.
Oil Price
28-04-2020

OPEC Sees Oil Rising To $40 In Second Half Of 2020
In China, which was hit first by the coronavirus, and which exited the lockdown first, the return to normalization in the transportation sector “is driving up global demand,” according to Algeria’s energy minister.
Crude Oil
28-04-2020

$10 Oil Forces U.S. Drilling Giant To File For Bankruptcy
Diamond Offshore Drilling has filed for Chapter 11 bankruptcy protection, becoming the second major victim of the oil market crash so far, after Whiting Petroleum filed earlier this month.
Crude Oil
28-04-2020

Oil Majors May Be Forced To Cut Crude Output In Nigeria
The new OPEC+ production cut deal to remove a total of 9.7 million bpd from the market in May and June enters into force on May 1.
Crude Oil
28-04-2020

Saudi Arabia Starts Production Cuts Ahead Of OPEC+ Deal
Oil prices plummeted again on Monday, with WTI Crude crashing by 23 percent to just $13 a barrel at 2:30 p.m. EDT.
Oil Price
28-04-2020

Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil War
President Donald Trump is considering all options available to him to make the Saudis pay for the oil price war as the crash that followed has done significant damage to the U.S. oil industry.
Crude Oil
28-04-2020

Petrobras Reverses Production Cuts as Fuel Demand Beats Expectations
Petrobras has cancelled most of the cuts it had announced.
Oil & Gas Trade
27-04-2020

Iran's Petrochem Revenues to Drop by 30 Pct over COVID-19
Iran's revenues from exports of petrochemical products will decrease by nearly one third as the novel coronavirus pandemic has posed an adverse effect on the international market, Press TV reported on Saturday.
Oil & Gas Trade
27-04-2020

China's Comprehensive LNG Import Price Down
China's comprehensive import price index for liquefied natural gas (LNG) fell last week, according to Shanghai Petroleum and Natural Gas Exchange (SHPGX).
Oil&Gas Drilling
27-04-2020

Satellites Reveal Depth of Permian Basin’s Methane Emissions Problem
A study shows leaked methane emissions across the Permian Basin in the 11 months to March 2019 were enough to supply two million homes with natural gas.
Oil & Gas Trade
27-04-2020

Russia’s Energy Ministry Expects Gradual Revival in Oil Demand in Second Half of Year
Minister Alexander Novak said before it happens oil producing countries should avoid filling of oil storage facilities to the full and prevent a market collapse.
Crude Oil
27-04-2020

Algeria Says Proven Oil Rserves at 10 Billion Barrels
OPEC member Algeria's proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels, Energy Minister Mohamed Arkab said on Sunday.
Oil Price
27-04-2020

US Oil Futures Dip over 7 Pct Amid Oversupply Concerns
Oil prices dropped noticeably Sunday night with the US benchmark down more than 7 percent amid persistent oversupply concerns.
Oil & Gas Trade
27-04-2020

Gas Sales Keep Wentworth on Plan for Dividend
Gas demand for Tanzania's wentworth resources will remain flat this year.
Oil&Gas Drilling
27-04-2020

Diamond Offshore Files for Chapter 11 Bankruptcy Amid Historic Oil Price Crash
Diamond Offshore Drilling Inc., a rig contractor owned by Loews Corp., filed for bankruptcy.
Oil & Gas Trade
27-04-2020

Refined Oil Product Freight Rates Nearly Double in a Week
Refined oil tanker rates surged this week to their highest level in 11 years.
Oil & Gas Trade
27-04-2020

Russia Halves Western Sea Oil Exports in May after OPEC+ Deal
Russia plans to halve oil exports from its Baltic and black sea ports in May.
Market Analysis
27-04-2020

When Oil Became Waste: A Week of Turmoil for Crude, and More Pain to Come
In its nearly 40-year history, U.S. oil futures have never fallen below $10 a barrel.
Oil Shale
26-04-2020

The Shale Suffering Has Only Just Begun
A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to contain the spreading of the coronavirus.
Oil & Gas Trade
26-04-2020

Japan Urges G20 Energy Summit to Address Importance of Stable Oil Prices
Japan hopes a Group of 20 energy ministers summit later on Friday will address the importance of stable oil prices and supply after OPEC and its allies agreed to make record production cuts, the country’s industry minister said.
Oil & Gas Trade
26-04-2020

Covid-19: Saving Nigeria from the Peril of Oil Economy
It is no gainsaying the fact that the global pandemic Coronavirus has made the world economy to shrink. With a sudden shutdown of most countries to contain the spread of the virus, economic activities have taken a serious nosedive in many nations.
Crude Oil
26-04-2020

Venezuela's Oil Output Could Fall Again Soon
On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela.
Oil Price
26-04-2020

5 Reasons Why Mexico's Oil Industry Is Destined For Disaster
Mexico has somewhat inadvertently found itself at the heart of the oil industry’s most burning issues of 2020.
LNG
26-04-2020

Iran Reaches Production Milestone At World's Largest Gas Field
Iran is now working quietly towards oil exports and petrochemicals.

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