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Oil & Gas

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level

Oil & Gas Trade
16-05-2020

US Oil, Gas Rig Count Hits Record Low for Second Consecutive Week
The rig count, an early indicator of future output, fell by 35 to a record low of 339 in the week to May 15, according to data from energy services firm Baker Hughes Co. going back to 1940.
Oil Shale
15-05-2020

U.S. Shale Needs To Slow Down To Survive
Global oil refining production could start rebounding in June, the IEA said on Thursday, but refiners’ margins may be squeezed due to rising crude prices as producers slashed output much faster than expected.
Crude Oil
15-05-2020

China Crude Oil Runs Rebound in April as Fuel Demand Picks Up
The country processed a total of 53.85 million tonnes of crude oil last month, data from the National Bureau of Statistics (NBS) showed on Friday, equivalent to about 13.1 million barrels per day (bpd).
Crude Oil
15-05-2020

Oil Hits One-Month High as Signs of Demand Emerge Amid Coronavirus Crisis
Oil prices jumped more than 3% on Friday, touching more than one-month highs amid signs that demand for crude was picking up with China reporting increased refinery runs, and rounding out a week of bullish news on the supply front.
15-05-2020

New Gas Master Plan to Boost Africa's First Offshore Gas Mega Hub
The offshore gas mega-hub will be the first such venture capital hub off the coast of Africa.
Oil Field
15-05-2020

Somalia Readies for First Bid Round of Oil Fields
Somalia is preparing for a bid round covering seven blocks in its offshore with the official opening due on August 4.
Oil Field
15-05-2020

ONGC Awards 49 Marginal Fields to 7 Companies Amid Corona Crisis
India's oil and gas corporation awarded 49 marginal producing oil and gas fields to seven companies late on Thursday.
Crude Oil
15-05-2020

Petrobras Books $8.35 bn Q1 Loss Amid 'Worst Crisis in 100 Years'
State oil company Petrobras on Thursday reported a big loss in the first quarter of the year.
Crude Oil
14-05-2020

Russia’s OPEC+ Challenge: Cut Output Without Maiming Industry
Russian oil producers are confronting their greatest challenge in decades as they try to fend off a historic price slump without permanently damaging their fields.
Market Analysis
14-05-2020

Global Oil Demand Could Take Years To Recover
Global oil demand will take at least a year to return to the pre-crisis levels of 100 million barrels per day , Fatih Birol, Executive Director of the International Energy Agency, told Gulf Intelligence in an intervie on Wednesd.
Oil & Gas Trade
14-05-2020

Saudi Arabia Announces Additional Voluntary Reduction of Crude Oil Production
Saudi newspapers highlighted in their editorials today a number of issues at local, regional, and international arenas.
Oil & Gas Trade
14-05-2020

OPEC Says Nigeria's Oil Output Dropped Last Month
The Organisation of Petroleum Exporting Countries, OPEC, has put Nigeria’s oil output, excluding Condensate, at 1.78 million barrels per day, m/bd, in April 2020.
Oil&Gas Drilling
14-05-2020

Australia is in the Process of Developing Dorado Field
Australia's Santos is pushing forward with its Dorado field development. The competitive process for the supply of the FPSO has started and a shortlist of contractors will be invited to tender for the wellhead platform shortly.
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.

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