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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
26-04-2020

How the U.S. Could Use Taxpayer Dollars to Save Oil and Energy Companies
The U.S. federal government is looking at "a whole bunch of alternatives" to support oil and other energy companies.
Crude Oil
25-04-2020

Russia Cuts European Sea Ports Oil Exports To 20-Year-Low
Exports of Russia’s key export blend Urals are expected to slump to the lowest level since at least the early 2000s, according to data from Refinitiv Eikon.
Crude Oil
25-04-2020

Whether Opec+ Formally Agrees or not, Deeper Oil Cuts Now Look Inevitable
Whether or not Opec+ oil producers formally agree to extra oil output curbs, rapidly filling storage capacity and plummeting demand due to the coronavirus crisis may force them to cut more.
Oil&Gas Drilling
24-04-2020

Putin: OPEC+ Deal Should be Complied with by all Participants
The deal stipulates the oil production cut by 9.7 mln barrels per day in total in May-June 2020, by 7.7 mln barrels per day in July-December 2020 within the alliance framework, and by 5.8 mln barrels daily in January 2021-end of April 2022
Crude Oil
24-04-2020

U.S. Crude Oil Production Decreases Last Week: EIA
U.S. crude oil production decreased during the week ending April 17, the U.S. Energy Information Administration (EIA) said Wednesday.
Oil & Gas Trade
24-04-2020

Trump Pledges to Support Oil, Gas Industries Amid Oil Futures Crash
U.S. President Donald Trump on Tuesday directed his administration to work on a plan to get funding to the oil and gas industries as a steep sell-off in oil futures continued.
Oil Price
24-04-2020

Argentina Plans Higher Local Oil Price to Protect Sector Amid Rout
Argentina is home to the huge Vaca Muerta shale deposit, the size of Belgium. It is thought to hold one of the world's largest reserves of unconventional hydrocarbons.
Crude Oil
24-04-2020

Azerbaijan Imposes Oil Cuts on BP-Led Fields
Azerbaijan's BP-led Azeri-Chirag-Guneshli project will have to cut output sharply from May for the first time ever as the country moves to meet its commitment under a global deal to cut production, four sources told Reuters on Thursday.
Oil Pipeline
24-04-2020

US Delays Oil Pipeline Approvals after Environmental Ruling
The U.S. Army Corps of Engineers has suspended a nationwide program used to approve oil and gas pipelines.
Crude Oil
24-04-2020

In Rare Development, Oil Majors Are Forced To Cut Output Under OPEC Deal
A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its new quota under the OPEC production cut deal, three sources told Reuters on Thursday.
Oil & Gas Trade
24-04-2020

Canada’s Oil Has Nowhere To Go As The US Runs Out Of Storage
Collapsing demand and brimming storage in the United States, Canada’s almost exclusive oil outlet, have resulted in a very usual situation in the Canadian oil industry.
Oil & Gas Trade
23-04-2020

Saudi Arabia may Re-route Tankers if U.S. Imposes Crude Import Ban
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.
Oil & Gas Trade
23-04-2020

Nigeria's Oil, Gas Exports Hit $5.1bn in One Year - NNPC
The Nigerian National Petroleum Corporation (NNPC) has said that the country exported oil and gas worth about $5.18 billion in the last one year, spanning between January 2019 and January 2020.
Market Analysis
23-04-2020

Why The World Is Still Pumping So Much Oil Even As Demand Drops Away
With the global economy in a pandemic-induced coma, the world just doesn't need a lot of oil.
Oil & Gas Trade
23-04-2020

Indian Refineries Slash Middle East Oil Imports As Storage Fills Up
Two oil refiners will be cutting their crude oil imports from Saudi Arabia by between 66 percent and 80 percent for May, as India – population 1.3 billion people – went into a nationwide lockdown at the end of March.
CNPC
23-04-2020

CNPC Starts Building a 5.6 bcm Gas Storage Project in Xinjiang (China)
China National Petroleum Corporation (CNPC) has started to build the Wenjisang gas storage cluster project in Tuha Oilfield in the Xinjiang Uygur Autonomous Region in northwest China.
LNG
23-04-2020

Japan Has Only 2-Week Stockpile of LNG
The outbreak of the coronavirus poses a new risk to Japan, potentially cutting off vital supplies of liquefied natural gas.
Oil&Gas Drilling
23-04-2020

Aker BP Postpones Oil Developments Amid Market Turmoil
The company has suspended all oil and gas development projects that have not yet received board approval because of the coronavirus-related plunge in crude prices.
Oil & Gas Trade
23-04-2020

Shell Delays Decisions on Deepwater Projects Amid Oil Price Rout
Shell has delayed a decision on whether to proceed with two large oil and gas development projects in the gulf of Mexico and the north sea.
Oil Price
22-04-2020

US Oil "Technically Worthless," and Coal Plants Shuttered, as a Tidal Wave of Bankruptcies Looms
May contracts for West Texas Intermediate (WTI) crude oil went as low as -$37.63 on Monday.
Crude Oil
22-04-2020

Trump Says "Looking to" Add 75 mln Barrels of Oil to Strategic Petroleum Reserve
U.S. President Donald Trump said on Monday that the United States is "looking to" add 75 million barrels of oil to its Strategic Petroleum Reserve (SPR) as oil futures tumble into negative territory.
Oil & Gas Trade
22-04-2020

Australia Says First in Line to Buy Crude to Store in US Strategic Reserve
Australia is at the head of the queue to buy oil and store it in the US Strategic Petroleum Reserve.
Oil Price
22-04-2020

How Nigeria Can Leverage on Negative Oil Prices
Governments of oil producers like Nigeria, whose economies were already reeling from the headwinds brought on by COVID-19 must have been wondering what they would have to do to shore up their revenues from alternative sources.
22-04-2020

ExxonMobil Breaks Ground on Multibillion-Dollar Chemical Complex in China
Multinational oil and gas corporation ExxonMobil Wednesday broke ground on its solely-funded chemical complex in Huizhou, southern China's Guangdong Province.
Oil & Gas Technology
22-04-2020

Nigerian Refinery Achieves Digital Transformation in Record Time
Nigeria's dangote group has achieved a digital transformation led by SAP.

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