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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 Price
08-05-2020

Saudi Arabia Raises Oil Prices As Demand Recovers
Saudi Arabia’s oil giant Aramco raised the price for all its crude oil grades to all regions for June in a move that analysts see as the start of demand recovery—and this move sent oil prices jumping early on Thursday after the price announcement.
Oil Price
08-05-2020

Petrobras Halts Sale Of Huge Oilfields After Oil Price Collapse
Amid the low oil prices, Brazil’s state-owned oil firm Petrobras has suspended preparations to sell a minority stake in a cluster of four offshore fields producing 230,000 bpd, Reuters reported on Thursday, quoting three sources familiar with the matter.
Oil Shale
08-05-2020

Top US Shale Producer Sees Oil Price Recovery Continuing
Pioneer natural resources, a U.S. shale oil producer, expects prices to return to at least $45 a barrel this year.
Oil Price
07-05-2020

In a Gloomy Oil Market, India's Pump Prices Echo $100-Plus Crude
Crude oil has plummeted to about $30 a barrel from $115 when Prime Minister Narendra Modi first came to power six years ago.
Crude Oil
07-05-2020

Shell to Shut Philippines Refinery
Shell's Philippine affiliate Pilipinas Shell Petroleum will temporarily shut operations at its 110,000 b/d Tabangao refinery for approximately a month starting in mid-May.
Crude Oil
07-05-2020

Korea's SK Innovation Sees Refining Slump Continuing
SK Innovation, the south Korean oil refiner, sees no sign of recovery.
Crude Oil
07-05-2020

Russia Predicts U.S. Oil Output Will Drop By 2-3 Million Bpd
U.S. oil production could decline this year by 2 million bpd-3 million bpd, due to limited storage capacity and low oil prices, Russia’s Deputy Energy Minister Pavel Sorokin told local media on Wednesday.
Oil & Gas Trade
07-05-2020

Saudi Arabia Succeeds In Seizing Oil Market Share From Key Rivals
Saudi Arabia doubled its crude oil exports to China in April to the highest volumes since at least 2017.
Oil Shale
06-05-2020

Shell Sells Appalachia Shale Gas Assets to National Fuel
The consideration is intended to be paid in cash, but National Fuel has the option to provide up to US$150 million of NFG common stock as consideration.
Oil & Gas Trade
06-05-2020

Why Russia Finally Accepted Deeper Oil Output Cuts
When Russia refused two months ago to join the deeper OPEC oil cuts, it was because Moscow found them unnecessary. Two months later, Russia agreed to cut quite a bit more than it was asked to at the ill-fated March meeting.
Crude Oil
06-05-2020

Equatorial Guinea set to Construct Modular Crude Oil Refinery in Punta Europa
The contract was awarded to Houston based VFuels Oil & Gas Engineering (VFuels),a full service oil and gas engineering, design, and fabrication firm that specializes in modular process equipment.
Oil&Gas Drilling
06-05-2020

Equatorial Guinea Extends Oil and Gas Exploration Licenses by Two Years
The minster continued: “Liquidity is very important right now. The last thing we want is for [companies] to decide that it is not economical to operate in-country.”
Oil & Gas Trade
06-05-2020

Saudi Arabia's Oil Exports to Drop in May as Demand Slides
Saudi oil exports are expected to fall to about 6 million barrels a day in May, the lowest in nearly a decade.
Crude Oil
06-05-2020

Numaligarh Refinery to Import 21TMT of Crude Oil from Petronas Malaysia
NRL will take advantage of the collapse in oil prices to import 21 tonnes of crude from petronas.
Oil Price
06-05-2020

Oil Prices Fall as Rising U.S. Inventories Reassert Supply Concerns
Oil prices fell Wednesday, ending a multi-day rally.
Oil Price
05-05-2020

Russia’s Gazprom Neft Sees Oil Prices Topping $30 This Summer
Oil prices will top $30 a barrel this summer as demand will start to recover slowly, Alexander Dyukov, chief executive at Russian oil producer Gazprom Neft, told a Russian television channel in an interview on Friday.
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

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