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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
13-04-2020

Mexico to Cut Oil Output by 100,000 Bpd from May: Officials
Mexico will reduce its oil output by 100,000 barrels per day (bpd) from May after top oil producers collectively agreed to cut production by 9.7 million barrels per day at OPEC+ talks, Mexican officials said on Sunday.
Oil&Gas Drilling
12-04-2020

LUKOIL Moves to Next Stage of North Caspian Field Development
Russian oil major LUKOIL said on April 10 the company has moved on to the next stage of facilities construction for the Valery Grayfer field being the launch of the jacket of the living quarters platform from the yard to the Caspian Sea.
Oil Price
12-04-2020

G-20, OPEC Working to Rebalance Oil Market
Energy Ministers of G-20 have arrived at a decision to rebalance global oil markets hit hard by the coronavirus pandemic.
Oil Price
12-04-2020

India Pitches for Stable Oil Market, Says it Will Remain Growth Engine of World
Amid high volatility in international markets, India, world's third largest oil consumer, on Friday pitched for a stable oil market that provides reasonable price for producers and affordable rate for consumers.
Oil & Gas Trade
12-04-2020

Here Is The "Secret Weapon" That Allowed Tiny Oil Producer Mexico To Defy Giant Saudi Arabia
Mexico's annual spending on its hedge with Wall Street banks is shown in the chart below.
Oil Shale
12-04-2020

Coronacrisis Is Killing Argentina’s Shale Oil Boom
Argentina’s Vaca Muerta shale is on life support just weeks after the meltdown in global crude oil prices.
Oil & Gas Trade
11-04-2020

Trump Confirms U.S. Will Help Mexico Out With Production Cuts
U.S. President Donald Trump on Friday confirmed that the United States would “help Mexico along” in achieving the production requests that OPEC+ has asked it to make.
Oil Price
11-04-2020

Trump Threatens “Very Substantial” Tariffs On Oil Imports
The crash was the product of the culmination of a series of unfortunate events, beginning with the spread of COVD-19, which all but shut down the Chinese economy.
Crude Oil
11-04-2020

Mexican Standoff Imperils Proposed 10M-barrel OPEC+ Oil Cut
OPEC said the deal also calls for a 6 million barrel per day cut for 16 months beginning in 2021.
Crude Oil
10-04-2020

Oil Refiners May Have to Shut a Few Units
State oil companies have told the government they will have to shut down a few refineries if the nationwide lockdown is extended beyond April 14, people familiar with the matter said.
Oil Price
10-04-2020

Oil Could Fall Back To $20
Oil demand is set to plunge by as much as 27 million barrels per day (mb/d) in April, a decline larger than anything that has occurred in the history of oil.
Crude Oil
10-04-2020

Mexico Rejects Global Plan To Cut Oil Production
The deadly price war and coronavirus cocktail that threw most of the global industry into a panic seems to have missed one of the large national players: Mexico’s Pemex.
Crude Oil
10-04-2020

Global Oil Producers Agree On Joint 10 Million Bpd Output Cut
OPEC has succeeded. On Thursday, the OPEC++ group agreed, in principle, to cut 10 million bpd in oil production, according to media. But will it be enough? Today’s oil prices suggest not.
LNG
09-04-2020

BP Issues Force Majeure to Golar Over Tortue Ahmeyim LNG Project
BP is seeking to delay by a year the reception of a floating liquefied natural gas facility at the Tortue Ahmeyim project in Africa.
Crude Oil
09-04-2020

Russia: U.S. Shale Decline Can’t Count As ‘Output Cut’
Production declines across the U.S. shale patch as companies reduce drilling and spending cannot be viewed as a voluntary U.S. cut aimed at supporting oil prices, Vladimir Putin’s Press Secretary Dmitry Peskov said on Wednesday.
Oil Shale
09-04-2020

Is U.S. Energy Dominance Coming To An End?
America’s era of “energy dominance” was brief.
Oil & Gas Trade
08-04-2020

Iran doesn't Agree with Holding OPEC+ Meet Without Clear Outcome
Iran’s Oil Minister, Bijan Zanganeh, said his country does not agree with holding any OPEC+ meeting in the absence of a clear proposal and expected outcome from such talks for the oil market, according to a letter sent to OPEC.
Crude Oil
08-04-2020

L&T Wins 'Large' Contract from Indian Oil for Capacity Expansion at Barauni Refinery
It has won a "big" contract from the Indian Oil Corporation to expand capacity at the IOC's Barauni refinery in bihar.
Oil Price
08-04-2020

Oil Rises As Markets Eye OPEC, Russia Meeting on Output Cuts
Oil prices rebounded Wednesday after two straight days of declines.
Oil&Gas Drilling
08-04-2020

Government Admits BP Drilling Permit Process was Unlawful
The government admits it acted unlawfully in granting BP’s permit to drill for new oil in the North Sea, a Greenpeace legal challenge reveals, after officials rubber-stamped BP’s drilling application with no public scrutiny.
Oil Shale
08-04-2020

The Dream Of U.S. Energy Independence Is Dying Along With The Shale Revolution
It was a revolution; a game-changer.
Oil Pipeline
08-04-2020

Algeria Completes the Construction of GR7 Gas Pipeline Project
Algeria’s state-owned Sonatrach oil and gas company has successfully completed the construction of the GR7 gas pipeline project.
Crude Oil
08-04-2020

Trump: Free Markets Will Determine U.S. Oil Production
U.S. President Trump believes local oil production output cuts will happen automatically thanks to the nature of the free market, he told reporters this week.
Oil Price
07-04-2020

African Energy Chamber Urges OPEC and OPEC+ to End Oil Price War
OPEC and OPEC+ are set to meet in Vienna on Thursday, April 9 to try to reach a deal on ending the current oil prices war.
Oil Price
07-04-2020

Oil Could Dive Below $10 if OPEC & Allies Fail to Agree Production Cut Deal
According to the agency's report, a fall in demand and an increase in supply could result in more than 20 million barrels per day of excess oil.

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