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Oil & Gas
Kazakhstan
Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level
Oil Price
01-05-2020
OPEC+ Oil Production Hits 13-Month High As Output Cuts Start
After the collapse of the previous OPEC+ deal in early March, OPEC opened the taps in April, pumping at its highest level in 13 months.
Oil Price
30-04-2020
OPEC Daily Basket Price Stands at $14.36 a Barrel Wednesday
The price of OPEC basket of thirteen crudes stood at $14.36 a barrel on Wednesday, 29th April, 2020, compared with $12.41 the previous day, according to OPEC Secretariat calculations.
Oil & Gas Trade
30-04-2020
Azerbaijan's SOCAR Says BP to Cut Oil Output by 76,000 Bpd in May-June
Azerbaijan’s state energy company SOCAR said on Thursday that BP, which leads a number of big energy projects in the former Soviet country, will cut its oil production by 76,000 barrels per day (bpd) in May-June.
Oil Price
30-04-2020
Australia's Woodside Sees Low Oil Prices into 2021
Australian independent Woodside Petroleum expects low oil prices to persist for the rest of 2020 and into next year.
Oil&Gas Drilling
30-04-2020
Fenja, Neptune's First Operated Development Project on the Norwegian Shelf
On April 28, Neptune Energy announced the drilling campaign on the Fenja field is now underway.
Oil & Gas Trade
30-04-2020
Belarus Buys First Oil from Saudi Arabia: Refiner Belneftekhim
Belarus, long dependent on Russian oil, has bought its first barrel of crude from Saudi Arabia.
Crude Oil
30-04-2020
Oil Major Chevron Could Be Forced To Cut Oil Production In Kazakhstan
Kazakhstan is in talks with the companies operating its two sizeable offshore oil projects to reduce total output by 22 percent in compliance with the latest OPEC+ production cut agreement.
Crude Oil
30-04-2020
Russia Calls For Market Share Target For OPEC+
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are.
Crude Oil
30-04-2020
Russian Oil Production Set For First Annual Drop Since 2008
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news agency Interfax in an interview published on Wednesday.
Oil&Gas Drilling
30-04-2020
Russia’s Grand Plan For Arctic Oil Is Under Threat
Russia's oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the industry from the iconic fields on the shores of the Caspian in present-day Baku, Azerbaijan.
Oil & Gas Trade
29-04-2020
U.S. Oil Futures Plunge Nearly 25 Pct Amid Fears of Filled Storage
Oil prices fell significantly on Monday with the U.S. benchmark down nearly 25 percent amid fears over a growing scarcity of oil storage space.
Crude Oil
29-04-2020
U.S. Oil Companies Begin Sending Crude To Strategic Petroleum Reserve
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official.
Oil Price
29-04-2020
Canada’s Oil Firms Set To Curtail Output By At Least 1 Million Bpd
Companies in Canada have already reacted to the oil price plunge, but analysts and investors will be looking for further clues in the earnings reports about how they plan to go through the second major oil crisis in just five years.
LNG
29-04-2020
The LNG Market Is“Imploding”
The global market for natural gas is also cratering.
Oil & Gas Trade
29-04-2020
China Set to Issue First-Ever Export QQuotas for VLSFO of 10 mln T for 2020
China is set to release its first-ever quotas to export very low sulphur fuel oil with total volumes of 10 million tonnes for this year.
Oil & Gas Trade
29-04-2020
India to Launch Natural Gas Trading on Electronic Platform Next Month
The Indian natural gas exchange will start trading gas on its platform next month.
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.
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Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level
