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Oil & Gas
Kazakhstan
Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level
Crude Oil
27-04-2020
Algeria Says Proven Oil Rserves at 10 Billion Barrels
OPEC member Algeria's proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels, Energy Minister Mohamed Arkab said on Sunday.
Oil Price
27-04-2020
US Oil Futures Dip over 7 Pct Amid Oversupply Concerns
Oil prices dropped noticeably Sunday night with the US benchmark down more than 7 percent amid persistent oversupply concerns.
Oil & Gas Trade
27-04-2020
Gas Sales Keep Wentworth on Plan for Dividend
Gas demand for Tanzania's wentworth resources will remain flat this year.
Oil&Gas Drilling
27-04-2020
Diamond Offshore Files for Chapter 11 Bankruptcy Amid Historic Oil Price Crash
Diamond Offshore Drilling Inc., a rig contractor owned by Loews Corp., filed for bankruptcy.
Oil & Gas Trade
27-04-2020
Refined Oil Product Freight Rates Nearly Double in a Week
Refined oil tanker rates surged this week to their highest level in 11 years.
Oil & Gas Trade
27-04-2020
Russia Halves Western Sea Oil Exports in May after OPEC+ Deal
Russia plans to halve oil exports from its Baltic and black sea ports in May.
Market Analysis
27-04-2020
When Oil Became Waste: A Week of Turmoil for Crude, and More Pain to Come
In its nearly 40-year history, U.S. oil futures have never fallen below $10 a barrel.
Oil Shale
26-04-2020
The Shale Suffering Has Only Just Begun
A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to contain the spreading of the coronavirus.
Oil & Gas Trade
26-04-2020
Japan Urges G20 Energy Summit to Address Importance of Stable Oil Prices
Japan hopes a Group of 20 energy ministers summit later on Friday will address the importance of stable oil prices and supply after OPEC and its allies agreed to make record production cuts, the country’s industry minister said.
Oil & Gas Trade
26-04-2020
Covid-19: Saving Nigeria from the Peril of Oil Economy
It is no gainsaying the fact that the global pandemic Coronavirus has made the world economy to shrink. With a sudden shutdown of most countries to contain the spread of the virus, economic activities have taken a serious nosedive in many nations.
Crude Oil
26-04-2020
Venezuela's Oil Output Could Fall Again Soon
On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela.
Oil Price
26-04-2020
5 Reasons Why Mexico's Oil Industry Is Destined For Disaster
Mexico has somewhat inadvertently found itself at the heart of the oil industry’s most burning issues of 2020.
LNG
26-04-2020
Iran Reaches Production Milestone At World's Largest Gas Field
Iran is now working quietly towards oil exports and petrochemicals.
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.
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