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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
06-04-2020

OPEC+ Debates Biggest-Ever Oil cut, Awaits U.S. Efforts
Russian Energy Minister Alexander Novak told Russian state media that he understands the United States has legal restrictions on output cuts, but it should still be flexible.
Oil Price
06-04-2020

The OPEC+ Meeting Could Send Oil Prices Crashing Below $10
The current optimism of analysts and the media that an end to the ongoing OPEC+ oil price spat is near is entirely unjustified.
Market Analysis
05-04-2020

Oil Industry Joins The Fight Against Coronavirus
The supermajor is also offering free food and drink to healthcare professionals at 15,000 retail outlets globally as well as to truck drivers and delivery personnel "who are vital to maintaining supplies."
Oil Price
05-04-2020

Russian Oil Firms Ready To Agree To A Production Cut Deal
With oil prices below Russia’s budget breakeven and with over 20 percent of global oil demand wiped out by the coronavirus pandemic, Russian oil firms could be ready to participate in a global production cut deal with Saudi Arabia, the United States, and
Oil & Gas Trade
05-04-2020

Trump Says 'Doesn't Care About OPEC', Will Put Tariffs on Oil Imports If He Has to
President Donald Trump said on Saturday that he "does not care about OPEC" and that he will put tariffs on oil imports to the United States if he has to in order to protect the oil industry at home.
Oil Shale
05-04-2020

Saudi Arabia Denies Trying to kill US Shale, Shifts Blame for Oil Supply Glut on Russia
Rejecting the accusation as “fully devoid of truth,” Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud insisted that the Kingdom is and has always been “seeking to reach more cuts and achieve oil market equilibrium for the interest of shale oil prod
Oil Price
04-04-2020

Oil Price Barrels Ahead As OPEC Flags Meeting
The price of crude oil surged again Friday after OPEC said it would talk to non-members.
Crude Oil
04-04-2020

Fuel Consumption Sees Drastic Drop
Despite petrol bunks having remained open during the lockdown period, the consumption of diesel and petrol has come down drastically.
Oil Price
03-04-2020

Petrol, Diesel Prices Jump by Re 1 in 3 States on Higher Tax
Fuel prices in west Bengal, maharashtra and karnataka rose by a litre.
Oil Price
03-04-2020

What Really Caused Oil To Rally By 25%?
Oil prices spiked 25 percent on Thursday after President Trump tweeted that Saudi Arabia and Russia would cut production by 10 to 15 million barrels per day (mb/d), but there are a variety of reasons why a cut of this size faces steep odds.
Oil & Gas Trade
03-04-2020

Tunisia and Algeria to Sign a 10 Year Gas Supply Deal
Tunisia and Algeria are to sign a 10 year gas supply deal according to the governments of Tunisia and Algeria represented by their respective Energy and Mines Ministers following the expiry of the old contract last December.
Oil Price
03-04-2020

Oil Falls on Scepticism over Trump's Saudi-Russia Output Deal
Oil prices fell on Friday, coming off their biggest one-day gains in the previous session, after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production.
Oil & Gas Trade
03-04-2020

Saudi Arabia and Russia Signal Readiness to Cooperate on Oil
Saudi Arabia and Russia signalled on Thursday they were ready to cooperate to help stabilise the oil market after calls with U.S. President Donald Trump to discuss the slump in prices triggered by the end of a deal to curb output and a collapse in demand.
Market Analysis
03-04-2020

IEA: This Oil Shock Is The Worst In History
The world has seen some oil shocks before, but “none has hit the industry with quite the ferocity we are witnessing today,” the IEA said on Wednesday in an article on its website.
Oil Price
02-04-2020

Coronavirus: Oil Prices Rise on Hopes of a Price War Truce
Global oil prices have risen after Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their price war.
Crude Oil
02-04-2020

BP Reduces Investment Plan by 25% in 2020 to US$12bn
BP has cut its 2020 spending plan by a quarter, from US$15bn to US$12bn, including a US$1bn reduction investment in short-cycle onshore activity.
Oil & Gas Trade
02-04-2020

Showing Honest Solidarity and Working Remotely ElektroMotion Series Being Supportive Technology
Recently industrial activity has been substantially reduced and labor forces worldwide have been affected heavily.
Oil Shale
02-04-2020

U.S. Shale Company Whiting Becomes First Major Bankruptcy of Oil-Price Crash
Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil prices that are expected to bite into record U.S. output.
Oil Price
02-04-2020

Iraq's Oil Income Falls by 40 Per Cent in March
Iraqs crude oil income fell by 40 per cent last month.
Crude Oil
02-04-2020

Trump Says world’s Biggest Oil Producers to Meet on Market Crash
President Donald Trump said the US would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices.
Oil & Gas Trade
02-04-2020

India's Top Refiner Declares Force Majeure On Oil Imports From Saudi Arabia
Indian Oil Corp (IOC), the country’s biggest refiner and fuel retailer, has declared a force majeure on oil imports from some of its top oil suppliers, including Saudi Arabia, which has been promising a supply surge as of today in the price war it leads w
Crude Oil
01-04-2020

How Russia Is Shedding Its Venezuelan Assets
Russia has set up a wholly state-owned oil company named Roszarubezhneft after Rosneft announced it would exit Venezuela and ditch its Venezuelan assets to a new--as of yesterday--and unnamed company, Reuters reports.
Oil Shale
01-04-2020

The U.S. Can’t Afford To Let Shale Fail
They have seen their market shares erode as the shale boom made the U.S. the world’s largest producer of crude oil.
Oil Price
01-04-2020

The U.S. is About to Lose its Place as the World's Largest Oil Producer
The United States may lose its top spot among oil producers globally this year, according to economists.
LNG
31-03-2020

Australian States May Have to Import LNG as of 2024
According to the AEMO, southern and southeastern Australian states will have to import LNG by 2024 to avoid gas shortfalls on peak winter days, as the southern gas supply is forecast to fall by more than 35% over the next five years.

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