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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
31-03-2020

Russia's Largest Oil Producer Halts Operations In Venezuela
Russia’s largest oil producer, Rosneft, has announced that it is halting operations in Venezuela and selling its assets there to a company fully owned by the Russian government.
Oil Price
31-03-2020

U.S. Crude Dips Below US$20 as Lockdowns Wipe Out Demand
Oil prices fell sharply on Monday, with U.S. crude briefly dropping below US$20 and Brent hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further.
Oil Price
30-03-2020

Oil Crash Puts Africa's Cash-Strapped Producers in Peril
The collapse in oil prices has left African oil producers facing a loss of revenue at a time when they need it most to fight coronavirus.
Oil Field
30-03-2020

Equinor Says Sverdrup Oilfield to Produce More, Faster than Expected
The Johan Sverdrup field is ramping up production at a faster rate than initially expected.
Crude Oil
30-03-2020

US Suspends Plans to Buy Crude Oil for the Strategic Petroleum Reserve
The US administration has suspended plans to purchase US crude oil for the Strategic Petroleum Reserve (SPR), after failing to secure funding from the Congress, and has withdrawn a tender for the first part of its oil purchase programme.
Oil Pipeline
30-03-2020

Putin Approves a New Gas Pipeline to China via Mongolia
Russian President Vladimir Putin on Friday approved the launch of a feasibility study for the Power of Siberia-2 pipeline.
Oil Price
30-03-2020

Calls Mount for New OPEC+ Deal as Oil Prices and Demand Slide
Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and price collapse caused by the coronavirus pandemic and an emerging price war.
Oil Price
30-03-2020

Russia’s Plan To Bankrupt U.S. Shale Could Send Oil To $60
As soon as U.S. shale leaves the market, prices will rebound and could reach $60 a barrel, Rosneft’s Igor Sechin said recently.
29-03-2020

Saudi Arabia Has Assured India of Uninterrupted LPG Supply: Dharmendra Pradhan
India's oil minister said on Sunday he would continue to supply the country with liquefied petroleum gas.
Oil Price
29-03-2020

After Oil Price Crash, Russia Looks for OPEC Deal
Russian officials were reportedly looking to establish another OPEC+ deal to balance oil markets.
Oil Price
28-03-2020

The Cheapest Way For Trump To Save U.S. Oil
The President of the United States has the power, at his sole discretion without any other authority, to place a fee on imported oil or products.
Oil Price
28-03-2020

Saudi Arabia Says no Talks on New Oil Deal, Moscow Suggests Larger OPEC+
Saudi Arabia said on Friday that it is not in talks with Russia to balance oil markets, despite rising pressure from Washington to stop a price rout, amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.
Oil & Gas Trade
27-03-2020

Australia's Woodside Slashes $2 bln in Spending, Delays Key Gas Projects
Woodside Petroleum has halved its 2020 spending forecast and delayed the start of two of its biggest gas projects.
Oil & Gas Trade
27-03-2020

Demand Destruction Foils Saudi Arabia’s Plan To Flood Europe With Oil
Saudi Arabia has promised a flood of cheap oil to Europe as it aims to hit its former ally Russia in its own backyard, but it looks like demand for the ultra-cheap Saudi crude doesn’t exist after all.
Market Analysis
27-03-2020

Russia Will Ignore Oil Markets In G-20 Video Summit
The oil market will not be a topic of discussion at the G-20 video summit later on Thursday, the Kremlin spokesman Dmitry Peskov told reporters when asked about the agenda of the summit.
Oil and Gas Technology
26-03-2020

First-of-its-kind Power Plant Utilizes Ethane in Combustion Mix
A new Competitive Power Ventures gas-fired power plant in Pennsylvania.
Market Analysis
26-03-2020

Covid-19 Triggers 20% Drop in Oil Demand
The outbreak of covid-19 could have a major impact on global oil demand.
Oil Price
26-03-2020

Can The U.S. Convince Saudi Arabia To End The Oil War?
US Secretary of State Michael Pompeo is applying verbal pressure to Saudi Arabia, encouraging the Middle Eastern country who started the oil price war to “rise to the occasion” and reassure the oil markets, the State Department has said, according to the
Oil Price
26-03-2020

Oil Climbs As U.S. Pushes For An End To The Price War
Oil prices continued to rise for the third day in a row, recovering earlier losses as U.S. lawmakers pressure Saudi Arabia to end the oil war.
Crude Oil
26-03-2020

World’s Largest Oil Trader Says Demand Could Plummet By 20 Million Bpd
A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomberg in an interview.
Oil & Gas Trade
26-03-2020

Russia’s Unexpected Advantage in The Oil Price War
While the ruble is now at its lowest level against the dollar in four years, the cheaper ruble has a silver lining for Russia’s oil producers in the oil price war for market share with Saudi Arabia.
Crude Oil
26-03-2020

Global Oil Demand Forecast to Fall by 4.9 Million Barrels Per Day in 2020: Rystad
Global oil demand could fall by as much as 4.9 million barrels per day (bpd), or by about 4.9 per cent, in 2020 due to the coronavirus outbreak, Norway's biggest independent energy consultancy Rystad Energy said on Wednesday.
Oil Price
25-03-2020

UK Supermarkets Cut Fuel Prices As Oil Continues to Plunge
The RAC said it is the largest single cut it has seen and predicted it will result in prices sinking to a four-year low.
Oil Shale
25-03-2020

What Happens if U.S. Shale Goes Bust?
This month has seen a spectacular oil price crash the likes of which we haven't seen in decades. The last time we had since a single day oil price drop as drastic as Monday, March 9 was way back in 1991.
Crude Oil
25-03-2020

Thai Oil Refiners Cut Output as Fuel Demand Falls: Sources
Thailand is one of the largest oil refining centers in southeast Asia.

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