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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Price
20-03-2020

US Seeks $3 Billion to Boost Oil Producers as Prices Plunge
The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping up U.S. oil producers after crude prices crashed globally.
Oil Price
19-03-2020

Oil Price Won’t Impact Renewable Strategies Says IRENA Director-General
The turmoil in the oil market is unlikely to have a major impact on renewable energy plans and investment.
Oil & Gas Trade
19-03-2020

PetroVietnam Says Considers Stockpiling Oil Amid Low Prices
Vietnam Oil and Gas Group, known as PetroVietnam, said on Wednesday it was considering stockpiling crude oil amid low prices while exploring measures to cope with the impact of the coronavirus outbreak.
Oil Price
19-03-2020

Russia Sees Oil & Gas Income Fall By Almost $40 Billion
Russia’s revenues from oil and gas will be US$39.5 billion (3 trillion rubles) lower than planned, due to the tumbling oil prices, Russian Finance Minister Anton Siluanov said on Wednesday, adding that Russia’s budget will be in deficit this year.
Shale Gas
18-03-2020

Few U.S. Shale Firms can Withstand Prolonged Oil Price War
For the last five years, U.S. shale oil producers have been battling suppliers for lower costs and running equipment and crews hard to drive drilling costs down by about $20 a barrel.
Oil Price
18-03-2020

Exxon To Slash Spending As Oil Price Collapse Continues
Exxon has become the latest U.S. oil company to announce plans for spending cuts amid the coronavirus outbreak that caused a price slide significantly aggravated by Saudi Arabia’s decision to start raising oil production.
Market Analysis
18-03-2020

Is The Oil Price Crash Good For Renewable Energy?
With Saudi Arabia and Russia pumping flooding the market with oil as coronavirus threatens demand, oil prices have crashed below the $30 mark. It is a price crash that could have profound consequences for the global transition to cleaner energy.
Oil&Gas Drilling
18-03-2020

Total Makes New Gas & Condensates Discovery in the North Sea
Total, Operator, and its partners have made an encouraging discovery with the Isabella 30/12d-11 well on the license P1820, located in the Central North Sea offshore U.K., about 40 kilometers south of the Elgin-Franklin Field and 170 kilometers east of Ab
Crude
17-03-2020

U.S. Could start Buying Crude for Strategic Petroleum Reserve in two Weeks
The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several months, an Energy Department source said on Monday.
Oil&Gas Drilling
17-03-2020

CNOOC Makes Large Oil Discovery in Bohai Bay
Chinese oil and gas company CNOOC Limited has made a large-sized discovery Kenli 6-1 in Bohai Bay, which is expected to be the first large-sized oil field in Laibei lower uplift.
Oil & Gas Trade
17-03-2020

China's Major Oilfields Maintain Pace Amid Oil Crash
Crude oil prices dropped below break-even operating expenses for Chinese oil companies, but major oil fields have maintained stable production. Faced with pressure from low oil prices.
Oil&Gas Drilling
17-03-2020

Russia Makes Move On Antarctica’s 513 Billion Barrels Of Oil
Rosgeologia’s seismic surveys and other related work since the 70s to now indicate that there is at least 513 billion barrels of oil and gas equivalent in Antarctica, and Moscow has now set its sights on the world’s most underexplored continent
Oil & Gas Trade
16-03-2020

Venezuela Looks To Play Mediator Between OPEC And Russia
Venezuela is in discussions with OPEC and Russia about the current oil price collapse, Nicolas Maduro said on Thursday at a press conference shown on Twitter, according to Russian news agency TASS.
Oil Price
15-03-2020

Saudis to Sell Oil at $25 in Market Share Grab from Russia
Saudi Arabia is preparing to flood markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, as its price war with Moscow heats up, sources told Reuters news agency on Friday.
Oil & Gas Trade
14-03-2020

Worldwide Oil Price Drop to Curb Turkey's Gas Import Costs by 30%
The drop in oil prices could lead to a 30% decrease in Turkey's long-term natural gas contracts with Russia, Iran and Azerbaijan, experts predict.
Oil & Gas Trade
14-03-2020

The World’s Biggest Oil Trader Negotiates Venezuela Oil Purchase
The largest independent oil trader in the world, Vitol Group, is discussing the purchase of Venezuelan crude oil from a Mexican firm that had received the crude in exchange for aid, Bloomberg reported on Friday, citing emails and documents that it has rev
Crude
14-03-2020

Saudis Sell Oil at $25 in Market Share Grab from Russia
Saudi Arabia is preparing to flood markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, as its price war with Moscow heats up, sources told Reuters news agency on Friday.
Oil & Gas Trade
13-03-2020

Oil Crisis Deepens in Libya as Losses Exceed $3 billion
The oil crisis in Libya is deepening as a blockade of the country’s vital oil fields generated losses of more than $3 billion, the national oil corporation announced late Thursday.
Oil & Gas Trade
13-03-2020

COVID-19 Impact on Chinese LNG Imports Dwindles
China's liquefied natural gas (LNG) imports during March have reached the same levels as last year's figures. Recent data has revealed the coronavirus impact is dwindling.
Oil Price
13-03-2020

Oil Price War Expands as United Arab Emirates Joins Saudi Ally
The United Arab Emirates has joined ally Saudi Arabia in opening the oil floodgates, broadening the front against Russia in a price war.
Oil & Gas Trade
13-03-2020

Saudi Arabia Unveils Plans to Maximize Oil Output, Escalating a Price War with Russia
OPEC kingpin Saudi Arabia unveiled plans Wednesday to dramatically ramp up oil production, raising the stakes of an all-out price war with non-OPEC leader Russia.
Oil Field
12-03-2020

Turkey Proposed Joint Management of Oil Fields in Syria With Russia
Turkey's President Tayyip Erdogan said he asked his Russian counterpart Vladimir Putin to jointly manage oil fields in eastern Syria's Deir al-Zor region, in place of the Kurdish-led forces which control them now.
Oil & Gas Trade
12-03-2020

Oil Price crash: 3 Things You need to Know Today
On Monday 9th March 2020, the oil price saw its biggest fall in 30 years. Here’s our analysts’ rapid response to the oil price crash. Look out for more detailed analysis in the days and weeks to come.
Oil Price
12-03-2020

Lower Oil Prices to Provide Tailwinds to Indian Economy
The present run of lower oil prices will bring significant benefits for the Indian economy as reduced import bill and lower current account deficit and inflation could have a positive impact on GDP growth, Kotak Institutional Equities Securities said in i
Oil & Gas Trade
11-03-2020

China to Bump up Strategic Oil Reserves After Price Crash
Citing people with knowledge of the matter that China is considering the possibility of ramping up the country's strategic oil reserves by buying crude now, especially after the recent price crash.

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