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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
04-02-2020

Coronavirus could Push Global Oil Market into Surplus
Almaty. February 4. KazTAG - The coronavirus outbreak could curb oil demand growth if it continues to spread, leading to an extended production surplus as production grows in Brazil, Norway and the US, Fitch Ratings says.
Oil & Gas Trade
04-02-2020

Oil Bankruptcies Are Reaching Worrying Levels
Law firm Haynes and Boone recently released its updated Energy Bankruptcy Reports. These reports cover North American oil and gas producers, oilfield services and midstream bankruptcies from the beginning of 2015 through 2019.
Oil & Gas Trade
04-02-2020

OPEC+ Considers 500,000 Bpd Cut In Emergency Meeting
The OPEC+ group of producers are said to be considering deepening the cuts by another 500,000 bpd, due to depressed oil demand amid the virus outbreak, OPEC and industry sources told Reuters on Monday.
LNG
04-02-2020

Papua LNG to Advance Despite PNG Halting Talks
Papua LNG project is expected to advance with certain modifications following the halt in negotiations between the JV partners and the PNG government over P’nyang gas field agreement.
Oil & Gas Trade
04-02-2020

PNG Government Walks Away from Gas Talks with Exxon
According to Reuters, the government of Papua New Guinea (PNG) has ended talks with Exxon Mobil Corp. regarding a key gas project, putting plans to double gas exports from PNG in doubt.
Oil & Gas Trade
03-02-2020

OPEC and Ally Russia to Discuss Oil Price Fall After Coronavirus Epidemic
OPEC members and their ally Russia will convene a technical meeting this week to analyze oil price falls since the outbreak of a coronavirus epidemic, a source close to the cartel said on Sunday.
Oil & Gas Trade
03-02-2020

China’s Oil Demand Drops 20%
Chinese oil demand has dropped by about three million barrels a day, or 20 per cent of total consumption, as the coronavirus squeezes the economy.
Oil & Gas Trade
03-02-2020

Kuwait and Saudi Arabia Start Work to Resume Oil Output from Khafji – Sources
Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with initial output expected around the end of February, two industry sources said.
LNG
02-02-2020

Nigeria Inks Major LNG Deals with Global Oil Giants
Nigeria has signed a major gas expansion deal, a much-needed collaboration with oil majors that Nigeria LNG said would boost its liquefied natural gas output by more than 30 per cent.
Oil & Gas Trade
02-02-2020

South Sudan Welcomes Russian Firms To Its Oil, Gas Sector
South Sudan believes that Russian companies can help it to develop its oil, natural gas, and refining industries, the foreign minister of the small African oil producer has told Sputnik.
Oil & Gas Trade
01-02-2020

U.S. Lifts Iran Sanctions on One Unit of Chinese Shipping Giant COSCO
The U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.
Oil Price
31-01-2020

U.S. To Become Net Oil Exporter This Year: EIA
The United States will become a net oil and oil product exporter this year thanks to continued growth in production combined with slacker domestic demand, the Energy Information Administration said in its 2020 Annual Energy Outlook.
Market Analysis
31-01-2020

Shell's Oil and Gas Reserve Life Drops for Sixth Year in a Row
The number of years of production left in Royal Dutch Shell's oil and gas reserves fell for the sixth year in a row in 2019 to below eight.
Oil&Gas Drilling
29-01-2020

Exxon Signs Deals With Egypt For Oil, Gas Exploration in East Mediterranean
Exxon Mobil and Egypt have signed two oil and gas exploration deals in the Eastern Mediterranean, the Egyptian Ministry of Petroleum said on Tuesday, weeks after Exxon said it had secured exploration acreage offshore Egypt.
Oil & Gas Trade
29-01-2020

Libya’s Oil Chief Denounces Port Blockades As Crude Output Plummets
Blockades of Libya’s export terminals risk cutting off virtually all of the OPEC member’s 1.2 million barrels per day in crude oil exports, warned the chairman of Libya’s National Oil Company (NOC), Mustafa Sanalla.
Oil and Gas Technology
28-01-2020

Portuguese Tech Institute to Produce Advanced Biofuels From Tree-Pruning-waste
A project to use the waste from pruning vines and fruit trees to produce advanced biofuel is being developed at the BLC3 Campus of Technology and Innovation in Oliveira do Hospital, the campus president said.
Oil & Gas Trade
28-01-2020

Libya Says Oil Output May Almost Fully Halt Within Days
Libya’s oil output could be days from coming to a complete halt as conflict in the OPEC nation puts the country’s most vital industry at risk, the nation’s top oil official said.
26-01-2020

What does India’s Energy Outlook Look Like for 2020?
India's total renewable energy capacity was 131 gigawatts (GW) in 2019, but it has set a target of reaching 275GW by 2027.
Oil & Gas Trade
26-01-2020

Oil Falls Below $61, Heading for Weekly Loss on China Virus Concerns
Oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread.
Oil&Gas Drilling
25-01-2020

Libya Says Oil Shutdown Caused Over $255 Million in Losses
The closure of Libya’s major oil fields and production facilities has resulted in losses of more than $255 million in the six-day period ending Jan. 23, the country’s national oil company said Saturday.
Oil & Gas Trade
23-01-2020

Crude Oil Jumps on Libya Export Blockage, Iraq Disruptions
Oil gained in Asian trading Monday following supply disruptions and political instability in key producers Libya and Iraq.
Oil&Gas Drilling
23-01-2020

Libyan Oil Production Falls as US Issues Warning
FEARS of further damaging military intervention in Libya have been raised after the US demanded the resumption of oil production in the country.
Oil & Gas Trade
21-01-2020

Eastern Med Nations Square Off in Blocs for Natural Gas Supply
Turmoil over energy issues in the Eastern Mediterranean is growing as countries form blocs to supply natural gas to the markets of Europe.
Oil & Gas Trade
21-01-2020

Guyana Officially Becomes Oil Exporter
The world’s newest oil frontier, Guyana, has officially shipped its very first batch of crude oil on Monday, according to TankerTrackers.com—a major oil-first for the South American country.
Oil&Gas Drilling
21-01-2020

China Finds Oil In Asia’s Deepest Onshore Well
China National Petroleum Corporation (CNPC) has found crude oil and natural gas in the deepest well drilled in Asia’s onshore, striking hydrocarbons in a pre-salt layer for the first time in China.

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