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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude
11-02-2020

OPEC+ Panel Calls for More Oil Cuts on Coronavirus Impact
An OPEC, non-OPEC technical panel has recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of the coronavirus on oil demand, Algeria’s oil minister said in a statement.
LNG
11-02-2020

Qatargas Signs LNG SPA with Kuwait
Qatargas has announced the signing of a new, long term LNG sale and purchase agreement (SPA) with Shell to deliver 1 million tpy of LNG to the State of Kuwait, commencing this year.
Oil&Gas Drilling
10-02-2020

Frontera Announces Discovery in Colombia
Frontera Energy Corporation provided an exploration update in relation to prospects in Colombia in the Lower Magdalena Valley, including its exploration joint venture with Parex Resources Inc. involving the VIM-1 block.
Oil & Gas Trade
09-02-2020

Gas Forum a Diplomatic Opportunity for Israel
A new international organization was born in the Mediterranean on January 15. In parallel to the joint statement by the Israeli and Egyptian energy ministers on the start of Israeli gas exports to Egypt, representatives from Israel, Egypt, the Palestinian
Oil & Gas Trade
09-02-2020

Indonesia to Stop Gas Exports to Singapore in 2023
The Energy and Mineral Resources Ministry has decided to stop gas shipments to Singapore in the next three years to cater to domestic demand.
Oil & Gas Trade
08-02-2020

Algeria Seeks to Resume its Dominance in the Gas Market
While most of Europe fixated on the result of the UK General Election on 12 December 2019, Algerians also went to the polls in an equally hard-fought election resulting in President Abdelmadjid Tebboune coming to power with over 58% of the popular vote.
LNG
08-02-2020

Exxon and Papua New Guinea should Return to LNG Negotiating Table
Exxon Mobil Corp and the Papua New Guinea government must return to the negotiating table so that a $13 billion expansion of gas production can proceed, the head of French oil major Total, a partner in the plan, said.
Oil & Gas Trade
08-02-2020

U.S. Weighs Sanctions on Rosneft but is Wary of Oil Market Chaos
Officials at the Treasury Department worry that sanctions on Rosneft may drive up prices for oil, the people said.
Crude
08-02-2020

Oil Falls 1% as Russia Needs Time to Mull more Opec+ Supply Cuts
Oil prices fell 1 per cent on Friday as Russia said it needed more time before committing to output cuts sought by other large producers while the coronavirus outbreak fanned worries about global crude demand.
Crude
07-02-2020

Oil Climbs After Russia Backs Possible Output Cuts to Counter Coronavirus Impact
Oil prices rose on Friday after Russia said it backs a recommendation for the OPEC and its producer allies to deepen output cuts amid contracting demand for crude as China battles the coronavirus epidemic that has hit global markets.
Oil & Gas Trade
07-02-2020

US DoE Aims to Double Oil and Gas Production Rates
Fossil energy secretary puts his faith in technological development to boost output and CCUS to ultimately reduce emissions.
Oil & Gas Trade
07-02-2020

ExxonMobil Exports Second Crude Cargo from Guyana
Guyana’s second crude oil shipment left ExxonMobil’s Liza Destiny platform Wednesday and is heading to Panama.
Oil & Gas Trade
06-02-2020

Sinopec Provides Free Natural Gas for Makeshift Hospital in Wuhan
China Petrochemical Corporation (Sinopec), China's largest oil refiner, started to provide free natural gas Tuesday for Leishenshan hospital, one of the makeshift hospitals for novel coronavirus patients in Wuhan.
Oil Price
06-02-2020

Oil Prices Jump 2% as Virus Vaccine Reports Spur Hope
Also supporting oil was news that the Organization of the Petroleum Exporting Countries (OPEC) and its producer allies were considering further output cuts to counter a potential squeeze on global oil demand.
Crude
06-02-2020

Rosneft Inks Deal with India’s Top Refiner on up to 2 MILLION Tons of Crude Supplies
The signing took place during Rosneft CEO Igor Sechin’s visit to New Delhi.
Oil & Gas Trade
06-02-2020

US says Cyprus has Key Role in East Med Energy
Washington believes Cyprus has a key role to play in East Med energy supply but warned all sides not to create further instability in the region as tensions run high over Turkey’s illegal drilling activity.
Oil & Gas Trade
05-02-2020

Petrobras Selling Offshore Field and Blocks in Brazil
Petrobras said on Monday that these transaction were in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.
Market Analysis
04-02-2020

UK Regulator Ofgem Launches Decarbonisation Plan
The UK Government’s Office of Gas and Electricity Markets (Ofgem) has set out its plan to bring the country’s emissions to net zero.
Oil&Gas Drilling
04-02-2020

BP Produces First Oil from Alligin Field Off UK
Oil major BP has announced early production from the Alligin field located in the west of Shetland region, offshore the UK.
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.

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