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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil & Gas Trade
20-12-2019

Gas to Become Energy Transition’s 'Second Pillar'
The use of gas from all sources will become more important as Germany seeks to decarbonise its economy and phase out nuclear power, the new head of Germany's largest energy industry lobby group, BDEW, has said.
20-12-2019

U.S. Renews Waiver on COSCO's Dalian Tanker Unit Hit by Iran Sanctions
The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company on which it had imposed sanctions in September for allegedly transporting Iranian oil.
Oil&Gas Drilling
20-12-2019

Canada approves CNOOC’s offshore drilling project
The Chinese oil company (CNOOC) has received permission to drill in Canada’s Flemish Pass, 400 kilometers east of St. John’s, Newfoundland and Labrador.
Oil & Gas Trade
20-12-2019

India, Bangladesh promote cross-border energy corridor
The Rs. 346 crore, 130-kilometre India-Bangladesh Friendship Pipeline Project is a landmark project being undertaken under the grant assistance from India to Bangladesh.
Oil and Gas Technology
19-12-2019

IOC's INDMAX Refining Technology Is Selected by Serbian Oil&Gas Company
After creating ripples in the domestic refining sector, state-owned Indian Oil Corporation's (IOC) state-of-the-art INDMAX refining technology has been selected by a Serbian oil and gas company for production of higher value products from crude oil.
Crude
19-12-2019

The Chemical That Caused Russia's Oil Contamination Crisis
A highly toxic and possibly illegally traded chemical substance was the main culprit in the crisis with contaminated oil, which had Russia interrupt oil flows on its Druzhba pipeline to Europe for around two months this spring.
LNG
19-12-2019

Plans for $2 Billion LNG Project in Philippines Have Been Put On Hold
The facility was supposed to have a capacity of 2.2 million tonnes per year, with a targeted start-up by 2023.
18-12-2019

Indian Oil's Gujarat Refinery Dispatch Low-sulphur Marine Fuel
Earlier, IndianOil chairman, Sanjiv Singh unveiled the plaque marking the mechanical completion of the New Amine Regeneration Unit and ISBL (Power Grid Import) facility under BS-VI project during his visit to Gujarat Refinery.
Oil&Gas Drilling
18-12-2019

Drillers in Oil Field are Burning Off More Natural Gas than Ever Before
Methane-emissions intensity in the Permian Basin plunged 64% in the past seven years, even as crude production surged, according to a report by Texans for Natural Gas, the Permian Basin Petroleum Association and the New Mexico Oil and Gas Association.
Crude
18-12-2019

Trump Claims To Have Taken Control Of Middle East Oil
“We’ve taken control of the oil in the Middle East, the oil that we’re talking about, the oil that everybody was worried about. We have the U.S. control of that,” Trump said.
Crude
18-12-2019

Saudi Aramco Arrive in Syria’s Oil Fields
Sources have disclosed that the Saudi Arabian Oil Company, commonly referred to as Aramco, has sent a delegation of experts to discuss investment opportunities in the oil fields and wells in the Eastern Syrian city of Deir Ez-Zor.
18-12-2019

Axis Bank Launches Co-branded Credit Card with Indian Oil
This partnership is an effort from Axis Bank and IOCL to expand their presence in the fast-developing credit card ecosystem in India.
Oil & Gas Trade
17-12-2019

Russia Hopes to Sign A Dealto Duild An Oil Pipeline With Congo
Russia is hopeful of Russia's TMK and the Republic of the Congo's national oil company, SNPC, signing a deal soon to build an oil pipeline in the West African nation, Russian deputy energy minister Pavel Sorokin said on Tuesday.
LNG
17-12-2019

Construction of The Controversial LPG Plant Resumes at Puthuvype
Kochi: Construction of the controversial LPG plant at Puthuvype resumed on Monday, two-and-half years after the work was suspended owing to protests by local residents, amidst strong police presence.
Crude
17-12-2019

NNPC's Refineries Record Losses for Nine Consecutive Months
The three refineries belonging to the Nigerian National Petroleum Corporation (NNPC) recorded losses for nine consecutive months, the corporation said in its September financial results.
Oil & Gas Trade
17-12-2019

Israel Becomes Major Energy Exporter After Signing Egypt Gas Permit
Energy Minister Yuval Steinitz called the permit a "historic landmark" for Israel.
Oil & Gas Trade
17-12-2019

Oil Poised Near Three-Month Highs on U.S.-China Trade Hopes
Oil prices trickled a fraction lower on Tuesday but remained near a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal is in the pipeline, set to stoke oil demand in the world’s biggest economies.
Oil Price
16-12-2019

Oil Prices Fall But Hold Near 3-month High on Trade Deal Agreement
Brent crude oil futures fell 23 cents, or 0.4 per cent to $64.99 a barrel by 0101 GMT, after closing at a near three-month high on Friday.
Oil and Gas Technology
15-12-2019

South Korean Biochem Company Starts Biodiesel-Petrol Mix Production
SK Chemicals, South Korea's top biofuel producer, has begun research to mix its biodiesel with petroleum-based fuels to produce low-sulfur marine oil that will meet new green shipping fuel regulations.
Oil & Gas Trade
15-12-2019

Oil Market’s Big Data Show OPEC+ Cuts Fall Short
The three big oil forecasting agencies all see OPEC producers needing to comply fully with output cuts they agreed in Vienna last week if they are to avoid big builds in inventories in the first half of 2020.
14-12-2019

DNO Makes Minor Oil and Gas Discovery off Norway
Oil and gas company DNO is in the process of concluding the drilling of a wildcat well near the Heidrun field in the Norwegian Sea after finding a minor oil and gas discovery.
Oil & Gas Trade
13-12-2019

Aramco Floats to Become the World’s Most Valuable Company
Saudi Arabia’s state-owned oil company, Saudi Aramco, officially became the world’s most valuable company yesterday, after its floating on Riyadh’s stock exchange, the Tadawul, saw its shares surge 10% above their initial valuation within seconds.
Oil & Gas Trade
13-12-2019

OPEC+ Oil Supply Cuts Won’t Prevent Surplus in 2020
Global oil markets still face a surplus next year even if OPEC and its partners deliver newly-announced production cuts in full, the International Energy Agency said.
Crude
12-12-2019

Saudi Aramco Replaces Apple as World’s Largest Listed Company
Saudi Arabia’s oil company Aramco gained 10 per cent in its first moments on the stock market on Wednesday in a dramatic debut that held until closing and pushed its value up to US$1.88 trillion.
Oil & Gas Trade
11-12-2019

Saudi Aramco Oil Firm Starts Trading after Record £19.5bn IPO
Saudi Arabia’s oil company Aramco has started trading on the Saudi Tadawul stock exchange for the first time after a 25.6 billion dollar (£19.5 billion) initial public offering that set the record as the biggest in history.

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