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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
11-11-2019

China's CNPC Launches Deepest Onshore Gas Field
CNPC has fully launched the deepest onshore gas field in the country, Keshen 9, in the south foot of Tianshan in Tarim oilfield, Xinjiang region, reported state television on Monday, citing officials from the company.
Oil & Gas Trade
11-11-2019

China to Remain a Battle Ground for Saudi Aramco, Russian Crude Suppliers
China has been relying heavily on Saudi Arabia and Russia for its refinery feedstock requirements over the recent years, with both producers constantly switching between them the top supplier position to Asia's biggest energy consumer.
Oil&Gas Drilling
10-11-2019

Iran’s president: New oil field found with over 50B barrels
Iran has discovered a new oil field containing 53 billion barrels of crude, President Hassan Rouhani said Sunday, a find that would increase Iran's proven reserves by over a third.
Oil & Gas Trade
10-11-2019

Saudi Aramco's Record IPO to Launch November 17
Saudi Aramco will allow investors to start bidding for shares in the world’s most-profitable company from Nov. 17. It left potential buyers in the dark about the size of the stake it plans to sell and the pricing range.
Market Analysis
09-11-2019

African Countries Tout Their Oil And Gas Investment Opportunities
Several African countries have used the Africa Oil Week (AOW) event in Cape Town this week to promote their oil and gas sectors to a global audience of investors, suppliers and other key stakeholders.
Crude
08-11-2019

Equinor Finds New North Sea oil well, Norway's Oil Boom Is Backing
“After a string of recent discoveries, 2019 is shaping up to be the most successful exploration year since 2014 on the Norwegian Continental Shelf (NCS).”
Oil & Gas Trade
07-11-2019

Analysts Say : Germany to Become Key to EU Gas Transit
Germany will become key to Europe’s gas transit with the completion of the Nord Stream 2 pipeline, while also seeing some liquidity move from the Dutch TTF hub to Germany’s Gaspool, analysts told Montel.
Crude
07-11-2019

Brazil Oil Auction Flops as Most Foreign Players Stay Away
Brazil’s largest-ever auction of oil deposits flopped, after state-controlled Petroleo Brasileiro SA scooped up two of the blocks while the remaining two went unsold and majors like Exxon Mobil Corp. decided not to bid. The real tumbled.
Oil & Gas Trade
06-11-2019

Serbia and Russia Agree on Expanding Volumes of Underground Gas Storage Facilities
Serbia has reached an agreement with Russia on expanding the volume of underground gas storage facilities from 750 million to abour 2 billion cubic meters, Serbian President Aleksandar Vucic told RTS TV channel.
Oil and Gas Equipment
06-11-2019

How Nigeria can Curb Oil Revenue Losses
To curb oil theft challenges, there is a need for closer community engagement among critical stakeholders if the nation will effectively realise its revenue targets for the year, operators in the downstream sector have said.
Oil&Gas Drilling
06-11-2019

UAE Announces New Oil And Gas Reserves in Abu Dhabi
The Supreme Petroleum Council (SPC), the highest energy decision-making authority of the United Arab Emirates, announced on Monday major increases in Abu Dhabi oil and gas reserves.
Crude
05-11-2019

Brazil doesn't yet Know How Much Oil has been Spilled on the Atlantic Ocean
The oil, which began washing up along Brazil’s coast in August, has hit over 300 beaches in nine states of Northeast, many of them popular tourist spots.
Oil&Gas Drilling
04-11-2019

UK Government Will Halt Controversial Fracking Because of Earthquake Fears
The announcement comes after a report by the Oil and Gas Authority (OGA) found it is not currently possible to accurately predict the probability or magnitude of earthquakes linked to fracking operations.
LNG
04-11-2019

Senegal Enters The LNG Race with Significant Offshore Discoveries
At present when it comes to emerging liquefied natural gas (LNG) plays the eyes of the world are on Africa’s eastern coast and the activities around Mozambique, but that could be about to change.
Crude
02-11-2019

Russia: US Smuggling Syrian Oil Worth $30 million a Month
Russia has slammed President Donald Trump's plan to deploy troops into Syrian oil fields as “criminal activity,” accusing the US of seeking to smuggle out oil worth over “$30 million" per month.
Oil Price
02-11-2019

Oil Price can Never Get to above $100 per Barrel in Our Lifetime
Speaking as a guest lecturer at the first convocation ceremony of Edo University, Iyamho, Edo State, Emefiele said, “oil price can never get to above $100 per barrel in our lifetime.
Oil&Gas Drilling
02-11-2019

Russia’s Oil Output Still Exceeds OPEC+ Cap Even as Gap Narrows
Russia’s average daily oil production remained above its OPEC+ target in October, though the compliance gap is the narrowest since the Druzhba crude-contamination crisis earlier this year.
Oil & Gas Trade
01-11-2019

Oil Prices Fall As EIA Reports Large Crude Build
Analysts expected a build of 729,000 barrels for last week after a 1.7-million-barrel draw interrupted a string of five weekly inventory builds, which added more than 19 million barrels to U.S. commercial crude oil inventories.
Oil & Gas Trade
01-11-2019

South Korea's LNG Imports to Fall on New Nuclear, Coal Plants
South Korea’s imports of liquefied natural gas are set to fall over the next five years after reaching record volumes in 2018, squeezed by the start-up of new long-planned nuclear and coal power plants.
Oil & Gas Trade
31-10-2019

Denmark Snubs Trump with Approval of Russian Gas Pipe to Europe
In a major boost for Russia's effort to tighten its grip over natural gas supplies to western Europe, Denmark said it will allow the controversial Nord Stream 2 pipeline to pass through its territory.
Oil & Gas Trade
30-10-2019

BP Eyes Brazil Gas Buildout, May Swap LNG Imports for Domestic Output
BP Plc wants to be part of an effort to build up natural gas infrastructure in Brazil, an executive said on Tuesday, and believes a power plant it is building in Rio de Janeiro could eventually be supplied by gas from offshore oilfields here.
Crude
30-10-2019

Russia Said it’s too Early to Talk about Deeper Output Cuts
Oil held below $56 a barrel after Russia said it’s too early to talk about deeper output cuts, casting doubt on the ability of OPEC and its allies to balance supply against a worsening demand outlook.
Oil & Gas Trade
30-10-2019

South-East Asia may Become Net Fossil Fuel Importer in Coming Years: IEA
Southeast Asia could become a net importer of fossil fuels in the next few years, raising the financial burden on governments and increasing carbon emissions in the region, the International Energy Agency (IEA) warned in a report.
Oil&Gas Drilling
29-10-2019

BP Makes Major Gas Discovery Offshore Mauritania
BP has made a major gas discovery with the Orca-1 well, drilled just south of the BirAllah discovery, offshore Mauritania. With 13 trillion cubic feet (tcf) of gas in place, Orca-1 is the third-largest discovery made so far this year.
Crude
29-10-2019

U.S. Military Envisions Broad Defense of Syrian Oilfields
The United States will repel any attempt to take Syria’s oil fields away from U.S.-backed Syrian militia with “overwhelming force,” whether the opponent is Islamic State or even forces backed by Russia or Syria, the Pentagon said on Monday.

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