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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
19-08-2019

OPEC Oil Production Dips on , Saudi Arabia, Nigeria, Others' Cuts
The Organisation of Petroleum Exportig Countries (OPEC’s) crude oil production fell by another 246,000 barrels per day (bpd) last month compared to June.
Shale Gas
19-08-2019

UK Government Has Authorised the Commencement of Fracking in Lancashire
The UK government under recently-appointed Prime Minister Boris Johnson has set out its position on hydraulic fracturing, also known as fracking, and allowed Cuadrilla Resources to resume fracking at its site in Preston New Road, Lancashire.
Shale Gas
16-08-2019

Russian Giant Gazprom Saw the Highest Production Growth
Russian giant Gazprom saw the highest production growth over the last five years, followed by shale gas players in the US and China, while BP dominates among the majors, according to Rystad Energy.
Oil&Gas Drilling
16-08-2019

What is Hydraulic Fracturing？ A Controversial Source of Energy
The US is the world leader in fracking and natural gas in the world. Fracking, also known as hydraulic fracturing, is a common target for environmental protestors due to its propensity to cause miniature earthquakes and use up vast amounts of water.
Oil&Gas Drilling
16-08-2019

NNPC Called on the Chinese Government to Increase its Investment in the Nigerian Petroleum Industry
The Nigerian National Petroleum Corporation, NNPC, Thursday, called on the Chinese government to increase its investment in infrastructural development in the Nigerian petroleum industry.
Oil & Gas Trade
15-08-2019

An Iranian Oil Tanker Seized by British Royal Marines will be Released
Gibraltar Chief Minister Fabian Picardo said that the Grace 1 would be released on Thursday, adding that Gibraltar authorities would not renew the order to detain the oil tanker.
Oil & Gas Trade
15-08-2019

How Do U.S. Sanctions Affect the Sector?
In January the United States imposed sanctions on Venezuela’s most important global business - producing and selling crude oil, which accounts for more than 95 percent of the country’s export revenue.
Oil & Gas Trade
15-08-2019

IEA Warns Global Oil Situation is Becoming Even More Uncertain
Mounting signs of an economic slowdown and a ramping up of the US-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said on Friday.
Oil&Gas Drilling
14-08-2019

The Upheaval in the UK North Sea Looks Set to Continue with US Oil
The upheaval in the UK North Sea looks set to continue with US oil and giant ExxonMobil reported to be considering exiting the area after more than 50 years.
Oil Price
14-08-2019

Oil Prices Continued to Rally Yesterday as the Trade War Stoked Fears
Oil prices continued to rally yesterday, following reports that the United States has decided to delay the next round of tariffs that were to be imposed on Chinese goods.
Oil Price
14-08-2019

Crude Oil Futures Retreated from Overnight Highs
Crude oil futures retreated from overnight highs, spurred by signs of a thaw in US-China tensions, during mid-morning trade in Asia Wednesday on profit-taking following the release of a bearish report of last week's US crude inventory.
Oil&Gas Drilling
13-08-2019

Malaysia Develops a $480 Million Oil Storage To Push It into An Oil And Gas Hub
Malaysia on Tuesday said the Johor PortAuthority was working to develop a 2 billion ringgit ($477 million) oil storage and ship refueling site in the country's south.
Oil & Gas Trade
13-08-2019

Crude Oil Futures were Marginally Lower During Mid-morning Trade in Asia
Crude oil futures were marginally lower during mid-morning trade in Asia Tuesday, amid concerns over the impact the ongoing US-China trade tensions will have on global growth and demand.
Crude
13-08-2019

US Crude Oil Inventories Fell , as Refinery Runs Remained High
US crude oil inventories likely fell 2.7 million barrels last week, as refinery runs remained high, an S&P Global Platts analysis showed Monday.
LNG
12-08-2019

Canada Government Subsidies for Project Aim to Reduce Reliance on US Market
A 40 billion Canadian dollar ($30 billion) project in British Columbia led by Royal Dutch Shell is on track to start exporting liquefied natural gas to Asia as early as 2024, having received a significant financial boost from Canada's federal government.
Oil & Gas Trade
12-08-2019

Iran to Cut Down Direct Dependency on Oil Revenues to Zero
Iranian Vice-President Baqer Nobakht said on Sunday that his country is determined to draft its new budget bill with zero-dependence on oil revenues in a bid to disappoint the US with its maximum pressure campaign against Tehran.
Oil & Gas Trade
11-08-2019

Russia to Leapfrog Saudi in Wealth League as Oil Power Shifts
For the first time in eight years, the Bank of Russia’s total stockpile of cash, gold and other securities is about to surpass Saudi Arabia’s, highlighting the Kremlin’s leverage in talks between major oil producers about how much to reduce production.
Oil & Gas Trade
11-08-2019

Iraq Continues Negotiations with US Exxon Mobil Over Mega Project
Iraq Oil Ministry on Saturday said its negotiations with U.S. Exxon Mobil over a mega project in southern Iraq are still on track, denying reports that the ministry has ended or excluded the U.S. firm from the strategic oil project.
Oil&Gas Drilling
10-08-2019

Chevron Australia Starts Storing Underground CO2 Coming From Natural Gas Liquefaction
The Australian subsidiary of American supermajor Chevron Corp. announced Thursday the start up of a carbon dioxide injection system, aimed at storing underground CO2 coming from natural gas liquefaction at the Gorgon project.
Oil Price
09-08-2019

The EIA Predicts that Natural Gas will Forms 37% of the US' Energy in 2019
The US Energy Information Administration (EIA) released its short-term energy outlook (SEO) on 6 August, outlining the country’s energy production in 2019 and future production in 2020.
Oil Price
09-08-2019

Oil prices Fell on Friday Amid Fears Over Demand as the U.S-China Trade
International benchmark Brent crude futures, were at $57.20 a barrel by 0324 GMT, down 18 cents, or 0.3%, from their previous settlement. U.S. West Texas Intermediate (WTI) futures were at $52.45 per barrel, down 9 cents, or 0.2%, from their last close.
Crude
08-08-2019

Pertamina Says Oil Spill Recovery will Take Until at Least March Next Year
Clean-up efforts after an oil spill from a well in Indonesia’s Java Sea will take until at least March next year, state energy firm Pertamina said on Thursday as it struggles to plug the underwater leak.
Shale Gas
08-08-2019

Far from Securing Hydrocarbon Dominance for Another 100 Years
Dustin Yellin, a Brooklyn, N.Y.-based artist whose intricate 3D photomontages adorn the likes of New York’s Lincoln Center, wants to draw your gaze to climate change. Not in a subtle way, either.
Oil & Gas Trade
07-08-2019

Bank of America Warns China's Purchases of Iranian Crude Could Trigger Oil Market Crash
In the latest round of hostilities between the world's two biggest economies, Washington announced new tariffs on another $300 billion worth of Chinese goods.
Oil & Gas Trade
07-08-2019

Oil Prices Steady, U.S.-China Trade War Dispute Remains in Focus
Oil prices steadied on Wednesday after falling at the start of the session, with the potential for damage to the global economy and fuel demand from the intensifying Sino-U.S. trade dispute continuing to cast a shadow over the market.

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