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Oil & Gas
Kazakhstan
Kazakhstan's Energy Minister: Plans to increase domestic refining capacity to twice its current level
Crude
21-08-2019
BP and Glencore are Struggling to Sell Around Tainted Russian Oil
BP and Glencore are struggling to sell around 600,000 tonnes of tainted Russian oil more than three months after the contamination was discovered, according to six trading sources.
Oil & Gas Trade
21-08-2019
Washington' s Decision to Reimpose Sanctions on all Purchases of Iran' s Crude
The United States has removed nearly 2.7 million barrels of Iranian oil from global markets daily as a result of Washington’s decision to reimpose sanctions on all purchases of Iran’s crude, U.S. Secretary of State Mike Pompeo said on Tuesday.
Crude
21-08-2019
How Much Crude Oil Has The World Really Consumed?
The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top 10 consumers accounting for 60 percent of the total consumption. That’s nearly 100 million barrels per day.
Oil & Gas Trade
20-08-2019
U.S.-China Trade Tensions would Ease and on Hopes, Crude Oil Prices held mostly Steady
Crude oil prices held mostly steady on Tuesday on optimism that U.S.-China trade tensions would ease and on hopes that major economies would enact stimulus measures to counter a possible global economic slowdown that could affect oil demand.
Oil&Gas Drilling
20-08-2019
CNOOC Acquires 55.55% Interest in Svenska’s Acreage Off Guinea-Bissau
FAR Limited has approved the Request for Transfer of Interest from Svenska Petroleum Exploration GB of a 55.55% participating interest in the highly prospective Sinapa and Esperanca petroleum licences offshore Guinea-Bissau.
Oil & Gas Trade
20-08-2019
The US Conveyed its“Strong Position” to the Greek Government about an Iranian Tanker
The United States has conveyed its “strong position” to the Greek government about an Iranian tanker that sailed for Greece on Monday after it was freed from detention off Gibraltar and Washington says is carrying oil to Syria.
Oil Price
19-08-2019
US and China Provided Some Volatility to Crude Prices
Crude oil futures were higher during mid-morning trade in Asia Monday, finding support from OPEC's latest monthly oil market report while uncertainty on the ongoing trade tensions between the US and China also provided some volatility to crude prices.
Oil & Gas Trade
19-08-2019
The Iranian Oil Tanker has Departed From Gibraltar after the British Overseas Territory
The Iranian oil tanker at the center of a diplomatic dispute has departed from Gibraltar after the British overseas territory rejected a US demand to seize the vessel, which is hauling $130 million worth of light crude oil.
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.
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