Crude oil

Crude

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 o…

Crude

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 cru…

Oil & Gas Trade

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.

Crude

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

Kuwait and Saudi Arabia Start Work to Resume Oil Output from Khafji – Sources

Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with ini…

Oil & Gas Trade

Libya’s Oil Chief Denounces Port Blockades As Crude Output Plummets

Blockades of Libya’s export terminals risk cutting off virtually all of the OPEC member’s 1.2 million barrels per day in crude oil exports, warned the chairma…

Oil & Gas Trade

Crude Oil Jumps on Libya Export Blockage, Iraq Disruptions

Oil gained in Asian trading Monday following supply disruptions and political instability in key producers Libya and Iraq.

Oil & Gas Trade

Guyana Officially Becomes Oil Exporter

The world’s newest oil frontier, Guyana, has officially shipped its very first batch of crude oil on Monday, according to TankerTrackers.com—a major oil-first…

Oil&Gas Drilling

China Finds Oil In Asia’s Deepest Onshore Well

China National Petroleum Corporation (CNPC) has found crude oil and natural gas in the deepest well drilled in Asia’s onshore, striking hydrocarbons in a pre-s…

Crude

Pipeline Closure Risks Taking Nearly all Libya's Oil Offline

Two major oilfields in southwest Libya began shutting down on Sunday after forces loyal to Khalifa Haftar closed a pipeline, potentially reducing national outpu…

Shale Gas

A Crude Restructuring: How America's Shale Revolution Changes the Oil Market in the Middle East

In the first week of January 2020, US special forces executed a strike killing the leader of Iran’s foreign paramilitary arm, Qasem Soleimani, and raised the a…

Crude

Guyana celebrates first oil

THE Yannis P, a Marshall Islands-registered crude oil tanker will this weekend lift the first one million barrels of crude from the Stabroek Block offshore Guya…

Crude

Guyanese Lab Tech was First to Test Guyana’s First Oil

The ExxonMobil company has announced that Guyanese laboratory technician, Shivnarine Outar was the first person to test the first sample of Guyanese crude oil a…

Oil & Gas Trade

India May Significantly Boost U.S. Oil Imports

India and the United States will discuss India’s energy security and the Asian country buying increased volumes of U.S. crude oil when U.S. President Donald Tr…

Crude

Saudi Aramco Mulls Offshore Oil Expansions

The major expansions at Saudi Aramco’s offshore oil fields of Marjan, Zuluf, Safaniyah and Berri are expected to comprise the majority of the company’s upstre…