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Oil
Crude Oil
Russia Predicts U.S. Oil Output Will Drop By 2-3 Million Bpd
U.S. oil production could decline this year by 2 million bpd-3 million bpd, due to limited storage capacity and low oil prices, Russia’s Deputy Energy Minister…
Oil & Gas Trade
Saudi Arabia Succeeds In Seizing Oil Market Share From Key Rivals
Saudi Arabia doubled its crude oil exports to China in April to the highest volumes since at least 2017.
Oil Shale
Shell Sells Appalachia Shale Gas Assets to National Fuel
The consideration is intended to be paid in cash, but National Fuel has the option to provide up to US$150 million of NFG common stock as consideration.
Oil & Gas Trade
Why Russia Finally Accepted Deeper Oil Output Cuts
When Russia refused two months ago to join the deeper OPEC oil cuts, it was because Moscow found them unnecessary. Two months later, Russia agreed to cut quite …
Crude Oil
Equatorial Guinea set to Construct Modular Crude Oil Refinery in Punta Europa
The contract was awarded to Houston based VFuels Oil & Gas Engineering (VFuels),a full service oil and gas engineering, design, and fabrication firm that specia…
Oil&Gas Drilling
Equatorial Guinea Extends Oil and Gas Exploration Licenses by Two Years
The minster continued: “Liquidity is very important right now. The last thing we want is for [companies] to decide that it is not economical to operate in-coun…
Oil & Gas Trade
Saudi Arabia's Oil Exports to Drop in May as Demand Slides
Saudi oil exports are expected to fall to about 6 million barrels a day in May, the lowest in nearly a decade.
Crude Oil
Numaligarh Refinery to Import 21TMT of Crude Oil from Petronas Malaysia
NRL will take advantage of the collapse in oil prices to import 21 tonnes of crude from petronas.
Oil Price
Oil Prices Fall as Rising U.S. Inventories Reassert Supply Concerns
Oil prices fell Wednesday, ending a multi-day rally.
Oil Price
Russia’s Gazprom Neft Sees Oil Prices Topping $30 This Summer
Oil prices will top $30 a barrel this summer as demand will start to recover slowly, Alexander Dyukov, chief executive at Russian oil producer Gazprom Neft, t…
Oil & Gas Trade
Venezuela Oil Exports Climb As OPEC Agreement Kicks In
While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil expo…
Crude Oil
Saudi Must Reduce Expenditures to Ease COVID-19 Economic Impact: Minister
Saudi Arabia "must reduce expenditures" to mitigate the economic impact of the COVID-19 pandemic, Finance Minister Mohammed al-Jadaan said.
Oil Shale
Exxon, Chevron Slam Brakes on Shale as Oil Demand Tumbles
Exxon Mobil Corp and Chevron Corp are slamming the brakes on U.S. shale oil production at a time when crude prices and fuel demand have plunged due to global …
Crude Oil
Oil Rises Further Above US$26 as Opec+ Begins Record Cuts
Oil rose further above US$26 a barrel on Friday as Opec and its allies embarked on record output cuts to tackle a supply glut due to the coronavirus crisis that…
Oil Price
Canada’s Oil Patch Struggles To Survive The Worst Recession Ever
Canada is likely going through its worst-ever recession, with more pain to come in May when the statistics authorities and analysts will have a fuller picture o…
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