Gas

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.

CCGT

Vietnam Adds 2.7-3GW Gas-Fired Projects to National Planning

​Their first phases are set to be commissioned in 2025-26.

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…

Crude Oil

Oman Plans About 30 Per Cent Cut in July Crude Allocations

​Oman has notified all its crude oil term customers of a cut of about 30 per cent in their allocations for July loading and delivery, Oman's oil and gas minist…

Oil Price

Chevron Slashes Capex Again To Protect Dividend In Oil Price Rout

​U.S. oil supermajor Chevron Corporation (NYSE: CVX) reduced its capex guidance for the second time in two months to protect its dividend, as it warned on Frid…