Oil

Oil & Gas Supply

Opec+ Agrees 400,000 b/d Hike for March

Opec+ ministers have agreed to press ahead with another 400,000 b/d increase in the group's crude output quota next month.

Crude Oil

China’s November Base Oil Imports Rise

China's base oil imports rose in November, supported by increased demand for replenishment cargoes at lower prices.

Crude Oil

Venezuela Takes First Iranian Condensate of 2022

Venezuela has received this year's first cargo of the Iranian condensate that has proven critical to its crude production recovery.

Crude Oil

Ugandan Oil Export Project Gets Official Launch

Uganda's journey to become a fully fledged oil exporter has reached a key milestone with an official ceremony in Kampala to mark the final investment decision o…

Crude Oil

Novak: Russia To Resume Oil Output To 90% Of Pre-pandemic Level

Russia will be able to resume its oil production to 90% of the levels it was producing prior to the pandemic, Russian Deputy Prime Minister Alexander Novak said…

Crude Oil

OPEC+ Set To Continue With 400,000 Bpd Production Increase

The OPEC+ group is expected to decide next week whether it should continue unwinding the oil production cuts by another 400,000 barrels per day in March

Crude Oil

Guyana’s Oil Production To Increase Three-Fold Next Month

Exxon plans to begin oil production from a second platform offshore Guyana next month

Crude Oil

Ice Brent Crude at $90/bl

Front-month Ice Brent crude futures prices topped $90/bl today for the first time since October 2014.

LNG

Thailand Imports more LNG in December

Thailand's December 2021 LNG imports rose on the month and on the year, likely as domestic gas production continued to fall.

Crude Oil

U.S. Releases Another 13.4 Million Barrels From SPR

The U.S. administration has approved the release of another 13.4 million barrels of crude from the strategic petroleum reserve in a move first announced last No…

Crude Oil

Peru Warns Repsol Over Oil Spill

A suspension of Repsol's refinery is among the punitive measures that Peru is considering in response to a damaging oil spill last week.

Natural Gas

Saudi Arabia’s Gas Production Hits Record-High

Saudi Arabia has grown its natural gas production by 30 percent in a decade to a record 11 billion cubic feet per day (Bcf/d) in 2020

Oil&Gas Drilling

Shell Makes Significant Oil & Gas Discovery Offshore Namibia

Shell has made a significant oil and gas discovery offshore Namibia, one of the expected hotspots for exploration this year.

Oil Price

Japan to Subsidize Oil Wholesalers for 1st Time to Curb Fuel Price

Japan's industry minister Koichi Hagiuda said Tuesday the government will implement for the first time its oil industry subsidy program, which is aimed at curbi…

Oil Refinery

Japan’s Eneos to Close Wakayama Oil Refinery on Falling Demand

Japan’s Eneos Holdings Inc. will close one of its oil refineries next year due to falling domestic demand and the shift away from fossil fuels.