Oil

Oil Field

ExxonMobil Announces Two New Oil Discoveries In Guyana

ExxonMobil has made two more discoveries in the Stabroek block offshore Guyana, which add to the previously announced 10 billion oil-equivalent barrels recovera…

LNG

South Korea Retires Two Oldest Coal-Fired Power Plants, to Replace with LNG

South Korea has permanently shut its two oldest coal-fired power plants, which will be replaced by new LNG-based ones, in line with President Moon Jae-in's push…

Oil & Gas Supply

Russia’s Oil Output to Rise by 5% in 2022

Russia’s deputy prime minister Alexander Novak expects the oil output to rise by 5 per cent next year and reach its pre-pandemic level by May 2022.

Oil Pipeline

Putin: Nord Stream 2 Is Loaded With Gas And Ready To Deliver

Russian President Vladimir Putin has noted that the Nord Stream 2 pipeline to Germany is fully ready and prepared to start pumping gas exports.

Crude Oil

High Gas Prices Lead To Conversion Of Ammonia Plant To Green Hydrogen

Incitec Pivot is Australia’s largest supplier of fertilisers, producing around two million tonnes of ammonia each year for use in Australian agriculture.

Oil&Gas Drilling

Indian State Oil Giant To Significantly Expand Oil Exploration

Indian state firm Oil and Natural Gas Corporation plans to raise fourfold its exploration and production acreage by 2025

Crude Oil

Saudi Arabia may Set Deep Crude Price Cuts for Asia in February

Top oil exporter Saudi Arabia may implement deep price cuts for the crude it sells to Asia in February after Middle East benchmarks and spot prices slumped this…

Crude Oil

Mexico To End Oil Exports In 2023

Mexico will suspend crude oil exports in two years in a bid to focus on domestic self-sufficiency.

Crude Oil

Oman's Ras Markaz Crude Storage Outside Strait of Hormuz to Come Onstream Q2

Infrastructure to store crude at Ras Markaz in Duqm on the southern coast of Oman is already complete, Salim al-Hashmi

Oil & Gas Trade

Hyundai Oilbank to Export Gasoline and Diesel to Hawaii

Hyundai Oilbank announced on Dec. 28 that it has signed a long-term contract to export finished petroleum products to Hawaii.

Oil Field

PetroRio Forging Ahead with Field Development off Brazil

Brazilian oil and gas company PetroRio has undertaken the required steps to move forward with the development of the Wahoo field – located offshore Brazil.

Crude Oil

Higher Crude Demand Supports India-Bound Suezmax Rates

Suezmax rates from the Mideast Gulf to the west coast of India have been rising on account of higher demand from Indian state-controlled refineries.

Crude Oil

India’s Haldia Petrochemicals Plans New Cracker Project

Indian petrochemical producer Haldia Petrochemicals plans to develop a new oil-to-chemicals project at Cuddalore in south India's state of Tamil Nadu.

Oil&Gas Drilling

Aker BP Secures Drilling Permit for North Sea Well Trio

The Norwegian Petroleum Directorate has granted Aker BP a drilling permit for three wells in the North Sea offshore Norway.

Natural Gas

EU Natural Gas Prices Tumble For Fifth Straight Day

20 tankers with U.S. LNG are traveling to Europe, and another 14 are headed in the same general direction awaiting further orders