Oil

Crude Oil

Oil Prices Reach One-Year High As Global Crude Supplies Shrink

Oil surged to the highest in more than a year as the market looks ahead toward an accelerating decline in global inventories and a comeback in demand.

Crude Oil

OPEC+ Considers Production Increase At March Meeting

OPEC+ will discuss the possibility of increasing its oil production levels at the next meeting, OPEC+ sources said on Wednesday.

LNG

Thailand’s January LNG Imports Fall to Three-Year Low

Thailand's LNG imports hit a three-year low in January, with no receipts from its usual suppliers Australia and Malaysia, even as one of its biggest importers Q…

Oil Field

Equinor to Shut Down Veslefrikk Field after 30 Years

After more than 30 years on stream and over 400 million barrels of oil equivalent, Equinor and its partners in the Veslefrikk field, located in the North Sea, a…

Oil&Gas Drilling

Petronas Hits Oil Offshore Indonesia

Malaysian energy giant Petronas has made an oil discovery at the Hidayah-1 exploration well, located within the North Madura II Production Sharing Contract, off…

Natural Gas

Turboden and Siemens Energy Upgrade Gas Compressor Station in Egypt

Turboden, a Mitsubishi Heavy Industries Group company, has been selected to supply a high-temperature Organic Rankine Cycle system to GASCO’s Dahshour gas comp…

Saudi Arabia

Long-Serving Saudi Oil Minister Ahmed Zaki Yamani Dies at 90

Saudi state television reported his death, without offering a cause. It said he would be buried in the Muslim holy city of Mecca

Video: China Discovers Over 100 million tonnes of Oil, Gas Reserves in Bohai Bay

China Discovers Over 100 million tonnes of Oil, Gas Reserves in Bohai Bay

Natural Gas

Israel and Egypt Discuss Natural Gas Pipeline Link

Egypt and Israel said they may build an undersea natural-gas pipeline connecting the two countries, as they seek to collaborate on exporting the fuel to Europe.

Oil Pipeline

Republicans Sound Alarm Over Major U-Turn by Biden Admin on Russia-to-Europe Gas Pipeline

The report to Congress named two enterprises previously sanctioned by the Trump administration — the Russian pipe-laying ship ‘Fortuna’ and its owner KVT-RUS…

Oil & Gas Trade

Iraq Freezes Crude Prepayment Deal with China’s Zhenhua

Iraq has frozen a five-year crude prepayment deal with Chinese state-owned trading firm Zhenhua because of rising oil prices, oil minister Ihsan Abdul Jabbar Is…

Oil Exploration

Shell Delays US Offshore Production Start ups

Shell has delayed the startup of the PowerNap and Vito deepwater projects in the US Gulf of Mexico because of Covid-19-related issues.

Crude Oil

Texas Refineries Restarting After Power Loss

Texas refineries reported restarting units shut last week after subfreezing temperatures and a power crisis abruptly cut 28pc of US crude processing capacity.

OPEC

Saudi Arabia And Russia Are Headed For Another Clash On OPEC+ Oil Cuts

The leaders of the OPEC+ alliance, Saudi Arabia and Russia, are reportedly once again at odds over oil supply management ahead of another crucial meeting of the…

Oil & Gas Trade

Qatar's LNG Megaprojects Are Making Markets Increasingly Competitive

Qatar Petroleum’s recently set a new record for the largest LNG export project ever.