Oil

Crude Oil

Rystad Expects 2021 to Bring Largest Crude Deficits in Years

The Covid-19 pandemic has devastated crude and condensate demand in 2020, creating massive supply surpluses and filling up inventories, causing producers to sla…

CNOOC

China's Offshore Oil and Gas Production Hits Record High

The reporter learned from China National Offshore Oil Corporation on the 23rd that China's offshore oil and gas production will exceed 65 million tons of oil an…

Oil&Gas Drilling

Equatorial Guinea Makes Advances on 100-Day Mining and Petroleum Milestones

The Ministry of Mines and Hydrocarbons shows progress in gas development and mining exploration. Published by Africa Oil & Power for the MMH.

LNG

Daewoo E&C Bags 500 Bil. Won LNG Plant Project in Mozambique

Daewoo Engineering & Construction has won an LNG plant construction project in Mozambique for 500 billion won after jointly winning a 5-trillion-won order for a…

Crude Oil

Petrobras on New Well in Búzios Field

Petrobras has confirmed oil of excellent quality with the drilling of well 9-BUZ-48D-RJS, located in the extreme northwest of Búzios field in the Santos Basin.

Crude Oil

Russia’s Crude Oil Exports Drop 10% In January-October

Due to lower demand and the OPEC+ deal, Russia’s crude oil exports declined by 10.4 percent in volume year over year in January to October, data from the Russi…

Oil Pipeline

Nord Stream 2 to Start Laying Gas Pipes in Danish Waters

The Russia-led Nord Stream 2 consortium is expected to start laying gas pipes in Danish waters after construction was suspended for a year owing to the threat o…

Oil&Gas Drilling

Pacific Drilling to Emerge from Bankruptcy by Year-End

Offshore drilling contractor Pacific Drilling expects to emerge from Chapter 11 bankruptcy by year-end following the confirmation of its prearranged plan of reo…

Oil & Gas Trade

Gazprom lifts Ukraine January Gas Transport Bookings

Russia's state-controlled Gazprom has booked considerably more gas transport capacity through Ukraine for January, although overall booked capacity is still set…

LNG

Korean Shipbuilders Enjoying Brisk New Order Intake at Year-end

Korean shipbuilders are enjoying a brisk new order intake at the year-end.

Carbon Emissions

Exxon Pledges to Reduce Emissions, but the Details Suggest Nothing Has Changed

Under investor pressure, the company retreated from its refusal to join other oil giants in pledging reductions, with a plan that suggests it will continue busi…

Crude Oil

China Issues Higher Oil Import Quotas For 2021

China has issued the first round of crude oil quotas for next year, and it is 18 percent higher than the respective round for 2019, citing unnamed sources in th…

OPEC

Russian Energy Ministers Tells Biden Not To Disturb Oil Markets

Joe Biden’s presidency will hopefully not interfere with OPEC+ actions taken to rebalance oil markets, Russian Deputy Prime Minister and former Energy Minister…

Oil Field

Gazprom & LUKOIL Sign Master Agreement to Develop Two Fields

Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, signed the Master Agreement on the terms of the developme…

Oil Field

ConocoPhillips Makes ‘Significant’ Oil Discovery off Norway

Oil major ConocoPhillips has made what it says is a significant oil discovery in production license 891 on the Slagugle prospect located 14 miles north-northeas…