Oil

Oil Price

Oil Plunges To $35 As Lockdowns Return

Oil prices extended their 5-percent slump from Wednesday into Thursday morning, plunging by another 5 percent, with WTI Crude sliding to $35 a barrel.

Crude Oil

OPEC Members Rebel Over Production Cut Extension

Iraq, the United Arab Emirates, and Kuwait - the biggest OPEC producers behind Saudi Arabia – are reportedly not particularly inclined to support a rollover of…

Oil&Gas Drilling

Equinor in Two Oil Discoveries Offshore Canada

Norwegian oil and gas company Equinor has made two oil discoveries offshore Newfoundland, Canada.

Oil&Gas Drilling

Neptune Energy Makes Small Oil Discovery off Norway

The discovery is estimated to hold between 0.5 and 3.2 million cubic metres (mcm) of recoverable oil equivalents, NPD said in a statement.

Oil&Gas Drilling

Total Boasts Second ‘Significant Discovery’ Offshore South Africa

French oil major Total has made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, 175 kilometres …

Oil & Gas Trade

Russia’s Crude Oil Exports Drop 8% In January-August

Russia’s crude oil exports dropped by 7.9 percent year over year in the period January to August.

Oil & Gas Trade

China Launches Construction Of Huge $20 Billion Refinery Complex

China has launched the construction of a refinery and petrochemical complex worth US$20 billion in the Shandong province, the home of the independent Chinese re…

Energy Technology

Trump Makes Final Push To Defend Fracking

To that, Trump said, “That’s a big statement.”

Oil Pipeline

The U.S. Looks To Delay The World’s Most Controversial Pipeline Once Again

Industry watchers are becoming numb to the ever-changing prospects of the project and are becoming less and less likely to put forward any estimates as to when …

Oil Field

LLOG Hatches Development Plan for New Gulf of Mexico Oil Discovery

LLOG Exploration Company has revealed a new discovery in the U.S. Gulf of Mexico and a development plan for the offshore field.

Oil Pipeline

China's Sinopec Completes Qingdao-Nanjing Gas Pipeline Construction

The 536.13-kilometre pipeline, which also connects to the existing Sichuan-East gas pipeline, is expected to help improve energy security in China's eastern dev…

Oil Field

South Africa Discovers Large Deep-Sea Oil and Gas Field for the First Time

South Africa’s Minister of Mineral Resources and Energy Mantashe visited the Luiperd drilling well in the waters near Moso Bay in the Western Cape Province of …

Crude Oil

US Imposes New Sanctions on Iran’s Ministry of Petroleum

The United States has expanded sanctions against Iran, targeting the country's ministry of petroleum along with 10 other entities

Energy Investment

Gov’t Approves $575m Sale of Tullow Oil Plc Assets to Total

Tullow Oil plc has revealed that the Uganda and the country’s tax body, the Ugandan Revenue Authority have executed a binding Tax Agreement that reflects the p…

Oil & Gas Trade

American Energy: Issues First Extensions of Natural Gas Export Authorizations Through 2050

The Trump Administration extended the terms of seven long-term liquefied natural gas (LNG) export authorizations through 2050.