Oil

Iran

Iran Launches Phase 1 of Qeshm Oil Export Terminal

Iranian president Hassan Rohani has inaugurated the first phase of a new oil export terminal on Iran's Qeshm island, at the mouth of the Gulf of Oman.

Oil Price

Oil Edges Higher Ahead of Opec+ Meeting with Demand in Focus

Oil edged higher toward US$38 a barrel in New York ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-…

Oil Pipeline

Uganda and Tanzania Sign $3.5bn Oil Pipeline Deal

Tanzania and Uganda have signed an agreement allowing for the construction of a 1,445 km crude oil pipeline.

Elliott Attempting to Prevent Chevron’s Takeover of Noble Energy

Paul Singer’s investment management firm Elliott Management will push for Noble Energy to abandon plans to sell itself to oil major Chevron.

Energy Transition

Italian Players Team up to Work on Energy Transition Technologies

Italian oilfield services provider Saipem and energy infrastructure operator Snam have signed a Memorandum of Understanding to work together on new energy trans…

Oil & Gas Trade

Kazakhstan Will Export Natural Gas to China As Planned

Kazakhstan Gas Transportation Company completed the export of natural gas to China in accordance with the contract.

Offshore Wind Power

Oil Major BP Makes First Ever Move In Offshore Wind Energy

BP is making its first move into the offshore wind market with a strategic partnership in U.S. offshore wind assets with Equinor in a deal worth US$1.1 billion.

Oil Price

Russia’s Central Bank Warns That Oil Could Slide To $25

Russia’s central bank has warned that crude oil prices could slump to $25 in its risk scenario for monetary policy over the next three years, TASS reports.

Netherlands

Total and PitPoint.LNG to Build Multi-Fuel Station in the Netherlands

Total Nederland and PitPoint.LNG have started construction of a new multiple-energy truck station at the new A1 business park in Deventer, the Netherlands.

Oil & Gas Trade

Russia's Gazprom Boosts Natural Gas Supplies to China

Russia's supply of natural gas to China via the Power of Siberia rose to 12 million cubic meters per day in July and August.

Fire Aboard Oil Supertanker Off Coast of Sri Lanka is Now Extinguished

A fire on a supertanker abandoned off Sri Lanka's east coast has been extinguished.

Energy Storage System

Gravitational Energy Storage Using Soil Batteries

The technology uses storage cores (large drums filled with compacted soil) that could be shifted between lower and higher points.

Market Analysis

Mexico’s Pemex Slashes Oil Production Target For 2021

Mexico has revised down energy giant Pemex’s oil production target for next year by more than 8 percent in what was a no-surprise move to those familiar with t…

Oil Price

Saudi Economic Outlook Sours After Oil Price Crash

Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingd…

United States

Trump Administration to Deny Pending Retroactive U.S. Biofuel Waivers

U.S. President Donald Trump has instructed that dozens of oil refiner requests for retroactive waivers from U.S. biofuel laws be denied amid concerns the issue …