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Oil
Crude Oil
Russia is Raising Crude Oil Output as OPEC+ Cuts Ease
OPEC+ producers from Aug. 1 have agreed to slim their output cuts to 7.7 million barrels per day from 9.7 million bpd.
Nigeria
Nigeria Govt Reiterates Pledge to Unlock Opportunities in Gas Sector
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said Africa, particularly Nigeria, has huge gas resources which can…
Oil Price
ExxonMobil Posts First Consecutive Quarterly Losses Since the Mid-80s
Oil major ExxonMobil reported a back-to-back quarterly loss for the first time in over three and a half decades.
Russian Federation
Poland Fines Gazprom $57 million over Nord Stream 2
Poland’s antimonopoly watchdog UOKiK said on Monday it had fined Gazprom 213 million zloty ($57 million) (GAZP.MM) for lack of cooperation in its proceedings w…
Crude Oil
Iran Clears Oil Spill in Northern Gulf Region
Iranian teams have cleaned up an oil slick near field in the northern region of the Gulf that had extended over a six-square-km area.
Market Analysis
European Oil Major Trading Units Provide Buffer in Rough Second Quarter
The trading units of European oil and gas majors have shielded their second-quarter results from the full force of the corona-induced collapse in demand for fue…
Market Analysis
Oil Demand May Never Recover from COVID-19 Crisis, says Shell CEO
Global oil demand might never return to levels seen before the outbreak of the COVID-19 epidemic.
Oil Field
CNPC in Talks to Buy $1.5-Billion Stake in BP’s Oman Gas Field
Chinese state-held giant China National Petroleum Corporation is in advanced talks to buy a 10-percent stake in a giant natural gas field in Oman from BP in a d…
Oil Pipeline
Trump Allows Existing Keystone Oil Pipeline To Boost Capacity
TC Energy, the right to increase the maximum throughput capacity, while the Keystone XL project continues to face significant legal hurdles to starting construc…
China
Why the Iran-China Oil Alliance is So Important
The steady rise in U.S. strategic competition with the People’s Republic of China over trade and the South China Sea already has so many dimensions that it is …
Qatar
Qatar: Qatar Petroleum Wins ‘New Venturer of the Year Award’
Qatar Petroleum, in honor of its outstanding and growing international exploration presence around the globe, has been awarded the “New Venturer of the Year Aw…
Oil & Gas Trade
US extends LNG Export Term to 2050
The Department of Energy is issuing a final policy statement that allows for US LNG exports to non-free trade agreement countries to be extended through the yea…
Netherlands
Shell Swings to Loss on $16bn Impairment Charge but Pays Dividend
Royal Dutch Shell swung to a heavy net first-half loss, but paid a dividend as the Covid-19 crisis hammered oil and gas prices.
United States
Total Takes US$7-Billion Hit on Exposure to Canada's Oil Sands
Total SE announced an US$8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the viability o…
Oil Price
Why Oil Remains Stuck at $40
Oil prices posted gains once again on Wednesday on the back of bullish data from the EIA, but analysts are warning that plenty of downside risks remain.
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