Oil

Oil&Gas Drilling

Russia's Gazprom Neft and Shell Launch JV for Hydrocarbon Development

Russian oil producer Gazprom Neft (SIBN.MM) on Tuesday said it had signed an agreement with Shell (RDSa.L) to establish a joint venture to develop a large-scale…

LNG

Total, Exxon Demobilize PNG LNG Expansion Workers Due to COVID-19

Oil and gas companies Total and ExxonMobil have idled workers at the troubled Papua New Guinea LNG expansion project due to the COVID-19 pandemic, project partn…

Oil Field

Chevron to Take over Noble’s Cyprus Gas Field

US energy giant Chevron is taking over Noble Energy for $5 bln in an all-share deal, boosting its shale gas assets at home.

Chevron to Buy Noble Energy in Deal Valued at $5 billion

Oil major Chevron has entered into a definitive agreement with Noble Energy to acquire all of the outstanding shares of Noble Energy in an all-stock transaction…

South Africa

South African LPG Association Name Change Announced

The Liquefied Petroleum Gas Safety Association of South Africa has announced its name change to Liquefied Petroleum Gas Association of South Africa.

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Iran

Iran Expected to Produce 2.7bn More Barrels of Oil from Shared Azadegan Field

Iran is expected to produce some 2.7 billion more barrels of oil amounted to dlrs one trillion, Petroleum Minister Bijan Zangeneh said on Monday.

LNG

Pilot LNG Proposes New Texas LNG Bunkering Terminal

Natural gas infrastructure specialist Pilot LNG announced on Friday a new project to construct a dedicated liquefied natural gas bunkering terminal in Texas, U.…

Crude Oil

Virus Surge Dents Oil Demand Recovery Optimism

Jul.19 -- Oil futures are holding steady with an ongoing surge in coronavirus cases in some parts of the U.S. tempering optimism for a demand recovery.

LNG

LNG Markets May Not Recover Until 2021

The cash margin for U.S. LNG exporters improved slightly in the second quarter, but will likely remain negative for the duration of 2020.

Oil & Gas Trade

Kuwait's Oil Sector Cancels Several Tenders & Projects to Cut Costs

Kuwait Petroleum Corporation and its subsidiaries have started to cancel a large number of unimportant tenders and contracts within the budget of the current fi…

Russian Federation

Oil Price of $40-43 per Barrel more or Less Balanced

The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening …

United States

India to Create its First Overseas Oil Stockpile in US

India is moving to store oil in the US, the first time world’s third-largest oil guzzler is creating an emergency reserve abroad to take advantage of low price…

United States

US Oil & Gas Rig Count Falls to Record Low for 11th Week: Baker Hughes

The US oil and gas rig count, an early indicator of future output, fell by five to an all-time low of 253 in the week to July 17.

Crude Oil

Crude Shipments Resume from Pemex Floating Oil Storage Unit After Collision

An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted …