Oil

Africa Energy

Petrol Price goes up as Diesel, Kerosene Pump Rates Drop in Kenya

The price of super petrol has increased by Sh5.77 while those of diesel and kerosene dropped by Sh3.80 and Sh17.31 per litre respectively.

Crude Oil

Yemen Aims to Raise Oil Output 25 % within Months

Yemen aims to raise its crude oil production by 25% to 75,000 barrels per day in the coming months.

Oil Price

BP Takes Hit of Up to $17.5bn As it Forecasts Cheaper Oil

BP has forecast lower oil prices for decades to come as governments speed up plans to cut carbon emissions in the wake of the coronavirus pandemic.

Africa Energy

Nigeria Now in Full Compliance with Daily Oil Output

Nigeria had previously failed at complying completely with its promised cuts in past months.

Oil Pipeline

Will America's Pipeline Operators Survive the Oil Crisis?

Pipeline utilization by mid-stream US oil and gas companies has fallen sharply in recent months.

Oil & Gas Trade

Turkey to Receive 6 bcm of Natural Gas from Azerbaijan by June's End

The Trans Anatolian Pipeline will reach a milestone this month as six billion cubic meters (bcm) of natural gas is set to be delivered to Turkey by the end of J…

Oil & Gas Trade

Iran Pressures South Korea To Pay Debts For Oil Exports

The governor of Iran's Central Bank has threatened legal action against South Korea if the Asian country’s banks refuse to unlock billions of dollars owed to I…

Gas Turbine

Caterpillar China Tianjin Ltd. Manufactures First Gas Engine For Oil & Gas Application

Caterpillar Oil & Gas has manufactured its first gas engine at Caterpillar China Tianjin Ltd. (CTL) for oil and gas applications. According to Caterpillar.

Oil Field

'Roadmap' Ready to Douse Assam Oil Well Fire

A 'roadmap' has been chalked out to douse Assam's oil well fire, which continues to blaze for the fourth day on Friday and has till now claimed two lives.

LNG

Liquefied Gas Tank Explosion in Russia's Kazan kills 1, Injures 3

A gas explosion at a Gazprom distribution centre in the Russian city of Kazan has killed one person and left three injured.

Market Analysis

As Energy Prices Tumble, Developing Countries Trim Subsidies

The coronavirus pandemic has sent economies into recession and reduced government revenue, so some countries are taking a politically perilous path: removing re…

Oil Price

Rosneft Launches "Denationalization" Reorganization

Russia's largest state-owned oil company Rosneft experienced its first quarterly loss in eight years.

Oil & Gas Trade

PGNiG to Supply LNG to LG Electronics in Poland

Polish oil and gas company, PGNiG, has announced a new deal to supply liquefied natural gas (LNG) to South Korean electronics manufacturer, LG Electronics.

Oil Price

Oil Drops More than 8% as Fears Over Second Wave of Coronavirus Cases Hit the Market

Oil prices dropped more than 8% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.

Crude Oil

OPEC+ Delivers 85% Compliance on Oil Output Cuts in May: S&P Global Platts Survey

OPEC and its allies slashed almost one-fifth of their crude oil production in May.