Oil

Oil & Gas Trade

Petrobras Selling Offshore Field and Blocks in Brazil

Petrobras said on Monday that these transaction were in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at…

Oil&Gas Drilling

Virginia Lawmakers Vote to Block Offshore Drilling in Rebuke to Trump Plan

Virginia lawmakers on Tuesday passed a bill to block future oil and gas development off the state's coastline, reflecting opposition to the Trump administration…

Market Analysis

UK Regulator Ofgem Launches Decarbonisation Plan

The UK Government’s Office of Gas and Electricity Markets (Ofgem) has set out its plan to bring the country’s emissions to net zero.

Oil&Gas Drilling

BP Produces First Oil from Alligin Field Off UK

Oil major BP has announced early production from the Alligin field located in the west of Shetland region, offshore the UK.

Oil & Gas Trade

Coronavirus could Push Global Oil Market into Surplus

Almaty. February 4. KazTAG - The coronavirus outbreak could curb oil demand growth if it continues to spread, leading to an extended production surplus as produ…

Oil & Gas Trade

Oil Bankruptcies Are Reaching Worrying Levels

Law firm Haynes and Boone recently released its updated Energy Bankruptcy Reports. These reports cover North American oil and gas producers, oilfield services a…

Oil & Gas Trade

OPEC+ Considers 500,000 Bpd Cut In Emergency Meeting

The OPEC+ group of producers are said to be considering deepening the cuts by another 500,000 bpd, due to depressed oil demand amid the virus outbreak, OPEC and…

LNG

Papua LNG to Advance Despite PNG Halting Talks

Papua LNG project is expected to advance with certain modifications following the halt in negotiations between the JV partners and the PNG government over P’ny…

Oil & Gas Trade

PNG Government Walks Away from Gas Talks with Exxon

According to Reuters, the government of Papua New Guinea (PNG) has ended talks with Exxon Mobil Corp. regarding a key gas project, putting plans to double gas e…

Oil & Gas Trade

OPEC and Ally Russia to Discuss Oil Price Fall After Coronavirus Epidemic

OPEC members and their ally Russia will convene a technical meeting this week to analyze oil price falls since the outbreak of a coronavirus epidemic, a source …

Oil & Gas Trade

China’s Oil Demand Drops 20%

Chinese oil demand has dropped by about three million barrels a day, or 20 per cent of total consumption, as the coronavirus squeezes the economy.

Oil & Gas Trade

Kuwait and Saudi Arabia Start Work to Resume Oil Output from Khafji – Sources

Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with ini…

LNG

Nigeria Inks Major LNG Deals with Global Oil Giants

Nigeria has signed a major gas expansion deal, a much-needed collaboration with oil majors that Nigeria LNG said would boost its liquefied natural gas output by…

Oil & Gas Trade

South Sudan Welcomes Russian Firms To Its Oil, Gas Sector

South Sudan believes that Russian companies can help it to develop its oil, natural gas, and refining industries, the foreign minister of the small African oil …

Oil & Gas Trade

U.S. Lifts Iran Sanctions on One Unit of Chinese Shipping Giant COSCO

The U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks w…