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Oil produce
Oil Price
OPEC Warns of ‘Immense Challenges’ as Talks on Oil Production Cuts Continue
OPEC warned on Monday that the “immense challenges” caused by the Covid-19 pandemic were likely to persist into 2021, as the group of oil producers continues …
Oil & Gas Trade
India Allows UAE's ADNOC to Export Oil from Strategic Reserve
Allowing ADNOC to export its oil mirrors a model adopted by countries such as Japan and South Korea which allow oil producers to re-export crude storage. India …
Crude Oil
Russian Oil Companies Plan Significant Drilling Cuts For 2021
Russian oil producers who have already reduced their drilling activity by a third this year may cut it further by 20 percent.
Oil & Gas Trade
OPEC+ to Stick with Plans to Ease Output Cuts, Says Russia's Novak
Russian Energy Minister Alexander Novak on Wednesday said that the OPEC+ group of leading oil producers will start easing output curbs as planned despite a glob…
Crude Oil
Gazprom Neft Sees Full Oil Demand Recovery By The End Of 2021
Russia’s oil producer Gazprom Neft believes that global oil demand will return to its pre-pandemic levels in the second half of 2021.
Market Analysis
ConocoPhillips Sees Global Oil Demand Returning, Executive Says
U.S. oil producer ConocoPhillips COP.N sees global demand returning to 100 million barrels per day and growing from there, with oil an "important part of the en…
Oil&Gas Drilling
U.S. Wants Bankrupt Offshore Drillers To Pick Up The Tab For Abandoned Wells
The U.S. Department of the Interior is proposing a regulation that will not allow oil producers to avoid picking up their offshore well decommissioning tab when…
Oil Price
Global Effort Begins Again to Stabilise Oil Prices, OPEC+ Meet May be Called in Oct
A bigger global effort to stabilise oil prices involving all major oil producers including Russia is again on the cards to see that the current crisis does not …
Crude Oil
U.S Keeps Top Crude Oil Producer Status
Despite oil production curtailments earlier this year that are not fully back online, the United States maintained its global status as the leading supplier of …
Crude Oil
Angola Aims to Ramp up Oil Production
Angola, Africa’s second-largest oil producer after Nigeria, will need foreign and government investments to discover up to 57 billion barrels of crude oil by 2…
United States
Another Permian Oil Producer Files For Bankruptcy
Permian oil producer Rosehill Resources said on Monday that it had filed for bankruptcy protection, becoming the latest shale casualty of the collapse in oil pr…
Norway
How One Oil Major Excelled As Prices Crashed
When oil prices plunged to historic lows in April, the majority of oil producers, including OPEC+ nations, responded by drastically cutting production to get ri…
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…
Oil Price
Oil Price Crash Causes Major Recession In Russia
The oil price crash that Russia helped create, along with the coronavirus-driven global recession, will result in Russia’s economy shrinking this year by the m…
Crude Oil
Suriname Awaits New President, New Oil Policy
Suriname's president Desi Bouterse has conceded defeat in the emerging oil producer's 25 May parliamentary elections, two days after the country's electoral cou…
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