Oil product

OPEC

OPEC+ Discussing Gradual Oil Output Rise from August

The talks mean that OPEC and Russia are likely to find common ground again on oil production policy

Oil Field

Bitcoin Fracking Turns Waste Gas to Digital Gold in Bakken Oil Field

Natural gas produced as a byproduct in Bakken oil production is often flared as waste. Near Sidney, Montana, one company is converting it to cryptocurrency inst…

Crude Oil

Lundin Energy Boasts Carbon Neutral Oil Production

Lundin Energy, a minority partner of Equinor in the giant Norwegian oilfield Johan Sverdrup, said on Wednesday that all future barrels of it would sell from Wes…

Crude Oil

Iran Projects 90 Days to Hit 4 million Barrels of Daily Oil Output Once Sanctions are lifted

Iran plans to restore the bulk of its crude oil production within one month of the easing of U.S. sanctions if world powers manage to broker the revival of the …

OPEC

Russia Claims Its Compliance With OPEC+ Cuts Was Almost 100% In May

Russia was close to complying 100 percent with its oil production quota under the OPEC+ deal in May

Crude Oil

Iran Claims Its Oil Production Could Jump To 6.5 Million Bpd

Iran can boost its crude oil production to as much as 6.5 million barrels per day when the U.S. sanctions on its oil industry are lifted, Iranian Oil Minister B…

Oil Exploration

China Makes Headway in Construction of New Offshore Oil Platform

The float-over installation of the Lufeng 14-4 central platform, China's largest independently designed and built offshore crude oil production platform, has be…

Crude Oil

S Korea's SK Energy to Limit Q2 Oil Product Output Amid Fragile Asian Demand

Transportation fuels -- including gasoline, diesel and jet fuel -- saw their refining margins improve sharply from 2020 levels amid a pick up in mobility, but S…

Oil & Gas Supply

SOCAR, Rosneft Tie-up on Fuel Supplies to Ukraine, Other Countries

Azerbaijan's state energy company SOCAR and Russia's oil and gas giant Rosneft have signed a deal to supply oil products and liquefied petroleum gas to Ukraine …

OPEC

OPEC’s Oil Exports Are Surging By 1 Million Bpd In May

OPEC’s oil exports have jumped by 1 million barrels per day so far in May, while the OPEC+ group started easing the production cuts by 350,000 bpd this month, …

Crude Oil

China April Crude Oil Output Up 3.4 pct on yr

China's April domestic crude oil production rose 3.4 percent on year to 16.41 million tonnes.

Oil & Gas Trade

Yemen Takes First Batch of Saudi Oil Products at Aden

The first shipment of Saudi oil products exported to Yemen as part of a grant agreed with the internationally recognized government there arrived at the Yemeni …

Crude Oil

U.S. Energy Production Saw Steepest Drop On Record In 2020

Due to economic responses to the pandemic, U.S. energy production dropped by 5 percent last year, marking the steepest annual decline on record.

Crude Oil

BHP Produces First Oil from Ruby Project

Oil and gas company BHP has produced first oil production from the Ruby project, which is located offshore Trinidad and Tobago.

Crude Oil

OPEC+ Unlikely To Drastically Change Oil Pact Next Week

The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months.