Oil product

Crude Oil

OPEC+ Meetings Postponed Until Mid-June

The OPEC+ group has postponed its technical and monitoring meetings until the middle of June.

Crude Oil

Indonesia Sees Product Demand Up 160,000 b/d by 2026

Indonesia expects domestic oil product demand to increase by 12pc or around 160,000 b/d by 2026, but an expansion of refinery capacity should eliminate the need…

Oil Field

KrisEnergy Suspended Production at its Wassana Field Because of Oil Prices

KrisEnergy's operating Wassana field has been suspended pending further notice.

Africa Energy

Libya Oil Production Comes to Halt as Economy Affected

The civil war enforced by the warlord Khalifa Haftar in Libya has brought oil production and exports to a grinding halt, creating financial strain on the UN-rec…

Oil Field

Kazakhstan to Build Gas Processing Plant at Kashagan

Kazakhstan intends to build a gas processing plant at oilfield in west of Kazakhstan – Kashagan, Minister of Energy Nurlan Nogayev told a briefing on May 27.

Crude Oil

Surprise Boost for Nigeria's Economy Comes with Higher Oil Flows

Nigerian economic growth beat estimates in the first quarter as oil production rose to the highest in at least four years.

Oil Price

Canada Energy Minister: Oil Price Recovery will be Gradual

In an interview with Energy Intelligence, Sonya Savage, Energy Minister of Canada's hydrocarbon-rich province of Alberta said, the oil price recovery will be gr…

Oil & Gas Trade

Lukoil´s 1Q Hydrocarbon Production Fell

In the 1st quarter of 2020 Lukoil's daily hydrocarbon production (excluding the West Qurna-2 project) totaled 2,328 thousand boe per day, which is 2.1% lower ye…

Oil & Gas Trade

Saudi Arabia Announces Additional Voluntary Reduction of Crude Oil Production

Saudi newspapers highlighted in their editorials today a number of issues at local, regional, and international arenas.

Crude Oil

Saudi Arabia to Cut June's Oil Production

Saudi Arabia's Energy Ministry has directed the national oil company Aramco to further reduce crude oil production for June by an additional 1 million barrels p…

Crude Oil

UAE Making Even Bigger Cuts To Oil Production Next Month

The United Arab Emirates will cut even more oil production in June, UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei announced th…

Crude Oil

Russia Predicts U.S. Oil Output Will Drop By 2-3 Million Bpd

U.S. oil production could decline this year by 2 million bpd-3 million bpd, due to limited storage capacity and low oil prices, Russia’s Deputy Energy Minister…

Oil & Gas Trade

Venezuela Oil Exports Climb As OPEC Agreement Kicks In

​While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil expo…

Oil Shale

Exxon, Chevron Slam Brakes on Shale as Oil Demand Tumbles

​Exxon Mobil Corp and Chevron Corp are slamming the brakes on U.S. shale oil production at a time when crude prices and fuel demand have plunged due to global …

Covid-19 Set To Wipe Out $1 Trillion In Oil Production Revenues

Before the pandemic, Rystad Energy was forecasting annual E&P revenues at US$2.35 trillion this year and US$2.52 trillion in 2021.