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OPEC+ Set To Continue With 400,000 Bpd Production Increase
The OPEC+ group is expected to decide next week whether it should continue unwinding the oil production cuts by another 400,000 barrels per day in March
OPEC’s Shrinking Capacity Could Send Oil Above $100
The oil market is quickly realizing that many OPEC producers may not have the capacity to boost output much further.
Russia’s Oil Output Could Peak In 2023
There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow.
Opec+ Quota Gap Widens
Opec+ crude production increased last month but fell short of the 400,000 b/d agreed rise in quotas, as several members struggled to keep pace.
OPEC Targeting Oil Prices Below $100, Oman’s Oil Minister Says
OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,…
Saudi Arabia Cuts Oil Prices For Asia In February
Saudi Arabia cut the prices of all the crude grades it will be selling to Asia in February to the lowest premium to regional benchmarks in three months, amid th…
The Hydrogen Stream: JinkoSolar to Develop Solar-to-Hydrogen Plants
China-based JinkoSolar, currently the world's largest solar panel manufacturer, has signed a strategic cooperation agreement with China’s petroleum giant Sinop…
APA, Sinopec to Recover $900MM of “Backlogged Costs” in Egyptian Project
APA Corp. and its Chinese partner in an Egyptian oil project will recover almost $900 million in prior investments under a new drilling contract with the North …
China, Russia forge Close Ties in Energy Cooperation Under BRI: Sinopec Report
China’s oil giant Sinopec on Tuesday released a report about the company’s participation and growth in Russia which deepens ties with China on energy cooperat…
Solar Power Plant
China, Russia Forge Close Ties in Energy Cooperation Under BRI: Sinopec Report
Paniolo Power Company, a subsidiary of Parker Ranch, and Innergex Renewable Energy are developing a 30-MW solar project on the main island of Hawaii.
Cummins and Sinopec Officially Launch Joint Venture to Produce Green Hydrogen Technologies in China
Cummins Inc. and China Petrochemical Corporation announced the formation of a 50:50 joint venture — Cummins Enze Hydrogen Technology Co., Ltd.
Libya Considers Bonuses for Oil Companies to Boost Crude Output
Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member t…
Global Oil Supply Set to Outpace Demand Amid Higher Production, IEA Says
The surge in new Covid cases is expected to 'temporarily slow' but not upend the recovery in demand
OPEC+ Undershoots Oil Production Target Again
The OPEC+ group delivered the 400,000-bpd production increase in November, but it was still more than half a million barrels per day short of its overall oil pr…
Opec Revises Higher Call on Its Own Crude in 2021-22
Opec has revised higher the 2021 and 2022 forecast call on its own members crude as it increased oil demand expectations for both years, saying it expects the C…