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Oil & Gas Supply
OPEC Chief Warns of Global Oil Shortage Due to Sanctions on Russia
The head of the Organization of Petroleum Exporting Countries (OPEC) warned Tuesday that the world cannot replace Russia's share of oil exports, calling for en…
Oil Price
Sinopec Keeps Refinery Operations 'Fairly High' to Ensure Fuel Supply
China's Sinopec is running its refineries at "fairly high" operational rates, the firm said, seeking to ensure steady fuel supply in the country amid tight glob…
SINOPEC
Saudi Aramco Signs Agreement with China’s Sinopec for Potential Downstream Collaboration
World’s largest oil exporting company aims to expand its operations in China.
Oil Shale
OPEC Meet with U.S. Shale Executives at U.S. Energy Conference as Oil Prices Skyrocket
Officials from the Organization of the Petroleum Exporting Countries on Monday met with executives of several top U.S. shale oil companies at a top U.S. energy …
Oil Price
OPEC Has No Control over Events Roiling Global Oil Markets
OPEC has no control over the events that have led to the run up in global oil prices and there is not enough capacity worldwide to compensate for the loss of Ru…
Oil Price
Unmoved by Surging Oil Prices, OPEC+ Delegates Say Another Modest Output Hike on Tap
OPEC and its allies, including Russia, remain on track to approve a 400,000 b/d production hike for April, according to delegates, insisting that no oil supply …
Oil & Gas Supply
OPEC+ Makes Modest Supply Hike as Russia Turmoil Lifts Price
OPEC and its allies agreed another modest revival in supplies for April at a low-key meeting that was overshadowed by the market turmoil unleashed by Russia’s …
Oil Price
OPEC+ Faces Reckoning on Russia Despite Efforts to Ignore Crisis
OPEC+ is doing its best to ignore the war started by one of its leading members, but it may not be able to manage it for much longer.
Oil Price
OPEC Chief: Oil Industry “Under Siege”
OPEC Secretary General Mohammad Barkindo: oil industry is under siege by climate campaigners.
OPEC
Saudi Crown Prince Says Kingdom Still Committed to OPEC+ Oil Agreement with Russia
Saudi Arabia remains committed to OPEC+ agreement, Crown Prince Mohammed bin Salman told French President Emmanuel Macron Feb. 27, in an endorsement for the blo…
OPEC+ Trims Forecast for 2022 Oil Market Surplus in Latest Data
OPEC+ revised down its forecast for the 2022 oil market surplus by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a tec…
China
China's Major Shale Gas Field Adds 19 New Wells
The Fuling shale gas field in southwest China's Chongqing Municipality has put 19 new wells into operation this year, increasing the daily gas output by 1.06 mi…
Oil Price
Arab Oil Producers Say OPEC+ Should Stick to Current Output Agreement
OPEC+ should stick to its current agreement to add 400,000 barrels of oil per day each month to output, ministers of Arab oil-producing countries said on Sunday…
Natural Gas
GECF participates in 12th IEA-IEF-OPEC Symposium on Energy Outlooks
With the world deeply mired in an uncertain environment, lack of investment in gas will add to the range of uncertainty surrounding the energy transition, said …
Oil Price
Opec+ Supply Shortfall Could Push Oil Prices Higher, IEA Says
An oil supply shortfall from Opec+ group of countries may lead to a tighter market and push prices higher, according to the International Energy Agency.
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