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Kazakhstan Supports Consensus in OPEC+ Agreement
The OPEC + countries decided to increase the supply of oil in January 2021 following a ministerial meeting of the organisation, which was held via videoconferen…
OPEC+ Working on Compromise for 2021 Oil Policy
The OPEC, Russia and their allies, a group known as OPEC+, had been widely expected to extend existing oil cuts of 7.7 million barrels per day (bpd).
Oil & Gas Trade
Brent Edges Higher as Opec+ Agrees More Moderate Production Increase
Oil prices crept up this evening after the Opec cartel and its allies agreed to a more gradual easing of production cuts next month.
Opec+ Ministerial Meeting Rescheduled to 3 December
The two-day delay would allow representatives to hold further discussions targeting a consensus on the agreement, according to one of the delegates.
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 Prices Set for Weekly Gain Ahead of OPEC+ Meeting
Oil prices were mixed on Friday but remained on course for a fourth straight week of gains ahead of an OPEC+ meeting early next week.
The OPEC Producer Looking To Sell A Stake In Its Oil Company
OPEC producer Angola plans to raise much-needed cash via selling a stake in its state oil firm Sonangol by early 2022 as the crash in oil prices—and the pandem…
Fitch Affirms Sinopec at ‘A+’; Outlook Stable
Fitch Ratings has affirmed China Petroleum & Chemical Corporation’s Long-Term Foreign- and Local-Currency Issuer Default Ratings at ‘A+’.
Repsol Sinopec Preparing for Decommissioning of UK North Sea Field
Oil and gas company Repsol Sinopec has received approval from the UK authorities for preparation work scopes plan relating to the decommissioning of the Fulmar …
Crude Oil Pares Losses After UAE Reassures on OPEC Commitment
Crude oil prices were down fractionally in early trading in New York on Thursday, paring earlier losses after the United Arab Emirates rebutted reports claiming…
World's Largest LNG Carrier Docked and Unloaded at Sinopec's LNG Terminal in Tianjin
On November 10, Q-Max Al Mafyar, the world's largest LNG carrier, smoothly docked and unloaded at Sinopec's LNG terminal in Tianjin, it is also the 100th LNG…
Hydrogen Fuel Stations
Sinopec Deploys Hydrogen Energy Industry on a Large Scale
Sinopec's large-scale deployment of hydrogen energy industry, some gas stations will be transformed into hydrogen refueling stations.
Sinopec Unloads the World's Largest LNG Carrier for the First Time
On November 10, the Q-MAX LNG carrier Almafia, which set sail from Qatar, successfully berthed at the Tianjin LNG receiving terminal wharf of Sinopec Natural Ga…
Oil & Gas Trade
Saudi Arabia and Iraq Agree to Intensify OPEC Cooperation
The ceiling compares with Iraq’s actual production of over 4 million bpd in April.
Novak Steps Down as Russian Energy Minister
Russia's long-serving energy minister Alexander Novak, who oversaw the country's participation in the Opec+ agreement, is stepping down after more than eight ye…