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Opec
Crude Oil
Opec's ECB Mulls 66mn bl SPR Release in Jan-Feb
An Opec advisory committee has been considering the possibility that as much as 66mn bl could be released from the strategic reserves of key oil-consuming count…
Natural Gas
China's Sinopec Raises Daily Gas Supply by 10 million cu m to Cope with Cold Snap
Chinese state-owned oil and gas major Sinopec has increased daily natural gas supply to the north of the country by more than 10 million cubic meters in a bid t…
Energy Technology
China: New Sinopec Downstream Technology Process Developed
China's Sinopec has developed a steam-cracking technology to convert oil directly into high-demand petrochemical products such as ethylene and propylene, cuttin…
Energy Investment
TotalEnergies, Eni to Invest billions in Libyan Energy Projects
France’s TotalEnergies SE and Italy’s SpA said they were ready to invest billions of dollars in Libya as the OPEC nation emerges from a decade of conflict and…
Crude Oil
OPEC Considers Lowering Production to Account for Oil Reserve Releases
OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a co-ordinated release of the…
Oil Field
Iran, Azerbaijan Eye Joint Development of Oil and Gas Fields in Caspian Sea
Iran and Azerbaijan, members of the OPEC+ alliance, are looking at finalizing "soon" a number of energy deals, including joint development of an oil field in th…
Crude Oil
OPEC+ Pumped Less Oil Than Agreed In October
The OPEC+ group’s compliance rate with the oil production cuts rose to 116 percent in October from 115 percent in September,
Crude Oil
Opec+ Brought Stability to Oil Markets Through Its Policies, Saudi Energy Minister Says
The group delivered ‘more sustainability and more predictability’ to energy markets
LNG
China: Sinopec Signs Long Term LNG Contract With Venture Global
Sinopec and Venture Global LNG have announced the signing of two 20-year Sales and Purchase Agreements for the supply of a total of 4 million tonnes per annum o…
Crude Oil
OPEC Cuts 2021 Global Oil Demand Forecast Again
OPEC revised down its forecast by 160,000 bpd
OPEC
Opec Maintains 2022 Outlook and Expects Oil Demand to Surge Above Pre-Covid Levels
Based in Vienna, the group trimmed its outlook for 2021 owing to slower-than-anticipated demand from China and India
Russian Federation
Russian Oil And Gas Discoveries Plunge To Five-Year Low
Russia’s oil and gas discoveries fell to the lowest in five years in the first half of 2021, after last year’s crisis resulted in steep cuts in capital expend…
Hydrogen Project
China's Sinopec to Launch Qingdao Hydrogen Facility
Chinese largest oil refiner state-controlled Sinopec is on track to launch a production facility for hydrogen used in hydrogen fuel cells at the end of December…
Oil Price
Opec+ Production Shortfall Widened in October
The Opec+ coalition added 230,000 b/d to collective crude output last month, meaning its production shortfall widened to 690,000 b/d at a time when consuming co…
Crude Oil
Biden “Looking at” Tapping Strategic Oil Reserve, Energy Secretary Says
U.S. President Joe Biden “is looking at” a potential release from the Strategic Petroleum Reserve to bring down gasoline prices after OPEC+ rejected his reque…
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