Trade

Oil & Gas Trade

PNG Government Walks Away from Gas Talks with Exxon

According to Reuters, the government of Papua New Guinea (PNG) has ended talks with Exxon Mobil Corp. regarding a key gas project, putting plans to double gas e…

Oil & Gas Trade

OPEC and Ally Russia to Discuss Oil Price Fall After Coronavirus Epidemic

OPEC members and their ally Russia will convene a technical meeting this week to analyze oil price falls since the outbreak of a coronavirus epidemic, a source …

Oil & Gas Trade

China’s Oil Demand Drops 20%

Chinese oil demand has dropped by about three million barrels a day, or 20 per cent of total consumption, as the coronavirus squeezes the economy.

Oil & Gas Trade

Kuwait and Saudi Arabia Start Work to Resume Oil Output from Khafji – Sources

Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with ini…

Oil & Gas Trade

South Sudan Welcomes Russian Firms To Its Oil, Gas Sector

South Sudan believes that Russian companies can help it to develop its oil, natural gas, and refining industries, the foreign minister of the small African oil …

Oil & Gas Trade

U.S. Lifts Iran Sanctions on One Unit of Chinese Shipping Giant COSCO

The U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks w…

Oil & Gas Trade

Libya’s Oil Chief Denounces Port Blockades As Crude Output Plummets

Blockades of Libya’s export terminals risk cutting off virtually all of the OPEC member’s 1.2 million barrels per day in crude oil exports, warned the chairma…

Oil & Gas Trade

Libya Says Oil Output May Almost Fully Halt Within Days

Libya’s oil output could be days from coming to a complete halt as conflict in the OPEC nation puts the country’s most vital industry at risk, the nation’s t…

U.S. Extends Clampdown on Iran With Sanctions on Energy Firms

The U.S. sanctioned four companies that it says have traded hundreds of millions of dollars worth of Iranian petroleum and petrochemicals in its latest effort …

Oil & Gas Trade

Oil Falls Below $61, Heading for Weekly Loss on China Virus Concerns

Oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread.

Oil & Gas Trade

Crude Oil Jumps on Libya Export Blockage, Iraq Disruptions

Oil gained in Asian trading Monday following supply disruptions and political instability in key producers Libya and Iraq.

Oil & Gas Trade

Eastern Med Nations Square Off in Blocs for Natural Gas Supply

Turmoil over energy issues in the Eastern Mediterranean is growing as countries form blocs to supply natural gas to the markets of Europe.

Oil & Gas Trade

Guyana Officially Becomes Oil Exporter

The world’s newest oil frontier, Guyana, has officially shipped its very first batch of crude oil on Monday, according to TankerTrackers.com—a major oil-first…

China Changes Policy on Foreign Oil Operators

The policy of China on foreign oil and gas operators is about to change. China will allow private and foreign firms to explore its domestic oil and gas resource…

Crude

Pipeline Closure Risks Taking Nearly all Libya's Oil Offline

Two major oilfields in southwest Libya began shutting down on Sunday after forces loyal to Khalifa Haftar closed a pipeline, potentially reducing national outpu…