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India COVID Crisis Could Slow Global Oil Demand Rebound

India COVID Crisis Could Slow Global Oil Demand Rebound

India’s grim record-setting COVID wave…

Canada’s Oil Patch Is Preparing For A Production Hike

Canada’s Oil Patch Is Preparing For A Production Hike

Most Canadian oil producers seem…

Energy / Crude Oil

The UK Prepares To Boost North Sea Drilling

Mar 25, 2021 at 15:27 | Felicity Bradstock

The U.K. has announced a ‘Landmark Deal’ to drill new wells in the North Sea securing the future of U.K. oil and saving thousands of jobs while calling…

China Overtakes U.S. As World’s Largest Refiner

Mar 25, 2021 at 12:07 | Felicity Bradstock

As the shift in oil demand from Covid-19 turned the tables of regional levels of fuel production and exports, China succeeded in overtaking the USA as the world’s…

OPEC+ Will Keep A Lid On Oil Production

Mar 24, 2021 at 17:50 | Julianne Geiger

OPEC+ will likely decide to keep oil production essentially steady for another month, according to four Reuters sources. Saudi Arabia and the UAE have both spoke out in favor of…

Pandemic Puts Saudi-Kuwaiti Oil Plans On Ice

Mar 24, 2021 at 15:08 | Tsvetana Paraskova

The market shock from the pandemic and the resulting crash in oil prices expectedly dragged down the net profit of the world’s biggest oil company and largest oil exporter,…

Canadian Oil Lobby Declares War On Netflix

Mar 24, 2021 at 11:03 | Julianne Geiger

If you are the parent of a school-aged child, particularly during these online learning environment times, you’ve probably heard your fair share about the evils of fossil fuels and the…

Oil Slips On Small Crude Inventory Build

Mar 24, 2021 at 09:41 | Irina Slav

U.S. crude oil inventories went up by 1.9 million barrels in the week to March 19, the Energy Information reported, adding that at 502.7 million barrels, inventories were 6…

The U.S. Imports Record Share Of Russian Oil Despite Tensions

Mar 24, 2021 at 08:58 | Tsvetana Paraskova

U.S. refiners have turned to Russian oil and petroleum products to fill the gap that sanctioned Venezuelan crude and drastically reduced OPEC shipments have left in U.S. imports, despite the…

Why Aramco Isn’t Rushing To Boost Its Oil Production

Mar 23, 2021 at 16:17 | Irina Slav

Saudi Aramco is in no hurry to expand its oil production capacity to 13 million bpd as it said it would last year just as the pandemic was beginning to…

Signs Of Strong Oil Demand Recovery Are Emerging

Mar 22, 2021 at 12:47 | Tsvetana Paraskova

Signs have started to emerge in recent weeks that oil demand is recovering and could rebound to stronger levels in the second half of this year. The oil market and…

Aramco’s 2020 Profits Fell By 44%

Mar 22, 2021 at 09:10 | Irina Slav

Saudi Aramco reported a net profit of $49 billion for 2020, down 44 percent on the year but still a positive figure despite the pandemic that plunged some major…

Can Venezuela’s Oil Industry Come Back From The Dead?

Mar 20, 2021 at 08:59 | Felicity Bradstock

Smaller players are eager to recommence talks with Venezuela over its crude oil opportunities before the majors start their attack. The eventual easing of sanctions on Venezuelan oil…

U.S. Warns China Against Buying Iranian Crude Oil

Mar 19, 2021 at 11:12 | Irina Slav

The United States has warned China that it will not turn a blind eye to rising Iranian oil exports to Chinese ports, the Financial Times reported, citing a senior…

Saudi Arabia Boosted Crude Oil Exports In January

Mar 19, 2021 at 09:02 | Tsvetana Paraskova

The world’s largest oil exporter, Saudi Arabia, increased its crude oil exports to 6.582 million barrels per day (bpd) in January 2021, up from 6.495 million bpd in December 2020,…

Oil Traders Made A Killing Last Year

Mar 18, 2021 at 18:06 | Alex Kimani

Retail investors with long positions in crude oil markets had to endure one of the most volatile years on record in 2020 thanks to the Saudi-Russia oil price war, oil…

Heavy-Handed Government Intervention To Hurt Brazil’s Oil Boom

Mar 18, 2021 at 16:55 | Matthew Smith

A spat over fuel prices last month saw Brazil’s President Jair Bolsonaro replace the CEO of national oil company Petrobras Roberto Castello Branco, who is popular among investors with…

India Throws The Oil Tanker Industry A Lifeline

Mar 18, 2021 at 15:08 | Tsvetana Paraskova

India’s growing demand for oil and its plans to rely less on crude from its biggest supply region, the Middle East, is set to support demand for oil tankers traveling…

IEA: Asia To Account For 90% Of Global Oil Demand Growth Through 2025

Mar 18, 2021 at 14:02 | Felicity Bradstock

Despite speculation that oil demand peaked in 2019, before the global pandemic hit the industry hard, a new IEA report suggests this assumption may have been overstated as…

Rarely-Used Recovery Method Could Unlock Billions Of Barrels In Alaska

Mar 18, 2021 at 13:07 | Tsvetana Paraskova

Early findings in an ongoing four-year study of enhanced oil recovery of heavy oil in Alaska’s North Slope have shown promising results that could potentially unlock billions of barrels of…

Exxon's Flagship Guyana Project Reaches Full Capacity

Mar 18, 2021 at 12:03 | Tsvetana Paraskova

The Liza Phase 1 offshore project—Guyana’s first oil-producing project led by ExxonMobil—has reached its full planned production capacity of some 130,000 barrels per day (bpd), Guyana’s President Irfaan Ali…

Big Oil’s Hottest Prospects In 2021

Mar 17, 2021 at 17:57 | Viktor Katona

Judging by the first 3 months of 2021 it seems that this year has gone off into a wrong start, instead of economic rebounds we face a third rendition of…

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