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Groundhog Day for OPEC+

Groundhog Day for OPEC+

Ahead of a critical meeting…

News

Pro-Business Conservative Wins Presidential Election In Oil Producer Ecuador

Pro-Business Conservative Wins Presidential Election In Oil Producer Ecuador

Apr 13, 2021 at 10:27 | Tsvetana Paraskova

Conservative candidate Guillermo Lasso, 65, won the presidential election in South American oil producer Ecuador, and said he would propose new oil deals to…

Japan To Pour 1 Million Tons Of Contaminated Fukushima Water Into Ocean

Japan To Pour 1 Million Tons Of Contaminated Fukushima Water Into Ocean

Apr 13, 2021 at 08:28 | Charles Kennedy

Japan will release some 1 million tons of contaminated water from the Fukushima nuclear power plant into the ocean, the country's government said amid strong opposition from Japan's neighbors. The…

U.S. Oil Production Still 2 Million Bpd Under Pre-Pandemic Levels

U.S. Oil Production Still 2 Million Bpd Under Pre-Pandemic Levels

Apr 12, 2021 at 17:54 | Julianne Geiger

The EIA might be forecasting that the Permian Basin’s oil production will be rebounding soon, but overall, today’s U.S. oil production is still 2 million barrels per day below the…

Big Oil’s Reserves Have Dropped By 25% Since 2015

Big Oil’s Reserves Have Dropped By 25% Since 2015

Apr 12, 2021 at 17:12 | Tsvetana Paraskova

The major international oil companies have seen their average crude reserves drop by 25 percent over the past five years, which could be a challenge for Big Oil’s production and…

Russia Raids Home Of Journalist For Investigating Prominent Oil CEO

Russia Raids Home Of Journalist For Investigating Prominent Oil CEO

Apr 12, 2021 at 12:47 | Tsvetana Paraskova

Russia’s security services raided the home of investigative journalist Roman Anin and took him in for questioning last week for what his lawyer says is connected to a past…

Aramco To Sell Pipeline Stake To EIG For $12 Billion

Aramco To Sell Pipeline Stake To EIG For $12 Billion

Apr 12, 2021 at 10:43 | Irina Slav

Saudi Aramco has reached an agreement with a consortium led by U.S. EIG Global Energy Partners to sell it a 49-percent stake in Aramco Oil Pipelines Co. Aramco Oil Pipelines…

Uganda, Tanzania Seal $3.5-Bln Oil Pipeline Deal

Uganda, Tanzania Seal $3.5-Bln Oil Pipeline Deal

Apr 12, 2021 at 09:27 | Irina Slav

Uganda, Tanzania, and two oil majors inked a deal for the construction of a $3.5-billion pipeline that will carry Ugandan oil to the Tanzanian coast, from where it will reach…

North Dakota Oil Pipeline Prevails Over Environmentalists

North Dakota Oil Pipeline Prevails Over Environmentalists

Apr 09, 2021 at 16:48 | Julianne Geiger

The Dakota Access Pipeline will not be ordered to shut down while pending review, government lawyers told U.S. District Judge Brian Boasberg on Friday, much to the ire of environmentalists…

Iran Says It Will Return To Nuclear Compliance After U.S. Lifts Oil Sanctions

Iran Says It Will Return To Nuclear Compliance After U.S. Lifts Oil Sanctions

Apr 09, 2021 at 16:44 | Julianne Geiger

Iran insists that it will only start complying with its obligations under the nuclear deal after the United States removes all the sanctions on the Islamic Republic, Iran’s Supreme Leader,…

China Sets World Record For Deep-Sea Drilling In Disputed South China Sea

China Sets World Record For Deep-Sea Drilling In Disputed South China Sea

Apr 09, 2021 at 14:22 | Tsvetana Paraskova

China has set a world record for deep-sea drilling in the South China Sea, Chinese state media reported, while tensions in the disputed area are rising. According to the

Total’s $5-Billion Uganda Project Set For Imminent Go-Ahead

Total’s $5-Billion Uganda Project Set For Imminent Go-Ahead

Apr 09, 2021 at 10:13 | Tsvetana Paraskova

The final investment decision on a US$5.1-billion project involving French oil giant Total in Uganda is expected to be announced as soon as on Sunday, Bloomberg quoted Uganda National…

Democrats Propose $8 Billion Bill To Clean Up Abandoned Wells

Democrats Propose $8 Billion Bill To Clean Up Abandoned Wells

Apr 09, 2021 at 09:03 | Charles Kennedy

U.S. Representative Teresa Leger Fernandez has introduced a bill proposing $8 billion to be spent on plugging and cleaning up abandoned oil and gas wells in a bid to create…

Libya’s Largest Oilfield Could See Exports Interrupted

Libya’s Largest Oilfield Could See Exports Interrupted

Apr 08, 2021 at 16:50 | Charles Kennedy

The largest oilfield in Libya, the 300,000-bpd Sharara field, could see crude oil exports from it disrupted if members of the Petroleum Facilities Guard (PFG) follow through with their threat…

Smaller Oil Tanker Rates Recover After OPEC+ Agrees To Ease Cuts

Smaller Oil Tanker Rates Recover After OPEC+ Agrees To Ease Cuts

Apr 08, 2021 at 16:11 | Tsvetana Paraskova

Daily rates for smaller oil tankers have started to recover after OPEC+ and Saudi Arabia announced they would gradually add around 2 million barrels per day (bpd) of crude production…

U.S. LNG Exports Fall From Record Highs

U.S. LNG Exports Fall From Record Highs

Apr 08, 2021 at 15:56 | Tsvetana Paraskova

Maintenance at a Cheniere Energy facility was set to drag natural gas deliveries to U.S. liquefied natural gas (LNG) export facilities on Thursday to the lowest level since the end…

Oman's State-owned Oil Company QQ Mulls IPO

Oman's State-owned Oil Company QQ Mulls IPO

Apr 08, 2021 at 11:49 | Julianne Geiger

Oman is looking at several options to plug the holes in its budget, according to anonymous sources that disclosed the information to Bloomberg—and it’s taking a hard look at state-energy…

Biden’s Plan Looks To Eliminate $35 Billion Fossil Fuel Subsidies  

Biden’s Plan Looks To Eliminate $35 Billion Fossil Fuel Subsidies  

Apr 08, 2021 at 10:36 | Tsvetana Paraskova

The $2-trillion infrastructure and tax plan of U.S. President Joe Biden proposes to eliminate tax preferences and implicit subsidies for fossil fuels that would boost government receipts by more than…

M&A In U.S. Oil And Gas To Hit $3.4 Billion In Q1 2021

M&A In U.S. Oil And Gas To Hit $3.4 Billion In Q1 2021

Apr 08, 2021 at 09:31 | Irina Slav

Mergers and acquisitions in the upstream segment of the U.S. oil and gas industry hit $3.4 billion in the first quarter of the year, Reuters has reported, citing data…

U.S. Shale Giant Thanks OPEC+ For ‘Brilliant’ Market Rebalancing Efforts

U.S. Shale Giant Thanks OPEC+ For ‘Brilliant’ Market Rebalancing Efforts

Apr 08, 2021 at 08:48 | Tsvetana Paraskova

OPEC+ has been doing a brilliant job in managing supply and demand balances in the pandemic and every American oil producer appreciates the alliance’s efforts, Occidental’s chief executive Vicki Hollub…

China Started More Coal Plants Than The Entire World Retired In 2020

China Started More Coal Plants Than The Entire World Retired In 2020

Apr 07, 2021 at 14:48 | Tsvetana Paraskova

Despite commitments to become a net-zero emission economy by 2060, China—the world’s biggest carbon emitter—commissioned more coal-fired capacity last year than the rest of the world retired, a new report…

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