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OPEC+ Could Hold Its Next Meeting This Week

OPEC+ Could Hold Its Next Meeting This Week

The next OPEC+ meeting may…

Can Yemen’s Oil Industry Make A Comeback?

Can Yemen’s Oil Industry Make A Comeback?

As opposed to Syria whose…

News

Gulf Keystone Petroleum Gave Away Crude Oil For Free In April

Gulf Keystone Petroleum Gave Away Crude Oil For Free In April

May 28, 2020 at 18:02 | Julianne Geiger

If you were wondering how those negative crude oil prices in April played out in the physical market, now we know. As the price of WTI fell below the $0…

Russia’s Top Oil Producer Is Struggling With Output Cuts

Russia’s Top Oil Producer Is Struggling With Output Cuts

May 28, 2020 at 16:33 | Tsvetana Paraskova

Russia’s largest oil producer, Rosneft, is struggling to supply its long-term buyers with crude oil as it has to cut output due to the OPEC+ deal and will find it…

French Navy Stops Tanker From Loading Oil In Libya

French Navy Stops Tanker From Loading Oil In Libya

May 28, 2020 at 14:54 | Tsvetana Paraskova

A frigate of the French Navy has prevented a tanker from loading refined oil products at a Libyan port as part of a sale to an UAE-registered company, Bloomberg

Developing The Low-Carbon Trade Route Of The Future

Developing The Low-Carbon Trade Route Of The Future

May 28, 2020 at 14:13 | MINING.com

A report published by market analyst Lux Research states that companies looking to decarbonize their energy trade routes have about 10 years to do so. According to Lux, by 2030, imported…

SUV Sales Exceed 40% Of Global Car Sales For The First Time

SUV Sales Exceed 40% Of Global Car Sales For The First Time

May 28, 2020 at 13:17 | Tsvetana Paraskova

Sales of SUVs have been continuously rising not only in America but also around the world, to the point of exceeding 40 percent of all new car sales worldwide in…

U.S. Renewable Energy Consumption Beats Coal For First Time In 130 Years

U.S. Renewable Energy Consumption Beats Coal For First Time In 130 Years

May 28, 2020 at 12:42 | Tsvetana Paraskova

The rise of renewables and declining coal electricity generation resulted in energy consumption from renewables in the United States surpassing in 2019 coal consumption for the first time since 1885,…

Alberta Cuts 1 Million Bpd In Oil Production

Alberta Cuts 1 Million Bpd In Oil Production

May 28, 2020 at 11:40 | Irina Slav

Alberta has cut oil production by 1 million bpd so far, the province’s Energy Minister, Sonya Savage, has told OPEC, according to Reuters. “The Minister stated there is currently no point…

Libya's Oil Blockade Has Cost The Country Over $5 Billion

Libya's Oil Blockade Has Cost The Country Over $5 Billion

May 28, 2020 at 10:00 | Irina Slav

Libya’s crude oil exports have shrunk by 92 percent and the National Oil Corporation has lost some $5 billion since the start of the oil blockade early this…

Russia Ready To Boost Production As Soon As OPEC+ Deal Ends

Russia Ready To Boost Production As Soon As OPEC+ Deal Ends

May 28, 2020 at 09:18 | Tsvetana Paraskova

Russia’s government approved on Tuesday a plan to have new oil wells drilled this year and next for 2022 production, the office of First Deputy Prime Minister Andrey Belousov

Energy Executives See Big Payday Despite Oil Crash

Energy Executives See Big Payday Despite Oil Crash

May 27, 2020 at 19:42 | Michael Kern

The coronavirus pandemic has shaken Big Oil to its core. Many companies have lost over a quarter of their value since the crisis began, and with little hope…

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