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Easing Inflation Sparks Bullish Sentiment in Oil Markets

Easing Inflation Sparks Bullish Sentiment in Oil Markets

Easing Inflation Sparks Bullish Sentiment…

Asian Refiners Diversify Away from Middle Eastern Oil

Asian Refiners Diversify Away from Middle Eastern Oil

Asian refiners are reducing their…

News

India’s Top Refiner Looks To Import 24 Million Barrels Of U.S. Oil

India’s Top Refiner Looks To Import 24 Million Barrels Of U.S. Oil

Jun 08, 2020 at 14:13 | Tsvetana Paraskova

Indian Oil Corporation (IOC), the country’s biggest refiner and fuel retailer, has issued a tender to import a total of up to 24 million barrels of crude oil from the…

Oil Crash Forces BP To Slash 10,000 Jobs

Oil Crash Forces BP To Slash 10,000 Jobs

Jun 08, 2020 at 10:41 | Tsvetana Paraskova

Supermajor BP will cut 10,000 jobs, or around 15 percent of its workforce, as it looks to cut costs amid the oil price crash resulting from the…

China Oil Imports Jumped To Record Levels In May

China Oil Imports Jumped To Record Levels In May

Jun 08, 2020 at 10:18 | Irina Slav

China’s crude oil imports in May jumped to the highest in history ever, at 11.34 million bpd, customs data showed, confirming an earlier report by analytics firm OilX,…

Saudi Arabia Increases Its Oil Prices By Most In Two Decades

Saudi Arabia Increases Its Oil Prices By Most In Two Decades

Jun 08, 2020 at 09:22 | Irina Slav

Saudi Arabia sharply raised its official selling prices for crude oil, removing almost completely the deep discounts it had in place to preserve its market share during the price war…

Canada Remains Biggest Energy Supplier To The U.S.

Canada Remains Biggest Energy Supplier To The U.S.

Jun 05, 2020 at 18:04 | Tsvetana Paraskova

Canada is the top energy trade partner of the United States and was the largest source of American energy imports last year, the U.S. Energy Information Administration (EIA) said…

Angola Cuts Oil-For-Debt Exports To China

Angola Cuts Oil-For-Debt Exports To China

Jun 05, 2020 at 17:56 | Tsvetana Paraskova

Angola is reducing oil shipments to China with which it pays part of its debt to its biggest creditor as the African OPEC member looks for debt relief from its…

China Begins Consolidation Of $100+ Billion Oil & Gas Pipeline Industry

China Begins Consolidation Of $100+ Billion Oil & Gas Pipeline Industry

Jun 05, 2020 at 13:34 | Tsvetana Paraskova

China has required the three biggest state-held oil corporations to transfer the management of half of their liquefied natural gas (LNG) terminals to the newly created state-controlled midstream firm, Caixin…

Gas-Flaring CO2 Emissions In Permian Set To Halve

Gas-Flaring CO2 Emissions In Permian Set To Halve

Jun 05, 2020 at 10:45 | Irina Slav

Carbon dioxide emissions resulting from gas flaring in the Permian are set to fall by one-half during the second half of this year, Rystad Energy said, citing the forced…

OPEC+ Closes In On Output Cut Extension

OPEC+ Closes In On Output Cut Extension

Jun 05, 2020 at 09:18 | Irina Slav

OPEC+ is reportedly close to agreeing on an extension of the deep production cuts it signed up for in April, after the cartel’s leaders managed to convince Iraq of the…

Russia’s Energy Minister Sees Shortage In Oil Market Next Month

Russia’s Energy Minister Sees Shortage In Oil Market Next Month

Jun 04, 2020 at 17:44 | Julianne Geiger

Russia’s Energy Minister Alexander Novak is predicting a shortage in the oil market next month, Ifax reported on Thursday. Novak said that the global oil markets could see a shortfall…

US Gulf Of Mexico More Resilient To Oil Price Crash This Time

US Gulf Of Mexico More Resilient To Oil Price Crash This Time

Jun 04, 2020 at 16:51 | Tsvetana Paraskova

The U.S. Gulf of Mexico is better prepared now to ride out the oil crisis than it was in the 2015-2016 downturn, as 82 percent of oil production has a…

Saudi Arabia Raises Import Duty To Offset Plunging Oil Revenues

Saudi Arabia Raises Import Duty To Offset Plunging Oil Revenues

Jun 04, 2020 at 14:25 | Tsvetana Paraskova

Saudi Arabia is looking to boost its non-oil revenues while its oil revenue is taking a hit in the low oil prices and is raising customs duties on hundreds…

US Senators Call For Tougher Sanctions On Nord Stream 2

US Senators Call For Tougher Sanctions On Nord Stream 2

Jun 04, 2020 at 12:34 | Tsvetana Paraskova

U.S. Senators are set to announce this week a bill to expand sanctions on the Russia-led natural gas pipeline project Nord Stream 2, Senate aides told Reuters, which has…

Court Blocks Nigerian Government From Auctioning Oilfields

Court Blocks Nigerian Government From Auctioning Oilfields

Jun 04, 2020 at 11:31 | Tsvetana Paraskova

Nigeria’s Federal High Court has ruled that the government cannot include eight oilfields in its latest oil auction to local companies because the legal status of the licenses continues…

Rosneft Sets Up New Trading Unit

Rosneft Sets Up New Trading Unit

Jun 04, 2020 at 10:34 | Irina Slav

Russia’s Rosneft has set up a new trading arm to replace the one that Washington sanctioned earlier this year for the company’s work with the Venezuelan government, unnamed sources in…

Will Exxon's Next Mega Project Get The Go Ahead?

Will Exxon's Next Mega Project Get The Go Ahead?

Jun 04, 2020 at 09:38 | Irina Slav

Exxon will likely make the final investment decision for its Mozambique LNG project next year, Reuters reports, citing the country’s National Petroleum Institute. The supermajor postponed the FID on…

Russian River Will Take Decades To Recover After Fuel Spill

Russian River Will Take Decades To Recover After Fuel Spill

Jun 03, 2020 at 17:26 | Irina Slav

Some 20,000 tons of fuel and lubricants spilled into an Arctic river near the industrial city of Norilsk and it will take decades for the river, Ambarnaya, to recover, the…

First Oil Workers Evacuate Ahead Of Tropical Storm Cristobal

First Oil Workers Evacuate Ahead Of Tropical Storm Cristobal

Jun 03, 2020 at 15:32 | Julianne Geiger

Occidental Petroleum is evacuating some of its Gulf of Mexico oil facilities ahead of the anticipated storm Cristobal, Occidental said on Wednesday. The evacuated workers so far will be limited…

Shell Considers Selling Australian LNG Assets For $3 Billion

Shell Considers Selling Australian LNG Assets For $3 Billion

Jun 03, 2020 at 12:11 | Tsvetana Paraskova

Shell is weighing the sale of 26 percent in facilities of the QGC liquefied natural gas (LNG) project it operates in Queensland, eastern Australia, which could fetch up to US$3…

Oil Major Eni Plans To Accelerate Green Energy Efforts

Oil Major Eni Plans To Accelerate Green Energy Efforts

Jun 03, 2020 at 12:00 | Tsvetana Paraskova

Italy’s Eni is considering creating a separate division to focus on renewable energy as the oil and gas major—like other European oil firms—is looking to drastically cut emissions and accelerate…

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