OPEC+ Passes on Oil Output Increase, Weighs the "Trump Effect"
It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output.The soft state of global demand is by itself sufficient reason to justify the decision at this week's…
Oil drops as US storm threat subsides, China's stimulus disappoints
The oil prices continued to fall on Monday, as investors disappointed by China's stimulus program and the threat of disruptions in supply from a storm in the United States. Oil prices continued to…
Malaysia's natural gas and crude oil production will decline by 2025
KUALA LUMPUR - Malaysia's government announced on Friday that it expects a lower crude oil and natural gas output in 2025 as a result of planned maintenance shutdowns and a softer demand for some export markets.
Occidental Petroleum reports lower oil and gas prices in Q3
Occidental Petroleum, a U.S.-based oil producer, announced on Wednesday that its oil and natural gas production prices were lower in the third quarter compared with the previous period. The company…
Oil and Gas Rig Numbers Drop in the US
U.S. energy firms today cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes stated in its closely followed report on Friday.The oil and gas rig count…
PetroVietnam Beats Q1 Crude Output Target
Vietnam's state oil firm PetroVietnam said on Monday its crude oil output was 2.6 million tonnes in the first quarter this year, 12.6% higher than its target.The figure, however, is lower than the…
Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil…
Norway's May Oil Output Down, But Still Above Forecast
Norway's oil production fell in May from the previous month but still exceeded official forecasts by 0.9%, the Norwegian Petroleum Directorate said on Friday.The country's crude oil output fell by…
India's April Crude Processing in Biggest Drop Since 2003
India's crude oil processing in April slumped by 28.8% from a year earlier, its biggest drop since at least 2003, as a nationwide lockdown weighed on fuel demand and forced refiners to cut production.Refiners…
Azerbaijan's Jan-April Oil Output Flat
Azerbaijan's oil and gas condensate output was flat in January-April at 12.4 million tonnes compared with 12.44 million tonnes in the same period last year, the Energy Ministry said on Thursday.Natural…
NLNG Okays Train 7
The Nigerian National Petroleum Corporation (NNPC), Shell, Total, and ENI on Friday signed the final investment decision (FID) to give the go-ahead for the construction of Train 7 of the Nigeria Liquefied…
China Expects Balanced Energy Supply/Demand
China's state planner expects this winter's energy supply and demand to be generally balanced amid increasing natural gas output and liquefied natural gas (LNG) imports, state news agency Xinhua reported…
Angola Seeks to Reduce Gas Flaring to Capture Revenue
Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday.The announcement of…
Storm Cut 73% of US Offshore Production
Tropical Storm Barry has cut 73%, or 1.38 million barrels per day (bpd), of crude oil production in the U.S.-regulated areas of the Gulf of Mexico, the U.S.
Norway's April Oil Output Lags Forecast
Norway's oil production fell 8.8 percent year-on-year in April to 1.38 million barrels per day, lagging the official forecast for the month by 0.6 percent, Norway's Petroleum Directorate (NPD) said…
BP Plans to Exit China's Shale Gas
European oil major BP plans to exit from two production sharing contracts (PSC) for projects drilling for shale gas in the southwestern Chinese province of Sichuan, three sources with the knowledge…
ExxonMobil Profit Tops Estimates
Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts' estimates, pushing it shares up nearly 3 percent in premarket trading as its oil and natural gas output rose slightly on…
Norway's December Oil Output Misses Forecast
Norway's oil production fell by 2.1 percent year-on-year in December and lagged the Petroleum Directorate's forecast for the month by 2.5 percent amid technical problems at some offshore fields, the industry regulator said on Monday.December nat
US Oil Drillers Cut Rigs
U.S. energy firms cut oil rigs for a second week in a row this week, prolonging a move by drillers over the past month to reduce the number of active rigs after crude prices collapsed in October and…
U.S. Crude, Natgas Proved Reserves Hit Record Highs in 2017 -EIA
U.S. crude oil and natural gas proved reserves rose to record highs in 2017, driven by stronger energy prices and the continuing development of shale formations, the U.S. Energy Information Administration…
