In its latest report, the International Energy Agency (IEA) has revised down its forecast for Continue reading IEA cuts oil demand forecasts due to lockdowns
Category: Oil Industry
Total leaves API over climate change policy
French oil major Total has announced it will let its membership of the American Petroleum Institute (API) lapse due to disparities over Continue reading Total leaves API over climate change policy
US shale producers lock in prices
Shale producers in the US have started selling oil futures to lock in prices above $50 for future delivery, according to Continue reading US shale producers lock in prices
US oil production to fall less than expected
The US Energy Information Administration (EIA) has revised its forecast for average production of crude oil in the US. Instead of dropping by 240,000 barrels per day (bpd), which it previously forecasted, it will drop by just Continue reading US oil production to fall less than expected
Petrobras sets new record for oil production
Despite the ongoing COVID-19 pandemic, Brazil’s state-owned oil company Petrobras has scaled its crude oil production up to a new record of 2.3 million barrels per day (bpd), putting it on the same level as Continue reading Petrobras sets new record for oil production
Saudi Arabia to cut oil production
The latest meeting of the OPEC+ group ended with a surprise twist – Saudi Arabia will cut its oil production to allow Russia to make modest Continue reading Saudi Arabia to cut oil production
Russia clashes with OPEC over oil demand
In the first meeting of the OPEC+ group this year, the participating oil producing countries initially failed to come to an agreement over production levels next month, with Russia and Saudi Arabia, the group’s biggest producers, disagreeing over how much oil they think the Continue reading Russia clashes with OPEC over oil demand
Cambodia begins oil production
In the run up to the new year, the Prime Minister of Cambodia, Hun Sen, announced that the country had become an Continue reading Cambodia begins oil production
Libya’s oil production continues to rise
The lifting of the blockade in Libya continues to yield benefits for the countries oil industry, which was brought almost to a standstill for eight months when oilfields and ports were Continue reading Libya’s oil production continues to rise
Shell writes down oil and gas assets
Anglo-Dutch oil major Royal Dutch Shell has announced its intention to write down its oil and gas assets by $3.5 billion as it adapts to a new Continue reading Shell writes down oil and gas assets
