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Home / Oil Industry

Category: Oil Industry

Posted on 26th January 202121st January 2021 by Mark — Leave a comment

IEA cuts oil demand forecasts due to lockdowns

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
Posted on 22nd January 202120th January 2021 by Lisa — Leave a comment

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

Category: Oil Industry
Posted on 20th January 202118th January 2021 by Mark — Leave a comment

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

Category: Oil Industry
Posted on 18th January 202114th January 2021 by Richard — Leave a comment

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

Category: Oil Industry
Posted on 14th January 202111th January 2021 by Mark — Leave a comment

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

Category: Oil Industry
Posted on 10th January 20216th January 2021 by Richard — Leave a comment

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

Category: Oil Industry
Posted on 8th January 20216th January 2021 by Mark — Leave a comment

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

Category: Oil Industry
Posted on 6th January 20215th January 2021 by Lisa — Leave a comment

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

Category: Oil Industry
Posted on 2nd January 202121st December 2020 by Lisa — Leave a comment

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

Category: Oil Industry
Posted on 30th December 202023rd December 2020 by Richard — Leave a comment

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

Category: Oil Industry

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