Oil production at Kazakh Tengiz field fell 17% in Aug from July due to...
Oil output at Kazakhstan’s giant Tengiz oilfield, operated by Chevron-led Tengizchevroil, declined by nearly 17% in August from July to 529,280 barrels per day (bpd), two sources familiar with the said...
View ArticleOPEC+ has oil price and demand problems. It should solve demand
OPEC+ has two problems and two solutions. The first problem is that crude oil prices are too low for the comfort of most of the members of the group, which pulls together the Organization of the...
View ArticleLibyan political feud shatters hard-won oil sector stability
For almost two years Libya enjoyed a newfound oil sector stability, with exports reaching a 22-month high in April. Now, a blistering row over the leadership of the central bank — which handles Libya’s...
View ArticleWhat’s behind China’s oil demand dip making waves in global energy
If there is one figure Gulf economic policymakers should watch as carefully as the oil price, Dubai property prices, or US interest rates, it’s probably Chinese oil demand. The world’s second largest...
View ArticleSaudi Arabia may cut crude oil prices for Asia in October
Top oil exporter Saudi Arabia is expected to cut prices for most of the crude grades it sells to Asia in October after Middle East benchmark Dubai slumped last month, industry sources said on Monday....
View ArticleOil slips lower as Chinese demand concerns overshadow Libyan export halt
Brent oil prices declined on Tuesday as sluggish economic growth in China, the world’s biggest crude importer, increased demand concerns while a halt to Libyan production and exports provided a floor....
View ArticleMiddle East Crude-Benchmarks premiums rise further
Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban rose on Tuesday, cementing a strong start to September, rising to over $2 a barrel to Dubai quotes. The premiums are about $1 a...
View ArticleEcuador faces crude output decline due to attacks, corrosion
Setbacks from attacks and corrosion at oilfields in Ecuador’s eastern Amazon jungle are curbing crude output, Petroecuador said in a statement Sept. 2. Armed assailants forced workers to shut down the...
View ArticleOil drops more than 4% on reports of potential resolution to Libya dispute
Oil prices dropped more than 4% on Tuesday to their lowest levels in nearly nine months after reports that a deal was imminent to resolve a dispute that has halted Libyan production and exports. Ahead...
View ArticleLibya declares force majeure on El-Feel oilfield as shutdown drags on
Libya’s beleaguered oil sector suffered its latest setback Sept. 2, with National Oil Company declaring force majeure on the 70,000 b/d El-Feel oilfield, even as output at three eastern fields was...
View ArticleOPEC August output falls to lowest since January on Libya, survey finds
OPEC oil output fell in August to its lowest since January, a Reuters survey found on Monday, as unrest that disrupted Libyan supply added to the impact of ongoing voluntary supply cuts by other...
View ArticleChevron Boosts Oil and Natural Gas Recovery at Two Facilities in U.S. Gulf of...
Chevron Corporation today announced that it started water injection operations at two projects to boost oil and natural gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the...
View ArticleLibya’s El Feel oilfield undergoing major maintenance after force majeure...
Libya’s El Feel oilfield is “now undergoing major maintenance that will take time”, two engineers told Reuters, following the country’s National Oil Corporation’s declaration of force majeure on the...
View ArticleCompanies submit $4 bln plan to develop Cypriot gas field Aphrodite
The partners in the offshore Aphrodite natural gas field have submitted a plan to the Cypriot government to develop the project at a cost of about $4 billion, Israel’s NewMed Energy said. NewMed said...
View ArticleSoutheast Asian LNG hits over 10-month low versus JKM on strong selling interest
The Southeast Asian LNG marker registered the widest discount to date versus the JKM, as strong selling interest after a period of high prices pressured prices lower. Platts, part of S&P Global...
View ArticleNorth America’s LNG export capacity is on track to more than double by 2028
North America’s liquefied natural gas (LNG) export capacity is on track to more than double between 2024 and 2028, from 11.4 billion cubic feet per day (Bcf/d) in 2023 to 24.4 Bcf/d in 2028, if...
View ArticleOil extends drop on easing Libyan dispute, demand concerns
Oil prices fell on Wednesday, extending a plunge of more than 4% the previous day and hovering at their lowest since December, on expectations that a political dispute halting Libyan exports could be...
View ArticleThe Commodities Feed: Oil sell-off
Oil prices have sold off aggressively, dragged lower by the broader risk-off move and prospects of the return of Libyan supply. This recent weakness raises doubts about whether OPEC+ will increase...
View ArticleMiddle East Crude-Benchmarks premiums fall slightly
Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban eased slightly on Wednesday, but remained over $2 a barrel to Dubai quotes. The premiums are over $1 a barrel higher than last...
View ArticleDelays of some E&P projects doesn’t impair offshore drilling market strength:...
Even as a few deepwater drilling or development programs previously slated for 2024 have been pushed back by months or even into the new year, current oil prices and economics of offshore projects...
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